Soo Theatre Project

Analysis

Soo Theatre Project is a registered charity in United States, based in Sault S Marie, MI. It received its IRS tax-exemption ruling in January 2004, 22 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 August 2023, Soo Theatre Project reported income of $442k and spending of $353k, leaving 20% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $284k to $442k (+55%), an average of +12% a year. The sharpest change came in the year to August 2021, when income rose by 52%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Soo Theatre Project sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within MI. Charities of a similar size with the same main cause include Round Canopy Parachuting Team-Usa Foundation Inc ($442k), Perry County Council of the Arts ($442k) and Caribbeing Inc ($442k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 46% and program service revenue 54% of the total. Other salaries and wages came to $149k. At year end it held assets of $945k against liabilities of $8,479, net assets of $936k. It reported 20 employees.