The National Foundation for Musical Theatre Inc

Nonprofit profile at a glance

EIN
831537885
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-N 2020
Location
Owatonna, MN, USA
Phone
6124087533
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts Education

Official website

Reported finances

Revenue
$33,930
Expenses
$52,664
Assets
$650,751
Liabilities
$655

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

Leadership & pay

5 people listed

Executive titles in this filing

  • JOHN THEW (PRESIDENT)
  • TROY BERMEL (VICE PRESIDENT)

Highest reported compensation

  • JOHN THEW (PRESIDENT): $12,000 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 national foundation for musical theatre is a community of producers, institutions, and musical theatre enthusiasts supporting the development, production, and appreciation of musical theatre. We understand that it often takes hundreds of thousands of dollars to develop a single musical. Try to move that show to broadway and it can take millions of dollars more. While this is typically more than one person or institution can afford on their own, if we pool our resources, together we can make a tremendous impact.

What it reported doing in 2024

We fund readings, workshops, and musical theatre productions across the country. Through our programs, we encourage activities that unite and heal the nation through musical theatre, and educate the next generation to the extraordinary impact this art form can have on our culture. The national foundation for musical theatre awards grants for the production or presentation of new musicals, works from the existing canon, development laboratories, showcases, and artist residencies.

Operating model

Revenue model
Investment-supported. 86% of the money available for current operations came from recurring investment income.
Distribution model
Grant intermediary. The nonprofit sent 68% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 77
  • Accountability: 70
  • Sustainability: 39
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 53.2%; rating input score 53
  • Fundraising efficiency: $0.87 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 65.8%; rating input score 66; 48th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 66.7%; rating input score 67; 22nd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -55.2%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 12.36; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 22.8%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: 26.3% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: -99.6% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -4.2% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 53.2% of spending went to programs
  • Governance: 2 of 3 board members independent · 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $28K in reported program spending
  • Leadership: top reported pay $12K · 5 people listed
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Program expense ratio scored 53/100.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 28/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Growth: Asset growth scored 0/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.