Hits Theatre

Analysis

Hits Theatre is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in February 1981, 45 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Hits Theatre reported income of $886k and spending of $775k, spending 87% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $953k to $886k (-7.1%), an average of -1.8% a year. The sharpest change came in the year to September 2023, when income rose by 44%. Over the whole period it spent 101% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hits Theatre 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 82nd percentile within TX. Charities of a similar size with the same main cause include Playhouse Artists ($885k), Balletcollective Inc ($886k) and Wyo Theatre Inc ($885k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 48% and program service revenue 49% of the total. Compensation of current officers, directors and key employees was $87k (11% of expenses). Other salaries and wages came to $245k. At year end it held assets of $458k against liabilities of $173k, net assets of $284k. It reported 10 employees.