Lubbock Community Theatre Inc

Analysis

Lubbock Community Theatre Inc is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in November 1989, 37 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 June 2023, Lubbock Community Theatre Inc reported income of $505k and spending of $611k, spending 121% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $211k to $505k (+140%), an average of +34% a year. The sharpest change came in the year to June 2022, when income rose by 147%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lubbock Community Theatre Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within TX. Charities of a similar size with the same main cause include International Association for Dance Medicine and Science Inc ($505k), Childrens Theatre of Annapolis Inc ($505k) and Friends of the International Chinese Snuff Bottle Society Inc ($504k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $49k (8.0% of expenses). Other salaries and wages came to $158k. At year end it held assets of $1.0m against liabilities of $994k, net assets of $49k.