Waterworks Theatre Company Inc

Analysis

Waterworks Theatre Company Inc is a registered charity in United States, based in Royal Oak, MI. It received its IRS tax-exemption ruling in February 2002, 24 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 December 2023, Waterworks Theatre Company Inc reported income of $88k and spending of $104k, spending 119% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $336k to $88k (-74%), an average of -74% a year. The sharpest change came in the year to December 2023, when income dropped by 74%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waterworks Theatre Company Inc sits at the 37th percentile: it is larger than about 37% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 33rd percentile within MI. Charities of a similar size with the same main cause include Eisenhower Instrumental Music Boosters ($88k), KB Dance & Performing Arts Inc ($88k) and Bartow Band Boosters Inc ($88k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 30% and program service revenue 69% of the total. At year end it held assets of $17k against liabilities of $21k, net assets of -$3,993.