Steppenwolf Theater Co

Analysis

Steppenwolf Theater Co is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in August 1976, 50 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 August 2023, Steppenwolf Theater Co reported income of $12.2m and spending of $22.3m, spending 182% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $29.8m to $12.2m (-59%), an average of -20% a year. The sharpest change came in the year to August 2022, when income rose by 175%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Steppenwolf Theater Co sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within IL. Charities of a similar size with the same main cause include Society of the Third Street Music School Settlement Inc ($12.2m), Virginia Health Information ($12.2m) and American Association of Physicists in Medicine ($12.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 54% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $1.0m (4.7% of expenses). Other salaries and wages came to $8.9m. It paid $102k in professional fundraising fees. At year end it held assets of $112.9m against liabilities of $55.8m, net assets of $57.2m. It reported 385 employees.