Ballet Hispanico of New York

Analysis

Ballet Hispanico of New York is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in December 1971, 55 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ballet Hispanico of New York reported income of $6.7m and spending of $9.9m, spending 148% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $7.5m to $6.7m (-12%), an average of -3.0% a year. The sharpest change came in the year to June 2021, when income rose by 124%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ballet Hispanico of New York sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Planes of Fame Air Museum ($6.7m), Florence Griswold Museum Inc ($6.7m) and Lyric Opera of Kansas City Inc ($6.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $895k (9.0% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $22.4m against liabilities of $2.9m, net assets of $19.5m. It reported 141 employees.