Great Lakes Theater Festival Inc

Analysis

Great Lakes Theater Festival Inc is a registered charity in United States, based in Cleveland, OH. It received its IRS tax-exemption ruling in April 1964, 62 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, Great Lakes Theater Festival Inc reported income of $4.6m and spending of $5.0m, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.1m to $4.6m (-9.1%), an average of -2.4% a year. The sharpest change came in the year to June 2022, when income rose by 113%. 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, Great Lakes Theater Festival Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within OH. Charities of a similar size with the same main cause include Full Spectrum Features NFP ($4.6m), Institute for Marine Mammal Studies Inc ($4.6m) and American Friends of the National Portrait Gallery Foundation Inc ($4.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 56% of the total. Compensation of current officers, directors and key employees was $213k (4.3% of expenses). Other salaries and wages came to $1.9m. At year end it held assets of $8.0m against liabilities of $2.1m, net assets of $6.0m. It reported 189 employees.