A non-profit, the theatre company is supported by individual and corporate donations, government sources, and box office ticket sales.

The 5th Avenue Theatre has established a tradition of being a "testing ground" for new musicals before they make their debut on Broadway, launching hits such as Jekyll & Hyde, Hairspray, and The Wedding Singer.

The theatre also hosts a variety of special events, and offers education and outreach programs to school-age children and adults reaching over 61,000 students, professional performers, and audiences each year.

Located in the Skinner Building, a historic office block ranging from five to eight stories with retail shops on the ground level, the theatre is surrounded on three sides, with its entry facing its namesake avenue.

[2] Robert C. Reamer's design for the 5th Avenue Theatre was modeled to reproduce some of the features of historic and well-known Beijing landmarks.

Here, adorning the ceiling are plaster representations of wood brackets, beams, and carved reliefs painted in a polychromatic scheme and decorated with stenciled dragons and flower patterns.

Coiled within an azure sphere and surrounded by glowing hues of cloud red, emblematic of calamity and welfare; blue of rain; green symbolic of plaque; black of flood; and gold of prosperity—is the Great Dragon, guardian genius of the place, his presence shadowed and multiplied in varying forms throughout the structure.

On the huge beams surrounding and supporting the dome are five-clawed dragons—the Emperor's emblem—spitting fire in pursuit of the Jewel, rendered in the shape of a disc emitting effulgent rays, and symbolic of Omnipotence.

The Imperial dragon is accompanied by the symbol of the Empress, the Chinese phoenix (Fèng huáng), sometimes called Ho-Ho or Ho-Oh Bird from the Japanese.

This personal symbol of the Empress is also repeated throughout the theatre, but most prominently in relief as part of the grills above false balconies that once screened organ pipes.

[9] The planned Skinner Building with a theatre owned by Arthur's company would complete the Stimson development of the Metropolitan Tract.

[12] The opening program included the silent film Young April, Fanchon and Marco's stage presentation The Night Club, and Lipschultz and his Syncopated Soloists.

[13] Oliver Wallace, a popular local musician and composer, returned from Portland, Oregon, to be the accompanying organist for opening night.

[16] Additionally, dance bands were placed at the closed intersections to provide entertainment and, using giant screens to project the words, a sing-along was orchestrated on Fifth Avenue in front of the theatre.

With the economic recession, the advent of television, and movie complex development in the suburbs, crowds dwindled and the theatre struggled to stay open.

A variety of re-use possibilities were proposed for the theatre including a Chinese restaurant, a triplex movie theater, an office building, or a shopping center.

[5][11][16][17] The city of Seattle was unable to protect the theatre as a designated landmark because of its unique position on the site of the original territorial university grounds owned by the state of Washington.

The vertical marquee which had marked the theatre's presence from 1926 to 1980, was removed,[22] the orchestra pit and auditorium seating were rebuilt, the dressing rooms moved, and the technical systems updated.

At the Grand Opening Gala for the renovated theatre, actress Helen Hayes christened the stage with a kiss and declared the 5th "a national treasure."

The marquee was made possible through a donation from Christabel Gough, daughter of Broadway producer and early 5th Avenue promoter Roger L. Stevens.

[17][30] A non-profit, the theatre company is supported by individual and corporate donations, government sources, and box office ticket sales.

[35] The film adaptation of Hairspray premiered at the 5th on July 16, 2007 (4 days prior to its nationwide release) as an acknowledgement of the 5th's role in the musical's success on Broadway.

Along with their successful pre-Broadway tryouts, the 5th Avenue Theatre has also performed two musicals, Princesses in 2005 and Lone Star Love in 2007, which were originally scheduled to go to Broadway, but did not due to poor reviews.

The theatre also hosts a variety of special events, and offers a number of education and outreach programs to school-age children and adults reaching over 61,000 students, professional performers, and audiences each year.

At the end of each school year, a Tony Awards-style ceremony is held which includes high-profile presenters, performances by nominees, and acceptance speeches by the award recipients.