Fargo Theatre Management Corporation

Analysis

Fargo Theatre Management Corporation is a registered charity in United States, based in Fargo, ND. It received its IRS tax-exemption ruling in May 1984, 42 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 May 2023, Fargo Theatre Management Corporation reported income of $554k and spending of $693k, spending 125% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $591k to $554k (-6.3%), an average of -1.6% a year. The sharpest change came in the year to May 2022, when income rose by 156%. 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, Fargo Theatre Management Corporation sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within ND. Charities of a similar size with the same main cause include Leadership Fairfax Incorporated ($554k), Bag and Baggage Productions ($554k) and Redwood Community Radio Inc ($554k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 27% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $85k (12% of expenses). Other salaries and wages came to $150k. At year end it held assets of $1.7m against liabilities of $378k, net assets of $1.4m. It reported 33 employees.