Colonial Theatre School Inc
Colonial Theatre School: Strong Program Spending, but Declining Assets Raise Questions
EIN: 222629373 · Westerly, RI · NTEE: A6E0 · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $367K |
| Total Expenses | $317K |
| Program Spending | 87% |
| CEO/Top Officer Pay | $0 |
| Net Assets | $21K |
| Transparency Score | 75/100 |
Is Colonial Theatre School Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Colonial Theatre School Inc directs 87% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Colonial Theatre School Inc
Colonial Theatre School Inc (EIN: 222629373) is a nonprofit organization based in Westerly, RI, classified under NTEE code A6E0. The organization reported total revenue of $367K and total assets of $71K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Colonial Theatre School Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Colonial Theatre School Inc is a small nonprofit that has been operating for 41 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 12.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $302K |
| Total Expenses | $317K |
| Surplus / Deficit | $-14,298 |
| Total Assets | $21K |
| Net Assets | $21K |
| Operating Margin | -4.7% |
| Months of Reserves | 0.8 months |
Financial Health Grade: C
In 2023, Colonial Theatre School Inc reported a deficit of $14K with expenses exceeding revenue, holds 0.8 months of operating reserves (limited).
Financial Trends
Over 13 years of filings (2011–2023), Colonial Theatre School Inc's revenue has grown at a compound annual growth rate (CAGR) of 12.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +34.1% | +18.9% | -40.2% |
| 2022 | +5.6% | +26.6% | -58.9% |
| 2021 | +193.1% | +265.0% | +3.6% |
| 2020 | -71.1% | -71.4% | +22.2% |
| 2019 | +438.7% | +439.8% | +762.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1985 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Colonial Theatre School Inc with a Mission Score of 75 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 87%
- fundraising: 8%
According to IRS 990 filings, Colonial Theatre School Inc allocates its expenses as follows: admin: 5%, programs: 87%, fundraising: 8%. With 87% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $14K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is reported as $0 across all available filings, suggesting a fully volunteer-run leadership, which is commendable for maximizing program funds.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Colonial Theatre School Inc's IRS 990 filings:
- Total assets have significantly declined from $86,508 in 2021 to $21,294 in 2023, raising concerns about long-term financial stability.
- Expenses have exceeded revenue in multiple recent years (e.g., 2023: revenue $302,438 vs. expenses $316,736; 2022: revenue $225,489 vs. expenses $266,405), indicating a reliance on prior reserves or other funding sources not immediately apparent.
- The organization's liabilities have consistently been reported as $0, which is unusual for an active nonprofit and could indicate incomplete reporting or a very lean operational model.
Strengths
The following positive indicators were identified for Colonial Theatre School Inc:
- A very high percentage of spending is allocated to programs (87%), demonstrating a strong commitment to its mission.
- Administrative and fundraising costs are kept very low (5% and 8% respectively), indicating efficient operations.
- The organization has consistently maintained a presence and delivered services over several years, as evidenced by continuous filings.
Frequently Asked Questions about Colonial Theatre School Inc
Is Colonial Theatre School Inc a legitimate charity?
Colonial Theatre School Inc (EIN: 222629373) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $367K. 3 red flags identified. 3 strengths noted. Financial health grade: C.
How does Colonial Theatre School Inc spend its money?
Colonial Theatre School Inc directs 87% of its spending to programs and services. Fundraising costs 8%. This exceeds the 65% industry benchmark.
Are donations to Colonial Theatre School Inc tax-deductible?
Colonial Theatre School Inc is registered as a tax-exempt nonprofit (EIN: 222629373). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Colonial Theatre School Inc CEO make?
Colonial Theatre School Inc's highest-compensated officer earns $0 annually. The organization reported $367K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Colonial Theatre School Inc's spending goes to programs?
Colonial Theatre School Inc directs 87% to programs, 8% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Colonial Theatre School Inc compare to similar nonprofits?
With a transparency score of 75/100 (Good), Colonial Theatre School Inc is above average for NTEE category A6E0 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Colonial Theatre School Inc located?
Colonial Theatre School Inc is headquartered in Westerly, Rhode Island and files with the IRS under EIN 222629373. It is classified under NTEE code A6E0.
How many years of IRS 990 filings does Colonial Theatre School Inc have?
Colonial Theatre School Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $367K in total revenue.
What does Colonial Theatre School Inc do?
Colonial Theatre School Inc is a nonprofit organization in the Arts, Culture & Humanities sector, located in Westerly, Rhode Island. It is classified under NTEE code A6E0.
How much revenue does Colonial Theatre School Inc have?
Colonial Theatre School Inc reported total revenue of $366,780. Based on 13 IRS 990 filings on record.
What are Colonial Theatre School Inc's total assets?
Colonial Theatre School Inc holds total assets of $70,750 as reported in IRS 990 filings.
Where is Colonial Theatre School Inc located?
Colonial Theatre School Inc is based in Westerly, Rhode Island.
What is Colonial Theatre School Inc's EIN?
Colonial Theatre School Inc's Employer Identification Number (EIN) is 222629373. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Colonial Theatre School Inc?
Colonial Theatre School Inc is classified under NTEE code A6E0 (Arts, Culture & Humanities).
Is Colonial Theatre School Inc a registered 501(c)(3)?
Yes, Colonial Theatre School Inc is recognized as a tax-exempt organization by the IRS. EIN: 222629373.
Does Colonial Theatre School Inc file IRS Form 990?
Yes, Colonial Theatre School Inc has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Colonial Theatre School Inc's revenue in 2023?
In the 202312 filing period, Colonial Theatre School Inc reported total revenue of $302,438, total expenses of $316,736, and net assets of $21,294.
Is Colonial Theatre School Inc's revenue growing or declining?
Colonial Theatre School Inc's revenue is growing. Revenue went from $225,489 (202212) to $302,438 (202312), a +34.1% change. Based on 13 filings on record.
What is Colonial Theatre School Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Colonial Theatre School Inc covers tax period 202312. It shows revenue of $302,438, expenses of $316,736, total assets of $21,294, and liabilities of N/A.
How much does Colonial Theatre School Inc spend on programs vs administration?
Based on IRS 990 analysis, Colonial Theatre School Inc allocates approximately 87% of expenses to program services, 5% to administrative costs, and 8% to fundraising. This indicates strong program focus.
Is Colonial Theatre School Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Colonial Theatre School Inc appears trustworthy. Mission Score: 75/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Colonial Theatre School Inc?
The following concerns were identified: Total assets have significantly declined from $86,508 in 2021 to $21,294 in 2023, raising concerns about long-term financial stability.. Expenses have exceeded revenue in multiple recent years (e.g., 2023: revenue $302,438 vs. expenses $316,736; 2022: revenue $225,489 vs. expenses $266,405), indicating a reliance on prior reserves or other funding sources not immediately apparent.. The organization's liabilities have consistently been reported as $0, which is unusual for an active nonprofit and could indicate incomplete reporting or a very lean operational model.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Colonial Theatre School Inc's strengths?
Positive indicators for Colonial Theatre School Inc include: A very high percentage of spending is allocated to programs (87%), demonstrating a strong commitment to its mission.. Administrative and fundraising costs are kept very low (5% and 8% respectively), indicating efficient operations.. The organization has consistently maintained a presence and delivered services over several years, as evidenced by continuous filings.. These findings are derived from AI analysis of the organization's financial filings.
How does Colonial Theatre School Inc compensate executives?
Executive compensation is reported as $0 across all available filings, suggesting a fully volunteer-run leadership, which is commendable for maximizing program funds. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
Given the consistent reporting of $0 in liabilities, how does Colonial Theatre School manage its operational cash flow and any short-term obligations?
The consistent $0 liability reporting is unusual and could imply that all expenses are paid immediately, or that any short-term debts are not categorized as formal liabilities in their filings. Further inquiry into their accounting practices would be beneficial.
What factors contributed to the substantial decline in total assets from $86,508 in 2021 to $21,294 in 2023, and what strategies are in place to rebuild these reserves?
The filings do not provide specific reasons for the asset decline. It could be due to significant capital expenditures, operating deficits, or a strategic decision to utilize reserves. Understanding the underlying causes and future financial planning is crucial.
Filing History
IRS 990 filing history for Colonial Theatre School Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Colonial Theatre School Inc's revenue has grown by 298.2%, moving from $76K to $302K. Total assets decreased by 24.9% over the same period, from $28K to $21K. Total functional expenses rose by 271.4%, from $85K to $317K. In its most recent filing year (2023), Colonial Theatre School Inc reported a deficit of $14K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $302K | $317K | $21K | $0 | — | View 990 |
| 2022 | $225K | $266K | $36K | $0 | — | View 990 |
| 2021 | $213K | $210K | $87K | $10K | — | View 990 |
| 2020 | $73K | $58K | $83K | $10K | — | — |
| 2019 | $252K | $201K | $68K | $10K | — | View 990 |
| 2018 | $47K | $37K | $8K | $646 | — | View 990 |
| 2017 | $109K | $112K | $6K | $9K | — | — |
| 2016 | $121K | $117K | $14K | $12K | — | View 990 |
| 2015 | $93K | $89K | $21K | $23K | — | View 990 |
| 2014 | $95K | $77K | $16K | $23K | — | View 990 |
| 2013 | $91K | $93K | $21K | $46K | — | View 990 |
| 2012 | $77K | $90K | $28K | $50K | — | View 990 |
| 2011 | $76K | $85K | $28K | $38K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $302K, expenses of $317K, and assets of $21K (revenue +34.1% year-over-year).
- 2022: Revenue of $225K, expenses of $266K, and assets of $36K (revenue +5.6% year-over-year).
- 2021: Revenue of $213K, expenses of $210K, and assets of $87K (revenue +193.1% year-over-year).
- 2020: Revenue of $73K, expenses of $58K, and assets of $83K (revenue -71.1% year-over-year).
- 2019: Revenue of $252K, expenses of $201K, and assets of $68K (revenue +438.7% year-over-year).
- 2018: Revenue of $47K, expenses of $37K, and assets of $8K (revenue -56.8% year-over-year).
- 2017: Revenue of $109K, expenses of $112K, and assets of $6K (revenue -10.0% year-over-year).
- 2016: Revenue of $121K, expenses of $117K, and assets of $14K (revenue +29.5% year-over-year).
- 2015: Revenue of $93K, expenses of $89K, and assets of $21K (revenue -1.7% year-over-year).
- 2014: Revenue of $95K, expenses of $77K, and assets of $16K (revenue +4.1% year-over-year).
- 2013: Revenue of $91K, expenses of $93K, and assets of $21K (revenue +17.5% year-over-year).
- 2012: Revenue of $77K, expenses of $90K, and assets of $28K (revenue +1.9% year-over-year).
- 2011: Revenue of $76K, expenses of $85K, and assets of $28K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Colonial Theatre School Inc:
Data Sources and Methodology
This transparency report for Colonial Theatre School Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.