Bay Street Theatre Festival Inc

Analysis

Bay Street Theatre Festival Inc is a registered charity in United States, based in Sag Harbor, NY. It received its IRS tax-exemption ruling in February 1992, 34 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, Bay Street Theatre Festival Inc reported income of $4.6m and spending of $5.2m, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $3.9m to $4.6m (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 35%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bay Street Theatre Festival Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 89th percentile within NY. Charities of a similar size with the same main cause include Capital B News Inc ($4.6m), Association of Boards in Theological Education in Trust ($4.6m) and Lyric Theatre of Oklahoma Inc ($4.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 55% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $430k (8.3% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $2.5m against liabilities of $1.5m, net assets of $1.0m. It reported 137 employees.