Perseverance Theatre Incorporated

Analysis

Perseverance Theatre Incorporated is a registered charity in United States, based in Douglas, AK. It received its IRS tax-exemption ruling in August 1979, 47 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 June 2023, Perseverance Theatre Incorporated reported income of $986k and spending of $1.2m, spending 118% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $1.7m to $986k (-43%), an average of -13% a year. The sharpest change came in the year to June 2020, when income dropped by 31%. Over the whole period it spent 103% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Perseverance Theatre Incorporated 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 79th percentile, and in the 77th percentile within AK. Charities of a similar size with the same main cause include St Patricks Day Foundation NYC ($986k), Telluride Society for Jazz ($986k) and Museum of Contemporary Art of Georgia Inc ($986k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 77% and program service revenue 18% of the total. Compensation of current officers, directors and key employees was $120k (10% of expenses). Other salaries and wages came to $529k. At year end it held assets of $729k against liabilities of $291k, net assets of $438k. It reported 75 employees.