Musicalfare Theatre Company Inc

Analysis

Musicalfare Theatre Company Inc is a registered charity in United States, based in Buffalo, NY. It received its IRS tax-exemption ruling in November 1994, 32 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 August 2023, Musicalfare Theatre Company Inc reported income of $1.6m and spending of $1.7m, spending 111% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.4m to $1.6m (+13%), an average of +3.1% a year. The sharpest change came in the year to August 2022, when income rose by 141%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Musicalfare Theatre Company Inc sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Plano Symphony Orchestra Non-Profit Corp ($1.5m), Go for Broke National Education Center ($1.6m) and Troopers Drum and Bugle Corps Inc ($1.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 36% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $107k (6.3% of expenses). Other salaries and wages came to $774k. At year end it held assets of $1.0m against liabilities of $369k, net assets of $672k. It reported 90 employees.