Key West Theater and Community Stage

Analysis

Key West Theater and Community Stage is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in October 2019, 7 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 September 2023, Key West Theater and Community Stage reported income of $501k and spending of $710k, spending 142% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $578k to $501k (-13%), an average of -3.5% a year. The sharpest change came in the year to September 2020, when income dropped by 31%. Over the whole period it spent 119% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Key West Theater and Community Stage sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 73rd percentile within FL. Charities of a similar size with the same main cause include Metropolitan Ensemble Theatre ($501k), Broadway School of Music & the Arts ($501k) and Little Theatre of New Smyrna Beach Inc 726 Third Ave ($501k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 3.5% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $67k (9.5% of expenses). Other salaries and wages came to $169k. At year end it held assets of $791k against liabilities of $328k, net assets of $463k. It reported 37 employees.