TALLGRASS THEATRE COMPANY (EIN 300206334) - 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

2021

Legal Domicile

Principal Officer

Joshua Klobassa

Phone

6418916535

Tax Period

2024-06-01 to 2025-05-31

TALLGRASS THEATRE COMPANY, founded in 2021, is a small nonprofit in the Arts, Culture & Humanities sector that reported $213K in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $205K left a modest 4% surplus.

Mission

Tallgrass Theater Company serves to enrich and contribute to the cultural and economic vitality of West Des Moines and surrounding communities by producing theater productions.

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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 $90,139

Program Service Revenue $117,681

Investment Income $484

Other Revenue $4,275

TOTAL REVENUE $212,579

Expense Breakdown

Grants Paid $0

Salaries & Benefits $22,141

Fundraising Expenses $9,812

Program Expenses $191,609

Other Expenses $182,551

TOTAL EXPENSES $204,692

Year-over-Year Comparison

	2024	2023	Change
Revenue	$212,579	$235,806	-0.1%
Expenses	$204,692	$184,671	+0.1%
Net Income	$7,887	$51,135	-0.8%

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

450

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erin Bishop	Member	002.00	Director	$0	$0	$0
Bob Baskerville	President	002.00	Officer	$0	$0	$0
Joshua Klobassa	Treasurer	002.00	Officer	$0	$0	$0
Tyler Klobassa	Secretary	002.00	Officer	$0	$0	$0
Arlene McAtee	Secretary	002.00	Officer	$0	$0	$0
James Stephenson	Vice President	002.00	Officer	$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	$212,579	$204,692	$422,129	$7,887
2024	$235,806	$184,671	$415,615	$51,135
2023	$200,696	$162,959	$362,320	$37,737
2022	$293,908	$129,055	$324,244	$164,853

TALLGRASS THEATRE COMPANY