Hippodrome State Theatre Inc

Analysis

Hippodrome State Theatre Inc is a registered charity in United States, based in Gainesville, FL. It received its IRS tax-exemption ruling in October 1975, 51 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 May 2023, Hippodrome State Theatre Inc reported income of $1.4m and spending of $1.7m, spending 124% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $2.0m to $1.4m (-32%), an average of -9.1% a year. The sharpest change came in the year to May 2022, when income rose by 124%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hippodrome State Theatre Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 85th percentile within FL. Charities of a similar size with the same main cause include Michigan School Band & Orchestra Association Inc ($1.4m), Anns Circle Inc ($1.4m) and Circuit Arts Inc ($1.4m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 43% and program service revenue 50% of the total. Other salaries and wages came to $855k. At year end it held assets of $474k against liabilities of $156k, net assets of $317k. It reported 76 employees.