Watertower Theatre Inc

Analysis

Watertower Theatre Inc is a registered charity in United States, based in Addison, TX. It received its IRS tax-exemption ruling in December 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 September 2022, Watertower Theatre Inc reported income of $749k and spending of $820k, spending 109% of what it took in. Across the 4 years on record, from September 2019 to September 2022, income fell from $1.1m to $749k (-31%), an average of -11% a year. 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, Watertower Theatre Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within TX. Charities of a similar size with the same main cause include Museum of Contemporary Art ($749k), Camp45 Contemporary ($749k) and Frank W Norris Foundation ($749k).

On its Form 990 for the period ending September 2022, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $76k (9.3% of expenses). Other salaries and wages came to $438k. At year end it held assets of $175k against liabilities of $201k, net assets of -$26k.