The Cherry Arts Inc

Nonprofit profile at a glance

EIN
472252738
IRS 990 coverage
2015–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Ithaca, NY, USA
Phone
6467342740
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$372,085
Expenses
$372,865
Assets
$312,918
Liabilities
$250,163

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Nicholas Salvato (President)

People named in this filing

  • Samuel Buggeln (Artistic Director)
  • Nicholas Salvato (President)
  • Laura Miller (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

Theatrical Performance; providing space for other art organizations to perform; theatrical & art training

What it reported doing in 2024

Cherry Arts Productions & Exhibits: In 2024-25 The Cherry created or presented Ithaca Fever, Rosa & Blanca, Vasalisa & Baba Yaga & La Cerise Noir. They coproduced Jay Leeming and LilyPad Puppets along with presenting Dance performances and other Artistic Exhibits

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

STRONG - 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: 77
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 87%; rating input score 87
  • Program expense ratio: 86.8%; rating input score 87
  • Fundraising efficiency: Limited

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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.84; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.8; rating input score 7; 7th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 19.4% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 22.1% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 31.6% per year; rating input score 100; 92nd percentile among comparable filings

Details

  • Where the money goes: 87% of revenue deployed · 86.8% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $324K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 8 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 7/100.