Theatreworks Silicon Valley

Nonprofit profile at a glance

EIN
942831245
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Redwood City, CA, USA
Phone
6504637186
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$11,230,610
Expenses
$9,082,049
Assets
$12,299,582
Liabilities
$4,495,507

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

Leadership & pay

29 people listed

Executive titles in this filing

  • DEBBIE CHINN FORMER (EXECUTIVE DIRECTOR (THROUGH 06/2024))
  • PHIL SANTORA (EXECUTIVE DIRECTOR (AS OF 04/2025))

Highest reported compensation

  • GIOVANNA SARDELLI (ARTISTIC DIRECTOR): $192,167 total reported compensation
  • AARON NICHOLSON (DIRECTOR OF DEVELOPMENT): $180,685 total reported compensation
  • KAREN SZPALLER (DIRECTOR OF PRODUCTION): $135,139 total reported compensation

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

Overview

Mission

Our mission is to ignite imagination and foster meaningful connections as an outstanding professional theatre that celebrates diverse experiences and our shared humanity, enriching silicon valley and beyond.

What it reported doing in 2024

New works initiative: theatreworks has become a theatre of national significance through its commitment to new works. The theatre has produced over 75 world premieres. The "new works initiative" incorporates all aspects of the development process including staged readings; an annual writer's retreat for playwrights, composers, and lyricists; an annual public new works festival; artist commissions and full productions of world premieres. Theatreworks has contributed to the development of over 110 new works through the new works initiative, many of which have been produced on its main stage. As a result of the initiative, theatreworks has grown from a theatre with an idea for a unique developmental program for new music theater to a major (continued on schedule o) player on the national scene in developing and producing world premieres.

Operating model

Revenue model
Donor-supported. 63% of the money available for current operations came from contributions and gifts.
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

SUPPORTED - 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: 46
  • Transparency & Controls: 74
  • Accountability: 92
  • Sustainability: 59
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 43.6%; rating input score 44
  • Program expense ratio: 52.3%; rating input score 52
  • Fundraising efficiency: $10.14 raised per $1 spent on fundraising; rating input score 39; 39th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 95.5%; rating input score 95; 29th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 19.1%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 1.35; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.37; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 20; 20th percentile among comparable filings

Growth

  • Program expense growth: -4% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: 2.1% per year; rating input score 100; 19th percentile among comparable filings
  • Asset growth: 5.8% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 43.6% of revenue deployed · 52.3% of spending went to programs
  • Governance: 21 of 22 board members independent · 8 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $4.8M in reported program spending
  • Leadership: top reported pay $192K · 29 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 4 contractors listed · $688K reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 10 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 — Financial Efficiency: Mission deployment rate scored 44/100.
  • Review — Financial Efficiency: Program expense ratio scored 52/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 39/100.
  • High — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Officer compensation ratio scored 20/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.