Asbury Park Theater Company

Analysis

Asbury Park Theater Company is a registered charity in United States, based in Ocean Grove, NJ. It received its IRS tax-exemption ruling in June 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 December 2023, Asbury Park Theater Company reported income of $126k and spending of $223k, spending 177% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $297k to $126k (-57%), an average of -58% a year. The sharpest change came in the year to December 2023, when income dropped by 57%. Over the whole period it spent 87% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Asbury Park Theater Company sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 51st percentile within NJ. Charities of a similar size with the same main cause include Brazilian Community Heritage Foundation Corp ($126k), Community Design Center Rochester Inc ($126k) and Warren Italian American Festival Committee Inc ($126k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 24% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $39k (18% of expenses). Other salaries and wages came to $5,042. At year end it held assets of $87k against liabilities of $0, net assets of $87k.