Improv Conspiracy Productions Ltd is the not-for-profit arm of The Improv Conspiracy Theatre, established in 2021 as part of a two-company structure designed to separate commercial education activities from the organisation's artistic and community-focused mission.

The not-for-profit is responsible for producing and scheduling the theatre's year-round performance program, supporting emerging artists, managing community initiatives and delivering diversity and inclusion programs.

The company exists to foster and showcase the best improv and comedy in Australia by providing opportunities for performers at every stage of their development. It produces in-house shows, supports independent artists through residencies and one-off performances, maintains regular community line-up shows and open-access improv jams, and administers scholarship programs that help make participation in comedy more accessible.

Its primary sources of income are ticket sales and philanthropic support, with all revenue reinvested into its artistic and community activities.