Friends of Kentucky Theatre

Analysis

Friends of Kentucky Theatre is a registered charity in United States, based in Lexington, KY. It received its IRS tax-exemption ruling in May 2022, 4 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Friends of Kentucky Theatre reported income of $1.7m and spending of $1.5m, spending 89% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $1.2m to $1.7m (+42%), an average of +42% a year. The sharpest change came in the year to December 2023, when income rose by 42%. Over the whole period it spent 90% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends of Kentucky Theatre sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within KY. Charities of a similar size with the same main cause include Remington Court Foundation ($1.7m), Oasis Fresh Foundation ($1.7m) and Hospital for Special Care Foundation Inc ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 8.7% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $55k (3.6% of expenses). Other salaries and wages came to $154k. At year end it held assets of $362k against liabilities of $0, net assets of $362k. It reported 8 employees.