Virginia Repertory Theatre

Nonprofit profile at a glance

EIN
510159357
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Richmond, VA, USA
Phone
8047831688
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Theater

Official website

Reported finances

Revenue
$5,767,445
Expenses
$5,530,810
Assets
$7,540,896
Liabilities
$2,306,730

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

Leadership & pay

19 people listed

Highest reported compensation

  • KLAUS SCHULLER (MANAGING DIRECTOR): $127,390 total reported compensation
  • RICHARD HAMMERLY (ARTISTIC DIRECTOR): $104,723 total reported compensation

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

Overview

Mission

Virginia repertory theatre is a nonprofit professional theater based in richmond, Virginia. Virginia rep's mission is to entertain, challenge, and uplift our communities through the power of live theatre.

What it reported doing in 2024

Main stage: Virginia repertory theatre offers a season across three venues for adults and families. The historic november theater at 114 w broad st, offers national-caliber productions of the great dramas, comedies, and musicals past, present, and future plus child and family "jessie bogese season" offerings.the historic hanover tavern offers professional productions on a more intimate scale, often including classics and historical offerings as well as light comedies and mysteries.the historic complex downtown at 114 w broad includes both the november theater and theatre gym, an intimate space where va rep and other local small theatres can experiment with less commercial offerings.the november theatre is the oldest major theatre in Virginia, a nationally registered key property in the old and historic broad street district, on the edge of historic jackson ward.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 77
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 48
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.9%; rating input score 79
  • Program expense ratio: 82.1%; rating input score 82
  • Fundraising efficiency: $15.12 raised per $1 spent on fundraising; rating input score 51; 51st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 8 of 8 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: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 4.1%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 1.36; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.31; rating input score 34; 34th percentile among comparable filings
  • Officer compensation ratio: 4.2%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 1.4% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: 9.6% per year; rating input score 100; 57th percentile among comparable filings

Details

  • Where the money goes: 78.9% of revenue deployed · 82.1% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.5M in reported program spending
  • Leadership: top reported pay $127K · 19 people listed
  • Consistency: 37 of 37 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Review — Financial Efficiency: Fundraising efficiency scored 51/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 34/100.