Commonwealth Theatre Center Inc

Analysis

Commonwealth Theatre Center Inc is a registered charity in United States, based in Louisville, KY. It received its IRS tax-exemption ruling in July 1977, 49 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 July 2023, Commonwealth Theatre Center Inc reported income of $881k and spending of $1.1m, spending 124% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.3m to $881k (-33%), an average of -9.5% a year. The sharpest change came in the year to July 2022, when income dropped by 31%. Over the whole period it spent 104% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Commonwealth Theatre Center Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 79th percentile within KY. Charities of a similar size with the same main cause include George C Marshall International Center Inc ($880k), Lightworks Collective Inc ($881k) and Grand Center for Arts & Culture Inc ($880k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 61% and program service revenue 40% of the total. Other salaries and wages came to $646k. It paid $16k in professional fundraising fees. At year end it held assets of $336k against liabilities of $290k, net assets of $47k. It reported 19 employees.