Levelland Wallace Theater

Analysis

Levelland Wallace Theater is a registered charity in United States, based in Levelland, TX. It received its IRS tax-exemption ruling in October 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, Levelland Wallace Theater reported income of $2.1m and spending of $376k, leaving 82% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $130k to $2.1m (+1494%), an average of +100% a year. The sharpest change came in the year to December 2021, when income rose by 131%. Over the whole period it spent 28% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Levelland Wallace Theater 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 86th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Latino Cultural Arts Center ($2.1m), Billie Holiday Theatre Incorporated ($2.1m) and International Print Center New York ($2.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 3.5% of the total. Compensation of current officers, directors and key employees was $50k (13% of expenses). Other salaries and wages came to $76k. At year end it held assets of $3.2m against liabilities of $257k, net assets of $3.0m. It reported 7 employees.