Theatre Charlotte Inc

Analysis

Theatre Charlotte Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 1936, 90 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, Theatre Charlotte Inc reported income of $1.3m and spending of $1.3m, spending 94% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $660k to $1.3m (+102%), an average of +19% a year. The sharpest change came in the year to June 2021, when income rose by 66%. Over the whole period it spent 78% 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 Charlotte 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 82nd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Federal City Performing Arts Association Inc ($1.3m), Dublin Arts Council ($1.3m) and Studio Art Quilt Assoc Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 30% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $79k (6.3% of expenses). Other salaries and wages came to $176k. At year end it held assets of $1.5m against liabilities of $348k, net assets of $1.2m. It reported 4 employees.