Castle Theatre Inc

Analysis

Castle Theatre Inc is a registered charity in United States, based in Manchester, IA. It received its IRS tax-exemption ruling in June 2011, 15 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, Castle Theatre Inc reported income of $142k and spending of $172k, spending 122% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $198k to $142k (-29%), an average of -8.0% a year. The sharpest change came in the year to August 2022, when income rose by 102%. Over the whole period it spent 120% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Castle Theatre Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 46th percentile within IA. Charities of a similar size with the same main cause include Aspire Performance Academy of the Arts Inc ($142k), Disability Motivational Network ($142k) and Cincinnati Music & Wellness Coalition ($142k).

On its Form 990 for the period ending August 2023, revenue came from program service revenue 100% of the total. Other salaries and wages came to $45k. At year end it held assets of $103k against liabilities of $4,539, net assets of $99k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.