Lost Nation Theater Inc

Nonprofit profile at a glance

EIN
030267568
IRS 990 coverage
2013–2021
Forms available
Form 990 2021
Location
Montpelier, VT, USA
Rating
74
Verdict
SUPPORTED
Rating confidence
Standard

Reported finances

Revenue
$285,064
Expenses
$248,543
Assets
$433,827
Liabilities
$155,601

Source: IRS Form 990. Selected filing: tax year 2021. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • KIM BENT (PRESIDENT)

Highest reported compensation

  • KATHLEEN KEENAN (ARTISTIC DIRECTOR): $22,884 total reported compensation
  • KIM BENT (PRESIDENT): $22,884 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2021. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Lost nation theater is dedicated to creating stimulating drama and educational programs in original and innovative ways; to the hopeful possibilities of human interaction; and to using theater as an effective force and catalyst for personal and community transformation.

What it reported doing in 2021

We adjusted programs to the covid crisis and restrictions. All scheduled shows, youth camps and events were cancelled. Program format changed from live, inside due to covid stopping inside performances. The city hall building was closed to the public march 18, 2020. Being housed on the 2nd & 3rd floor of city hall forced us to shut our city hall business office and to cease doing live performances. Staff was furloughed march 31, 2020: directors april 20 - may 21. Accounting apr 1, 2020- aug21.directors started immediately working to gain skills & equipment to stream videos of previous shows online, making and streaming interviews of actors, technicians and designers, and creating and holding online theater skill building workshops. They worked very hard to create materials that would provide the theater a lively online present and maintain our audience base. In 2022 the theater reopened with live performances and youth camps.

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 100
  • Accountability: 56
  • Sustainability: 45
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.8%; rating input score 75
  • Program expense ratio: 85.7%; rating input score 86
  • Fundraising efficiency: $10.52 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 80%; rating input score 80; 21st percentile among comparable filings
  • Governance controls: 2 of 9 controls in place; rating input score 22
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 12.8%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.75; rating input score 51; 51st percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 15; 15th percentile among comparable filings
  • Officer compensation ratio: 18.4%; rating input score 22; 22nd percentile among comparable filings

Growth

  • Program expense growth: -8.1% per year; rating input score 0; 19th percentile among comparable filings
  • Revenue growth: -3% per year; rating input score 0; 20th percentile among comparable filings
  • Asset growth: 30.8% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 74.8% of revenue deployed · 85.7% of spending went to programs
  • Governance: 8 of 10 board members independent · 2 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $213K in reported program spending
  • Leadership: top reported pay $23K · 10 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2013 to 2021
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 6 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Total-asset coverage ratio scored 51/100.
  • High — Sustainability: Liabilities to assets ratio scored 15/100.
  • High — Sustainability: Officer compensation ratio scored 22/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.