Pegasus Theatre Chicago

Nonprofit profile at a glance

EIN
363002953
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Chicago, IL, USA
Phone
7738788864
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$170,428
Expenses
$199,912
Assets
$100,564
Liabilities
$2,280

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

Leadership & pay

4 people listed

Executive titles in this filing

  • Luther Goins (Co-President)

Highest reported compensation

  • Ilesa Duncan (Executive Dir.): $44,163 total reported compensation

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

Overview

Mission

Pegasus Theatre Chicago is a professional theater approaching 45 years of supporting Chicagos diverse community by producing accessible, socially relevant theatre and promoting the development of new artists for the stage. Our mission is to champion new, authentic voices and produce boldly imaginative theatre primarily by and about black or other people of color (POC). We promote intercultural communication with all Chicagoans by producing plays that inspire dialogue.

What it reported doing in 2024

Produced main stage productions where new designers, technicians and actors have honed their craft, the Young Playwrights Festival where high school students learn the art of writing for the stage, or our new works projects, where professional playwrights, actors and designers come together to create new works in a safe environment.

Operating model

Revenue model
Donor-supported. 68% 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

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 revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 92
  • Accountability: 65
  • Sustainability: 21
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.2%; rating input score 97
  • Program expense ratio: 82.8%; rating input score 83
  • Fundraising efficiency: $18.64 raised per $1 spent on fundraising; rating input score 56; 56th 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: 75%; rating input score 75; 20th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • 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: -17.3%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 24; 24th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 39; 39th percentile among comparable filings
  • Officer compensation ratio: 22.1%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 31st percentile among comparable filings
  • Revenue growth: -0.6% per year; rating input score 0; 21st percentile among comparable filings
  • Asset growth: 12.1% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 97.2% of revenue deployed · 82.8% of spending went to programs
  • Governance: 3 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $166K in reported program spending
  • Leadership: top reported pay $44K · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2015 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: 3 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • High — Sustainability: Total-asset coverage ratio scored 24/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 39/100.