Ovation Theatre

Nonprofit profile at a glance

EIN
471388690
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021, Form 990-N 2016
Location
Encinitas, CA, USA
Phone
6198237462
Rating
88
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Organizations

Reported finances

Revenue
$229,605
Expenses
$223,993
Assets
$62,681
Liabilities
$8,357

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Pamela Laurent (Executive Director)
  • Karen Moreland (President)

People named in this filing

  • Pamela Laurent (Executive Director)
  • Scott Gregory (Director)
  • Don Gregory (Director)

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

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

Overview

Mission

To educate and enrich the community with musical theatre.

What it reported doing in 2024

Phyllis Gregory Music and Theatre Memorial Scholarship: A memorial scholarship fund awards scholarships to youth to pursue an arts education or to assist with production fees if they are unable to make the financial commitment as a cast member or camper. Thirteen scholarships were awarded during the fiscal year.

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 98% 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: 95
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.4%; rating input score 95
  • Program expense ratio: 96.1%; rating input score 96
  • Fundraising efficiency: $340.04 raised per $1 spent on fundraising; rating input score 94; 94th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 78.6%; rating input score 79; 20th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.4%; rating input score 45; 45th percentile among comparable filings
  • Total-asset coverage ratio: 0.28; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 24; 24th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.7% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 13.3% per year; rating input score 100; 79th percentile among comparable filings
  • Asset growth: 4.5% per year; rating input score 100; 45th percentile among comparable filings

Details

  • Where the money goes: 95.4% of revenue deployed · 96.1% of spending went to programs
  • Governance: 11 of 14 board members independent · 5 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $215K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Operating margin scored 45/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • High — Sustainability: Liabilities to assets ratio scored 24/100.