Red Eye Collaboration EIN 41-1469078

Red Eye Collaboration

EIN  41-1469078 Public charity (501(c)(3)) Minneapolis, MN
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Supports creating and producing innovative, boundary-breaking performance art.
Leadership
Karen Quisenberry · President
Money in and out
$290K revenue, $324K expenses
Bottom line
85% program efficiency

Supports creating and producing innovative, boundary-breaking performance art. For fiscal year 2025 it reported $290K in revenue, $324K in expenses, and $459K in net assets.Pt I

Where the money goes · FY2025
Total revenue
$290K
Pt VIII · Ln 12
Total expenses
$324K
Pt IX · Ln 25
Net assets
$459K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$34K
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.04 Fundraising $0.11
Program efficiency
85%
of spending reaches programs▲ +5% vs prior filing year
Operating runway
10.7mo
months of highly liquid reserves at operating expense rate▲ +2% vs prior filing year
Surplus margin
-12%
revenue over expenses, this year▼ -129% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$290K
FY2025▼ -43%
Expenses
$324K
FY2025▲ +7%
Total assets
$583K
FY2025▼ -5%
Total liabilities
$124K
FY2025▲ +3%
Total revenue
$290K
Pt VIII · Ln 12
Total expenses
$324K
Pt IX · Ln 25
Net assets
$459K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$34K
Total assetsPt X · Ln 16$583K
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

1 program service account for $275K of program spending, described in the organization's own filed words · FY2024.
01

Red eye collaboration is a multi-disciplinary creative laboratory that supports the development and production of boundary-breaking performance work. Serving for nearly four decades as a leading producer of those working at the cutting edges of contemporary performance, red eye remains a passionate champion of daring independent artists.

$275Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRed Eye Collaboration
EINHdr · item D41-1469078
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jwww.redeyetheater.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A650)
Ruling yearIRS BMFOct 1984

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Red Eye Collaboration executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$235K · 81%
Program service revenue$55K · 19%
Contributions & grants81%$235K
Program service revenue19%$55K
— government grantsLn 1e$129K
Total revenueLn 12$290K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.04 Fundraising $0.11
Program services85%$275K
Management & general4%$14K
Fundraising11%$35K
Total functional expensesLn 25$324K

Balance Sheet

Part X · end of year
CashLn 1$289K
Total assetsLn 16$583K
Total liabilitiesLn 26$124K
Total net assetsLn 32$459K
Months of cash on handcomputed10.7

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $289K · Operating expenses/yr $324K
10.7 months
Where the money goes
Program services
Program services $275K · Total expenses $324K
85%
Management & General
Management & general $14K · Total expenses $324K
4%
Fundraising
Fundraising $35K · Total expenses $324K
11%
Cost to raise $1
Fundraising expense (3-yr avg) $37K · Solicited contributions (3-yr avg) $169K
$0.22 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $235K · Total revenue $290K
81%
Government reliance
Government grants $129K · Total revenue $290K
45%
Earned-income share
Program service revenue $55K · Total revenue $290K
19%
Investment reliance
Investment income $0 · Total revenue $290K
0%
Program self-sufficiency
Program service revenue $55K · Total expenses $324K
17%
Growth & trend
Revenue growth (YoY)
This year $290K · Prior year $506K
-43%
Revenue CAGR
FY2019 $171K · FY2024 $290K
+11%
Net-asset trend (YoY)
End of year $459K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $290K · Expenses $324K
-12%
Liabilities-to-Assets
Total liabilities — · Total assets $583K
Net-asset ratio
Net assets $459K · Total assets $583K
79%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $583K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Karen Quisenberry · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $324K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $66K · Total expenses $324K
20%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 4%
Fundraising cost ratio 15%
Revenue growth -43%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$165K
See all 3 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$290K revenue · viewing · ⤓ 990 PDF
FY2024$506K revenue · ⤓ 990 PDF
FY2023$113K revenue · ⤓ 990 PDF
FY2022$314K revenue · ⤓ 990 PDF
FY2021$255K revenue · ⤓ 990 PDF
FY2020$171K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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