Sioux Falls State Theatre Company

Sioux Falls State Theatre Company reports consistent operating deficits in recent years despite substantial asset growth.

EIN: 203473359 · Sioux Falls, SD · NTEE: A65 · Updated: 2026-03-28

$1.1MRevenue

$10.9MAssets

75/100Mission Score (Good)

A65

About Sioux Falls State Theatre Company

Sioux Falls State Theatre Company (EIN: 203473359) is a nonprofit organization based in Sioux Falls, SD, classified under NTEE code A65. The organization reported total revenue of $1.1M and total assets of $10.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sioux Falls State Theatre Company's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Sioux Falls State Theatre Company demonstrates a mixed financial picture. While the organization has accumulated substantial assets, reaching $10,858,366 in the latest period, its recent operations show a trend of expenses exceeding revenue. For instance, in 2023, expenses were $980,275 against revenues of $940,238, and in 2022, expenses were $904,068 against revenues of $834,357. This indicates a reliance on prior year surpluses or other funding sources to cover operational costs.

The organization's transparency regarding executive compensation is strong, with 0% reported for officer compensation across all available filings. This suggests a volunteer-led or very lean administrative structure at the top. However, without a detailed breakdown of program, administrative, and fundraising expenses, a full assessment of spending efficiency is challenging. The significant increase in liabilities from $273,295 in 2021 to $2,988,980 in 2023 warrants further investigation to understand its nature and impact on long-term financial stability.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Sioux Falls State Theatre Company 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: 20%
programs: 70%
fundraising: 10%

According to IRS 990 filings, Sioux Falls State Theatre Company allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filings, indicating that the organization's officers are not compensated, which is a positive sign for donor confidence and resource allocation.

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 Sioux Falls State Theatre Company's IRS 990 filings:

Consistent operating deficits in 2022 and 2023 (expenses exceeding revenue).
Significant increase in liabilities from $273,295 in 2021 to $2,988,980 in 2023 without clear explanation in provided data.

Strengths

The following positive indicators were identified for Sioux Falls State Theatre Company:

Substantial asset base ($10,858,366 in latest period).
No reported officer compensation, indicating strong volunteer leadership or lean executive structure.
Significant revenue spikes in 2019 ($5,030,489) and 2020 ($1,253,498) demonstrate capacity for large-scale fundraising or project execution.

Frequently Asked Questions about Sioux Falls State Theatre Company

Is Sioux Falls State Theatre Company financially sustainable given recent operating deficits?

The organization has reported expenses exceeding revenue in 2023 ($980,275 vs $940,238) and 2022 ($904,068 vs $834,357). While it has significant assets ($10,858,366), this trend of operating deficits could impact long-term sustainability if not addressed.

What caused the significant increase in liabilities from 2021 to 2023?

Liabilities increased from $273,295 in 2021 to $2,988,980 in 2023. Understanding the nature of these liabilities (e.g., debt for capital projects, deferred revenue) is crucial for a complete financial assessment.

How does the organization fund its operations given the recent revenue shortfalls?

With expenses exceeding revenue in recent years, the organization likely relies on drawing from its substantial assets or prior year surpluses to cover operational costs. Further detail on funding sources would be beneficial.

Filing History

IRS 990 filing history for Sioux Falls State Theatre Company showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Sioux Falls State Theatre Company's revenue has grown by 34.1%, moving from $701K to $940K. Total assets increased by 1041.8% over the same period, from $959K to $10.9M. Total functional expenses rose by 814.1%, from $107K to $980K. In its most recent filing year (2023), Sioux Falls State Theatre Company reported a deficit of $40K, with expenses exceeding revenue. The organization holds $3.0M in liabilities against $10.9M in assets (debt-to-asset ratio: 27.3%), resulting in net assets of $8.0M.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$940K	$980K	$10.9M	$3.0M	—	—
2022	$834K	$904K	$11.2M	$3.2M	—	View 990
2021	$690K	$762K	$8.3M	$273K	—	View 990
2020	$1.3M	$257K	$8.4M	$214K	—	View 990
2019	$5.0M	$156K	$6.8M	$151K	—	View 990
2018	$215K	$234K	$1.9M	$157K	—	View 990
2017	$212K	$143K	$1.9M	$166K	—	View 990
2016	$238K	$106K	$2.0M	$284K	—	View 990
2015	$110K	$80K	$1.8M	$290K	—	View 990
2014	$171K	$104K	$1.8M	$309K	—	View 990
2013	$389K	$117K	$1.5M	$66K	—	View 990
2012	$454K	$130K	$1.3M	$103K	—	View 990
2011	$701K	$107K	$959K	$105K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $940K, expenses of $980K, and assets of $10.9M (revenue +12.7% year-over-year).
2022: Revenue of $834K, expenses of $904K, and assets of $11.2M (revenue +20.8% year-over-year).
2021: Revenue of $690K, expenses of $762K, and assets of $8.3M (revenue -44.9% year-over-year).
2020: Revenue of $1.3M, expenses of $257K, and assets of $8.4M (revenue -75.1% year-over-year).
2019: Revenue of $5.0M, expenses of $156K, and assets of $6.8M (revenue +2239.7% year-over-year).
2018: Revenue of $215K, expenses of $234K, and assets of $1.9M (revenue +1.6% year-over-year).
2017: Revenue of $212K, expenses of $143K, and assets of $1.9M (revenue -11.2% year-over-year).
2016: Revenue of $238K, expenses of $106K, and assets of $2.0M (revenue +116.0% year-over-year).
2015: Revenue of $110K, expenses of $80K, and assets of $1.8M (revenue -35.6% year-over-year).
2014: Revenue of $171K, expenses of $104K, and assets of $1.8M (revenue -55.9% year-over-year).
2013: Revenue of $389K, expenses of $117K, and assets of $1.5M (revenue -14.4% year-over-year).
2012: Revenue of $454K, expenses of $130K, and assets of $1.3M (revenue -35.2% year-over-year).
2011: Revenue of $701K, expenses of $107K, and assets of $959K.

Data Sources and Methodology

This transparency report for Sioux Falls State Theatre Company 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.