Riverside Theater Foundation Inc

Nonprofit profile at a glance

EIN
203422644
IRS 990 coverage
2010–2016
Forms available
Form 990 2016
Location
Milwaukee, WI, USA
Phone
4142863634
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$2,749,156
Expenses
$2,787,525
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2016. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • KEVIN LINDSEY (PRESIDENT/DIRECTOR)
  • GARY WITT (CEO/DIRECTOR)

Highest reported compensation

  • GARY WITT (CEO/DIRECTOR): $220,861 total reported compensation
  • MATT BERINGER (COO): $155,680 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2016. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promotion of the arts through the maintenance and operation of a community theater, adding to the cultural vitality of Metro Milwaukee and southeastern Wisconsin by presenting a wide range of artistic performances and educational events including music, dance and drama in the historic Riverside Theater and Turner Hall Ballroom at the heart of -continued on Sch O

What it reported doing in 2016

Presentation of a wide variety and different types of artistic performances appealing to a broad and varied scope of audiences. During 2016 approximately 22 events were held offering 24 performances.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
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. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 60
  • Accountability: 72
  • Sustainability: 23
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 10th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: -1.4%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0.2%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: -18% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 41st percentile among comparable filings
  • Asset growth: 14.9% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 2 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $2.8M in reported program spending
  • Leadership: top reported pay $221K · 6 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $186K reported
  • Consistency: 16 of 16 current checks pass
  • Schedules: 6 filed schedules · includes executive pay
  • Filing history: 7 filing years from 2010 to 2016
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.