Olney Theatre Corporation

Analysis

Olney Theatre Corporation is a registered charity in United States, based in Olney, MD. It received its IRS tax-exemption ruling in June 1979, 47 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 July 2023, Olney Theatre Corporation reported income of $11.9m and spending of $8.2m, leaving 31% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $11.4m to $11.9m (+4.1%), an average of +1.0% a year. The sharpest change came in the year to July 2021, when income rose by 37%. Over the whole period it spent 60% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Olney Theatre Corporation 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 95th percentile within MD. Charities of a similar size with the same main cause include Ps1 Contemporary Art Center Inc ($11.9m), Center for Action and Contemplation Inc ($11.9m) and Hale Center Foundation for the Arts and Education ($11.9m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 71% and program service revenue 26% of the total. Compensation of current officers, directors and key employees was $396k (4.8% of expenses). Other salaries and wages came to $4.1m. At year end it held assets of $24.2m against liabilities of $2.2m, net assets of $22.1m. It reported 329 employees.