Illinois Theatre Association

Analysis

Illinois Theatre Association is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 1977, 49 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, Illinois Theatre Association reported income of $250k and spending of $198k, leaving 21% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income fell from $469k to $250k (-47%), an average of -14% a year. The sharpest change came in the year to August 2023, when income rose by 127%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Illinois Theatre Association sits at the 65th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 58th percentile within IL. Charities of a similar size with the same main cause include Muzik 3 Foundation Inc ($250k), Mars Society Inc ($250k) and Saint Albans Museum Inc ($250k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 27% and program service revenue 21% of the total. At year end it held assets of $103k against liabilities of $2,454, net assets of $100k.