Vault Theatre Limited
Nonprofit profile at a glance
- EIN
- 881731605
- IRS 990-EZ coverage
- 2023–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2022
- Location
- Durham, NC, USA
- Phone
- 9198864584
- Rating
- 75
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Performing Arts Organizations
Reported finances
- Revenue
- $173,729
- Expenses
- $182,538
- Assets
- $22,994
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
3 people listed
People named in this filing
- Lauren Sale (Producing Artistic Director)
- Katherine Swimm (Board Secretary)
- Danni Dichito (Board Treasurer)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Vault Theatre creates high-quality theatre programming with, for, and by young artists in North Carolina. We help students explore their creative potential through arts-integration in schools, onstage performances, and innovative theatre productions.
What it reported doing in 2024
Classes and Camps served 412 young artists with 1680 family and friends supporting by attending final performances.
Operating model
- Revenue model
- Earned-program. 94% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 74
- Transparency & Controls: 82
- Sustainability: 16
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 76.1%; rating input score 76
- Program expense ratio: 72.4%; rating input score 72
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Limited
Sustainability
- Operating margin: -5.1%; rating input score 22; 22nd percentile among comparable filings
- Total-asset coverage ratio: 0.13; rating input score 13; 13th percentile among comparable filings
- Liabilities to assets ratio: Limited
- Officer compensation ratio: 20.5%; rating input score 16; 16th percentile among comparable filings
Growth
- Program expense growth: 57.2% per year; rating input score 100; 93rd percentile among comparable filings
- Revenue growth: 54% per year; rating input score 100; 96th percentile among comparable filings
- Asset growth: -32.2% per year; rating input score 0; 4th percentile among comparable filings
Details
- Where the money goes: 76.1% of revenue deployed · 72.4% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $132K in reported program spending
- Leadership: top reported pay $0 · 3 people listed
- Consistency: 6 of 6 current checks pass
- Schedules: 2 filed schedules
- Filing history: 2 filing years from 2023 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- 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 — Sustainability: Operating margin scored 22/100.
- High — Sustainability: Total-asset coverage ratio scored 13/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 16/100.