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The Royal National Theatre
The Royal National Theatre reported $176.9 million in revenue and $167.8 million in expenses for the fiscal year ending March 31, 2025. Of every $100 it spent, $86.66 went to program services, $10.42 to management and general costs and $2.92 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 57.9% of the total. Government grants made up 18.7%. The highest compensation it reported for one person was $301,845 (Co-Chief Executive). 37 people received more than $100,000 in reportable compensation. Revenue rose 30% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending March 31, 2025 · Form 990, Part IX, line 25 · total expenses $168MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending March 31, 2025 · Form 990, Part VIII · total revenue $177MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 86.7% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.4% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.9% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.07 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 39.8% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 18.7% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 57.9% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $301,845 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.18% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 37 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 8.2 | 36.6 |
| Independent voting board members Part VI 1a–1b | 14 of 14 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseOur theatres on the South Bank In 2024/25, we staged 19 plays and musicals across the globe, including 13 productions in our theatres on the South Bank, five of which were world premieres. Our three theatres remained strongly attended at 81% seated capacity and we have continued to grow new audiences, with 94% of first-time attendees rating their experience as 'excellent'very good'. River Stage drew 36,000 visitors to London's largest free outdoor arts festival with four weekends of music, theatre, dance and workshops in collaboration with The Glory, Greenwich Docklands International Festival…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| Co-Chief Executive Officer, 40.0 hrs/week | $231,966 | $0 | $69,879 | $301,845 |
| Director & Chief Executive Officer, 40.0 hrs/week | $235,937 | $0 | $35,418 | $271,355 |
| CHIEF OPERATING OFFICER Officer, 40.0 hrs/week | $196,352 | $0 | $19,635 | $215,987 |
| Director & Co-Chief executive Officer, 40.0 hrs/week | $173,042 | $0 | $25,956 | $198,998 |
| DIRECTOR OF DEVELOPMENT Highest compensated employee, 40.0 hrs/week | $172,568 | $0 | $10,354 | $182,922 |
| DIRECTOR OF CULTURE Highest compensated employee, 40.0 hrs/week | $152,103 | $0 | $11,408 | $163,511 |
| DIR. OF PRODUCTION & TECHNICAL Highest compensated employee, 40.0 hrs/week | $145,190 | $0 | $10,889 | $156,079 |
| Managing Dir. & Producer Highest compensated employee, 40.0 hrs/week | $145,190 | $0 | $10,889 | $156,079 |
37 people received more than $100,000 in reportable compensation from The Royal National Theatre (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.1M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b14 · 14 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 50
- Volunteers Part I, line 620
Correct a figure or respond
Every number above is copied from The Royal National Theatre's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Royal National Theatre, you can publish a response that is linked from this page.
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Of every $100 The Royal National Theatre spent in FY2025, $86.66 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- National Foundation for the Centers for Disease Control and PreventionAtlanta, GA · revenue $166M · programs 87.7% · FY2025
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- Boston Symphony OrchestraBoston, MA · revenue $155M · programs 81.8% · FY2025
All arts, culture & humanities charities · Largest charities in New York
Questions people ask
How much of The Royal National Theatre's spending goes to programs?
In the fiscal year ending March 31, 2025, The Royal National Theatre reported that 86.7% of its $167.8 million in expenses went to program services, 10.4% to management and general and 2.9% to fundraising (Form 990, Part IX).
How much does The Royal National Theatre pay its top executive?
The largest total compensation The Royal National Theatre reported for one person in the fiscal year ending March 31, 2025 was $301,845, for the role of Co-Chief Executive (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Royal National Theatre get its money?
Of $176.9 million in revenue in the fiscal year ending March 31, 2025, 39.8% came from contributions and grants (including 18.7% from government grants) and 57.9% from program service revenue (Form 990, Part VIII).
Is The Royal National Theatre a registered charity?
The IRS lists EIN 38-3866410 as a 501(c)(3) organization (publicly supported organization (509(a)(2))). Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending March 31, 2025, object 202640479349300919 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending March 31, 2024, object 202500489349300935 · read the filing
- FY2023: Form 990 for the fiscal year ending March 31, 2023, object 202400469349302655 · read the filing
- FY2022: Form 990 for the fiscal year ending March 31, 2022, object 202320469349302272 · read the filing
- FY2021: Form 990 for the fiscal year ending March 31, 2021, object 202240469349301144 · read the filing
- FY2020: Form 990 for the fiscal year ending March 31, 2020, object 202140439349300534 · read the filing
All filings for EIN 38-3866410: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.