One of the less widely known perks of being in New York this time of year is that you can count on thoroughly charming seasonal entertainment from Irish Repertory Theatre. Last year, the duly celebrated company revived “The Dead, 1904,” its immersive adaptation of the James Joyce novella, and also offered its seventh presentation of “A Child’s Christmas in Wales,” based on a prose piece by Dylan Thomas, the Welsh poet.

This December, Irish Rep has turned to an American holiday classic: “It’s a Wonderful Life!” — not Frank Capra’s 1946 film, exactly, but a radio play adapted from the movie, which was itself based on a short story, Philip Van Doren Stern’s “The Greatest Gift,” inspired by Charles Dickens’s “A Christmas Carol.”

Charlotte Moore, the company’s artistic director, has assembled a small cast of nimble actors and singers to revisit Anthony E. Palermo’s radio script, embellished with tunes ranging from yuletide favorites to standards such as “Blue Skies” and “Brother, Can You Spare a Dime?” The performers gather on James Morgan’s simple, festive set before a batch of microphones, simulating a 1940s broadcast.

An old-school applause sign hangs above the stage as musical director and accompanist David Hanock Turner, one of several alumni from “Child’s Christmas,” steps forward from behind the piano to welcome the audience to WIRT, a fictional radio station in New York City. We then meet an announcer, one of numerous roles played by Rufus Collins, an Irish Rep stalwart and Broadway veteran.

Mr. Collins next appears as the superintendent of heaven, who is, for anyone unfamiliar with the story, charged with sending Clarence, a “second-class” angel, on a mission to save one George Bailey, an eternally self-sacrificing man who has been driven to the brink of suicide on Christmas Eve.

The actor cast as George is played here by Reed Lancaster, who channels the folksy likability that James Stewart gave the hero onscreen, right down to that quirky, now quaint Northeastern accent. Ali Ewoldt brings a sunny, winsome presence and sterling soprano to the actress who plays George’s wife, Mary.

The other players, in their guises as radio performers, each juggle a variety of characters. Mr. Collins’s include Mr. Potter, the Scrooge-like business mogul who is the story’s antagonist, to Mr. Gower, the neighborhood pharmacist and one of many locals who benefit from the good will that George demonstrates from boyhood on.

Mr. Collins also appears as George’s father; the actress playing the protagonist’s mother is portrayed by Leenya Rideout, whose other parts range from the flirty Violet to George and Mary’s very young daughters, as well as Ernie, the scrappy cab driver who accompanies George at a few key moments. Ashley Robinson’s actor takes on an equally hefty, if not quite as eclectic, stack of roles, among them Clarence and George’s similarly hapless-seeming Uncle Billy.

As most know, Clarence turns out to be more resourceful than he appears at first. But it’s a testament to the twinkling appeal of this “It’s a Wonderful Life!” that, no matter how many times you’ve seen the movie, you’ll feel a warm glow when this angel finally earns his wings.