Commonweal Theatre Company

Analysis

Commonweal Theatre Company is a registered charity in United States, based in Lanesboro, MN. It received its IRS tax-exemption ruling in August 1995, 31 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 December 2023, Commonweal Theatre Company reported income of $851k and spending of $1.0m, spending 122% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $987k to $851k (-14%), an average of -3.6% a year. The sharpest change came in the year to December 2021, when income rose by 42%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Commonweal Theatre Company sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 76th percentile within MN. Charities of a similar size with the same main cause include Lincoln City Cultural Center Inc ($851k), Northeast Louisiana Childrens Museum Inc ($851k) and Family and Youth Institute Ofmichigan ($851k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Other salaries and wages came to $490k. At year end it held assets of $2.3m against liabilities of $656k, net assets of $1.6m. It reported 19 employees.