The Firehouse Theatre Project Inc

Nonprofit profile at a glance

EIN
541686050
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8043552001
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$737,752
Expenses
$754,362
Assets
$1,338,246
Liabilities
$6,389

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

Leadership & pay

13 people listed

Executive titles in this filing

  • JERRY SAMFORD (PRESIDENT)

Highest reported compensation

  • NATHANIEL A KEUTER (PRODUCING DI): $56,450 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 firehouse theatre project, inc. Is a thriving hub of creative activity, an artistic home, and a center for community engagement where new work is created and performed.

What it reported doing in 2024

Buried child- a metaphorical study of the decline of the american dream. 14 performances. 935 attendees. Peter and the starcatcher- an imaginative, playful origin story for the beloved peter pan legend. 15 performances. 1470 attendees water by the spoonful (Virginia premiere)- the friendship, love, pain and triumph shared between members of an online recovery group. 14 performances. 927 attendees. Detroit '67 (richmond premiere)- siblings decide what to do with their family inheritance as racial tensions boil over in the streets of detroit.14 performances. 1356 attendees.

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.

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: 95
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.6%; rating input score 98
  • Program expense ratio: 95.5%; rating input score 95
  • Fundraising efficiency: $53.89 raised per $1 spent on fundraising; rating input score 79; 79th 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: 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: 5 of 8 controls in place; rating input score 62
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.3%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 1.77; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 7.5%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 6.8% per year; rating input score 100; 51st percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 29th percentile among comparable filings
  • Asset growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings

Details

  • Where the money goes: 97.6% of revenue deployed · 95.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $720K in reported program spending
  • Leadership: top reported pay $56K · 13 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.