Theater Wit NFP

Analysis

Theater Wit NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2004, 22 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Theater Wit NFP reported income of $927k and spending of $1.1m, spending 116% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $927k (-12%), an average of -3.1% a year. The sharpest change came in the year to December 2020, when income dropped by 52%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Theater Wit NFP sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 78th percentile within IL. Charities of a similar size with the same main cause include Friends of the Railroad Museum of Pennsylvania ($927k), Museum of Prairiefire Foundation ($927k) and Virginia Discovery Museum Inc ($927k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $88k (8.2% of expenses). Other salaries and wages came to $352k. At year end it held assets of $379k against liabilities of $466k, net assets of -$88k. It reported 113 employees.