Masonic Theatre Preservation Foundation

Nonprofit profile at a glance

EIN
270440123
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Clifton Forge, VA, USA
Phone
5408624293
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Historical Societies & Historic Preservation

Official website

Reported finances

Revenue
$701,448
Expenses
$808,494
Assets
$7,641,736
Liabilities
$6,950

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

Leadership & pay

5 people listed

Executive titles in this filing

  • BRUCE LOVING (PRESIDENT)

Highest reported compensation

  • TERESA HAMMOND (EXECUTIVE DI): $33,250 total reported compensation
  • JUSTIN REITER (EXECUTIVE DI): $21,640 total reported compensation

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

Overview

Mission

The mission of the masonic theatre preservation foundation is to serve the greater alleghany highlands community with a variety of educational, entertainment, business, and social programs to support the revitalized historic masonic theatre.

What it reported doing in 2024

The masonic theatre preservation foundation serves the greater alleghany highlands community with a variety of educational, entertainment, business, and social programs; and partners with organizations in need of a facility to host programs. By doing so, the masonic theatre and amphitheatre is utilized in providing first-class venues for the performing arts as well as multi-use space for community activities.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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: 87
  • Transparency & Controls: 90
  • Accountability: 84
  • Sustainability: 47
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 93.9%; rating input score 94
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15.3%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 9.45; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: 17.6% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: -1.2% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 93.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $759K in reported program spending
  • Leadership: top reported pay $33K · 5 people listed
  • Consistency: 29 of 29 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.