Legacy Theater Foundation Inc

Analysis

Legacy Theater Foundation Inc is a registered charity in United States, based in Carthage, IL. It received its IRS tax-exemption ruling in March 2016, 10 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, Legacy Theater Foundation Inc reported income of $274k and spending of $249k, spending 91% of its income. Across the 4 years on record, from December 2019 to December 2023, income fell from $421k to $274k (-35%), an average of -13% a year. The sharpest change came in the year to December 2021, when income dropped by 27%. Over the whole period it spent 75% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Legacy Theater Foundation 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 60th percentile, and in the 60th percentile within IL. Charities of a similar size with the same main cause include Tovrea Carraro Society ($274k), San Diego Academy of Ballet & Ballet Theatre ($274k) and Craven Arts Council and Gallery Inc ($274k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $43k (17% of expenses). At year end it held assets of $4.4m against liabilities of $60k, net assets of $4.3m.