Legacy Theatre

Analysis

Legacy Theatre is a registered charity in United States, based in Branford, CT. It received its IRS tax-exemption ruling in August 2012, 14 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, Legacy Theatre reported income of $2.5m and spending of $1.7m, leaving 32% of income unspent that year. Across the 6 years on record, from June 2019 to December 2023, income grew from $1.2m to $2.5m (+106%), an average of +16% a year. The sharpest change came in the year to December 2021, when income rose by 513%. Over the whole period it spent 74% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Legacy Theatre 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 86th percentile within CT. Charities of a similar size with the same main cause include Weston Ranch Foundation ($2.5m), Tallahassee Museum of History and Natural Science Inc ($2.5m) and International Association for Cryptologic Research ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 46% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $183k (11% of expenses). Other salaries and wages came to $349k. It paid $1,400 in professional fundraising fees. At year end it held assets of $5.3m against liabilities of $3.3m, net assets of $2.0m. It reported 40 employees.