Miami Theater Center Inc

Analysis

Miami Theater Center Inc is a registered charity in United States, based in Miami Shores, FL. It received its IRS tax-exemption ruling in January 2008, 18 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 September 2023, Miami Theater Center Inc reported income of $1.0m and spending of $934k, spending 91% of its income. Across the 5 years on record, from June 2020 to September 2023, income fell from $1.1m to $1.0m (-3.8%), an average of -1.0% a year. The sharpest change came in the year to September 2023, when income rose by 485%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Miami Theater Center Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include North Carolina Folk Festival ($1.0m), Swift Creek Mill Theatre Inc ($1.0m) and Illinois Press Foundation Inc ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 48% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $130k (14% of expenses). Other salaries and wages came to $228k. At year end it held assets of $800k against liabilities of $123k, net assets of $677k. It reported 28 employees.