Illusion Theater and School Inc (EIN 237392140) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

Michael Robins

Phone

6123394944

Tax Period

2024-09-01 to 2025-08-31

Illusion Theater and School Inc, founded in 1974, is a small nonprofit in the Arts, Culture & Humanities sector that reported $915K in total revenue in fiscal year 2024. Revenue surged 36% from the prior year, signaling strong growth momentum. Expenses of $1.0M exceeded revenue, resulting in a 15% operating deficit.

Mission

Illusion Theater's mission is to create theater that illuminates the myths and realities of our times and to catalyze personal and social change.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $699,231

Program Service Revenue $204,056

Investment Income $4,456

Other Revenue $7,490

TOTAL REVENUE $915,233

Expense Breakdown

Grants Paid $0

Salaries & Benefits $479,721

Fundraising Expenses $71,133

Program Expenses $820,252

Other Expenses $532,661

TOTAL EXPENSES $1,048,513

Year-over-Year Comparison

	2024	2023	Change
Revenue	$915,233	$675,272	+0.4%
Expenses	$1,048,513	$895,508	+0.2%
Net Income	$-133,280	$-220,236	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$109,776

Total Directors

$109,776

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Robins	Executive Producing Director	40.00	Officer Director	$50,290	$5,043	$55,333
Bonnie Morris	Producing Director	40.00	Officer Director	$50,290	$4,153	$54,443
Stan Alleyne	Director	1.00	Director	$0	$0	$0
John Beal	Director	1.00	Director	$0	$0	$0
Anthony Bohaty	Director	1.00	Director	$0	$0	$0
Willie Bridges	Director	1.00	Director	$0	$0	$0
Barbara Brin	Director	1.00	Director	$0	$0	$0
John Cushing	Director	1.00	Director	$0	$0	$0
Dani P Deering Esq	Director	1.00	Director	$0	$0	$0
Patrick Dunleavy	Director	1.00	Director	$0	$0	$0
Todd Hennen	Director	1.00	Director	$0	$0	$0
Tim Johnson	Director	1.00	Director	$0	$0	$0
Srikanth Kaligotla	Director	1.00	Director	$0	$0	$0
Maureen Long	Director	1.00	Director	$0	$0	$0
Steven Montgomery	Director	1.00	Director	$0	$0	$0
Dr Emily Palmer	Director	1.00	Director	$0	$0	$0
Colin Peterson	Director	1.00	Director	$0	$0	$0
Jeffrey Rabkin	Director	1.00	Director	$0	$0	$0
Shira Rabkin	Director	1.00	Director	$0	$0	$0
Kate Reiger	Director	1.00	Director	$0	$0	$0
Rebecca Schiller	Director	1.00	Director	$0	$0	$0
Susan Shapiro	Director	1.00	Director	$0	$0	$0
Tracy M Smith	Director	1.00	Director	$0	$0	$0
Santiago Strasser	Director	1.00	Director	$0	$0	$0
Susan Thurston-Hamerski	Director	1.00	Director	$0	$0	$0
Samantha Westmeyer	Director	1.00	Director	$0	$0	$0
Lisa Cotter	Board Vice President	2.00	Officer Director	$0	$0	$0
Keith Halperin	Board President	2.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$915,233	$1,048,513	$400,494	$-133,280
2024	$675,272	$895,508	$529,016	$-220,236
2023	$976,066	$1,009,525	$806,178	$-33,459
2022	$770,905	$976,936	$679,898	$-206,031
2021	$1,043,846	$757,089	$1,021,997	$286,757
2020	$1,024,491	$903,756	$830,933	$120,735

Illusion Theater and School Inc