Theatre Lab

Analysis

Theatre Lab is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 1994, 32 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, Theatre Lab reported income of $1.7m and spending of $1.8m, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $1.7m (+18%), an average of +4.3% a year. The sharpest change came in the year to December 2021, when income rose by 34%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Theatre Lab sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 64th percentile within DC. Charities of a similar size with the same main cause include South Carolina Ballet Inc ($1.7m), Heckscher Museum ($1.7m) and Military Aviation Museum ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $276k (16% of expenses). Other salaries and wages came to $596k. At year end it held assets of $2.5m against liabilities of $1.4m, net assets of $1.2m. It reported 65 employees.