Asolo Theater Inc

Analysis

Asolo Theater Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in September 1987, 39 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, Asolo Theater Inc reported income of $11.8m and spending of $12.6m, spending 107% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $13.0m to $11.8m (-9.8%), an average of -2.6% a year. The sharpest change came in the year to June 2023, when income dropped by 29%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asolo Theater Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within FL. Charities of a similar size with the same main cause include Virginia Historical Society ($11.7m), Women Make Movies Inc ($11.8m) and Merit School of Music ($11.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 47% and program service revenue 50% of the total. Compensation of current officers, directors and key employees was $735k (5.8% of expenses). Other salaries and wages came to $5.8m. At year end it held assets of $46.0m against liabilities of $2.4m, net assets of $43.6m. It reported 263 employees.