Theatreworks USA Corp

Analysis

Theatreworks USA Corp is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1967, 59 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 June 2023, Theatreworks USA Corp reported income of $6.9m and spending of $7.4m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.1m to $6.9m (-3.5%), an average of -0.9% a year. The sharpest change came in the year to June 2022, when income rose by 161%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Theatreworks USA Corp sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Local Independent Online News Publishers Inc ($6.9m), North Carolina Transportation Museum Foundation ($6.9m) and Jewbelong Inc ($6.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $378k (5.1% of expenses). Other salaries and wages came to $2.4m. At year end it held assets of $5.3m against liabilities of $2.2m, net assets of $3.1m. It reported 305 employees.