Our Fabulous Variety Show Inc

Nonprofit profile at a glance

EIN
473695330
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Hampton Bays, NY, USA
Phone
5162974123
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$208,492
Expenses
$241,346
Assets
$25,716
Liabilities
$12,005

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

Leadership & pay

13 people listed

Executive titles in this filing

  • KATHRYN MENU (PRESIDENT)

Highest reported compensation

  • KATARZYNA KLIMIUK (EXECUTIVE DI): $33,648 total reported compensation

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

Overview

Mission

Provide performance and educational opportunities for professionals and young adults as well as providing educational and arts programing in theater, dance, and music in the community.

What it reported doing in 2024

Ofvs provides performing arts classes in theatre, dance and music throughout the calendar school year between september and june. Classes take place after school and in the evenings on a weekly basis across two semesters. Ofvs has answered the problem of affordable and accessible performing arts programming by providing the lowest priced classes with ample scholarship and discount opportunities with as low a commitment rate as a single class drop in. Growing from 45 students in the fall of 2021 to now over 300 students as of june 2025, this is a service that the east end has been in need of and demand has grown exponentially over the last few years and continues to grow. Classes are available to students from ages 3 to 18 as well as adults. Ofvs also had a dance competition team called "competition crew" that is part of the performing arts program services and provides special pop-up workshops to the community that include movie nights, themed dance workshops and more. Competition crew is an optional year-round dance team offered to all ofvs participants who are motivated to join. There is no audition required, nor ballet requirement, which again challenges the standard model. Participants opt into rigorous training, learn choreography, and attend 2-3 dance competitions on long island. Ofvs crew is a creative youth development group open to all ofvs participants and meets monthly on saturdays. Crew provides year-round students with the opportunity to connect and build community while offering a pre-professional performing arts experience, yearlong projects and culminating celebration each year.

Operating model

Revenue model
Earned-program. 73% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 84
  • Accountability: 16
  • Sustainability: 14
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87.5%; rating input score 88
  • Program expense ratio: 75.6%; rating input score 76
  • Fundraising efficiency: $7.05 raised per $1 spent on fundraising; rating input score 30; 30th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -15.8%; rating input score 17; 17th percentile among comparable filings
  • Total-asset coverage ratio: 0.11; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.47; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 13.9%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: -52% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 19.3% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 29.5% per year; rating input score 100; 91st percentile among comparable filings

Details

  • Where the money goes: 87.5% of revenue deployed · 75.6% of spending went to programs
  • Governance: 0 of 12 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $182K in reported program spending
  • Leadership: top reported pay $34K · 13 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 2 filing years from 2023 to 2024
  • 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 30/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 17/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.