Walnut Street Theatre Corp

Analysis

Walnut Street Theatre Corp is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1969, 57 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 June 2023, Walnut Street Theatre Corp reported income of $10.1m and spending of $13.7m, spending 137% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $26.5m to $10.1m (-62%), an average of -22% a year. The sharpest change came in the year to June 2022, when income rose by 102%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Walnut Street Theatre Corp sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within PA. Charities of a similar size with the same main cause include Saint Paul Chamber Orchestra Society ($10.1m), Dallas Theater Center ($10.1m) and Alignment Research Center ($10.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $1.5m (11% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $32.1m against liabilities of $5.0m, net assets of $27.0m. It reported 333 employees.