Theatre Puget Sound
Public records show a registered, tax-exempt organization in good standing.
What it says it does
TPS works to foster and advocate for a robust and equitable theatre community in the Puget Sound Region.
- Income
- $574,555
- Spending
- $596,207
- Spent on programs
- 78%
- Reserves
- -1.2 months of spending
- Largest source of income
- fees for its services, 51%
- Employees
- 12
- Volunteers
- 76
- Highest pay
- $85,000, executive director
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 43 out of 100. Higher than 12% of charities in its peer group (arts and culture, $250k to $1m).
Reserves
0 of 35Spendable reserves are negative: it owes or has committed more than it holds.
Debt
5 of 20It owes 70% of what it owns.
Living within its means
8 of 15Spending exceeded income by 4% of income.
Income trend
15 of 15Income rose 12% on the year before.
Spending floor
15 of 1578% of spending went to programs and raising each dollar of donations cost 15 cents.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 71 out of 100. Higher than 47% of charities in its peer group (arts and culture, $250k to $1m).
Independent board
25 of 2511 of 11 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
0 of 8Reports no written whistleblower policy.
Record keeping policy
0 of 7Reports no written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
0 of 5Reports no independent review process for its chief executive's pay.
Independent check of accounts
6 of 15Its accounts were not audited or reviewed by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 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 (4)
- $252,897 spent. Space4Arts, TPS provides affordable and deeply discounted rental spaces, including three performance spaces, nine rehearsal studios, and one conference room (approximately 25,000 total square feet) for use by any artists or arts organization. This program is possible in partnership with Seattle Center and the City of Seattle.
- $86,092 spent. TPS Membership and Programming - The TPS membrship website acts as a central message board for jobs, auditions, workshops, educational and employment opportunities, and more. Additionally, the Member Directory helps to connect industry members throughout the community. The TPS website and newsletter also promote theatre organizations and performances around the Puget Sound.
- $51,877 spent. Stage Workers Week includes the Unified General Auditions, Playwrite Pitches, Tech & Design Job Fair, and preparatory workshops which give artists the opportunity to network with and audition before numerous theatre companies, agents, and other organizations simultaneously. In 2025 more than 400 actors, singers, technicians, and designers showcased their talents to 60 theatres and organizations.
- $75,187 spent. Gregory Awards - 2025 expanded the Gregory Awards Program and culminating ceremony recognizing outstanding achievement by theaters in the Puget Sound Region. 42 organizations and 85 shows submitted their works for nearly 671 nominations, with 35 recipients honored for outstanding achievements in the local performing arts. More than 500 community members gathered for the 25th Annual Gregory Awards Ceremony.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 1999.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
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.