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Theatre Squared Inc

EIN 20-1016258 · Fayetteville, AR

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak41 out of 100GovernanceGood85 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THEATRESQUARED IS A CULTURAL COMMONS, A GATHERING PLACE FOR ALL SEGMENTS OF OUR COMMUNITY TO SHARE INTIMATE, EXCEPTIONAL ARTS EXPERIENCES THAT ACTIVATE OUR SENSE OF A SHARED HUMANITY. THE COMPANY CREATES REMARKABLE PROFESSIONAL THEATRE; EXPANDS ARTS ACCESS AMONG AUDIENCES AND IN SCHOOLS; SERVES AS A NATIONAL CENTER FOR THE CREATION OF NEW PLAYS; AND DRAWS FROM DIVERSE ARTS-CULINARY, FILM, MUSIC, VISUAL, AND MORE-TO CREATE A WELCOMING AND VIBRANT SHARED COMMUNITY SPACE.

Income
$6.0 million
Spending
$7.2 million
Spent on programs
85%
Reserves
-3.7 months of spending
Largest source of income
donations and private grants, 61%
Employees
211
Volunteers
100
Highest pay
$163,913, artistic dir

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 41 out of 100. Higher than 12% of charities in its peer group (arts and culture, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    16 of 20

    It owes 16% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 20% of income.

  • Income trend

    10 of 15

    Income fell 5% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 11 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 85 out of 100. Higher than 38% of charities in its peer group (arts and culture, $1m to $10m).

  • Independent board

    25 of 25

    14 of 14 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $6.1 million spent. DURING THE 2024-25 SEASON, THEATRESQUARED WELCOMED MORE THAN 70,000 COMMUNITY MEMBERS TO MORE THAN 350 PERFORMANCES AND EVENTS AT THE THEATRE, IN THE COMMONS, AND IN SCHOOLS THROUGHOUT THREE STATES INCLUDING 17,000 STUDENTS AND THEIR TEACHERS.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending June 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since February 2005.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.