Little Theatre of Norfolk

Analysis

Little Theatre of Norfolk is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in May 2023, 3 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 2024, Little Theatre of Norfolk reported income of $178k and spending of $174k, spending 98% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $118k to $178k (+51%), an average of +8.6% a year. The sharpest change came in the year to June 2023, when income rose by 206%. Over the whole period it spent 107% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Little Theatre of Norfolk sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 51st percentile within VA. Charities of a similar size with the same main cause include Oaklash ($178k), Paderewski Symphony Orchestra ($178k) and Octagon Center for the Arts ($178k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 28% and program service revenue 69% of the total. At year end it held assets of $504k against liabilities of $7,298, net assets of $497k.