Old Sound Room Performance Ensemble Inc

Nonprofit profile at a glance

EIN
465716265
IRS 990-EZ coverage
2016–2018
Forms available
Form 990-EZ 2018, Form 990-N 2017
Location
Brooklyn, NY, USA
Phone
8655671006
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Music Groups, Bands, Ensembles

Reported finances

Revenue
$94,258
Expenses
$38,380
Assets
$64,911
Liabilities
$21,619

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • Kent Nicholson (President)

People named in this filing

  • Kent Nicholson (President)
  • Mary McKenna (Secretary)
  • Tony Trombino (Treasurer)

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

Source: IRS Form 990-EZ. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organization is primarily involved in producing theater productions for public enrichment.

What it reported doing in 2018

During the latter portion of 2018, we began rehearsals for our most ambitious project to date, titled "The Infinite Hotel". During this time we worked tirelessly in a donated rehearsal space in Jersey City to develop the show, which was a hybrid production incorporating elements from music theater, immersive theater, rock concerts, and live film making. In January of 2019 it performed to sold out audiences in the Irondale Center in Brooklyn, NY as part of the Prototype Festival of New Opera and Music Theatre.

Operating model

Revenue model
Donor-supported. 88% 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 total spending goes to programs. A relatively small share of available resources goes toward mission work and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 82
  • Sustainability: 71
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 40.7%; rating input score 41
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 59.3%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 1.69; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.33; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -29.6% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 21.5% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: 89.1% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 40.7% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $38K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2016 to 2018
  • Contacts: How to reach this organization
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.