Embassy Theatre Foundation, Inc.
Accredited Charity
Meets Standards
Accredited Charity
Meets Standards
Standards For Charity Accountability
Governance
-
Board Oversight
Standard 1 (Oversight of Operations and Staff)
Description
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.The organization meets this standard.
-
Board Oversight
Standard 1 (Oversight of Operations and Staff)
Description
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.The organization meets this standard.
-
Board Size
Standard 2 (Number of Board Members)
Description
Soliciting organizations shall have a board of directors with a minimum of five voting members.The organization meets this standard.
-
Board Size
Standard 2 (Number of Board Members)
Description
Soliciting organizations shall have a board of directors with a minimum of five voting members.The organization meets this standard.
-
Board Meetings
Standard 3 (Frequency and Attendance of Board Meetings)
Description
An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.The organization meets this standard.
Measuring Effectiveness
-
Board Meetings
Standard 3 (Frequency and Attendance of Board Meetings)
Description
An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.The organization meets this standard.
-
Board Compensation
Standard 4 (Compensated Board Members)
Description
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.The organization meets this standard.
Finances
-
Board Compensation
Standard 4 (Compensated Board Members)
Description
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.The organization meets this standard.
-
Conflict of Interest
Standard 5 (Conflict of Interest)
Description
No transaction(s) in which any board or staff members have material conflicting interests with the charity resulting from any relationship or business affiliation. Factors that will be considered when concluding whether or not a related party transaction constitutes a conflict of interest and if such a conflict is material, include, but are not limited to: any arm's length procedures established by the charity; the size of the transaction relative to like expenses of the charity; whether the interested party participated in the board vote on the transaction; if competitive bids were sought and whether the transaction is one-time, recurring or ongoing.The organization meets this standard.
-
Conflict of Interest
Standard 5 (Conflict of Interest)
Description
No transaction(s) in which any board or staff members have material conflicting interests with the charity resulting from any relationship or business affiliation. Factors that will be considered when concluding whether or not a related party transaction constitutes a conflict of interest and if such a conflict is material, include, but are not limited to: any arm's length procedures established by the charity; the size of the transaction relative to like expenses of the charity; whether the interested party participated in the board vote on the transaction; if competitive bids were sought and whether the transaction is one-time, recurring or ongoing.The organization meets this standard.
-
Effectiveness Policy
Standard 6 (Board Policy on Effectiveness)
Description
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.The organization meets this standard.
-
Effectiveness Policy
Standard 6 (Board Policy on Effectiveness)
Description
Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.The organization meets this standard.
-
Effectiveness Report
Standard 7 (Board Approval of Written Report on Effectiveness)
Description
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.The organization meets this standard.
-
Effectiveness Report
Standard 7 (Board Approval of Written Report on Effectiveness)
Description
Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.The organization meets this standard.
Fundraising & Info
-
Program Expenses
Standard 8 (Program Service Expense Ratio)
Description
Spend at least 65% of its total expenses on program activities.The organization meets this standard.
-
Program Expenses
Standard 8 (Program Service Expense Ratio)
Description
Spend at least 65% of its total expenses on program activities.The organization meets this standard.
-
Fundraising Expenses
Standard 9 (Fund Raising Expense Ratio)
Description
Spending should be no more than 35% of related contributions on fund raising. Related contributions include donations, legacies, and other gifts received as a result of fund raising efforts.The organization meets this standard.
-
Fundraising Expenses
Standard 9 (Fund Raising Expense Ratio)
Description
Spending should be no more than 35% of related contributions on fund raising. Related contributions include donations, legacies, and other gifts received as a result of fund raising efforts.The organization meets this standard.
-
Accumulating Funds
Standard 10 (Ending Net Assets)
Description
Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.The organization meets this standard.
-
Accumulating Funds
Standard 10 (Ending Net Assets)
Description
Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.The organization meets this standard.
Conclusion
Embassy Theatre Foundation, Inc. meets the 20 Standards for Charity Accountability.
BBB has provisionally passed the organization on Standard 8 due to the organization engaging the services of two consulting firms to assist in strategic work. It worked on board training and a community assessment to assist the board in determining the long term sustainability of AUI.Purpose
-
Stated Purpose
The Embassy Theatre offers a range of arts and entertainment experiences in a historic venue.
-
Year, State Incorporated
1972, IN
Programs
Theatre
For the year ended August 31, 2023, Embassy Theatre Foundation, Inc.'s program expenses were:
| Programs | $5,113,478 |
| Programs | $240,875 |
| Total Program Expenses: | $5,113,478 |
Governance & Staff
-
Chief Executive
Kelly Updike, President/CEO
-
Compensation*
$139,667
-
Chair of the Board
Walter Smith, Community Volunteer
-
Board Size
16
-
Paid Staff Size
32
* Compensation includes annual salary and, if applicable, benefit plans, expense accounts and other allowances.
Fundraising
Method(s) Used:
Direct mail appeals, Invitations to fund raising events, Grant proposals, Internet, Appeals via Social Media (Facebook, etc.), Direct mail appeals, Invitations to fund raising events, Print advertisements (newspapers, magazines, etc.), Grant proposals, Planned giving arrangements, Appeals via Social Media (Facebook, etc.)
% of Related Contributions on Fundraising: 6.94%
Tax Status
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
Financial
The following information is based on Embassy Theatre Foundation, Inc.'s audited financial statements for the year ended August 31, 2023.
| Source of Funds | |
|---|---|
| Ticketing Revenue | $2,279,887 |
| Contributions and Grants | $1,011,705 |
| Concessions and Merchandise | $546,650 |
| Special Events | $530,886 |
| Government Grants | $418,516 |
| Rentals | $370,161 |
| Contributions | $224,441 |
| Investment Income | $197,943 |
| Box Office Service Fees and Other Revenue | $194,479 |
| Unrealized Loss on Investments | $119,117 |
| Memberships | $116,033 |
| Contributed Nonfinancial Assets | $92,767 |
| Sponsorships | $79,420 |
| Participation and Performance Fees | $63,972 |
| Investment Income | $23,255 |
| Marketing Income | $7,500 |
| Transportation and Other Fees | $5,640 |
| Sponsorships | $3,032 |
| In-Kind Contributions | $1,100 |
| Loss on Disposal of Property and Equipment | ($7,650) |
| Realized Loss on Investments | ($12,395) |
| Total Income | $5,838,297 |
- Programs: 84%
- Fundraising: 5%
- Administrative: 11%
| Total Income | $5,838,297 |
| Total expenses: | $6,104,383 |
| Program expenses | $5,113,478 |
| Fundraising expenses | $352,083 |
| Administrative expenses | $638,822 |
| Other expenses | $0 |
| Income in Excess of Expenses | $-266,086 |
| Beginning Net Assets | $17,995,442 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $17,729,356 |
| Total Liabilities | $1,688,367 |
| Total Assets | $19,417,723 |
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
