Friends of the Historic Genesee Theatre

Analysis

Friends of the Historic Genesee Theatre is a registered charity in United States, based in Waukegan, IL. It received its IRS tax-exemption ruling in April 1981, 45 years ago. 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, Friends of the Historic Genesee Theatre reported income of $7.3m and spending of $6.8m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $6.7m to $7.3m (+9.4%), an average of +2.3% a year. The sharpest change came in the year to June 2022, when income rose by 239%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Friends of the Historic Genesee Theatre sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 94th percentile within IL. Charities of a similar size with the same main cause include Legal Aid of East Tennessee Inc ($7.3m), New Orleans Area Habitat for Humanity Inc ($7.3m) and Beis Sefer Govoha Lebanos Sara Schenirer ($7.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 27% and program service revenue 71% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $7.1m against liabilities of $1.3m, net assets of $5.8m. It reported 245 employees.