Theatre Three Incorporated

Analysis

Theatre Three Incorporated is a registered charity in United States, based in Dallas, TX. It received its IRS tax-exemption ruling in July 1965, 61 years ago. 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 July 2023, Theatre Three Incorporated reported income of $764k and spending of $1.2m, spending 156% of what it took in. Across the 6 years on record, from April 2019 to July 2023, income fell from $922k to $764k (-17%), an average of -3.7% a year. The sharpest change came in the year to July 2020, when income rose by 449%. Over the whole period it spent 140% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Theatre Three Incorporated sits at the 74th percentile: it is larger than about 74% 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 Safety & Health Council of N H ($764k), Back-To-School Clothing Drive Association ($764k) and McDowell Technical Community College Foundation Incorporated ($764k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 54% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $162k (14% of expenses). Other salaries and wages came to $304k. At year end it held assets of $3.7m against liabilities of $4.0m, net assets of -$267k. It reported 40 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.