Foundation for the Preservation of the Historic Millet Opera House

Analysis

Foundation for the Preservation of the Historic Millet Opera House is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in August 2018, 8 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 December 2023, Foundation for the Preservation of the Historic Millet Opera House reported income of $326k and spending of $454k, spending 139% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $200k to $326k (+63%), an average of +13% a year. The sharpest change came in the year to December 2022, when income rose by 292%. Over the whole period it spent 132% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Foundation for the Preservation of the Historic Millet Opera House sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 68th percentile within TX. Charities of a similar size with the same main cause include Ocean City Theatre Company ($326k), New Orleans Jazz Orchestra Inc ($326k) and LA Raza Historical Society of Santa Clara Valley ($326k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% and program service revenue 77% of the total. Other salaries and wages came to $67k. At year end it held assets of $3.5m against liabilities of $3.4m, net assets of $122k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.