Ocean Community United Theatre Inc

Analysis

Ocean Community United Theatre Inc is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in January 2015, 11 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, Ocean Community United Theatre Inc reported income of $2.3m and spending of $2.2m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.6m to $2.3m (-59%), an average of -20% a year. The sharpest change came in the year to December 2020, when income dropped by 72%. Over the whole period it spent 41% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ocean Community United Theatre Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 83rd percentile within RI. Charities of a similar size with the same main cause include Sultana Education Foundation Inc ($2.3m), Maui County Community Television Inc ($2.3m) and Mississippi Symphony Orchestra Association ($2.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 57% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $127k (5.8% of expenses). Other salaries and wages came to $645k. At year end it held assets of $17.3m against liabilities of $1.6m, net assets of $15.7m. It reported 34 employees.