Tbac Wind Down Ltd

Nonprofit profile at a glance

EIN
132906037
IRS 990 coverage
2009–2018
Forms available
Form 990 2018
Location
Brooklyn, NY, USA
Phone
3036627121
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Performing Arts Organizations

Official website

Reported finances

Revenue
$3,144,662
Expenses
$173,456
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

2 people listed

Highest reported compensation

  • BRAD BOE (PLAN ADMINISTRATOR): $29,978 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

What it reported doing in 2018

As a result of the chapter 11 bankruptcy proceedings, the big apple circus used the remaining assets to make contributions to other nfp organizations, pursuant to its plan of liquidation.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

REVIEW - The filed numbers largely add up. 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: 13
  • Transparency & Controls: 93
  • Accountability: 16
  • Sustainability: 48
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2%; rating input score 2
  • Program expense ratio: 35.7%; rating input score 36
  • 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: 100%; rating input score 100; 71st percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 94.5%; rating input score 99; 99th 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: 17.3%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: -39.3% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -13.2% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: -19% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 2% of revenue deployed · 35.7% of spending went to programs
  • Governance: 3 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $62K in reported program spending
  • Leadership: top reported pay $30K · 2 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 5 filed schedules · includes grants
  • Filing history: 9 filing years from 2009 to 2018
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 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.

  • High — Financial Efficiency: Mission deployment rate scored 2/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Financial Efficiency: Program expense ratio scored 36/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.