Friends of the Strand Theatre

Analysis

Friends of the Strand Theatre is a registered charity in United States, based in Rockland, ME. It received its IRS tax-exemption ruling in November 2013, 13 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 June 2023, Friends of the Strand Theatre reported income of $775k and spending of $1.0m, spending 135% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $783k to $775k (-1.0%), an average of -0.3% a year. The sharpest change came in the year to June 2022, when income rose by 47%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Friends of the Strand Theatre sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 73rd percentile within ME. Charities of a similar size with the same main cause include Faribault Art Center Inc ($774k), Maxville Heritage Interpretive Center ($775k) and Texas Energy Museum Inc ($774k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 50% and program service revenue 36% of the total. Other salaries and wages came to $454k. At year end it held assets of $782k against liabilities of $29k, net assets of $753k. It reported 14 employees.