Admiral Theatre Foundation

Analysis

Admiral Theatre Foundation is a registered charity in United States, based in Bremerton, WA. It received its IRS tax-exemption ruling in April 1995, 31 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 August 2023, Admiral Theatre Foundation reported income of $2.3m and spending of $2.5m, spending 105% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $2.4m to $2.3m (-2.5%), an average of -0.6% a year. The sharpest change came in the year to August 2022, when income rose by 98%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Admiral Theatre Foundation sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within WA. Charities of a similar size with the same main cause include Emelin Theatre for the Performing Arts Inc ($2.3m), Salmagundi Club ($2.3m) and Minnpost ($2.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 39% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $134k (5.4% of expenses). Other salaries and wages came to $649k. At year end it held assets of $6.5m against liabilities of $682k, net assets of $5.8m. It reported 58 employees.