Community Theatre of Cedar Rapids Inc

Analysis

Community Theatre of Cedar Rapids Inc is a registered charity in United States, based in Cedar Rapids, IA. It received its IRS tax-exemption ruling in March 1950, 76 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 July 2023, Community Theatre of Cedar Rapids Inc reported income of $2.5m and spending of $3.1m, spending 125% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income grew from $2.0m to $2.5m (+23%), an average of +5.2% a year. The sharpest change came in the year to July 2022, when income rose by 238%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Community Theatre of Cedar Rapids Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within IA. Charities of a similar size with the same main cause include Music Center Foundation ($2.5m), Greenwich Historical Society Inc ($2.5m) and Northeast Radio Observatory Corporation ($2.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 45% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $134k (4.3% of expenses). Other salaries and wages came to $894k. At year end it held assets of $3.1m against liabilities of $1.2m, net assets of $1.9m. It reported 42 employees.