Sioux Falls State Theatre Company

Analysis

Sioux Falls State Theatre Company is a registered charity in United States, based in Sioux Falls, SD. It received its IRS tax-exemption ruling in April 2006, 20 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, Sioux Falls State Theatre Company reported income of $940k and spending of $980k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.0m to $940k (-81%), an average of -34% a year. The sharpest change came in the year to December 2020, when income dropped by 75%. Over the whole period it spent 35% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sioux Falls State Theatre Company sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 79th percentile within SD. Charities of a similar size with the same main cause include Ohio Lawyers Assistance Program Inc ($940k), Artreach Inc ($940k) and Thurston Community Television ($940k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $86k (8.7% of expenses). Other salaries and wages came to $173k. At year end it held assets of $10.9m against liabilities of $3.0m, net assets of $8.0m. It reported 25 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.