Spencer Community Theatre Inc

Analysis

Spencer Community Theatre Inc is a registered charity in United States, based in Spencer, IA. It received its IRS tax-exemption ruling in December 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, Spencer Community Theatre Inc reported income of $183k and spending of $335k, spending 183% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $243k to $183k (-25%), an average of -6.9% a year. The sharpest change came in the year to August 2021, when income rose by 68%. Over the whole period it spent 140% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Spencer Community Theatre Inc sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 52nd percentile within IA. Charities of a similar size with the same main cause include The Oyster Bay Railroad Museum ($183k), Whitehead Memorial Museum ($183k) and Historic Draper Playhouse ($183k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 36% and program service revenue 54% of the total. Other salaries and wages came to $139k. At year end it held assets of $1.5m against liabilities of $111k, net assets of $1.4m. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.