The Theater Project Inc

Nonprofit profile at a glance

EIN
223234059
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
West Springfield, MA, USA
Phone
4137477797
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$1,881,774
Expenses
$1,862,573
Assets
$2,268,181
Liabilities
$1,680,784

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

Leadership & pay

5 people listed

Executive titles in this filing

  • DANNY EATON (President)
  • CHRISTINE THOMPSON (Vice President)

Highest reported compensation

  • DANNY EATON (President): $58,405 total reported compensation
  • TODD KADIS (TREASURER/CLERK): $24,642 total reported compensation
  • CHRISTINE THOMPSON (Vice President): $3,020 total reported compensation

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

Overview

Mission

To provide pioneer valley based actors, actresses, and technicians with a professional environment in which to perform - the majestic theater.

What it reported doing in 2024

Locally producing live theater at the majestic since 1997 with an audience of typically 40,000.

Operating model

Revenue model
Earned-program. 86% of the money available for current operations came from fees and other program revenue.
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. A relatively small share of voting board members are independent and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 75
  • Transparency & Controls: 90
  • Accountability: 47
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.2%; rating input score 83
  • Program expense ratio: 85%; rating input score 85
  • Fundraising efficiency: $1.65 raised per $1 spent on fundraising; rating input score 5; 5th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 40%; rating input score 40; 10th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.22; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0.74; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 4.6%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 5.9% per year; rating input score 100; 47th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 3% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 83.2% of revenue deployed · 85% of spending went to programs
  • Governance: 2 of 5 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $1.6M in reported program spending
  • Leadership: top reported pay $58K · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $137K reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 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.

Key Signals

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

  • Moderate — Accountability: Independent voting board scored 40/100.
  • High — Financial Efficiency: Fundraising efficiency scored 5/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.