New York City Ballet Inc

Analysis

New York City Ballet Inc is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1978, 48 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, New York City Ballet Inc reported income of $77.4m and spending of $94.3m, spending 122% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $91.2m to $77.4m (-15%), an average of -4.0% a year. The sharpest change came in the year to June 2022, when income rose by 144%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, New York City Ballet Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include University Corporation for Advanced Internet Development ($77.3m), California Science Center Foundation ($77.5m) and The Musical Arts Association ($76.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $2.3m (2.4% of expenses). Other salaries and wages came to $43.5m. It paid $259k in professional fundraising fees. At year end it held assets of $316.7m against liabilities of $24.3m, net assets of $292.4m. It reported 1,339 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.