True Colors Theatre Company

Analysis

True Colors Theatre Company is a registered charity in United States, based in Atlanta, GA. It received its IRS tax-exemption ruling in October 2002, 24 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, True Colors Theatre Company reported income of $1.1m and spending of $1.7m, spending 149% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.6m to $1.1m (-28%), an average of -8.0% a year. The sharpest change came in the year to July 2023, when income dropped by 27%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, True Colors Theatre Company sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 84th percentile within GA. Charities of a similar size with the same main cause include The Red Door Project ($1.1m), Hunterdon Art Museum ($1.1m) and Indianapolis Opera Company ($1.1m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $543k. At year end it held assets of $1.2m against liabilities of $318k, net assets of $858k. It reported 24 employees.