First Floor Theater

Analysis

First Floor Theater is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in May 2014, 12 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 June 2024, First Floor Theater reported income of $140k and spending of $93k, leaving 33% of income unspent that year. Across the 2 years on record, from June 2023 to June 2024, income grew from $87k to $140k (+61%), an average of +60% a year. The sharpest change came in the year to June 2024, when income rose by 61%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, First Floor Theater sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 46th percentile within IL. Charities of a similar size with the same main cause include Russian Arts Theater & Studio Inc ($140k), Shandalee Music Festival ($140k) and Alabama Music Educators Association ($140k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 90% and program service revenue 10% of the total. At year end it held assets of $47k against liabilities of $7,490, net assets of $39k.