Friends of the Strand Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
IT IS THE STRAND'S MISSION TO ENRICH AND ENGAGE OUR REGIONAL COMMUNITY THROUGH DIVERSE ENTERTAINMENT AND MEMORABLE EXPERIENCES FOR ALL. SEE SCHEDULE O, PART 1, LINE 1 FOR ADDITIONAL DETAILS.
- Income
- $2.7 million
- Spending
- $2.7 million
- Spent on programs
- 82%
- Reserves
- 0.1 months of spending
- Largest source of income
- fees for its services, 63%
- Employees
- 45
- Volunteers
- 100
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 56 out of 100. Higher than 29% of charities in its peer group (arts and culture, $1m to $10m).
Reserves
4 of 35Spendable reserves would cover 0.1 months of spending.
Debt
10 of 20It owes 46% of what it owns.
Living within its means
12 of 15Income exceeded spending by 2% of income.
Income trend
15 of 15Income rose 16% on the year before.
Spending floor
15 of 1582% of spending went to programs and raising each dollar of donations cost 27 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 65% of charities in its peer group (arts and culture, $1m to $10m).
Independent board
25 of 2524 of 24 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $1.2 million spent. AS THE LAST REMAINING HISTORIC THEATRE IN COBB COUNTY, THE STRAND IS A LANDMARK STEEPED IN HISTORY ON THE MARIETTA SQUARE. ORIGINALLY BUILT IN 1935 BY THE MANNING-WINKS THEATRE COMPANY AS AN ART DECO MOVIE PALACE. IT IS CURRENTLY THE HOME OF THE EARL AND RACHEL SMITH STRAND THEATRE, A NONPROFIT ARTS ORGANIZATION THAT LIGHTS UP THE SQUARE WITH FILMS, CONCERTS, MUSICALS, PLAYS, EDUCATIONAL PROGRAMMING, AND COMMUNITY GATHERINGS. WHETHER PATRONS ARE INTERESTED IN STEPPING BACK IN TIME TO GLIMPSE A BYGONE ERA OR LOOKING FORWARD TO SEEING CURRENT ACTS OF TODAY, THE STRAND FILLS A CRITICAL NICHE IN THE LOCAL CULTURAL LANDSCAPE OF MARIETTA. THE STRAND HOSTS A WIDE VARIETY OF ART FORMS AND COMMUNITY GATHERINGS AND PROVIDES A HISTORIC HOME FOR ARTS LOVERS TO COME TOGETHER AS A COMMUNITY.
- $978,754 spent. THE ORGANIZATION IS DEDICATED TO THE RESTORATION AND OPERATION OF THE LAST REMAINING HISTORIC THEATRE IN COBB COUNTY. BY THE EARLY 2000S, THE LANDMARK HAD FALLEN INTO SERIOUS DISREPAIR. A GROUP OF CONCERNED CIVIC LEADERS LAUNCHED INTO ACTION TO RE-OPEN THE THEATRE IN 2008 AND RESTORED IT TO ITS FORMER SPLENDOR. THE THEATRE'S PHYSICAL ASSETS RANGING FROM THE RESTORED LUMIERE LOUNGE TO THE OPEN-AIR ROOFTOP TERRACE ARE ALL ESSENTIAL PIECES OF THE BUSINESS MODEL NOT DIRECTLY ASSOCIATED WITH PERFORMANCES.
- $17,827 spent. THE ORGANIZATION IS DEDICATED TO SERVING THE COMMUNITY'S NEED AND GROWING DEMAND FOR HIGH-QUALITY ARTS PROGRAMMING AND EDUCATION. THE ORGANIZATION DEVELOPS PROGRAMS TO INTRODUCE AND GARNER A LOVE FOR THE ARTS IN THE YOUNG COMMUNITY MEMBERS AND STUDENTS. THIS IS ACCOMPLISHED THROUGH PERFORMING ARTS CAMPS, WORKSHOPS AND PRODUCTIONS SPECIFICALLY FOR AND IN MANY CASES PERFORMED BY STUDENTS AND YOUTH.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 2003.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
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