Theater District Improvement Inc

Nonprofit profile at a glance

EIN
760492773
IRS 990 coverage
2014–2020
Forms available
Form 990 2020
Location
Houston, TX, USA
Phone
7132286737
Rating
50
Verdict
MIXED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$10,340
Expenses
$10,340
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Kathryn McNiel (CEO)

People named in this filing

  • Perryn Leech (Chairman)
  • Dean Gladden (Vice Chairman)
  • Jim Nelson (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 2020. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Theater District Improvement exists solely to serve as the administrator of Hotel Occupancy Taxes. These taxes are a pass-through from the City of Houston, which, by contract are distributed to the seven resident Theater District performing arts companies based upon an agreed-upon allocation.

What it reported doing in 2020

In 2020, the Theater District Improvement, Inc. (TDI) board of directors filed to dissolve the organization. TDI's primary activity during 2020 was to distribute the 2019 grants payable to eight Houston performing arts organizations and prepare to cease all operations.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 1
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 35
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.3%; rating input score 2
  • Program expense ratio: 1.2%; rating input score 1
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd 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: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 57; 57th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -14.1% per year; rating input score 0; 32nd percentile among comparable filings
  • Revenue growth: -14% per year; rating input score 0; 29th percentile among comparable filings
  • Asset growth: -9.5% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 2.3% of revenue deployed · 1.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $120 in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 12 of 12 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 6 filing years from 2014 to 2020
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 2/100.
  • High — Financial Efficiency: Program expense ratio scored 1/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Sustainability: Operating margin scored 57/100.
  • High — Growth: Asset growth scored 0/100.