Theatreworks USA Corporation

Nonprofit profile at a glance

EIN
132583793
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2126471100
Rating
66
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$7,448,994
Expenses
$8,149,880
Assets
$4,218,179
Liabilities
$2,591,434

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

Leadership & pay

25 people listed

Executive titles in this filing

  • BARBARA PASTERNACK (PRESIDENT)
  • MICHAEL HARRINGTON (PRESIDENT/EXECUTIVE DIRECTOR)

Highest reported compensation

  • BARBARA PASTERNACK (PRESIDENT): $226,921 total reported compensation
  • MICHAEL HARRINGTON (PRESIDENT/EXECUTIVE DIRECTOR): $153,769 total reported compensation

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

Overview

Mission

Theaterworksusa creates exceptional, transformative theatrical experiences for young and family audiences in diverse communities throughout New York city and north america.

What it reported doing in 2024

National touring/theatre accesstwusa produces professional theater for young and family audiences and then tours these productions to nearly 500 schools, community centers, and theaters across north america. This program reaches over 1.2 million children, educators, and families annually (more than 100 million individuals cumulatively served in the organization's lifetime), including many underserved youth and communities. Free and subsidized tickets are distributed to children and schools in need in an attempt to make live theater as accessible as possible. Special, free performances frequently take place in children's hospitals and areas affected by tragedy.

Operating model

Revenue model
Earned-program. 82% 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 most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 57
  • Accountability: 78
  • Sustainability: 20
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.8%; rating input score 89
  • Program expense ratio: 79.2%; rating input score 79
  • Fundraising efficiency: $3.77 raised per $1 spent on fundraising; rating input score 12; 12th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 21st 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: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -9.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.52; rating input score 18; 18th percentile among comparable filings
  • Liabilities to assets ratio: 0.61; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 4.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -1.9% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 7th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 88.8% of revenue deployed · 79.2% of spending went to programs
  • Governance: 18 of 20 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $6.5M in reported program spending
  • Leadership: top reported pay $227K · 25 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $384K reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 8 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Financial Efficiency: Fundraising efficiency scored 12/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.