Prospect Theater Project

Analysis

Prospect Theater Project is a registered charity in United States, based in Modesto, CA. It received its IRS tax-exemption ruling in May 2001, 25 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, Prospect Theater Project reported income of $330k and spending of $323k, spending 98% of its income. Across the 2 years on record, from August 2022 to August 2023, income grew from $296k to $330k (+12%), an average of +12% a year. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Prospect Theater Project sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 65th percentile within CA. Charities of a similar size with the same main cause include Scoundrel and Scamp Theatre Inc ($330k), Lower Adirondack Regional Arts Council Inc ($330k) and Museum Association of East Muskingum ($330k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 56% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $69k (21% of expenses). Other salaries and wages came to $41k. At year end it held assets of $264k against liabilities of $60k, net assets of $204k. It reported 10 employees.