Seven Angels Theatre Inc

Analysis

Seven Angels Theatre Inc is a registered charity in United States, based in Waterbury, CT. It received its IRS tax-exemption ruling in April 1991, 35 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 2024, Seven Angels Theatre Inc reported income of $1.1m and spending of $1.3m, spending 116% of what it took in. Across the 5 years on record, from July 2020 to July 2024, income grew from $729k to $1.1m (+52%), an average of +11% a year. The sharpest change came in the year to July 2022, when income rose by 257%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Seven Angels Theatre Inc 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 79th percentile within CT. Charities of a similar size with the same main cause include Grandworks Foundation ($1.1m), Montgomery County Historical Society Inc ($1.1m) and Peninsula Ballet Theatre ($1.1m).

On its Form 990 for the period ending July 2024, revenue came from contributions and grants 23% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $69k (5.4% of expenses). Other salaries and wages came to $355k. At year end it held assets of $430k against liabilities of $522k, net assets of -$91k. It reported 35 employees.