Meridian Little Theater

Analysis

Meridian Little Theater is a registered charity in United States, based in Meridian, MS. It received its IRS tax-exemption ruling in September 1952, 74 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, Meridian Little Theater reported income of $238k and spending of $269k, spending 113% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income grew from $237k to $238k (+0.3%), an average of +0.1% a year. The sharpest change came in the year to May 2022, when income rose by 22%. Over the whole period it spent 105% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Meridian Little Theater sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 59th percentile within MS. Charities of a similar size with the same main cause include Exposed Brick Theatre ($238k), Chesterfield Historical Society of Virginia ($238k) and Fund for Lachat Town Farm Inc ($238k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 35% and program service revenue 65% of the total. Compensation of current officers, directors and key employees was $35k (13% of expenses). Other salaries and wages came to $36k. At year end it held assets of $374k against liabilities of $5,077, net assets of $369k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.