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Walnut Street Theatre Corp

EIN 23-1715152 · Philadelphia, PA

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

LegitimacyPassesRegistration and standingFinancial healthGood89 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE MISSION OF WALNUT STREET THEATRE COMPANY IS TO SUSTAIN THE TRADITION OF PROFESSIONAL THEATRE AND CONTRIBUTE TO ITS FUTURE VIABILITY AND VITALITY.IT DOES SO THROUGH:- THE PRODUCTION AND PRESENTATION OF PROFESSIONAL THEATRE;- THE ENCOURAGEMENT, TRAINING AND DEVELOPMENT OF ARTISTS;- THE CULTIVATION OF DIVERSE AUDIENCES AND THE PRESERVATION AND CHRONICLING OF ITS THEATRE BUILDING, A NATIONAL HISTORIC LANDMARK

Income
$18.6 million
Spending
$16.0 million
Spent on programs
76%
Reserves
9.6 months of spending
Largest source of income
fees for its services, 60%
Employees
322
Volunteers
350
Highest pay
$841,556, president & producing 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

Good: 89 out of 100. Higher than 70% of charities in its peer group (arts and culture, $10m to $100m).

  • Reserves

    28 of 35

    Spendable reserves would cover 9.6 months of spending.

  • Debt

    16 of 20

    It owes 18% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 14% of income.

  • Income trend

    15 of 15

    Income rose 37% on the year before.

  • Spending floor

    15 of 15

    76% of spending went to programs and raising each dollar of donations cost 12 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

Strong: 100 out of 100. Higher than 34% of charities in its peer group (arts and culture, $10m to $100m).

  • Independent board

    25 of 25

    19 of 20 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a 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 (2)
  1. $11.4 million spent. MAINSTAGE PRODUCTIONS:DURING THE 2024-25 SEASON, WALNUT STREET THEATRE MAINSTAGE PRODUCTIONS WELCOMED 167,067 ATTENDEES, INCLUDING 21,925 SUBSCRIBERS. THE COMPANY PROVIDED EMPLOYMENT TO OVER 440 WORKERS. THE SEASON INCLUDED JERSEY BOYS, ELF THE MUSICAL, DRIVING MISS DAISY, NOEL COWARD'S HAY FEVER, AND DREAMGIRLS. THE SEASON ALSO INCLUDED A HOLIDAY CONCERT FEATURING HUGH PANARO.
  2. $767,904 spent. THEATRE SCHOOL:DURING THE 2024-2025 SEASON, OUR THEATRE SCHOOL WORKED WITH 68 TEACHING ARTISTS AND 1,238 STUDENTS. CAMP WALNUT PRODUCED SIX DIVISIONS FOR 128 STUDENTS WITH 11 TEACHING ARTISTS. CAMP HELD 12 LIVE PERFORMANCES FOR FRIENDS AND FAMILY. TOURING OUTREACH SERVED 41 DISTRICTS, 124 SCHOOLS, 239 PERFORMANCES AND 59,391 STUDENTS. THE ADOPT-A-SCHOOL PROGRAM SERVED FIVE PHILADELPHIA SCHOOLS THIS PAST YEAR. THROUGH THIS INITIATIVE, FIVE OF OUR WST TEACHING ARTISTS TAUGHT 2,247 STUDENTS. OUR RESIDENCY PROGRAM HAD 17 WST TEACHING ARTISTS SERVING 25 SCHOOLS AND REACHING 1,238 TOTAL STUDENTS. WALNUT STREET THEATRE KIDS SERIES HAD 38 STUDENTS FROM WALNUT STREET THEATRE SCHOOL, AND EIGHT ARTISTIC STAFF MOUNTED FULLY STAGED ADAPTATIONS OF A CHRISTMAS CAROL AND ALADDAN JR. THESE TWO KIDS SERIES SHOWS, ALONG WITH STUDENT GROUPS ATTENDING OUR MAINSTAGE PRODUCTION OF A CHRISTMAS STORY, WELCOMED 37,567 STUDENTS OVER THE COURSE OF THE ACADEMIC YEAR TO OUR MAINSTAGE. DISNEY MUSICALS IN SCHOOLS HAD FOUR WST TEACHING ARTISTS AND THE WST EDUCATIONAL STAFF SERVED TWO SCHOOLS, AND 71 STUDENTS WERE ABLE TO PARTICIPATE IN THE DISNEY MUSICAL IN SCHOOLS PROGRAM. 83 SCHOLARSHIPS WERE AWARDED TO DESERVING STUDENTS FOR OUR THEATRE SCHOOL PROGRAM IN 2025. OUR PROFESSIONAL APPRENTICE PROGRAM PROVIDED TRAINING FOR 23 STUDENTS.

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 October 13, 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 October 13, 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 October 13, 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 October 13, 2026.

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

    Recognized by the IRS since October 1969.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 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 21, 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.