Lobero Theatre Foundation

Analysis

Lobero Theatre Foundation is a registered charity in United States, based in Santa Barbara, CA. It received its IRS tax-exemption ruling in December 1938, 88 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 May 2023, Lobero Theatre Foundation reported income of $5.2m and spending of $4.6m, spending 88% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $3.3m to $5.2m (+60%), an average of +12% a year. The sharpest change came in the year to May 2022, when income rose by 169%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lobero Theatre Foundation sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within CA. Charities of a similar size with the same main cause include The Arts Connection Inc ($5.2m), Colorado Public Television Inc ($5.2m) and National Coast Guard Museum Association Inc ($5.2m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 62% and program service revenue 37% of the total. Compensation of current officers, directors and key employees was $214k (4.7% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $14.1m against liabilities of $2.7m, net assets of $11.4m. It reported 91 employees.