Theater Lab Inc

Analysis

Theater Lab Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 2007, 19 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, Theater Lab Inc reported income of $321k and spending of $333k, spending 104% of its income. Across the 3 years on record, from December 2021 to December 2023, income grew from $227k to $321k (+42%), an average of +19% a year. The sharpest change came in the year to December 2022, when income rose by 26%. 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, Theater Lab Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 60th percentile within NY. Charities of a similar size with the same main cause include Michigan Ballet Academy ($321k), Brooklyn Arts Music Academy ($321k) and Loudoun Heritage Farm Museum ($321k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $18k (5.5% of expenses). At year end it held assets of $72k against liabilities of $1,430, net assets of $71k.