Mccarter Theatre Company

Nonprofit profile at a glance

EIN
210724198
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Princeton, NJ, USA
Phone
6092586500
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$14,720,259
Expenses
$15,454,873
Assets
$36,094,924
Liabilities
$4,047,717

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

Leadership & pay

37 people listed

Executive titles in this filing

  • DANIELA BONAFEDE-CHHABRA (PRESIDENT)
  • ASHLEY AITKEN-DAVIES (VICE-PRESIDENT)
  • NEHA DESAI SHAH (VICE-PRESIDENT)
  • BEN HAMMOND (VICE-PRESIDENT)
  • JAMES P HERRING (VICE-PRESIDENT)
  • MARTIN MILLER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SARAH RASMUSSEN (ARTISTIC DIRECTOR): $379,370 total reported compensation
  • MARTIN MILLER (EXECUTIVE DIRECTOR): $353,518 total reported compensation
  • KELLY RYMAN (DIRECTOR OF MKTG & AUDIENCE STRATEGY): $176,492 total reported compensation

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

Overview

Mission

Mccarter is one of the country's flagship theatres and a cultural asset for all of central New Jersey. A nationally renowned, independent performing arts center located on the campus of princeton university, the company is a multi-disciplinary creative hub of arts and ideas offering theater, music, dance, spoken word, and educational programs for all ages. Known for its commitment to creativity and excellence, as well as its thoughtful and engaged audience, mccarter has provided a home for artists since its incorporation. Thornton wilder's our town, kaufmann & hart's you can't take it with you, and william inge's bus stop, all had their premieres on mccarter's stage. The company is the recipient of the regional theatre tony award, and won again for best play for christopher durang's vanya and sonia and masha and spike. Mccarter is co-led today by artistic director sarah rasmussen and executive director martin miller.

What it reported doing in 2024

Artistic and education programsmccarter welcomed over 100,000 community members during the 2024-25 season for 275 performances and events including the theatre, dance and classical series productions and one-night only performances and events; student productions hosted in partnership with the triangle club and lewis center for the arts at princeton university; and education classes and student matinees.the theatre series included the world-premiere empire records: the musical with rock score by zoe sarnak and book by carol heikkinen, duel reality from acclaimed cirque company the 7 fingers, 2024 pulitzer prize finalist for drama here there are blueberries from moises kaufman and the tectonic theater project, karen zacarias's legacy of light directed by mccarter's artistic director sarah rasmussen, the 2024 pulitzer prize for drama primary trust by eboni booth, and the annual holiday classic a christmas carol. The dance, classical, and signature series presented 45 events including concerts by renowned cellist yo-yo ma and grammy winner natalia lafourcade; evenings with television host and comedian roy wood, jr. And New York times best-selling author andy borowitz; dance performances from seoul-based bereishit dance company and the twyla tharp dance (celebrating 60th anniversary); and family programming including "queen of kids' music" laurie berkner.mccarter's year-round education classes welcome theater newcomers and seasoned performers, offering an array of in-person classes for students grades k-12 and for adults. Each class fosters a supportive and creative environment where every student is free to explore, play, and develop their unique artistic voice.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92%; rating input score 92
  • Program expense ratio: 83.5%; rating input score 83
  • Fundraising efficiency: $4.85 raised per $1 spent on fundraising; rating input score 20; 20th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 6 of 6 controls in place; rating input score 100
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -5%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 2.34; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 10.6%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 2.6% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 1.3% per year; rating input score 100; 13th percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 42nd percentile among comparable filings

Details

  • Where the money goes: 92% of revenue deployed · 83.5% of spending went to programs
  • Governance: 26 of 26 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $12.9M in reported program spending
  • Leadership: top reported pay $379K · 37 people listed · 6 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $506K reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 15 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • 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 — Financial Efficiency: Fundraising efficiency scored 20/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.