Troy Savings Bank Music Hall Corporation

Nonprofit profile at a glance

EIN
222270512
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Troy, NY, USA
Phone
5182738945
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$10,376,889
Expenses
$2,362,488
Assets
$14,623,837
Liabilities
$3,136,568

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

Leadership & pay

13 people listed

Executive titles in this filing

  • SCOTT SAUER (PRESIDENT)
  • DORI MCDANNOLD (VICE PRESIDENT)
  • JON ELBAUM (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JON ELBAUM (EXECUTIVE DIRECTOR): $115,986 total reported compensation
  • STACEY BRIDGE (MANAGING DIRECTOR): $91,712 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 mission of the troy savings bank music hall corporation is to enrich the community and inspire passion for the creative arts by fostering diverse, engaging, inclusive, and transformative cultural experiences through performances, collaboration, community events, and education.

What it reported doing in 2024

Community programming - the troy savings bank music hall corporation partners with the local school system to provide arts in education programming to the student population in the region and provides administrative and programming support services for arts based community groups.

Operating model

Revenue model
Donor-supported. 79% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 87
  • Accountability: 95
  • Sustainability: 81
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 18.3%; rating input score 18
  • Program expense ratio: 77.2%; rating input score 77
  • Fundraising efficiency: $170.26 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 94.1%; rating input score 94; 20th 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; 66th 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 77.2%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 6.19; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 8.8%; rating input score 26; 26th percentile among comparable filings

Growth

  • Program expense growth: 9.3% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 16.6% per year; rating input score 100; 89th percentile among comparable filings
  • Asset growth: 25.7% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 18.3% of revenue deployed · 77.2% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.8M in reported program spending
  • Leadership: top reported pay $116K · 13 people listed
  • Highest-paid contractors: 2 contractors listed · $2.7M reported
  • Consistency: 32 of 33 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • High — Financial Efficiency: Mission deployment rate scored 18/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 26/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.