Virginia Musical Theatre Inc

Analysis

Virginia Musical Theatre Inc is a registered charity in United States, based in Virginia BCH, VA. It received its IRS tax-exemption ruling in August 1991, 35 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, Virginia Musical Theatre Inc reported income of $1.2m and spending of $1.2m, spending 102% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $822k to $1.2m (+47%), an average of +10% a year. The sharpest change came in the year to June 2022, when income rose by 57%. Over the whole period it spent 99% 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 Musical Theatre Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within VA. Charities of a similar size with the same main cause include The Arrowhead Regional Arts Council ($1.2m), White Bird ($1.2m) and Los Cenzontles Mexican Arts Center ($1.2m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 36% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $77k (6.2% of expenses). Other salaries and wages came to $29k. At year end it held assets of $328k against liabilities of $797k, net assets of -$468k. It reported 63 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.