New York Shakespeare Festival

Analysis

New York Shakespeare Festival is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in February 1956, 70 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 August 2023, New York Shakespeare Festival reported income of $50.4m and spending of $61.7m, spending 122% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $88.7m to $50.4m (-43%), an average of -13% a year. The sharpest change came in the year to August 2022, when income rose by 49%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New York Shakespeare Festival sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 98th percentile within NY. Charities of a similar size with the same main cause include Buck Institute for Research on Aging ($50.4m), Our Rescue ($50.4m) and Childrens Museum of Indianapolis Incorporated ($49.8m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 58% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $3.3m (5.3% of expenses). Other salaries and wages came to $27.3m. It paid $999k in professional fundraising fees. At year end it held assets of $147.7m against liabilities of $30.6m, net assets of $117.1m. It reported 1,374 employees.