Midland Community Theatre Inc

Analysis

Midland Community Theatre Inc is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in July 1947, 79 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 December 2023, Midland Community Theatre Inc reported income of $3.7m and spending of $2.7m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.2m to $3.7m (+72%), an average of +15% a year. The sharpest change came in the year to December 2021, when income rose by 99%. Over the whole period it spent 59% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Midland Community Theatre Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 93rd percentile within TX. Charities of a similar size with the same main cause include Organizers Institute South and West Iaf ($3.7m), Edventure Inc ($3.7m) and Science Museum of Virginia Foundation Incorporated ($3.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 44% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $110k (4.0% of expenses). Other salaries and wages came to $694k. At year end it held assets of $12.2m against liabilities of $872k, net assets of $11.3m. It reported 30 employees.