Essence Theatre-Studio

Analysis

Essence Theatre-Studio is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in March 2019, 7 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 September 2023, Essence Theatre-Studio reported income of $167k and spending of $156k, spending 93% of its income. Across the 2 years on record, from September 2022 to September 2023, income fell from $174k to $167k (-3.9%), an average of -3.9% a year. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Essence Theatre-Studio sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 47th percentile within NY. Charities of a similar size with the same main cause include University Consortium for Geographic Information Science ($167k), Amherst Downtown & Betterment Association ($167k) and Vangeline Theater Inc ($167k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. At year end it held assets of $14k against liabilities of $0, net assets of $14k.