Louisville Theatrical Association Inc

Nonprofit profile at a glance

EIN
616000383
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Louisville, KY, USA
Phone
5025847469
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Centers

Reported finances

Revenue
$12,860,650
Expenses
$12,818,493
Assets
$15,807,541
Liabilities
$14,643,365

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

20 people listed

Executive titles in this filing

  • MICHAEL BERRY (VICE PRESIDENT/SECRETARY)
  • DAVID FERGUSON (VICE PRESIDENT/TREASURER)
  • LESLIE BROECKER (PRESIDENT)

People named in this filing

  • BRADLEY BROECKER (CHAIRMAN EMERITUS)
  • MICHAEL BERRY (VICE PRESIDENT/SECRETARY)
  • CHUCK SCHUPP (MEMBER AT LARGE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Advance the arts through education and enabling the public, generally, to enjoy musical, dramatic, operatic, and other forms of entertainment, to as great an extent as possible and at as low a cost as possible. Produce and present performances and programs, and intellectual and instructive lectures.

What it reported doing in 2024

Use broadway series education program to expand knowledge of future artists. Program fosters community outreach, provides workshops and subsidized tickets for students. In 2024, we created a state-wide high school musical competition in partnership with the jimmy awards, the national high school musical competition and the Kentucky center.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99.5%; rating input score 100
  • Program expense ratio: 99.8%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.3%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 1.23; rating input score 44; 44th percentile among comparable filings
  • Liabilities to assets ratio: 0.93; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 0.7% per year; rating input score 100; 13th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 26.7% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 99.5% of revenue deployed · 99.8% of spending went to programs
  • Governance: 20 of 20 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $12.8M in reported program spending
  • Leadership: top reported pay $0 · 20 people listed
  • Highest-paid contractors: 1 contractor listed · $14.1M reported
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • High — Accountability: Governance controls: 5 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.