Lobster Theater Project

Analysis

Lobster Theater Project is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in May 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 (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, Lobster Theater Project reported income of $253k and spending of $282k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $261k to $253k (-3.2%), an average of -0.8% a year. The sharpest change came in the year to December 2022, when income rose by 52%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lobster Theater Project sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 61st percentile within CA. Charities of a similar size with the same main cause include Siletz Bay Music Festival ($253k), Destination Downtown Lancaster Inc ($253k) and Frontiers in Bioscience Inc ($253k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $121k (43% of expenses). Other salaries and wages came to $4,712. At year end it held assets of $58k against liabilities of $0, net assets of $58k. It reported 65 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.