Performing Arts Center Inc

Nonprofit profile at a glance

EIN
562155282
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Highlands, NC, USA
Phone
8285269047
Rating
83
Verdict
STRONG
Rating confidence
Standard
Sector
Theater

Official website

Reported finances

Revenue
$1,485,953
Expenses
$1,433,719
Assets
$16,973,814
Liabilities
$211,833

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

Leadership & pay

14 people listed

Executive titles in this filing

  • John Eastman (Vice President)
  • Steve Harris (President)
  • Jeanne Marie Piazza (Executive Director)
  • Mary Trumbly (Executive Director (Outgoing))

Highest reported compensation

  • Mary Trumbly (Executive Director (Outgoing)): $97,806 total reported compensation
  • Jeanne Marie Piazza (Executive Director): $43,211 total reported compensation

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

Overview

Mission

To provide high quality venues and performing arts for the Highlands - Cashiers community.

What it reported doing in 2024

Operation of a performing arts center in Highlands, NC for the purpose of promoting the performing arts in the community.

Operating model

Revenue model
Donor-supported. 66% 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 - The filed numbers largely add up and a large share of available resources goes toward mission work. Revenue has declined or grown slowly and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 72
  • Transparency & Controls: 100
  • Accountability: 90
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.8%; rating input score 73
  • Program expense ratio: 73.5%; rating input score 73
  • Fundraising efficiency: $22.61 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 3.5%; rating input score 46; 46th percentile among comparable filings
  • Total-asset coverage ratio: 11.84; rating input score 93; 93rd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 67; 67th percentile among comparable filings
  • Officer compensation ratio: 9.8%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 32.8% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 10.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 72.8% of revenue deployed · 73.5% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $98K · 14 people listed
  • Consistency: 33 of 33 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2019 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.

  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 46/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.