Elys Historic State Theater

Analysis

Elys Historic State Theater is a registered charity in United States, based in Ely, MN. It received its IRS tax-exemption ruling in February 2020, 6 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, Elys Historic State Theater reported income of $417k and spending of $478k, spending 115% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $249k to $417k (+67%), an average of +14% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 82% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Elys Historic State Theater 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 67th percentile, and in the 66th percentile within MN. Charities of a similar size with the same main cause include Suffolk County Historical Society ($417k), Lakota Communications Inc ($417k) and Lake Country Playhouse ($417k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.6% and program service revenue 88% of the total. Other salaries and wages came to $85k. At year end it held assets of $314k against liabilities of $8,888, net assets of $305k.