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Odeum Corporation

EIN 22-3115053 · E Greenwich, RI

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak47 out of 100GovernanceGood77 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO DEVELOP AND OPERATE A CULTURAL CENTER FOR THE ARTS WHICH FEATURES RESIDENT AND TOURING PROFESSIONALS, EDUCATIONAL PROGRAMS IN THE ARTS, AND LOCAL AMATEUR TALENT, BY MAINTAINING A HISTORICALLY SIGNIFICANT THEATER.

Income
$1.7 million
Spending
$1.7 million
Spent on programs
91%
Reserves
-2.3 months of spending
Largest source of income
fees for its services, 92%
Employees
14
Volunteers
0

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

Weak: 47 out of 100. Higher than 17% of charities in its peer group (arts and culture, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    16 of 20

    It owes 28% of what it owns.

  • Living within its means

    8 of 15

    Spending exceeded income by 4% of income.

  • Income trend

    15 of 15

    Income rose 8% on the year before.

  • Spending floor

    8 of 15

    91% of spending went to programs and raising each dollar of donations cost 41 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

Good: 77 out of 100. Higher than 28% of charities in its peer group (arts and culture, $1m to $10m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports 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 (1)
  1. $1.6 million spent. ORGANIZATION PROVIDES THEATER SPACE IN THE HISTORIC DISTRICT OF EAST GREENWICH RI. THE 420-SEAT THEATER, BUILT IN 1926, PLAYS HOST TO A WIDE-ARRAY OF ENTERTAINMENT FOR ALL AGE GROUPS, SUCH AS CONCERTS, COMEDY SHOWS, THEATERICAL PRODUCTIONS, MOVIES, AND OTHER COMMUNITY-DRIVEN EVENTS. IN 2014, THE THEATER BEGAN A MULTI-PHASE REHABILITATION PROJECT, MOSTLY FUNDED BY LOCAL CULTURAL GRANTS, THAT INCLUDED UPDATES TO ENSURE ADA AND FIRE-CODE COMPLIANCE, AS WELL AS TO REPAIR THE FAILING FA ADE AND IMPROVE THE THEATER'S COMMON AREAS. THE THEATER IS CURRENTLY IN THE FINAL PHASE OF THIS MULIT-PHASED PROJECT. LOCALLY, THE THEATER IS SEEN AS AN "ANCHOR" ON MAIN STREET EAST GREENWICH, BRINGING OVER 15,000 PATRONS TO THE DOWNTOWN AREA EACH YEAR, PROVIDING A BOOST IN SALES TO LOCAL RESTAURANTS AND SMALL BUSINESSES.

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

  1. 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 October 13, 2026.

  2. 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 October 13, 2026.

  3. 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 October 13, 2026.

  4. 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 October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since December 1991.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. 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 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.