Wellesley Theatre Project Inc

Analysis

Wellesley Theatre Project Inc is a registered charity in United States, based in Wellesley, MA. It received its IRS tax-exemption ruling in April 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wellesley Theatre Project Inc reported income of $1.1m and spending of $1.1m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $799k to $1.1m (+33%), an average of +7.3% a year. The sharpest change came in the year to December 2022, when income rose by 45%. 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, Wellesley Theatre Project Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MA. Charities of a similar size with the same main cause include Freedoms Frontier National Heritage Area Inc ($1.1m), Kovno Communications Inc ($1.1m) and Junction City Opera House Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $137k (13% of expenses). Other salaries and wages came to $98k. At year end it held assets of $1.3m against liabilities of $1.1m, net assets of $143k. It reported 4 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.