Pilot Point Community Opera House

Nonprofit profile at a glance

EIN
770694662
IRS 990 coverage
2013–2017
Forms available
Form 990 2017, Form 990-EZ 2011
Location
Pilot Point, TX, USA
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Performing Arts Centers

Official website

Reported finances

Revenue
$44,650
Expenses
$56,237
Assets
$394,529
Liabilities
$499,337

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • TOM THOMPSON (PRESIDENT)
  • STEVE SPARKMAN (VICE-PRESIDENT)

People named in this filing

  • TOM THOMPSON (PRESIDENT)
  • STEVE SPARKMAN (VICE-PRESIDENT)
  • RAY DANE (SECRETARY)

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 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To rebuild and restore the 2nd floor facade and walls of the original 1894 opera house as part of the 19th century pilot point historic square preservation and to provide a complete facility that will operate as an opera house

What it reported doing in 2017

Rented opera house building to various individuals ans organizations putting on events in the community

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 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 - 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: 73
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.3%; rating input score 89
  • Program expense ratio: 70.9%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: -26%; rating input score 34; 34th percentile among comparable filings
  • Total-asset coverage ratio: 7.02; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 1.27; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: 5.6% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 8% per year; rating input score 100; 82nd percentile among comparable filings
  • Asset growth: -2.6% per year; rating input score 0; 34th percentile among comparable filings

Details

  • Where the money goes: 89.3% of revenue deployed · 70.9% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $40K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 5 filing years from 2013 to 2017
  • 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.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 34/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.