Heartwood Regional Theater Company

Analysis

Heartwood Regional Theater Company is a registered charity in United States, based in Damariscotta, ME. It received its IRS tax-exemption ruling in December 2003, 23 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 August 2024, Heartwood Regional Theater Company reported income of $186k and spending of $180k, spending 96% of its income. Across the 6 years on record, from August 2019 to August 2024, income fell from $239k to $186k (-22%), an average of -4.8% a year. The sharpest change came in the year to August 2021, when income rose by 35%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Heartwood Regional Theater Company sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 45th percentile within ME. Charities of a similar size with the same main cause include Dayton Peace Museum ($186k), DW Music Foundation Inc ($186k) and Thingamajigs ($186k).

On its Form 990 for the period ending August 2024, revenue came from contributions and grants 57% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $97k (54% of expenses). Other salaries and wages came to $13k. At year end it held assets of $9,542 against liabilities of $22k, net assets of -$13k. It reported 7 employees.