Maine State Ballet

Analysis

Maine State Ballet is a registered charity in United States, based in Falmouth, ME. It received its IRS tax-exemption ruling in April 1987, 39 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Maine State Ballet reported income of $1.3m and spending of $1.2m, spending 97% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $1.1m to $1.3m (+11%), an average of +2.7% a year. The sharpest change came in the year to August 2021, when income rose by 22%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Maine State Ballet sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 79th percentile within ME. Charities of a similar size with the same main cause include Northwest Arkansas Womens Resources Inc ($1.3m), Pallottine Renewal Center Inc ($1.3m) and Joseph J Yancy Jr Housing Development Fund Company Inc ($1.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 5.3% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $146k (12% of expenses). Other salaries and wages came to $324k. At year end it held assets of $2.6m against liabilities of $1.4m, net assets of $1.3m. It reported 38 employees.