Irving Community Theater Inc

Analysis

Irving Community Theater Inc is a registered charity in United States, based in Irving, TX. It received its IRS tax-exemption ruling in October 1978, 48 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 August 2023, Irving Community Theater Inc reported income of $265k and spending of $324k, spending 122% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $361k to $265k (-27%), an average of -7.5% a year. The sharpest change came in the year to August 2021, when income dropped by 20%. 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, Irving Community Theater Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 59th percentile, and in the 63rd percentile within TX. Charities of a similar size with the same main cause include Tifton Council for the Arts Inc ($265k), Yeiser Art Center Inc ($265k) and Knoxville History Project ($265k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. Other salaries and wages came to $24k. At year end it held assets of $112k against liabilities of $32k, net assets of $80k. It reported 2 employees.