Venice Theatre Inc

Analysis

Venice Theatre Inc is a registered charity in United States, based in Venice, FL. It received its IRS tax-exemption ruling in June 1964, 62 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, Venice Theatre Inc reported income of $4.1m and spending of $4.1m, spending 100% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.4m to $4.1m (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2022, when income rose by 153%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Venice Theatre Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within FL. Charities of a similar size with the same main cause include Cafe 1040 Inc ($4.1m), Navy Museum Development Foundation ($4.1m) and Albuquerque Museum Foundation Inc ($4.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 64% and program service revenue 33% of the total. Compensation of current officers, directors and key employees was $142k (3.5% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $7.3m against liabilities of $1.9m, net assets of $5.4m. It reported 32 employees.