Atlantic City Ballet

Analysis

Atlantic City Ballet is a registered charity in United States, based in Atlantic City, NJ. It received its IRS tax-exemption ruling in July 1983, 43 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 June 2023, Atlantic City Ballet reported income of $289k and spending of $312k, spending 108% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $236k to $289k (+22%), an average of +5.2% a year. The sharpest change came in the year to June 2022, when income rose by 75%. Over the whole period it spent 102% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Atlantic City Ballet sits at the 59th percentile: it is larger than about 59% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 67th percentile within NJ. Charities of a similar size with the same main cause include Repairing the Breach Memphis ($289k), Nahnum Church ($289k) and Washington Multicultural Services Link ($289k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 35% of the total. Other salaries and wages came to $168k. At year end it held assets of $49k against liabilities of $81k, net assets of -$32k. It reported 31 employees.