The Blanket Incorporated

Nonprofit profile at a glance

EIN
991107604
IRS 990 coverage
2024–2025
Forms available
Form 990 2025
Location
Harrisonburg, VA, USA
Phone
9175978094
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Dance

Reported finances

Revenue
$300,815
Expenses
$351,372
Assets
$47,149
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

2 people listed

Highest reported compensation

  • Susan Caitlin Scranton (Co-Director): $31,472 total reported compensation
  • Matthew Pardo (Co-Director): $18,466 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Performing arts

Operating model

Revenue model
Donor-supported. 98% 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 - 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 80
  • Accountability: 64
  • Sustainability: 21
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 96.2%; rating input score 96
  • Program expense ratio: 82.3%; rating input score 82
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 88.9%; rating input score 89; 6th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 9 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: Limited
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.8%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 9; 9th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 14.2%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 63.7% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: -33.4% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -69.8% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 96.2% of revenue deployed · 82.3% of spending went to programs
  • Governance: 2 of 2 board members independent · 1 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $289K in reported program spending
  • Leadership: top reported pay $31K · 2 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 13/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 9/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.