Riverside Theatre Inc

Nonprofit profile at a glance

EIN
591764305
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Vero Beach, FL, USA
Phone
7722315860
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$13,619,634
Expenses
$12,285,196
Assets
$56,538,193
Liabilities
$5,286,509

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

Leadership & pay

39 people listed

Executive titles in this filing

  • SANDRA MCMANUS (PRESIDENT)
  • ROBERTA OLSEN (VICE PRESIDENT)
  • WILLIAM SCULLY (VICE PRESIDENT)
  • ALLEN CORNELL (ARTISTIC DIRECTOR/CEO)

Highest reported compensation

  • ALLEN CORNELL (ARTISTIC DIRECTOR/CEO): $284,942 total reported compensation
  • JONATHAN MOSES (MANAGING DIRECTOR/COO): $230,535 total reported compensation

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

Overview

Mission

Riverside theatre, inc. Is committed to providing a total theatre arts experience that entertains, challenges, and educates both adults and children.* producing quality works from broadway, off-broadway, and regional theatres with an emphasis on high production values.* providing the youth of the community with a broad range of education opportunities that will cultivate tomorrow's artist and audiences, while building the skills of today.* providing a nurturing and collaborative environment for the artist, educators, and staff.

What it reported doing in 2024

Summer and in-school workshops for children

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 79
  • Accountability: 100
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.4%; rating input score 74
  • Program expense ratio: 59.5%; rating input score 60
  • Fundraising efficiency: $9.2 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 9.8%; rating input score 67; 67th percentile among comparable filings
  • Total-asset coverage ratio: 4.6; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 75; 75th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 2.3% per year; rating input score 100; 21st percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 74.4% of revenue deployed · 59.5% of spending went to programs
  • Governance: 37 of 37 board members independent · 9 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $7.3M in reported program spending
  • Leadership: top reported pay $285K · 39 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 40 of 40 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.