Spellbound Theatre Inc

Analysis

Spellbound Theatre Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in April 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 June 2024, Spellbound Theatre Inc reported income of $104k and spending of $106k, spending 102% of its income. Across the 2 years on record, from June 2023 to June 2024, income fell from $230k to $104k (-55%), an average of -55% a year. The sharpest change came in the year to June 2024, when income dropped by 55%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Spellbound Theatre Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 38th percentile, and in the 37th percentile within NY. Charities of a similar size with the same main cause include Sun Sounds Foundation ($104k), Metropolitan Ballet Inc ($104k) and Concert Nova Inc ($104k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% and program service revenue 0.9% of the total. Other salaries and wages came to $66k. At year end it held assets of $69k against liabilities of $3,875, net assets of $65k. It reported 27 employees.