The 24 Hour Company

Nonprofit profile at a glance

EIN
043587685
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Brooklyn, NY, USA
Phone
2122295600
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$448,659
Expenses
$432,132
Assets
$108,007
Liabilities
$124,036

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

Leadership & pay

9 people listed

Executive titles in this filing

  • SHARI SOOFIAN (PRESIDENT)

Highest reported compensation

  • MARK ARMSTRONG (ARTISTIC DIR): $59,488 total reported compensation

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

Overview

Mission

The organization's mission is to bring together creative communities to produce plays and musicals that are written, rehearsed and performed in 24 hours.

What it reported doing in 2024

Produce time-limited theatre productions of the 24 hour plays, the 24 hour plays; nationals, and the 24 plays: viral monologues, supported licensing of time-limited theatre to schools and organizations around the world.

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. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 92
  • Accountability: 73
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77%; rating input score 77
  • Program expense ratio: 79.9%; rating input score 80
  • Fundraising efficiency: $17.97 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.7%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 14; 14th percentile among comparable filings
  • Liabilities to assets ratio: 1.15; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 13.8%; rating input score 25; 25th percentile among comparable filings

Growth

  • Program expense growth: 14.1% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 13.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 11.9% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 77% of revenue deployed · 79.9% of spending went to programs
  • Governance: 8 of 9 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $345K in reported program spending
  • Leadership: top reported pay $59K · 9 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 6 filing years from 2018 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • High — Sustainability: Total-asset coverage ratio scored 14/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 25/100.