The Magik Theatre

Analysis

The Magik Theatre is a registered charity in United States, based in San Antonio, TX. It received its IRS tax-exemption ruling in October 1995, 31 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, The Magik Theatre reported income of $2.3m and spending of $2.4m, spending 102% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $2.5m to $2.3m (-6.6%), an average of -1.7% a year. The sharpest change came in the year to September 2020, when income dropped by 28%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, The Magik Theatre sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Huntsville Museum of Art ($2.3m), Fall River Historical Society ($2.3m) and Italian American Committee on Education Inc ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 68% and program service revenue 27% of the total. Compensation of current officers, directors and key employees was $102k (4.2% of expenses). Other salaries and wages came to $1.2m. At year end it held assets of $820k against liabilities of $341k, net assets of $480k. It reported 100 employees.