Studio East Training for the Performing Arts

Nonprofit profile at a glance

EIN
943213270
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-T 2020
Location
Kirkland, WA, USA
Phone
4258201800
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$1,154,834
Expenses
$1,784,418
Assets
$580,074
Liabilities
$312,557

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

Leadership & pay

10 people listed

Executive titles in this filing

  • Carolyn Agan (Interim Executive Director)
  • Alexa Skilling (President)
  • Sierra Zenghi (Vice President)

Highest reported compensation

  • Carolyn Agan (Interim Executive Director): $93,848 total reported compensation
  • Jennifer Tucker (Managing Director through October 2024): $67,363 total reported compensation

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

Overview

Mission

Studio East creates opportunities for young people to discover and explore the performing arts.

What it reported doing in 2024

Mainstage Productions: In order to create opportunities for students to practice their craft and develop their skills, Studio East produces 6-8 fully staged theatrical productions. With professional directors, choreographers, and designers, students engage in a full rehearsal process and present their final production for the public in performance runs that range from 3-16 performances.

Operating model

Revenue model
Other-operating. 73% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 97% 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

STRONG - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 94
  • Accountability: 91
  • Sustainability: 12
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 71.4%; rating input score 71
  • Fundraising efficiency: $2.95 raised per $1 spent on fundraising; rating input score 9; 9th 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: 100%; rating input score 100; 76th percentile among comparable filings
  • 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: 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: -54.5%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0.33; rating input score 15; 15th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 9%; rating input score 40; 40th percentile among comparable filings

Growth

  • Program expense growth: -1.9% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: -0.7% per year; rating input score 0; 12th percentile among comparable filings
  • Asset growth: 10.3% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 71.4% of spending went to programs
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $94K · 10 people listed
  • Consistency: 38 of 38 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 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 — Financial Efficiency: Fundraising efficiency scored 9/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 15/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.
  • Moderate — Sustainability: Officer compensation ratio scored 40/100.