State Theatre - Bay Citybay County

Nonprofit profile at a glance

EIN
383562110
IRS 990 coverage
2010–2020
Forms available
Form 990 2020
Location
Bay City, MI, USA
Phone
9898922660
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$1,324,762
Expenses
$696,330
Assets
$3,271,062
Liabilities
$188,434

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Highest reported compensation

  • MICHAEL BACIGALUPO (CHIEF OP. OF): $18,354 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide performing arts and films to enhance the cultural opportunities of all people throughout mid Michigan and beyond.

What it reported doing in 2020

From 2016 to present, the state theatre was the recipient of donor restricted funds to be used to build, insure, and maintain the pavilion, accessory building, and the band shell in wenonah park located in downtown bay city to enhance the venue for cultural opportunities in the park. In 2018, construction of the pavilion and accessory building was completed and the buildings and related assets were transferred to the city of bay city to comply with the donor restrictions. The theatre continues to incur costs to insure and maintain these facilities during the year.

Operating model

Revenue model
Donor-supported. 86% 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

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 45.8%; rating input score 46
  • Program expense ratio: 87%; rating input score 87
  • Fundraising efficiency: $68.96 raised per $1 spent on fundraising; rating input score 80; 80th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 47.4%; rating input score 91; 91st percentile among comparable filings
  • Total-asset coverage ratio: 4.7; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 58; 58th percentile among comparable filings
  • Officer compensation ratio: 2.6%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 11.7% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 3.5% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 45.8% of revenue deployed · 87% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $606K in reported program spending
  • Leadership: top reported pay $18K · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 11 filing years from 2010 to 2020
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Sustainability: Liabilities to assets ratio scored 58/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.