Structural Deficit
What does this mean?
Persistently low financial health over 5 years despite strong programmatic output. They are borrowing from their future (or bleeding an endowment) to pay for today's programs.
The Path Forward
The Truth-Teller
Forces necessary, painful cuts to preserve the core. It demands that the organization stop borrowing from its future and align its current programmatic output with actual sustainable revenue.
Title
Representative Institutions
Institutional Epochs
Historical Performance
| Year | Revenue | Top Comp | Comp % Rev | Score | Phase Label | Outlook | Details |
|---|---|---|---|---|---|---|---|
| 2022 | — | — | 27.9% | 38 | Fragile | Gov Risk | |
| 2021 | Hidden | Hidden | 13.6% | 45 | Fragile | Recovery | |
| 2020 | — | — | 17.8% | 31 | Critical Intervention Needed | Recovery | |
| 2019 | — | — | 22.8% | 27 | Critical Intervention Needed | Decline Risk | |
| 2018 | — | — | 20.3% | 27 | Critical Intervention Needed | Stable Watch | |
| 2017 | — | — | 19.1% | 27 | Critical Intervention Needed | Stable Watch | |
| 2016 | — | — | 17.2% | 27 | Critical Intervention Needed | Stable Watch | |
| 2015 | — | — | 21.1% | 27 | Critical Intervention Needed | Stable Watch | |
| 2014 | — | — | 21.9% | 27 | Critical Intervention Needed | Stable Watch | |
| 2013 | — | — | 19.8% | 27 | Critical Intervention Needed | Stable Watch | |
| 2012 | — | — | 21.4% | 27 | Critical Intervention Needed | Stable Watch | |
| 2011 | — | — | 20.4% | 27 | Critical Intervention Needed | Stable Watch |
Officer compensation history
Tax year 2023
| Name | Title | Phone | Compensation | |
|---|---|---|---|---|
| KATHLEEN KEENAN | Artistic Director | Hidden | ||
| KIM BENT | Board President | Hidden | ||
| PAM LEARNER | Board Member | — | ||
| SHANDA WILLIAMS | Board Member | — | ||
| STEPHEN WILLIS | Board Member | — | ||
| JESSICA GOODLINE | Board Member | — | ||
| EARL FECHTER | Board Member | — | ||
| MICHAEL ZAHM | Treasurer | — | ||
| LAURIE CALLAHAN | Board President | — | ||
| CHRISTINE ZAHM | Secretary | — |
Tax year 2022
| Name | Title | Phone | Compensation | |
|---|---|---|---|---|
| Kim Bent | Board President | Hidden | ||
| Kathleen Keenan | Artistic Director | Hidden | ||
| Laurie Callahan | Chairman | — | ||
| Gary Haas | Board Member | — | ||
| Christine Zahm | Secretary | — | ||
| Veronica Lopez | Board Member | — | ||
| Michael Zahm | Treasurer | — | ||
| Earl Fechter | Board Member | — | ||
| Jessica Goodline | Board Member | — | ||
| Carol Montgomery | Board Member | — |
Score breakdown
The three components combine into a single 0–100 score weighted as shown. Full methodology →
Peer comparison
Compared to 36 other orgs in VT with NTEE prefix A6.
Most-divergent component: program score sits 14 points above the peer median (45 vs. 31).
5-year trend: Structural Deficit
Persistently low financial health over 5 years despite strong programmatic output. They are borrowing from their future (or bleeding an endowment) to pay for today's programs.
Overall score has gone from 27 → 38 over 5 years (improving by 11 points). A multi-year directional move of this magnitude is a signal worth investigating.
What's driving this score
- Comp-to-revenue ratio of 27.9% is modestly above the sector's healthy band (18–22%) — worth monitoring.
- Financial resilience score in the bottom quartile — reserves and liabilities ratios warrant review.
What would change this score
The two changes that would most improve this score:
- Reduce top-officer compensation from 27.9% to under 22% of revenue — would move governance score by ~12 points.
- Separate signing authority from fundraising authority when both are held by one person — removes the concentration penalty (~12 points).
Improving governance is a board decision. These are the levers.