BALTIMORE THEATRE PROJECT
Mission Statement
Through the presentation of innovative theatre, dance, music, opera, poetry, and visual arts, Theatre Project connects greater Baltimore with a diverse and global community of emerging and established artists. Founded in 1971, Theatre Project is an internationally recognized presenter of new works, presenting artists from all over the world, without losing sight of Baltimore as our home. We support local artists by hosting the High Zero Festival and Artscape, providing technical assistance for emerging companies and individuals, and subsidizing rentals of our venue. We offer all visiting artists, whether students or mid-career creators, a fully professional atmosphere in which to hone their skills and perfect their material.
Financial Overview — FY 2025
Compared with Peers
FY 2025| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
58.4% | 81.9% |
P10P90
|
Bottom quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
41.7% | 13.7% |
P10P90
|
Bottom quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
0.0% | 0.0% |
P10P90
|
Top quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
8.1 mo | 9.4 mo |
P10P90
|
Below median |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
45.0% | 1.5% |
P10P90
|
Bottom quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
59.1% | 77.2% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
68.6% | 6.7% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
28.4% | 5.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
12.5% | 2.4% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2025 | $322K | $282K | $190K | 58.4% | 7 |
| 2024 | $191K | $220K | $121K | 100.0% | — |
| 2023 | $196K | $197K | $149K | 100.0% | — |
| 2022 | $258K | $192K | N/A | — | 4 |
| 2021 | $130K | $125K | N/A | — | 1 |
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