Longmont Theatre Company

Analysis

Longmont Theatre Company is a registered charity in United States, based in Longmont, CO. It received its IRS tax-exemption ruling in May 1989, 37 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Longmont Theatre Company reported income of $225k and spending of $324k, spending 144% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $244k to $225k (-7.7%), an average of -2.0% a year. The sharpest change came in the year to June 2022, when income rose by 85%. Over the whole period it spent 117% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Longmont Theatre Company sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within CO. Charities of a similar size with the same main cause include Marthas Vineyard Art Assn Inc ($225k), Kankakee Valley Theatre Assn ($225k) and Chamber Orchestra of New York - Ottorino Respighi ($225k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 29% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $7,306 (2.3% of expenses). Other salaries and wages came to $34k. At year end it held assets of $472k against liabilities of $337k, net assets of $135k. It reported 6 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.