Fiasco Theater

Analysis

Fiasco Theater is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in July 2009, 17 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, Fiasco Theater reported income of $671k and spending of $674k, spending 100% of its income. Across the 5 years on record, from December 2019 to June 2023, income grew from $360k to $671k (+86%), an average of +17% a year. The sharpest change came in the year to June 2023, when income rose by 194%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Fiasco Theater sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Texas Museums & Halls of Fame ($671k), Arts Empowering Life Inc ($672k) and Maumee Valley Broadcasting ($671k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 82% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $119k (18% of expenses). Other salaries and wages came to $141k. At year end it held assets of $385k against liabilities of $26k, net assets of $359k. It reported 41 employees.