Magic Theatre INC

Tax-deductible

San Francisco, CA501(c)(3)Arts & CultureEIN 94-1733420Revenue $1.5M in FY2025

On file with the IRSmagictheatre.org2 Marina Blvd Bldg D, 94123-1284 · San Francisco, CATax-exempt since Feb 1971Publicly supported charity — 170(b)(1)(A)(vi)

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Magic Theatre is a place where emerging and established playwrights engage audiences in a unique experience; the chance to participate in the development of new work that is staged in an intimate, professional setting that speaks to contemporary issues with originality and wit, a sense of urgency and adventure.

501(c)(3) charity; gifts are tax-deductible.
66¢ of each $1 spent went to programs.
Run by 60 volunteers and 40 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $49K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$200K
to officers and key staff · 12% of spending
Top officer’s pay lower than 52% of similar orgs
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.2 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
15
named funders · $771K
Looks good: 15 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$521K
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.5M
+2% vs prior year
Spent
$1.7M
To programs
66%
Net assets
$71K
By yearFY2020–FY2025
Revenue
$1.5M
FY2025▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$844K
FY2022$1.4M
FY2023$1.1M
FY2024$1.5M
FY2025$1.5M
Expenses
$1.7M
FY2025▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$688K
FY2022$1.2M
FY2023$1.5M
FY2024$1.7M
FY2025$1.7M
Net assets
$71K
FY2025▼ -70%
Tap a bar for its year
Net assets by fiscal year
FY2020$367K
FY2021$523K
FY2022$699K
FY2023$407K
FY2024$238K
FY2025$71K

From the FY2025 Form 990 (year ending August 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $1.1M Management & general 20% · $350K Fundraising 13% · $227K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $200K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Artistic Director
$120,000Pt VII · Sec A
Managing Director
$80,000Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Sean San Jose’s $120K as Artistic Director is at the 48th percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Loretta Greco—————$135,000
Sean San Jose$120,000$120,000$120,000$120,000$60,291—
Kevin Nelson$80,000$80,000$75,000$65,000——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Develops and stages new plays, involving audiences in the creative process.

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Provided by the organization

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1 program · $1.1M · in their own filed words · FY2024
01

Production of theatrical performances.

$1.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 15 funders →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$1.5M
Ln 12
Gifts and grantsLn 1h$1.2M
Fees for servicesLn 2g$188K
Other incomeLn 4–11$108K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.1M
Managementcol C$350K
Fundraisingcol D$227K
Owns and owesPt X
$71K
net assets · Ln 32
Cash and savingsLn 1–2$22K
Total assetsLn 16$592K
LiabilitiesLn 26$521K
PeoplePt VI, VII
12
listed · VII A
PaidVII A2
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2M
Government grantsLn 1e$178K
Noncash giftsLn 1g$23K
Fees for servicesLn 2g$188K
Investment incomeLn 3$5
Other incomeLn 4–11$108K
Total revenueLn 12$1.5M
Assets in detailPt X, end of year
CashLn 1$13K
SavingsLn 2$8K
Cash and savings togetherLn 1–2$22K
Land, buildings, equipmentLn 10c$65K
Other assetsLn 15$306K
Total assetsLn 16$592K
LiabilitiesLn 26$521K
Net assetsLn 32$71K
OperationsPt I, VI
EmployeesI 540
VolunteersI 660
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$96K$22K
Land, buildings, equipmentLn 10c$80K$65K
Total assetsLn 16$809K$592K
LiabilitiesLn 26$571K$521K
Net assetsLn 32$238K$71K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$200K$134K$35K$31K
Pay of disqualified personsLn 6$755K$505K$134K$116K
Accounting feesLn 11c$44K$44K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$18K$7K$6K$5K
OccupancyLn 16$150K$60K$49K$40K
TravelLn 17$21K$21K
InterestLn 20$4K$2K$1K$1K
Depreciation, depletion and amortizationLn 22$15K$6K$5K$4K
InsuranceLn 23$13K$5K$4K$3K
Other expenses (24a–d)Ln 24$342K$303K$38K
All other expensesLn 24e$150K$91K$33K$27K
Total functional expensesLn 25$1.7M$1.1M$350K$227K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.5M$1.7M−$167K$71K 990 PDF
FY2024 $1.5M$1.7M−$169K$238K 990 PDF
FY2023 $1.1M$1.5M−$367K$407K 990 PDF
FY2022 $1.4M$1.2M$176K$699K 990 PDF
FY2021 $844K$688K$156K$523K 990 PDF
FY2020 $1.4M$1.3M$78K$367K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $1,545,813 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,237,807$1,249,035
I-9 Program service revenuePrior year $202,468$188,328
I-10 Investment incomePrior year $2,146$5
I-11 Other revenuePrior year $67,099$108,445
I-12 Total revenuePrior year $1,509,520$1,545,813
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $955,411$954,766
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $722,866$757,863
I-18 Total expensesPrior year $1,678,277$1,712,629
I-19 Revenue less expensesPrior year −$168,757−$166,816
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,545,813 across 8 lines filed
VIII-1e Government grants$177,738
VIII-1f All other contributions, gifts and grants$1,071,297
VIII-1g Noncash contributions (included above)$22,683
VIII-1h Total contributions, gifts and grants$1,249,035
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $188,328$188,328
VIII-3 Investment incomeRelated to mission $5$5
VIII-8 Net income from fundraising eventsExcluded from tax $108,445$108,445
VIII-12 Total revenueRelated to mission $188,333 · Unrelated business $0 · Excluded from tax $108,445$1,545,813
Part IX · Statement of functional expenses $1,712,629 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $133,880 · Management $35,420 · Fundraising $30,700$200,000
IX-6 Pay of disqualified personsPrograms $505,240 · Management $133,669 · Fundraising $115,857$754,766
IX-11c Accounting feesManagement $43,959$43,959
IX-12 Advertising and promotionPrograms $1,381$1,381
IX-13 Office expensesPrograms $7,043 · Management $5,810 · Fundraising $4,754$17,607
IX-16 OccupancyPrograms $59,924 · Management $49,437 · Fundraising $40,448$149,809
IX-17 TravelPrograms $21,049$21,049
IX-20 InterestPrograms $1,609 · Management $1,326 · Fundraising $1,085$4,020
IX-22 Depreciation, depletion and amortizationPrograms $6,094 · Management $5,028 · Fundraising $4,113$15,235
IX-23 InsurancePrograms $5,101 · Management $4,208 · Fundraising $3,443$12,752
IX-24 Other expenses (24a–d)Programs $303,099 · Management $38,462$341,561
IX-24e All other expensesPrograms $90,863 · Management $32,762 · Fundraising $26,865$150,490
IX-25 Total functional expensesPrograms $1,135,283 · Management $350,081 · Fundraising $227,265$1,712,629
Part X · Balance sheet $592,086 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $83,485$13,231
X-2 Savings and temporary cash investmentsStart of year $12,439$8,447
X-4 Accounts receivableStart of year $203,000$197,000
X-9 Prepaid expenses and deferred chargesStart of year $13,893$3,235
X-10c Land, buildings and equipment, netStart of year $79,903$64,668
X-15 Other assetsStart of year $416,702$305,505
X-16 Total assetsStart of year $809,422$592,086
X-17 Accounts payable and accrued expensesStart of year $98,680$162,957
X-19 Deferred revenue$29,000
X-25 Other liabilitiesStart of year $397,717$286,520
X-26 Total liabilitiesStart of year $571,397$520,877
X-27 Net assets without donor restrictionsStart of year $153,858−$59,010
X-28 Net assets with donor restrictionsStart of year $84,167$130,219
X-32 Total net assets or fund balancesStart of year $238,025$71,209
X-33 Total liabilities and net assetsStart of year $809,422$592,086
Part XI · Reconciliation of net assets $71,209 net assets at year end
XI-1 Total revenue$1,545,813
XI-2 Total expenses$1,712,629
XI-3 Revenue less expenses−$166,816
XI-4 Net assets at start of year$238,025
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$71,209

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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