The Apollo Theater Foundation Inc

Analysis

The Apollo Theater Foundation Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, The Apollo Theater Foundation Inc reported income of $17.8m and spending of $20.8m, spending 117% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $18.2m to $17.8m (-2.2%), an average of -0.5% a year. The sharpest change came in the year to June 2021, when income rose by 96%. Over the whole period it spent 77% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Apollo Theater Foundation Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 95th percentile within NY. Charities of a similar size with the same main cause include Center for the Advancement of Science in Space Inc ($17.8m), Riverside Theatre Inc ($17.8m) and PBS Foundation ($17.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $1.3m (6.3% of expenses). Other salaries and wages came to $9.0m. At year end it held assets of $71.7m against liabilities of $3.5m, net assets of $68.2m. It reported 497 employees.