Virginia Stage Company

Analysis

Virginia Stage Company is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in July 1968, 58 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 June 2023, Virginia Stage Company reported income of $2.8m and spending of $3.4m, spending 125% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.6m to $2.8m (-24%), an average of -6.7% a year. The sharpest change came in the year to June 2021, when income dropped by 40%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Virginia Stage Company sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Association for Advancement of the Behavioral Therapies Inc ($2.8m), City Lore Inc ($2.8m) and Mahaiwe Performing Arts Center Inc ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 53% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $236k (6.8% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $7.3m against liabilities of $1.1m, net assets of $6.2m. It reported 126 employees.