Waldo Theatre Inc

Nonprofit profile at a glance

EIN
010459306
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-N 2017
Location
Waldoboro, ME, USA
Phone
2075429138
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Theater

Reported finances

Revenue
$577,146
Expenses
$566,736
Assets
$1,029,551
Liabilities
$188,795

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

Leadership & pay

10 people listed

Executive titles in this filing

  • KEN STEVENSON (DIRECTOR & PRESIDENT)
  • LIZ MCGREGOR (DIRECTOR & VICE PRESIDENT)
  • SUSAN HODDER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SUSAN HODDER (EXECUTIVE DIRECTOR): $71,500 total reported compensation

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

Overview

Mission

Waldo theatre connects and builds community by celebrating culture and the arts

What it reported doing in 2024

The waldo uses the transformative power of the arts to engage, educate, and entertain, and have built a set of programs designed to meet sutdents where they are academically, artistically, socially, and emotionally, and help them discover and develop life skills. Our goal is to provide high quality theatre arts education that reinforces academic learning objectives such as reading comprehension and oral language skills, as well as vital social emotional skills such as confidence, communication, creativity and connection. Through activities in school, after school and in summer, and master classes by professional artists, the waldo seeks to enrich cultural education for all residents, regardless of means. During the 2023/2024 school year, our in-school program served 119 students in six classrooms in five towns. We had over 500 students attend curriculum-based field trips, and our after school program served 45 students. The after school and summer camp prgrams are both fee-based with the goal of being self-sustaining. Full or partial scholarships ensure that no student is left out due to economic hardship. Underwriting allows for decreased registration fees, increasing accessibility.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 85
  • Accountability: 69
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 78.5%; rating input score 79
  • Program expense ratio: 76%; rating input score 76
  • Fundraising efficiency: $5.12 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th 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: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 1.8%; rating input score 41; 41st percentile among comparable filings
  • Total-asset coverage ratio: 1.82; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 12.6%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: 41.7% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: 25.1% per year; rating input score 100; 90th percentile among comparable filings
  • Asset growth: 7.5% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 78.5% of revenue deployed · 76% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $431K in reported program spending
  • Leadership: top reported pay $72K · 10 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 7 filing years from 2018 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 — Accountability: Governance controls: 5 of 7 not reported.
  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • Moderate — Sustainability: Operating margin scored 41/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 29/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.