Passage Theatre Company Inc

Analysis

Passage Theatre Company Inc is a registered charity in United States, based in Trenton, NJ. It received its IRS tax-exemption ruling in February 1988, 38 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 2024, Passage Theatre Company Inc reported income of $564k and spending of $572k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $457k to $564k (+23%), an average of +5.4% a year. The sharpest change came in the year to June 2023, when income rose by 122%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Passage Theatre Company Inc sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 76th percentile within NJ. Charities of a similar size with the same main cause include Museum of American Porcelain Art ($563k), Essex Art Center Inc ($564k) and Willcox Theater and Arts Inc ($563k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 84% and program service revenue 4.3% of the total. Compensation of current officers, directors and key employees was $62k (11% of expenses). Other salaries and wages came to $107k. At year end it held assets of $88k against liabilities of $49k, net assets of $39k. It reported 25 employees.