Korsa Musical Theater

Analysis

Korsa Musical Theater is a registered charity in United States, based in Berkeley, CA. It received its IRS tax-exemption ruling in June 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Korsa Musical Theater reported income of $564k and spending of $575k, spending 102% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $352k to $564k (+60%), an average of +12% a year. The sharpest change came in the year to August 2022, when income rose by 27%. Over the whole period it spent 92% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Korsa Musical Theater sits at the 79th percentile: it is larger than about 79% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 73rd percentile within CA. Charities of a similar size with the same main cause include Essex Art Center Inc ($564k), Steep Theatre Company ($564k) and Passage Theatre Company Inc ($564k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 54% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $104k (18% of expenses). Other salaries and wages came to $187k. At year end it held assets of $298k against liabilities of $25k, net assets of $273k. It reported 5 employees.