toc_header
Introduction 01
Executive Summary 03
The Universe 09
Trend Theatres 10 Earned Income 10 Attendance, Ticket, and Performance Trends 12 Contributed Income 13 Expenses and Change in Unrestricted Net Assets (CUNA) 15 Balance Sheet 18
Profiled Theatres 19 Earned Income 20 Contributed Income 21 Expenses and CUNA 22
BITOC Analysis 23
Conclusion 24
Methodology 25
Appendix: Profiled Theatre Tables by Budget Group 25
2023 Profiled Theatres 29
Welcome to Theatre Facts, Theatre Communications Group’s (TCG) annual report on the U.S. professional not-for-profit theatre field’s finances, attendance, performance details, and operations. This report shares trends in these areas and describes activity using data from TCG’s Fiscal Survey and SMU DataArts’ Cultural Data Profile (CDP) for the fiscal year that theatres completed anytime between October 31, 2022 and September 30, 2023. The report follows the audit structure recommended by the Federal Accounting Standards Board (FASB) in its exploration of all income and expenses, which contain but are not limited to operating income and expenses as well as balance sheet figures. We readily acknowledge that these quantitative analyses do not speak to the artistry created and presented by theatres, the impact they have on their communities, and their influence on the artistic legacy of the nation and beyond. However, they do address the state of finances, attendance, and operations that underpin the sector’s artistry. Looking back, last year’s 2022 edition of Theatre Facts revealed the continued impact of COVID-19 on the theatre sector. Total ticketing income remained 55% lower than in 2018 as both earned and contributed revenue failed to keep up with escalating costs. While unprecedented federal grants sustained organizations through the pandemic into fiscal year 2022, as costs rose organizations struggled to find sustainable revenue engines to keep pace with expense growth. Theatre Facts 2023 is a continuation of the story of theatres, describing the continued impacts of COVID-19 on the sector, including the curtailing of funding sources that sustained organizations through the pandemic. This report focuses on organizational fiscal years ending between October 2022 and September 2023, thus capturing a period of reduced government relief funding programs as compared to Theatre Facts 2022. Three sections of this report exist to provide different levels of perspective:
Unless otherwise noted, when we mention Trend Theatres in this report, we are referring to those included in the 4-year trend analysis. We base the 19% adjustment for inflation in the discussion of Trend Theatres on compounded annual average changes in the Consumer Price Index for all urban consumers as reported by the U.S. Department of Commerce's Bureau of Labor Statistics. We adjust for inflation since prices and wages rise across years. This means theatres need to bring in more income over time just to keep up with the fact that a dollar today does not buy what it bought yesterday. What cost $100 in 2019 cost $119 in 2023, so the buying power of every dollar raised and earned has to be adjusted in order to maintain the same operating level. In addition to the influence of inflation on the costs associated with producing and presenting among theatres, it has impacts on overall economic uncertainty, which can cause greater caution among patrons when it comes to spending and charitable contributions. (SOURCE) Therefore, all financial growth figures referenced in the text of this report reflect these adjustments for inflation unless otherwise noted by a reference to growth in “nominal” (i.e., unadjusted) versus “real” (inflation-adjusted) dollars. 3. The Profiled Theatres section explores the overall state of the 213 theatres that completed a CDP in 2023. The CDP asks a wide range of detailed financial questions that provide a nuanced picture of the health of these theatres. Analyzing the data based on six historical budget groupings resulted in the identification of outliers for many data points. To ensure analysis and reporting are accurate and clear, the detailed tables examining Profiled Theatres by budget categories are included as an appendix to this report. The distribution of theatres by budget groups, based on annual expenses, is shown in the following table:
PROFILED THEATRES PER BUDGET GROUP (213 THEATRES) Budget Group Annual Expenses Number of Theatres 6 $10 million or more 28 5 $5 million – $9,999,999 29 4 $3 million – $4,999,999 26 3 $1 million – $2,999,999 51 2 $500,000 – $999,999 37 1 $499,999 or less 42
2023 BITOC Breakdown (141 theatres) Budget Group Annual Expenses Number of Non-BITOC Number of BITOC 4 $3 million – $4,999,999 17 2 3 $1 million – $2,999,999 46 5 2 $500,000 – $999,999 32 5 1 $499,999 or less 29 5
KEY TERMS
Contributed Income and Total Income refer to unrestricted contributed income and total unrestricted income. Unrestricted contributed income includes unrestricted donations/grants for operating and non-operating purposes as well as net assets released from restriction (NARR)—i.e., assets that were released into the unrestricted fund during the fiscal year by the satisfaction of donor-imposed time or purpose restrictions. Previous iterations of Theatre Facts broke out NARR by each source, whereas data supplied via the Cultural Data Profile for this report show only the total NARR.
Capital Campaign refers to any fundraising drive for a specific purpose or purposes that is separate from an annual campaign, including campaigns related to facilities/equipment, endowments, artistic/programming needs, operating/technology, and recovery, some of which may be aiding general operations.
Subscriptions reflect both subscriptions and memberships.
Single Ticket Income includes non-subscription/membership ticket income from productions produced by a theatre.
Occupancy Expenses include the cost of rent or debt service on facilities; regularly scheduled maintenance of infrastructure; the cost of maintenance of office and public space furniture; the cost and maintenance of shop equipment, computers, company vehicles, etc.; and facility-related insurance. Capital expenses are included only if they are posted on a theatre’s income statement.
Means and Medians are both measures of central tendency in describing a range of values, but they are calculated differently. An arithmetic mean is the sum of all data values divided by the number of data values. It is often referred to as the statistical “average.” The median is the middle value of a range of data that is in numerical order from lowest to highest, which splits the higher and lower halves in two. We report means unless otherwise noted.
To better handle outliers, or extreme values within a particular topic, this analysis utilizes a process of winsorizing that reduces the value of outliers to negate extreme effects of the values while still maintaining the large values in the analysis. This makes the analysis simpler to understand as we are not completely removing outliers from the report. Winsorizing is used when assessing mean values but is not used when discussing the total value of a variable. This ensures mean values are more appropriate and total values reflect the full impact of the variable on the field.
The Consumer Price Index (CPI) is “a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.” (U.S. Department of Labor, Bureau of Labor Statistics, https://www.bls.gov/cpi/. Accessed 10/25/2024.)
TREND THEATRES: 2019–2023 HIGHLIGHTS
As theatres reopened their doors and resumed programming in 2022, expenses rose substantially and continued to increase in 2023. Earned income is recovering but remains lower than in 2019. Contributed income rose between 2019 and 2022 but declined in 2023. (see Figure A).
Throughout this report, all references to growth for 4-year trends in the text reflect inflation-adjusted growth unless otherwise noted.
FIGURE A: TREND THEATRE AVERAGES: EARNED AND CONTRIBUTED INCOME, AND EXPENSES ($ amounts not adjusted for inflation) A graph of a number of people
Description automatically generated with medium confidence
Figure B depicts levels of earned income and contributed income over time, along with total income, and expenses. The bar chart illustrates more vividly the relationship between total income (the gray bar) and expenses (the gold bar). In 2022, contributed revenue hit a 4-year high and earned hit a 4-year low. The gap between earned income and contributed income was widest this year as one-time government funding was distributed and theatres struggled to regain pre-pandemic levels of earned revenue. In 2023, expenses outpaced total income as the growth in earned revenue did not match the growth in expenses and contributed income declined. FIGURE B: TREND THEATRE AVERAGE EARNED INCOME, CONTRIBUTED INCOME, TOTAL INCOME, AND EXPENSES A graph of income and contribution
Description automatically generated
Figure C1 depicts fluctuations of positive or break-even CUNA. CUNA is important since it represents whether the organization brought in enough unrestricted income to cover its expenses. Positive CUNA indicates that there was surplus income after paying all expenses, whereas negative CUNA shows that the income brought in for the year was insufficient to cover all expenses. The annual percentage of Trend Theatres ending the fiscal year with positive or break-even CUNA peaked in 2021 and was at a 4-year low in 2023 (see Figure C1).
FIGURE C1: BREAKDOWN OF 137 TREND THEATRES CHANGE IN UNRESTRICTED NET ASSETS (CUNA) A graph with numbers and a bar
Description automatically generated with medium confidence
Figures A, B, and C1 tell a story of a sector that was already facing fragility the year before the unprecedented crisis of 2020. Revenue barely outpaced expenses, and average positive CUNA was the experience of few more than half of theatres. As federal relief flowed to the sector, most theatres ended 2021 and 2022 with positive CUNA, with 2021 an exceptional year as 58% of theatres ended the year with positive CUNA surpassing 20% of the break-even point (See Figure C2). This trend persisted in 2022, but the percentage of theatres ending the year with a positive CUNA exceeding 20% of break-even decreased significantly compared to 2021. In 2023, only 16% of theatres ended with this level of positive CUNA, while 61% reported a negative CUNA, and 24% saw negative CUNA exceeding 20% of their budgets - the worst level since Theatre Facts began tracking CUNA in 2000. The percentage of theatres with negative CUNA surpassed 60% only once before, in 2009 during the height of the Great Recession, though the severity of the decline was not as acute. Rising costs that surpass increases in income, coupled with the depletion of temporary relief funding, have left the sector more vulnerable than any point in its recent history.
FIGURE C2: BREAKDOWN OF 137 TREND THEATRES CHANGE IN UNRESTRICTED NET ASSETS (CUNA) PROPORTIONAL TO EXPENSES A graph of different colored squares
Description automatically generated with medium confidence
Total ticket income, encompassing both subscription and single ticket sales revenue, has increased after a 4-year low in 2022, but was still 29% lower than in 2019 after adjusting for inflation. Subscription and single ticket income were the primary sources of earned income every year except 2021. The average number of subscribers peaked in 2020, hit an all-time low in 2021, and then increased in 2022 and 2023, representing a 1% decrease from 2019. Attendance was highest in 2019, falling 22% over the 4-year trend period. Investment instrument income, which represents both operating and non-operating income such as interest and realized or unrealized gains or losses, fluctuated from 2019 to 2023, realizing a negative value for 2022. After adjusting for inflation, total other earned income failed to keep up with rising costs, resulting in a 21% overall decrease over time. Not every Trend Theatre responds to the Balance Sheet section of the CDP survey as some theatres operate as part of a sheltering organization or are very small. Of the 137 Trend Theatres, 81 are included in the Balance Sheet analyses. These 81 theatres saw an annual increase in their total net assets, from 2019 to 2022 before falling 4% in 2023 resulting in a reduction in organizations’ ability to cover daily expenses (negative working capital).
PROFILED THEATRES: 2023 SNAPSHOTS BY BUDGET SIZE There were 213 theatres that completed a Cultural Data Profile in 2023, whom we refer to as Profiled Theatres. Theatres of different budget sizes have distinct profiles regarding their operations and finances. Following are some highlights: Earned Income:
Attendance and Performances:
Contributed Income:
Expenses and Change in Unrestricted Net Assets (CUNA):
Balance Sheet:
U.S. professional not-for-profit theatres shared their creative work with more than 27 million audience members in 2023. This conclusion is drawn from an extrapolation based on SMU DataArts’ integrated data set. Data sources include the Cultural Data Profile, IRS 990s, Census Bureau, National Endowment for the Arts, Institute of Museum and Library Services, and National Assembly of State Arts Agencies. The extrapolation focuses on 2,258 theatres that TCG identified as constituting the U.S. professional not-for-profit theatre industry in 2023. We avoid comparisons to Universe Theatres of years past because the pool of theatres is not consistent from year to year. Table 1 provides some high-level information about the Universe of U.S. professional not-for-profit theatres in 2023.
TABLE 1: ESTIMATED 2023 UNIVERSE OF U.S. PROFESSIONAL NOT-FOR-PROFIT THEATRES (2,258 Theatres) Estimated Productivity
Attendance
27,800,000
Subscribers
675,000
Performances
141,000
Productions
15,400
Estimated Finances
Earned Income
$ 1,850,000,000
Contributed Income
$ 1,790,000,000
Total Income
$ 3,640,000,000
Total Expenses
$ 3,640,000,000
Change in Unrestricted Net Assets (CUNA)
$0
Earned Income as a % of
Total Income 51%
Contributed Income as a % of
Total Income 49%
CUNA as a % of Total Expenses
0%
Estimated Workforce
% of Total
Artistic
52,600
41%
Production & Administrative
77,400
59%
Total Paid Personnel
130,000
100%
* We estimate that in 2023, 2,258 Theatres in the U.S. Professional Not-for-Profit Theatre Field:
We highlight in this section findings on activity for the 137 Trend Theatres that completed the TCG Fiscal Survey or Cultural Data Profile (CDP) each year from 2019 to 2023, a set of theatres with larger average budget size than those found in the Universe section of this report. The smallest Trend Theatre in 2023 had annual expenses of less than $38,000 and the largest over $71 million.
To avoid variations attributable to theatres with exceptional activity participating in some years but not in others, we follow the same set of theatres over time. Naturally, a theatre may change budget size over time. Trend Theatres had the highest average expenses in 2023 at $3.9 million, compared to a 4-year low of $2.4 million in 2021. Despite being nominally high, after adjusting for inflation, 2023 expenses stayed 9% below 2019 levels. A look at the median—i.e., the midpoint in the range—reveals a lower budget size of $1.1 million in 2019 and $1.2 million in 2023. The median value is lower than the average on most dimensions given the distribution of Trend Theatres by size. Still, we continue to refer to the average (arithmetic mean) throughout this report for all figures, unless otherwise noted. We organize the story revealed by the past five years into five sections: (1) earned income; (2) attendance, ticket, and performance trends; (3) contributed income; (4) expenses and Change in Unrestricted Net Assets (CUNA); and (5) balance sheet. In each section, we present tables showing 1-year percentage changes that compare activity levels in 2023 to activity levels in 2023 and 4-year percentage changes that offer a longer-term perspective, comparing activity levels in 2023 to those of 2019, both before and after accounting for inflation. The 19% adjustment for inflation is based on compound annual average changes in the Consumer Price Index. All references to growth figures mentioned in the text reflect inflation-adjusted growth unless otherwise noted.
For the 137 Trend Theatres:
TABLE 2: AVERAGE EARNED INCOME (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg 4-yr % chg CGR* Subscriptions 323,133 272,817 37,609 216,824 258,105 19% -20% -33% Single Ticket Income 642,412 516,384 63,937 424,214 557,513 31% -13% -27% Total Ticket Income 1,020,857 838,820 101,546 655,592 857,889 31% -16% -29% Educational/Outreach Income 50,214 46,030 27,329 41,291 53,552 30% 7% -10% Royalties 4,860 4,738 3,756 6,274 5,743 -8% 18% -1% Rentals 24,372 24,492 12,222 22,137 25,026 13% 3% -14% Other 247,698 232,394 112,070 169,932 212,400 25% -14% -28% Total Other Earned Income 381,979 361,050 187,459 292,144 360,628 23% -6% -21% Total Investment Instrument Income 127,309 120,795 215,347 (439,772) 104,507 -124% -18% -31% Total Earned Income 1,620,555 1,413,885 873,565 741,441 1,439,596 94% -11% -25% *Compounded Growth Rate adjusted for inflation.
TABLE 3: AVERAGE EARNED INCOME AS A PERCENTAGE OF TOTAL EXPENSES (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg
Subscriptions
8.9%
8.0%
1.6%
6.2%
7.1%
1.0%
-2.0%
Single Ticket Income
17.8%
15.1%
2.7%
12.2%
15.4%
3.0%
-2.0%
Total Ticket Income
28.2%
24.6%
4.2%
18.8%
23.7%
5.0%
-5.0%
Educational/Outreach Income
1.4%
1.3%
1.1%
1.2%
1.5%
0.0%
0.0%
Royalties
0.1%
0.1%
0.2%
0.2%
0.2%
0.0%
0.0%
Rentals
0.7%
0.7%
0.5%
0.6%
0.7%
0.0%
0.0%
Other
6.8%
6.8%
4.7%
4.9%
5.9%
1.0%
-1.0%
Total Other Earned Income
10.6%
10.6%
7.8%
8.4%
10.0%
2.0%
-1.0%
Total Investment Instrument Income
3.5%
3.5%
9.0%
-12.6%
2.9%
15.0%
-1.0%
Total Earned Income
44.8%
41.4%
36.5%
21.3%
39.8%
19.0%
-5.0%
*Compounded Growth Rate adjusted for inflation.
For the 137 Trend Theatres:
Average educational/outreach income declined by 10%, supporting the same level of expenses.
Rental revenue declined by 14% and royalty income decreased slightly (1%). Both sources of other earned income supported the same level of expenses.
Collectively, growth in total income from categories other than ticket income or investment instrument income, referred to as “Total Other Earned Income” in Tables 2 and 3, fell by 21% over the period. It supported slightly less of total expenses over time.
Investment income peaked in 2021. In 2023, it supported 1% less of total expenses compared to 2019.
TABLE 4: AGGREGATE AND AVERAGE ATTENDANCE TRENDS (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg
AGGREGATE
Total Attendance
5,172,57
4,615,256
2,368,456
3,628,582
4,034,924
11%
-22%
- 18 and under attendance
648,147
596,224
58,499
348,254
497,036
43%
-23%
Number of Subscribers
182,484
233,859
95,352
163,030
180,292
11%
-1%
AVERAGE
Total Attendance
37,756
33,688
17,288
26,486
29,452
11%
-22%
- 18 and under attendance
4,731
4,352
427
2,542
3,628
43%
-23%
Number of Subscribers
1,332
1,707
696
1,190
1,316
11%
-1%
TABLE 5: AGGREGATE AND AVERAGE NUMBER OF PERFORMANCES AND PRODUCTIONS TRENDS (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg
AGGREGATE
Number of Performances
21,646
15,344
6,439
12,467
15,207
22%
-30%
Number of Productions
1,370
1,233
1,233
1,096
1,096
-2%
-16%
AVERAGE
Number of Performances
158
112
47
9
111
22%
-30%
Number of Productions
10
9
9
8
8
-2%
-16%
For the 137 Trend Theatres:
TABLE 6: AVERAGE CONTRIBUTED INCOME AND TOTAL INCOME (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg 4-yr % chg CGR* Federal 16,643 62,264 206,092 423,640 126,501 -70% 660% 539% State 33,932 42,431 64,493 62,102 98,768 59% 191% 145% City/County 64,093 68,724 77,591 74,333 88,797 19% 39% 16% Corporations 74,506 66,639 61,530 61,392 61,242 0% -18% -31% Foundations 460,536 452,192 490,300 501,006 483,450 -4% 5% -12% Trustees 208,259 239,342 219,555 211,359 178,664 -15% -14% -28% Other Individuals 501,814 503,150 459,740 450,130 503,738 12% 0% -16% In-Kind Services/Materials/Facilities 42,534 33,899 27,416 29,950 33,098 11% -22% -35% Other Sources 192,867 151,318 140,990 183,907 183,782 0% -5% -20% Total Contributed Income 1,955,194 1,897,226 2,117,233 2,432,793 2,077,205 -15% 6% -11% Total Income 3,674,699 3,389,123 3,102,694 3,491,567 3,649,508 5% -1% -17% *Compounded Growth Rate adjusted for inflation.
TABLE 7: AVERAGE CONTRIBUTED INCOME AND TOTAL INCOME AS A PERCENTAGE OF TOTAL EXPENSES (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg
Federal
0.5%
1.8%
8.6%
12.1%
3.5%
-9.0%
3.0%
State
0.9%
1.2%
2.7%
1.8%
2.7%
1.0%
2.0%
City/County
1.8%
2.0%
3.2%
2.1%
2.5%
0.0%
1.0%
Corporations
2.1%
2.0%
2.6%
1.8%
1.7%
0.0%
0.0%
Foundations
12.7%
13.3%
20.5%
14.4%
13.4%
-1.0%
1.0%
Trustees
5.8%
7.0%
9.2%
6.1%
4.9%
-1.0%
-1.0%
Other Individuals
13.9%
14.7%
19.2%
12.9%
13.9%
1.0%
0.0%
In-Kind Services/Materials/Facilities
1.2%
1.0%
1.1%
0.9%
0.9%
0.0%
0.0%
Other Sources
5.3%
4.4%
5.9%
5.3%
5.1%
0.0%
0.0%
Total Contributed Income
54.0%
55.6%
88.5%
69.8%
57.4%
-12.0%
3.0%
Total Income
101.6%
99.3%
129.7%
100.1%
100.9%
1.0%
-1.0%
*Compounded Growth Rate adjusted for inflation.
For the 137 Trend Theatres:
For the 137 Trend Theatres:
Total compensation fell by 5% from 2019 to 2023 (see Table 8) yet accounted for 6% more of theatres’ total expenses over the 4-year period (see Table 9).
Similarly, the average total staff employed (not shown in tables), declined by 47% from 319 in 2019 to 175 in 2023. Staff reductions during the peak year of the pandemic (2021) were the greatest and predominantly affected part-time workers.
Expense allocation across all categories remained relatively steady, over the 4-year period, with theatres allocating 6% more personnel expenses in 2023 compared to 2022 (see Table 9).
Management and general payroll declined 3% but reflected 1% more of total expenses.
Program and fundraising payroll experienced 7% and 9% declines from 2019 to 2023, respectively. Fundraising payroll did not shift in terms of expense allocation, but the percentage of expenses dedicated to program personnel rose 4%.
Total payroll was at an all-time low in 2021 and rebounded 9% between 2022 and 2023. However, figures for 2023 remained below 2019 levels, with an overall 5% reduction in personnel expenses from 2019 to 2023.
Occupancy costs were 7% higher in 2023 than in 2022, yet remained 5% below 2019 levels after adjusting for inflation.
TABLE 8: AVERAGE EXPENSES AND CUNA (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg 4-yr % chg CGR* Program Personnel (employees & contractors) 1,287,529 1,222,256 821,141 1,310,223 1,431,839 9% 11% -7% Management and General Personnel (employees & contractors) 309,587 313,019 289,336 327,832 356,479 9% 15% -3% Fundraising Personnel (employees & contractors) 173,278 168,141 150,103 165,248 188,524 14% 9% -9% Total Personnel 1,787,220 1,720,150 1,292,440 1,844,386 2,011,294 9% 13% -5% Occupancy/Building/Equipment/ Maintenance 297,453 300,277 240,619 315,464 337,444 7% 13% -5% Depreciation 140,604 150,268 150,983 149,537 168,910 13% 20% 1% Other Non-personnel 1,303,034 1,145,396 619,094 1,091,576 1,297,793 19% 0% -16% Total Expenses 3,617,825 3,411,779 2,391,807 3,487,470 3,896,464 12% 8% -9% Change in Unrestricted Net Assets (CUNA) 56,874 (22,656) 710,887 4,097 (246,956) – – – *Compounded Growth Rate adjusted for inflation.
TABLE 9: AVERAGE EXPENSES AND CUNA AS A PERCENTAGE OF TOTAL EXPENSES (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg
Program Personnel (employees & contractors)
35.6%
35.8%
34.3%
37.6%
39.6%
2.0%
4.0%
Management and General Personnel (employees & contractors)
8.6%
9.2%
12.1%
9.4%
9.9%
0.0%
1.0%
Fundraising Personnel (employees & contractors)
4.8%
4.9%
6.3%
4.7%
5.2%
0.0%
0.0%
Total Personnel
49.4%
50.4%
54.0%
52.9%
55.6%
3.0%
6.0%
Occupancy/Building/Equipment/ Maintenance
8.2%
8.8%
10.1%
9.0%
9.3%
0.0%
1.0%
Depreciation
3.9%
4.4%
6.3%
4.3%
4.7%
0.0%
1.0%
Other Non-personnel
36.0%
33.6%
25.9%
31.3%
35.9%
5.0%
0.0%
Total Expenses
100.0%
100.0%
100.0%
100.0%
107.7%
8.0%
8.0%
Change in Unrestricted Net Assets (CUNA)
1.6%
-0.7%
29.7%
0.1%
-6.3%
-6.4%
-7.9%
________________
TABLE 10: TREND THEATRES ADMINISTRATIVE EXPENSE INDEX (137 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg Total marketing expense (including personnel expense) to total ticket sales 28% 32% 222% 40% 34% -6% 6% Development expense (excluding personnel expense, fundraising event expense) to total unrestricted contributed income (excluding fundraising event income) 6% 5% 4% 4% 6% 2% 0% Total development expense (including fundraising event expense and personnel expense) to total unrestricted contributed income 15% 13% 11% 11% 15% 4% 0%
The Balance Sheet categories and ratios reported in this section follow the recommendations of Cool Spring Analytics. Table 11 shows the aggregate value of the different asset categories’ net of liabilities for the 137 Trend Theatres for each of the past 5 years, along with the 1-year percentage changes, 4-year percentage changes, and inflation-adjusted 4-year percentage changes. The table also shows total expenses and the investment ratio over time, discussed below. Total net assets—unrestricted and restricted—rose annually until 2022. In 2023, their value decreased by 6% for the 4-year period (see Table 11). This decline was primarily due to a 22% decrease in the value of other net assets from 2019 to 2023 (see Tables 11 and 12). The value of long-term investments increased by 8% above inflation, and fixed assets (i.e., land, property, and equipment less accumulated depreciation) improved from 2019 to 2023, leading to an overall increase of 7% over the trend period. In Table 11 we relate investments to total expenses to form an investment ratio. An increasing investment ratio over time means the theatre has more invested capital, which generates income for operating purposes, relative to its budget. The investment ratio improved significantly in 2021, primarily driven by expense reduction. As shown in Table 12, the portion of long-term investments that are unrestricted grew by 21% in value from 2019 to 2023, in inflation-adjusted figures. These investments represent the value of long-term financial securities, such as stocks and bonds, that are intended to remain invested for the long-term or in perpetuity. TF_calculation_ref_box1
TABLE 11: AGGREGATE NET ASSETS (in Millions) (81 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg 4-yr % chg CGR* Working Capital (282,936) (678,545) 340,203 664,948 (225,032) -134% -20% -33% Fixed Assets 7,056,409 8,057,245 8,234,689 8,630,563 9,000,551 4% 28% 7% Long-Term Investments 3,977,154 3,811,645 4,910,578 4,552,257 5,111,211 12% 29% 8% Other Net Assets 8,117,044 8,035,718 8,630,622 8,388,912 7,495,994 -11% -8% -22% Total Net Assets 16,065,855 16,490,172 18,500,665 18,789,958 17,961,352 -4% 12% -6% Total Expenses 5,729,168 5,405,154 3,794,740 5,488,417 6,305,454 15% 10% -8% Investment Ratio 69% 71% 129% 83% 81% -2% 12%
*Compounded Growth Rate adjusted for inflation.
Italicized negative percentages reflect an improvement from a negative to a less negative figure.
Working capital reflects the unrestricted resources available to meet day-to-day cash needs and obligations, including savings. It is a fundamental building block of a theatre’s capital structure and a better indicator of a theatre’s operating position than CUNA, which includes non-operating activity and doesn’t reflect the theatre’s savings or outstanding obligations. Negative working capital indicates that a theatre is borrowing funds (e.g., dipping into deferred subscription revenue, delaying payables, taking out loans, tapping lines of credit, etc.) to meet daily operating needs. There are different approaches to calculating working capital. In one approach, asset and liability data is captured by restriction and the calculation is typically the subtraction of unrestricted current liabilities from unrestricted current assets. When only net asset data is reported by restriction, as has historically been the reporting structure of the TCG Fiscal Survey, the calculation Cool Spring Analytics recommends involves netting out fixed assets and unrestricted long-term investments from total unrestricted net assets. Table 11 shows that working capital was negative in each of the 5 years except for 2021 and 2022, when it was at its highest. TABLE 12: AVERAGE WORKING CAPITAL (81 theatres)
2019
2020
2021
2022
2023
1-yr
% chg 4-yr % chg 4-yr % chg CGR* Total Unrestricted Net Assets 7,948,811 8,454,453 9,870,043 10,401,046 10,465,358 1% 32% 11% Fixed Assets 7,056,409 8,057,245 8,234,689 8,630,563 9,000,551 4% 28% 7% Unrestricted Long-Term Investments 1,175,338 1,175,226 1,396,813 1,212,085 1,689,839 39% 44% 21% Working Capital (282,936) (678,545) 340,203 664,948 (225,032) -134% -20% -33% Total Expenses 5,729,168 5,405,154 3,794,740 5,488,417 6,305,454 15% 10% -8% Working Capital Ratio -5% -13% 9% 12% -4% -16% 1%
*Compounded Growth Rate adjusted for inflation.
Italicized negative percentages reflect an improvement from a negative to a less negative figure.
In Table 12, we use average figures to relate working capital to total expenses to create a working capital ratio. The proportion of unrestricted resources available to meet operating expenses, called the working capital ratio, indicates how long a theatre could pay its short-term obligations if it had to survive on current resources. The yearly negative working capital ratio leading up to 2021 is an indication that theatres were already struggling through cash flow crunches leading up to the pandemic. In 2021, a reduction in expenses contributed to a positive (9%) ratio. The most acute crunch occurred in 2020 followed by improvement in subsequent years (see Table 12). 2023 reveals a return to negative working capital, with working capital levels declining 16% since 2022. Cool Spring Analytics recommends that each theatre determine its own working capital needs based on its cash flow cycle. Generally speaking, 25% or 3 months of funds is a benchmark for adequate working capital to handle most cash flow fluctuations. In this section we share facts and findings on the 213 theatres that completed a Cultural Data Profile in 2023, which we refer to as Profiled Theatres. We examine many of the details covered in the Trend Theatres section—i.e., earned income; contributed income; and expenses and CUNA. We avoid comparisons to Profiled Theatres of years past since the pool of participating theatres is different from year to year, and instead cover historical comparisons in the Trend Theatres section, where we follow the same set of theatres over time. 2023 PROFILED THEATRES (213 theatres) Budget Group Annual Expenses Number of Theatres 6 $10 million or more 28 5 $5 million – $9,999,999 29 4 $3 million – $4,999,999 26 3 $1 million – $2,999,999 51 2 $500,000 – $999,999 37 1 $499,999 or less 42 The 2023 Profiled Theatres’ average budget size was $4.3 million, and budgets ranged from $33,050 to over $71 million. The chart to the left shows the budget ranges and the number of theatres for each group. Additional Budget Group data tables can be found in the Appendix. Earned income financed 38.4% of total expenses and contributed income supported 53.2% of total expenses in 2023. These figures do not reach 100% because total income fell short of total expenses, leaving theatres with negative average Change in Unrestricted Net Assets (CUNA).
FIGURE D: INCOME AS A PERCENTAGE OF EXPENSES WITH EARNED INCOME DETAIL* *Percentages total more than 100% because total unrestricted income exceeded total expenses. A pie chart with different colored triangles
Description automatically generated
The 213 Profiled Theatres, in total:
FIGURE E: INCOME AS A PERCENTAGE OF EXPENSES WITH CONTRIBUTED INCOME DETAIL* *Percentages total more than 100% because total unrestricted income exceeded total expenses.
Collectively, the 213 Profiled Theatres:
Released $153 million of net assets from restriction (NARR).
Received $237 million in gifts from trustees and other individuals, which accounted for 34% of all contributed dollars and supported 18.2% of total expenses (see Table 18 and Figure E).
Received an average of $9,866 from trustee support, accounting for 22% of total trustee and other individual giving (see Table 13).
Received contributions from about 1,834,831 non-trustee individuals, who gave an average gift of $1,783 (see Table 13).
Raised funds from 73,970 corporations. The average corporate gift in 2023 was $18,833 (see Table 13).
Attracted funds from 2,743 foundation grants that averaged $46,495 (see Table 13). Foundations provided the highest average gift for theatres of almost every size.
Benefitted from $16.1 million in in-kind donations (not shown in charts
TABLE 13: AVERAGE GIFT BY SOURCE*
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Average Trustee Gift
9,866
34,840
13,267
6,106
5,020
2,208
1,332
Average Other Individual Gift
1,783
1,709
2,869
985
3,001
623
527
Average Corporate Gift
18,833
23,106
74,170
8,480
6,536
4,492
3,514
Average Foundation Gift
46,495
70,455
67,938
64,075
36,254
29,024
17,386
*The “average gift” per source was calculated based on the total amount of funds from the source divided by the total number of corresponding donors and may not represent the typical giving level per donor.
FIGURE F: BREAKDOWN OF EXPENSES
Collectively, the 213 Profiled Theatres:
TABLE 14: PROFILED THEATRES ADMINISTRATIVE EXPENSE INDEX (213 theatres) ► Total marketing expense to total ticket sales (including personnel expense): 76% ► Development expense (excluding personnel expense and fundraising event expense) to total unrestricted contributed income (excluding fundraising event income): 5% ► Total development expense to total unrestricted contributed income (including fundraising event expense and personnel expense): 13%
In this section we share facts and findings on the 141 theatres that completed a Cultural Data Profile in 2023, comparing BITOC versus Non-BITOC Theatres. TCG is inspired by the writings of W.E.B DuBois and defines Black, Indigenous, and Theatres of Color, or BITOC, as organizations that have been founded by, for, about, with, and near BIPOC communities. The comparison non-BITOC cohort were those theatres that had similar budgets to the BITOC cohort ($125K to $4M). We examine many of the details covered in the Profile Theatres section—i.e., earned income; contributed income; and expenses and CUNA. This analysis is the first of its kind in Theatre Facts, and we look forward to increasing BITOC participation to more robustly understand our theatre ecology. 2023 BITOC Breakdown (141 theatres) Budget Group Annual Expenses Number of Non-BITOC Number of BITOC 4 $3 million – $4,999,999 17 2 3 $1 million – $2,999,999 46 5 2 $500,000 – $999,999 32 5 1 $499,999 or less 29 5 The 17 BITOC organizations’ average budget size was $1.4 million, and budgets ranged from $125,000 to almost $4 million. The Non-BITOC cohorts’ average budget size was slightly higher within the same budget range
The table to the left shows the budget ranges and the number of theatres for each group split out by BITOC and Non-BITOC.
In comparing the 141 Theatres:
Earned Income and Attendance:
Contributed Income:
Expenses and Change in Unrestricted Net Assets (CUNA):
Balance Sheet:
BITOC SUMMARY
BITOC (Black, Indigenous, and Theatres of Color) relied more on contributed revenue (75% of expenses) compared to non-BITOC (63.5%), with stronger foundation and government support but less from individual donors. BITOC organizations achieved positive financial outcomes, with higher working capital (12.4 months vs. 4.2 months) and positive CUNA (+0.7%). While BITOC had higher attendance, non-BITOC generated more earned income (31% of expenses vs. 19%) and outperformed in ticketing and subscription revenue. These differences underscore distinct funding and financial strategies between the two groups. Theatre Facts 2023 reveals a complex and evolving picture of the U.S. professional not-for-profit theatre sector as it works to recover from the profound disruptions of the COVID-19 pandemic. While theatres have demonstrated resilience through increased earned and contributed income compared to the immediate aftermath of the pandemic, these financial improvements have not been sufficient to outpace rising costs. Negative CUNA has become a defining challenge, with expenses continuing to outstrip revenues across most budget groups. Earned income, including ticket sales, remains significantly below pre-pandemic levels, despite gradual increases in attendance and performance offerings. These realities underscore the need for theatres to adopt innovative strategies to rebuild audience engagement and adapt their programming to align with new community expectations and habits.
Theatres continue to lean heavily on contributed income, with individual and foundation giving serving as critical lifelines. However, the expiration of temporary federal relief funding, which played a pivotal role in stabilizing organizations during the pandemic, leaves a gap that theatres must now address through more diversified and sustainable revenue sources. The sector also faces long-term vulnerabilities, including negative working capital in many organizations and rising operational costs. BITOC organizations have shown greater liquidity than Non-BITOC peers through higher working capital, and have been able to attract more foundation and government support, due in large part to racial equity initiatives put in place by grantmakers. They also benefit from higher working capital. However, they remain vulnerable due to lower earned income.Addressing these financial challenges will require theatres to not only rebuild their financial foundations but also rethink how they connect with their communities and attract broader philanthropic and governmental support.
Looking ahead, the path forward for theatres involves balancing artistic ambition with financial stability. Theatres must continue their roles as cultural and economic anchors, fostering collaborations with other community stakeholders to amplify their impact. At the same time, building a more sustainable operational model will involve investing in areas such as digital engagement, workforce development, and infrastructure upgrades to enhance efficiency and audience reach. Theatre Facts 2023 highlights the critical need for bold, innovative leadership to navigate these challenges and seize opportunities in a rapidly changing landscape. By embracing adaptability and community engagement, theatres can position themselves for a more resilient and equitable future, continuing to serve as vibrant cultural touchstones in their communities and beyond.
Theatre Communications Group (TCG) collected data through its annual Fiscal Survey through 2019, utilizing SMU DataArts Cultural Data Profile for 2020, 2021, 2022, and 2023, which form the basis of Theatre Facts 2023. The report reflects information reported by TCG Member Theatres that participated in the CDP for 2023 -- on fiscal years that ended anytime between October 1, 2022, and September 30, 2023. The adjustment for inflation of 19% in the discussion of Trend Theatres is based on compound annual average changes in the Consumer Price Index for all urban consumers as reported by the U.S. Department of Commerce and Bureau of Labor Statistics. Throughout the report, shaded cells in the tables contain results skewed by outliers. We generate the Universe section extrapolation by estimating regression models with five years of data for the 2,258 not-for-profit theatres identified in the Universe. We use both organizational and community characteristics to predict the various Universe variables, since we know from our research that expected performance in any area is impacted by who you are and where you operate. Organizational characteristics include total expenses, organization age, and whether the organization received NEA or IMLS funding that year. Community characteristics include measures of population, total arts activity, number of arts providers, number of restaurants, hotels and bars, and socioeconomic level. The parameters from the regression effects model are then used to estimate values for missing variables. It is important to keep in mind that, with the exception of total expenses, which represent a census for the 2,258, the figures reported in the Universe table are estimates. The authors would like to recognize TCG’s Rachael Hip-Flores and Corinna Schulenburg for their contributions to this report.
TABLE 16: AVERAGE EARNED INCOME AS A PERCENTAGE OF EXPENSES
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Subscriptions
6.7%
7.4%
7.2%
5.7%
3.9%
5.1%
1.0%
Single Ticket Income
15.6%
15.8%
15.8%
17.7%
12.6%
14.5%
13.3%
Total Ticket Income
23.5%
25.4%
23.4%
23.4%
16.4%
19.6%
14.3%
Educational/Outreach Income
1.6%
1.2%
1.2%
2.8%
3.2%
2.8%
2.6%
Royalties
0.1%
0.2%
0.0%
0.0%
0.0%
0.0%
0.0%
Rentals
0.8%
0.6%
0.6%
1.0%
1.0%
1.8%
3.6%
Other
6.0%
6.3%
5.9%
5.5%
4.6%
7.9%
7.9%
Total Other Earned Income
9.7%
10.3%
8.1%
9.4%
9.4%
12.6%
14.1%
Total Investment Instrument Income
3.8%
5.4%
2.0%
2.4%
2.8%
0.4%
0.3%
Total Earned Income
38.4%
43.6%
34.0%
35.2%
28.6%
32.6%
28.8%
TABLE 17: INDUSTRY AVERAGES
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Total Attendance
30,956
95,988
46,135
40,113
18,745
11,780
3,172
- 18 and under attendance
4,993
9,750
5,932
11,128
4,599
2,292
233
Number of Subscribers
1,261
4,619
2,268
1,133
563
313
90
Number of Performances
110
243
155
114
90
77
43
Number of Productions
8
11
7
7
8
8
6
Appendix: Profiled Theatre Tables by Budget Groups
TABLE 15: AVERAGE EARNED INCOME
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Subscriptions
283,795
1,229,931
528,489
217,385
68,143
38,874
2,821
Single Ticket Income
665,111
2,633,811
1,151,872
676,617
221,195
110,837
36,753
Total Ticket Income
1,001,031
4,233,530
1,706,178
894,002
289,338
149,711
39,573
Educational/Outreach Income
68,957
194,195
87,891
105,192
56,246
21,637
7,081
Royalties
4,137
26,309
3,438
40
705
91
105
Rentals
33,552
107,303
45,263
37,741
17,722
14,105
10,058
Other
255,669
1,046,010
430,633
208,664
80,711
60,107
21,795
Total Other Earned Income
414,303
1,723,928
588,797
358,374
164,549
96,003
39,039
Total Investment Instrument Income
162,831
901,994
149,105
92,587
49,646
3,332
967
Total Earned Income
1,637,975
7,279,975
2,477,347
1,344,963
503,533
249,047
79,579
TABLE 18: AVERAGE CONTRIBUTED INCOME AND TOTAL INCOME
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Federal
96,306
268,428
195,011
117,353
52,048
29,586
12,893
State
125,608
312,234
185,977
131,438
116,436
44,830
38,196
City/County
94,763
185,000
148,350
90,193
111,241
52,347
17,789
Corporations
76,381
258,606
165,004
57,374
38,632
12,358
7,713
Foundations
462,851
1,068,510
778,648
655,220
386,686
172,538
70,180
Trustees
174,159
745,393
287,765
106,015
75,354
27,225
6,494
Other Individuals
600,129
2,054,795
1,215,149
417,920
324,263
162,679
38,845
In-Kind Services/Material/Facilities
50,602
187,251
71,253
24,756
41,826
7,644
9,744
Other Sources
242,624
987,525
349,888
298,124
81,553
47,681
4,925
Total Contributed
2,266,672
7,676,169
4,040,297
2,152,843
1,275,123
567,833
206,780
Total Income
4,012,673
15,777,916
6,517,644
3,497,805
1,778,656
816,880
286,359
TABLE 19: AVERAGE CONTRIBUTED INCOME AND TOTAL INCOME AS A PERCENTAGE OF EXPENSES
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Federal
2.3%
1.6%
2.7%
3.1%
3.0%
3.9%
4.7%
State
2.9%
1.9%
2.5%
3.4%
6.6%
5.9%
13.8%
City/County
2.2%
1.1%
2.0%
2.4%
6.3%
6.8%
6.4%
Corporations
1.8%
1.5%
2.3%
1.5%
2.2%
1.6%
2.8%
Foundations
10.9%
6.4%
10.7%
17.1%
22.0%
22.6%
25.4%
Trustees
4.1%
4.5%
3.9%
2.8%
4.3%
3.6%
2.3%
Other Individuals
14.1%
12.3%
16.7%
10.9%
18.4%
21.3%
14.0%
In-Kind Services/Materials/Facilities
1.2%
1.1%
1.0%
0.6%
2.4%
1.0%
3.5%
Other Sources
5.7%
5.9%
4.8%
7.8%
4.6%
6.2%
1.8%
Total Contributed Income
53.2%
46.0%
55.4%
56.3%
72.5%
74.3%
74.8%
Total Income
94.1%
94.5%
89.4%
91.5%
101.1%
106.8%
103.5%
TABLE 20: AVERAGE EXPENSES AND CUNA
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Program Personnel (employees & contractors)
1,650,660
6,875,591
3,002,401
1,191,052
576,562
207,557
94,116
Management and General Personnel (employees & contractors)
386,888
1,445,556
575,535
398,436
178,311
107,797
42,841
Fundraising Personnel (employees & contractors)
185,455
690,973
288,909
187,394
106,170
30,447
8,640
Total Personnel
2,183,652
8,712,764
3,866,846
1,776,883
861,043
345,802
145,597
Occupancy/Building/Equipment/ Maintenance
349,581
1,362,401
596,821
302,494
133,080
76,563
36,212
Depreciation
193,694
780,551
366,985
160,921
43,308
62,626
1,166
Other Non-personnel
1,557,112
5,963,927
2,444,918
1,581,816
722,321
320,975
93,586
Total Expenses
4,263,289
16,696,799
7,294,503
3,822,114
1,759,752
764,641
276,561
Change in Unrestricted Net Assets (CUNA)
(250,616)
(918,883)
(776,859)
(324,309)
18,904
52,239
9,798
TABLE 21: AVERAGE EXPENSES AND CUNA AS A PERCENTAGE OF TOTAL EXPENSES
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
213
28
29
26
51
37
42
Program Personnel (employees & contractors)
38.7%
41.2%
41.2%
31.2%
32.8%
27.1%
34.0%
Management and General Personnel (employees & contractors)
9.1%
8.7%
7.9%
10.4%
10.1%
14.1%
15.5%
Fundraising Personnel (employees & contractors)
4.4%
4.1%
4.0%
4.9%
6.0%
4.0%
3.1%
Total Personnel
51.2%
52.2%
53.0%
46.5%
48.9%
45.2%
52.6%
Occupancy/Building/Equipment/ Maintenance
8.2%
8.2%
8.2%
7.9%
7.6%
10.0%
13.1%
Depreciation
4.5%
4.7%
5.0%
4.2%
2.5%
8.2%
0.4%
Other Non-personnel
36.5%
35.7%
33.5%
41.4%
41.0%
42.0%
33.8%
Total Expenses
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Change in Unrestricted Net Assets (CUNA)
-5.9%
-5.5%
-10.6%
-8.5%
1.1%
6.8%
3.5%
TABLE 22: AVERAGE TOTAL NET ASSETS
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
177
26
27
25
46
32
21
Working Capital
354,718
(1,656,541)
905,210
1,090,887
919,570
339,542
46,505
Fixed Assets
5,877,360
25,790,414
8,066,050
3,507,148
881,779
482,763
119,611
Investments
3,544,593
19,294,017
3,792,148
318,728
307,786
34,432
6,301
Other Net Assets
4,996,020
25,136,726
5,279,635
2,127,531
610,893
143,805
109,495
Total Net Assets
12,314,091
55,682,484
15,061,082
6,742,938
2,589,878
994,504
269,916
Total Expenses
4,961,236
18,384,156
7,173,885
3,784,715
1,741,390
774,651
330,724
TABLE 23: AVERAGE WORKING CAPITAL (= TOTAL UNRESTRICTED NET ASSETS – FIXED ASSETS – UNRESTRICTED LONG-TERM INVESTMENTS)
All Theatres
Group 6
Group 5
Group 4
Group 3
Group 2
Group 1
Number of Theatres
177
26
27
25
46
32
21
Total Unrestricted Net Assets
7,318,071
30,545,757
9,781,447
4,615,407
1,978,985
850,699
160,421
Fixed Assets
5,877,360
25,790,414
8,066,050
3,507,148
881,779
482,763
119,611
Unrestricted Long-Term Investments
1,119,199
6,411,884
810,187
17,372
177,636
28,394
-
Working Capital
354,718
(1,656,541)
905,210
1,090,887
919,570
339,542
46,505
Total Expenses
4,961,236
18,384,156
7,173,885
3,784,715
1,741,390
774,651
330,724
The following 213 theatres participated in the Cultural Data Profile in 2023, presented below by state; each theatres budget group is noted in parentheses. Trend Theatres are bolded.
ARIZONA Borderlands Theater (1), Invisible Theatre (1), Black Theatre Troupe (2), The Rogue Theatre (2), Valley Youth Theatre (3), Theater Works (3), Childsplay (4), Arizona Theatre Company (5), Phoenix Theatre (6).
ARKANSAS Theatre Squared Inc (5).
CALIFORNIA Playwrights Foundation (1), Crowded Fire Theater Company (1), Theatre Rhinoceros (1), El Teatro Campesino (1), The Other Side Of The Hill Productions (1), New Los Angeles Repertory Company (1), Academy For New Musical Theatre (1), The Echo Theater Company (1), Company Of Angels (1), The New American Theatre (1), Teada Productions (1), Sacred Fools Theater (1), Open Fist Theatre Company (1), Idris Ackamoor & Cultural Odyssey (2), Playground (2), Deaf West Theatre Co. (2), Will Geer Theatricum Botanicum (2), International City Theatre (2), 24Th Street Theatre (2), Rogue Machine Theatre (2), Fountain Theatre (2), Independent Shakespeare Co. (2), Teatro Vision De San Jose (2), Sacramento Theatre Company (2), New Conservatory Theatre Center (3), Youth Speaks (3), Z Space Studio (3), Magic Theatre (3), Shotgun Players (3), The Antaeus Company (3), The Actors Gang (3), L.A. Theatre Works (3), The Theatre @ Boston Court (3), Diversionary Theatre Productions (3), East West Players (3), Cornerstone Theater Company (3), City Lights Theater Company Of San Jose (3), San Jose Stage Company (3), Ensemble Theatre Company (4), Pcpa (Pacific Conservatory Of The Performing Arts) (4), North Coast Repertory Theatre (4), A Noise Within (4), Latino Theater Company (4), The Laguna Playhouse (5), The Shakespeare Center Of Los Angeles (5), American Conservatory Theater (6), Berkeley Repertory Theatre (6), Center Theatre Group Of Los Angeles (6), Geffen Playhouse (6), Autry Museum Of The American West (6).
COLORADO Colorado Springs Fine Arts Center (3), Arvada Center For The Arts & Humanities (6).
CONNECTICUT Theaterworks Inc (4), Long Wharf Theatre (4), Hartford Stage Company (5), Yale Repertory (5)
D.C. Young Playwrights Theater (3), Mosaic Theater Company Of Dc (4), Woolly Mammoth Theatre Company (5).
FLORIDA Jobsite Theater (1), Island City Stage (2), Gablestage Inc (3), Naples Players Inc (5), Maltz Jupiter Theatre Inc (6), Florida Studio Theatre Inc (6), Asolo Theater Inc (6).
GEORGIA True Colors Theatre Company (3), Alliance Theatre (6).
ILLINOIS Steep Theatre Company (1), The Neo-Futurists (1), Rivendell Theatre Ensemble (1), About Face Theatre (2), Theater Wit (2), Silk Road Rising (2), Remy Bumppo Theatre Company (3), American Blues Theater (3), Northlight Theatre (4), Lookingglass Theatre Company (5), Writers Theatre (5), Steppenwolf Theatre Company (6), Chicago Shakespeare Theater (6).
INDIANA Indiana Repertory Theatre Inc (5).
KENTUCKY Actors Theatre Of Louisville Inc (5).
MARYLAND Theatre Project (1), Round House Theatre (5), Everyman Theatre (5), Center Stage Associates (5).
MASSACHUSETTS Wam Theatre (1), Chester Theatre Company (2), Martha's Vineyard Playhouse (2), Merrimack Repertory Theatre (3), Barrington Stage Company Inc (5), Huntington Theatre Company (6), American Repertory Theatre Company (6).
MICHIGAN Thunder Bay Theatre (1), Superior Arts Youth Theater (1), Plowshares Theatre Company (1), A Host Of People, Inc. (1), Williamston Theatre (2), Millan Theatre Co D/B/A/ Detroit Repertory Theatre (2), Detroit Public Theatre (3).
MINNESOTA Nautilus Music-Theater (1), Commonweal Theatre Company (2), Stages Theatre Company (3), Mixed Blood Theatre (3), Penumbra Theatre Company (4).
MISSOURI St Louis Black Repertory Company Inc (3), Shakespeare Festival St Louis (3), Repertory Theatre Of St Louis (6).
NEW JERSEY George Street Playhouse Inc (5), Mccarter Theatre Company (6).
NEW YORK Foundation For The Open Eye (1), The Ensemble Studio Theatre (3), Irondale Productions (3), New Dramatists (3), Spanish Theatre Repertory (3), Merry-Go-Round Playhouse (4), Geva Theatre Center (5), Theatre For A New Audience (5), The Public Theater (6), Atlantic Theater Company (6), Roundabout Theatre Company (6), The Vivian Beaumont Theater (6).
OHIO Mad River Theater Works (1), Know Theatre Of Cincinnati (2), Tantrum Theater (2), Dobama Theatre (2), The Human Race Theatre Company (3), Short North Stage (3), Contemporary American Theatre Company (Catco) (3), Columbus Children's Theatre (3), Near West Theatre (3), Karamu House (3), Ensemble Theatre Cincinnati (4), Cincinnati Shakespeare Company (4), Shadowbox Live (4), Cleveland Public Theatre (4), Great Lakes Theater Festival (4), Cleveland Play House (6), Cincinnati Playhouse In The Park (6). OREGON Coho Productions Ltd (1), Portland Experimental Theatre Ensemble (Pete) (1), Shaking The Tree Theatre (1), Corrib Theatre (1), Triangle Productions (1), Passinart A Theatre Company (1), Enlightened Theatrics (1), Miracle Theatre Group (2), Third Rail Repertory Theatre (2), Oregon Contemporary Theatre (2), Stumptown Stages (2), Bag And Baggage Productions (2), Portland Playhouse (3), Profile Theatre Project (3), Artists Repertory Theatre (4), Oregon Children's Theatre Company (4), Portland Center Stage (5), Oregon Shakespeare Festival (6).
PENNSYLVANIA New Paradise Laboratories (1), Azuka Theatre Collective (1), Prime Stage (1), Theatre Exile (2), Open Stage Of Harrisburg (2), Lantern Theater Company (3), Quintessence Theatre Group (3), 1812 Productions (3), Act Ii Playhouse (3), Interact Theatre Company (3), Quantum Theatre (3), Wilma Theater (4), Philadelphia Theatre Company (4), City Theatre Company (4), Arden Theatre Company (5), Pittsburgh Public Theater Corporation (5).
RHODE ISLAND Trinity Repertory Company (6).
SOUTH CAROLINA The Warehouse Theatre (2), Arts Center Of Coastal Carolina (5), Charleston Stage Company (4)
TEXAS The Classic Theatre Of San Antonio (1), Soul Rep Theatre Company (1), Rec Room Arts (1), Mildred's Umbrella Theater Company (1), Austin Playhouse (2), Uptown Players (2), The Catastrophic Theatre (2), 4Th Wall Theatre Company (2), The Magik Theatre (3), Shakespeare Dallas (3), Stage West Theatre (3), Main Street Theater At Autry House (4), Dallas Theater Center (5), Stages Inc (5), Zach Theatre (6), Alley Theatre (6).
VERMONT Northern Stage Company (5).
VIRGINIA Mill Mountain Playhouse Co (3), Virginia Stage Company (4).
WASHINGTON Seattle Repertory Theatre (6), Seattle Children's Theatre Association (5)
WISCONSIN Forward Theater Company (3), American Players Theatre Of Wisconsin (5)
Below are the 213 2023 Cultural Data Profile participants, organized by budget group (based on annual expenses) and with the average (arithmetic mean) expenses for the participants displayed.
BUDGET GROUP 1 THEATRES ($499,999 or less) Average: $276,561 Playwrights Foundation (CA), Crowded Fire Theater Company (CA), Theatre Rhinoceros (CA), El Teatro Campesino (CA), Wam Theatre (MA), New Paradise Laboratories (PA), Foundation For The Open Eye (NY), The Other Side Of The Hill Productions (CA), New Los Angeles Repertory Company (CA), Academy For New Musical Theatre (CA), The Echo Theater Company (CA), Thunder Bay Theatre (MI), Superior Arts Youth Theater (MI), Steep Theatre Company (IL), The Neo-Futurists (IL), Rivendell Theatre Ensemble (IL), Azuka Theatre Collective (PA), Prime Stage (PA), Nautilus Music-Theater (MN), Plowshares Theatre Company (MI), A Host Of People, Inc. (MI), Company Of Angels (CA), The New American Theatre (CA), Teada Productions (CA), The Classic Theatre Of San Antonio (TX), Borderlands Theater (AZ), Invisible Theatre (AZ), Sacred Fools Theater (CA), Open Fist Theatre Company (CA), Mad River Theater Works (OH), Jobsite Theater (FL), Soul Rep Theatre Company (TX), Rec Room Arts (TX), "MildredS Umbrella Theater Company (TX)", Theatre Project (MD), Coho Productions Ltd (OR), Portland Experimental Theatre Ensemble (Pete) (OR), Shaking The Tree Theatre (OR), Corrib Theatre (OR), Triangle Productions (OR), Passinart A Theatre Company (OR), Enlightened Theatrics (OR)
BUDGET GROUP 2 THEATRES ($500,000 – $999,999) Average: $764,641 Idris Ackamoor & Cultural Odyssey (CA), Playground (CA), Chester Theatre Company (MA), "MarthaS Vineyard Playhouse (MA)", Theatre Exile (PA), Black Theatre Troupe (AZ), Deaf West Theatre Co. (CA), Williamston Theatre (MI), About Face Theatre (IL), Theater Wit (IL), Silk Road Rising (IL), Open Stage Of Harrisburg (PA), Commonweal Theatre Company (MN), Millan Theatre Co D/B/A/ Detroit Repertory Theatre (MI), Will Geer Theatricum Botanicum (CA), International City Theatre (CA), Austin Playhouse (TX), The Rogue Theatre (AZ), 24Th Street Theatre (CA), Rogue Machine Theatre (CA), Fountain Theatre (CA), Independent Shakespeare Co. (CA), Know Theatre Of Cincinnati (OH), Tantrum Theater (OH), Dobama Theatre (OH), The Warehouse Theatre (SC), Island City Stage (FL), Uptown Players (TX), The Catastrophic Theatre (TX), 4Th Wall Theatre Company (TX), Miracle Theatre Group (OR), Third Rail Repertory Theatre (OR), Oregon Contemporary Theatre (OR), Stumptown Stages (OR), Bag And Baggage Productions (OR), Teatro Vision De San Jose (CA), Sacramento Theatre Company (CA)
BUDGET GROUP 3 THEATRES ($1 million – $2,999,999)
Average: $1,759,752
New Conservatory Theatre Center (CA), Youth Speaks (CA), Z Space Studio (CA), Magic Theatre (CA), Shotgun Players (CA), The Ensemble Studio Theatre (NY), Irondale Productions (NY), Merrimack Repertory Theatre (MA), New Dramatists (NY), Lantern Theater Company (PA), Quintessence Theatre Group (PA), 1812 Productions (PA), Colorado Springs Fine Arts Center (CO), Valley Youth Theatre (AZ), Theater Works (AZ), Forward Theater Company (WI), The Antaeus Company (CA), Remy Bumppo Theatre Company (IL), American Blues Theater (IL), Act Ii Playhouse (PA), Interact Theatre Company (PA), Stages Theatre Company (MN), Mixed Blood Theatre (MN), Detroit Public Theatre (MI), "The Actors Gang (CA)", L.A. Theatre Works (CA), The Theatre @ Boston Court (CA), Quantum Theatre (PA), Diversionary Theatre Productions (CA), The Magik Theatre (TX), East West Players (CA), Cornerstone Theater Company (CA), The Human Race Theatre Company (OH), True Colors Theatre Company (GA), Spanish Theatre Repertory (NY), Short North Stage (OH), Contemporary American Theatre Company (Catco) (OH), "Columbus ChildrenS Theatre (OH)", Near West Theatre (OH), Karamu House (OH), Gablestage Inc (FL), St Louis Black Repertory Company Inc (MO), Shakespeare Festival St Louis (MO), Shakespeare Dallas (TX), Stage West Theatre (TX), Portland Playhouse (OR), Profile Theatre Project (OR), Mill Mountain Playhouse Co (VA), "Young Playwrights Theater (DC)", City Lights Theater Company Of San Jose (CA), San Jose Stage Company (CA)
BUDGET GROUP 4 THEATRES ($3 million – $4,999,999)
Average: $3,822,114
Ensemble Theatre Company (CA), Pcpa (Pacific Conservatory Of The Performing Arts) (CA), Wilma Theater (PA), Childsplay (AZ), Merry-Go-Round Playhouse (NY), North Coast Repertory Theatre (CA), Philadelphia Theatre Company (PA), Northlight Theatre (IL), Penumbra Theatre Company (MN), A Noise Within (CA), City Theatre Company (PA), Latino Theater Company (CA), Ensemble Theatre Cincinnati (OH), Cincinnati Shakespeare Company (OH), Theaterworks Inc (CT), Long Wharf Theatre (CT), Shadowbox Live (OH), Cleveland Public Theatre (OH), Great Lakes Theater Festival (OH), Charleston Stage Company (SC), Playmakers Repertory Company (NC), Main Street Theater At Autry House (TX), Artists Repertory Theatre (OR), Oregon Children"S Theatre Company (OR), Virginia Stage Company (VA), Mosaic Theater Company Of Dc (DC)
BUDGET GROUP 5 THEATRES ($5 million – $9,999,999)
Average: $7,294,503
Barrington Stage Company Inc (MA), Arden Theatre Company (PA), Pioneer Theatre Company (UT), American Players Theatre Of Wisconsin (WI), Lookingglass Theatre Company (IL), Writers Theatre (IL), Geva Theatre Center (NY), Pittsburgh Public Theater Corporation (PA), The Laguna Playhouse (CA), Arizona Theatre Company (AZ), The Shakespeare Center Of Los Angeles (CA), Arts Center Of Coastal Carolina (SC), Northern Stage Company (VT), Hartford Stage Company (CT), Actors Theatre Of Louisville Inc (KY), Yale Repertory (CT), Indiana Repertory Theatre Inc (IN), Theatre For A New Audience (NY), George Street Playhouse Inc (NJ), Naples Players Inc (FL), Dallas Theater Center (TX), Stages Inc (TX), Round House Theatre (MD), Everyman Theatre (MD), Center Stage Associates (MD), Seattle Children’s Theatre Association (WA), Theatre Squared Inc (AR), Portland Center Stage (OR), Woolly Mammoth Theatre Company (DC)
BUDGET GROUP 6 THEATRES ($10 million or more)
Average: $16,696,799
American Conservatory Theater (CA), Huntington Theatre Company (MA), American Repertory Theatre Company (MA), Berkeley Repertory Theatre (CA), Roundabout Theatre Company (NY), The Vivian Beaumont Theater (NY), Phoenix Theatre (AZ), Steppenwolf Theatre Company (IL), Chicago Shakespeare Theater (IL), Arvada Center For The Arts & Humanities (CO), Zach Theatre (TX), Center Theatre Group Of Los Angeles (CA), Geffen Playhouse (CA), Autry Museum Of The American West (CA), Cincinnati Playhouse In The Park (OH), Alliance Theatre (GA), Trinity Repertory Company (RI), The Public Theater (NY), Atlantic Theater Company (NY), Cleveland Play House (OH), Mccarter Theatre Company (NJ), Maltz Jupiter Theatre Inc (FL), Florida Studio Theatre Inc (FL), Asolo Theater Inc (FL), Repertory Theatre Of St Louis (MO), Alley Theatre (TX), Seattle Repertory Theatre (WA), Oregon Shakespeare Festival (OR)