Chelsea Art Theater Inc

Analysis

Chelsea Art Theater Inc is a registered charity in United States, based in Chapel Hill, NC. It received its IRS tax-exemption ruling in September 2018, 8 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, Chelsea Art Theater Inc reported income of $631k and spending of $609k, spending 97% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $474k to $631k (+33%), an average of +5.9% a year. The sharpest change came in the year to December 2021, when income rose by 53%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Chelsea Art Theater Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Sequoia Symphony Orchestra ($631k), Art with a Heart in Healthcare Inc ($631k) and Tu Dance ($631k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 74% of the total. Compensation of current officers, directors and key employees was $48k (7.9% of expenses). At year end it held assets of $441k against liabilities of $90k, net assets of $352k. It reported 12 employees.