Prospect Theater Company Inc

Analysis

Prospect Theater Company Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in September 1998, 28 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 2023, Prospect Theater Company Inc reported income of $494k and spending of $652k, spending 132% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $827k to $494k (-40%), an average of -12% a year. The sharpest change came in the year to August 2021, when income dropped by 34%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Prospect Theater Company Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Aspen Journalism ($494k), Electronic Music Education & Preservation Project ($494k) and Open Research Lab Inc ($494k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 71% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $66k (10% of expenses). Other salaries and wages came to $138k. At year end it held assets of $57k against liabilities of $59k, net assets of -$1,289. It reported 45 employees.