Lucas Theatre for the Arts Inc

Analysis

Lucas Theatre for the Arts Inc is a registered charity in United States, based in Savannah, GA. It received its IRS tax-exemption ruling in February 1988, 38 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Lucas Theatre for the Arts Inc reported income of $382k and spending of $1.2m, spending 317% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $597k to $382k (-36%), an average of -11% a year. The sharpest change came in the year to June 2020, when income dropped by 33%. Over the whole period it spent 202% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lucas Theatre for the Arts Inc sits at the 73rd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 70th percentile within GA. Charities of a similar size with the same main cause include Arizona Local Post ($382k), Foundation for Arts and Cultural Connections Inc ($382k) and Iowa Arts in Education ($382k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 78% of the total. Other salaries and wages came to $178k. At year end it held assets of $6.5m against liabilities of $3.1m, net assets of $3.4m.

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.