Lantern Theater Company

Analysis

Lantern Theater Company is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1995, 31 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 2023, Lantern Theater Company reported income of $1.2m and spending of $2.0m, spending 159% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.0m to $1.2m (-38%), an average of -11% a year. The sharpest change came in the year to June 2022, when income rose by 63%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lantern Theater Company sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include National Institute of Statistical Sciences ($1.2m), Erie Civic Theatre Association ($1.2m) and Honolulu Festival Foundation ($1.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $169k (8.6% of expenses). Other salaries and wages came to $825k. At year end it held assets of $1.1m against liabilities of $436k, net assets of $678k. It reported 99 employees.