Florence Little Theatre

Analysis

Florence Little Theatre is a registered charity in United States, based in Florence, SC. It received its IRS tax-exemption ruling in February 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, Florence Little Theatre reported income of $482k and spending of $813k, spending 169% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $590k to $482k (-18%), an average of -4.9% a year. The sharpest change came in the year to June 2023, when income rose by 107%. Over the whole period it spent 178% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florence Little Theatre sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 74th percentile within SC. Charities of a similar size with the same main cause include Historical Society of Cheshire Cty ($482k), Franklin Civic Operetta Assoc ($482k) and Diplomacy Center Foundation ($482k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 62% of the total. Compensation of current officers, directors and key employees was $50k (6.1% of expenses). Other salaries and wages came to $100k. At year end it held assets of $7.5m against liabilities of $87k, net assets of $7.5m. It reported 8 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.