Illusion Theater and School Inc

Analysis

Illusion Theater and School Inc is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in August 1974, 52 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 August 2023, Illusion Theater and School Inc reported income of $976k and spending of $1.0m, spending 103% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $936k to $976k (+4.3%), an average of +1.1% a year. The sharpest change came in the year to August 2023, when income rose by 27%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illusion Theater and School Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 78th percentile within MN. Charities of a similar size with the same main cause include California Heritage Indigenous Research Project ($976k), Dance Educators of America Inc ($976k) and Central West Ballet ($975k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 89% and program service revenue 11% of the total. Compensation of current officers, directors and key employees was $150k (15% of expenses). Other salaries and wages came to $264k. It paid $53k in professional fundraising fees. At year end it held assets of $806k against liabilities of $343k, net assets of $463k. It reported 40 employees.