Majestic Theatre Management Inc
Nonprofit profile at a glance
- EIN
- 930877386
- IRS 990 coverage
- 2013–2013
- Forms available
- Form 990 2013
- Location
- Corvallis, OR, USA
- Phone
- 5417587827
- Rating
- 77
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Single Organization Support
Reported finances
- Revenue
- $323,823
- Expenses
- $322,705
- Assets
- $590,459
- Liabilities
- $18,110
Source: IRS Form 990. Selected filing: tax year 2013. Amounts in USD.
Leadership & pay
10 people listed
Executive titles in this filing
- Deborah Correa (President)
- Barb Kralj (Vice President)
Highest reported compensation
- Timamarie Ivey (Executive Dir.): $8,884 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2013. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide access, excllence and education to benefit the public and the greater arts community at The Majestic Theater, a City owned community arts center in downtown Corvallis, Oregon.
What it reported doing in 2013
First built as a 1200 seat grand movie palace and vaudeville hall in 1913, the Majestic Theatre was purchased by the City of Corvallis is 1985 with designated funds from a private estate. Wehile the building is owned by the City of Corvalis and administered in cooperation with the City of Corvallis Parks and Recreation Department, the theater is managed and operated by Majestic Theatre Management, Inc.The Majestic Theatre was established by the city as a resource for the community, its arts groups and non-profits, as well as the City and Oregon State University faculty and strdents. One of our most vital seices as Majestic Theatre Management is providing access to affordable space to the dozens of groups that call The Majestic home. The Majestic Theatre also serves as a creative laboratory, meeting place and performance venue for a vibrant community of artists and the diverse and highly educated audience base of the mid-Willammette valley.The Majestic is honored to support the work and mission of its community anchors which in the 2013 to 2014 fiscal year included Majestic Community Theatre, da Vinci Days Film Festival, Corvallis Folklore Society, Willamette Apprentice Ballet, Downtown Dance, Modern Dance Technique, Pacific Tap, Doxology, Santiam Christian School, Willamette Children's Theater, Hearts of the Valley Talent Search, OSU Jazz Ensembles, Infinite Improv, Drink & Draw and City of Corvallis Martin Luther King Celebration. Our community anchors and curated rentals generated over 10,000 unique cultural experiences last year.In addition, the Majestic hosted numerous regional and national renowned artists such as: Scott KritzerThe Shook TwinsPigs on the WingXenatraDegenerate Art EnsembleWanderlustHell's BellesSara WatkinsPortland Cello Project
Operating model
- Revenue model
- Earned-program. 62% 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
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: 74
- Sustainability: 48
- Growth: NotEnoughData
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 78.5%; rating input score 78
- Program expense ratio: 81.3%; rating input score 81
- Fundraising efficiency: $7.98 raised per $1 spent on fundraising; rating input score 35; 35th 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: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 3 of 8 controls in place; rating input score 38
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.3%; rating input score 43; 43rd percentile among comparable filings
- Total-asset coverage ratio: 1.83; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 49; 49th percentile among comparable filings
- Officer compensation ratio: 2.8%; rating input score 44; 44th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: Limited
- Asset growth: Limited
Details
- Where the money goes: 78.5% of revenue deployed · 81.3% of spending went to programs
- Governance: 9 of 9 board members independent · 3 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $262K in reported program spending
- Leadership: top reported pay $9K · 10 people listed
- Consistency: 24 of 24 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
- Moderate — Accountability: Governance controls: 5 of 8 not reported.
- Moderate — Financial Efficiency: Fundraising efficiency scored 35/100.
- Moderate — Sustainability: Operating margin scored 43/100.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- Moderate — Sustainability: Officer compensation ratio scored 44/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 49/100.