American Friends of Covent Garden the Royal Opera the Royal Ballet

Analysis

American Friends of Covent Garden the Royal Opera the Royal Ballet is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 1969, 57 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 August 2023, American Friends of Covent Garden the Royal Opera the Royal Ballet reported income of $3.4m and spending of $3.3m, spending 99% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $4.1m to $3.4m (-18%), an average of -4.9% a year. The sharpest change came in the year to August 2023, when income rose by 67%. Over the whole period it spent 112% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Friends of Covent Garden the Royal Opera the Royal Ballet sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 87th percentile within NY. Charities of a similar size with the same main cause include Collective Heritage Institute ($3.3m), Beth Morrison Projects ($3.4m) and Flushing Council on Culture and the Arts Inc ($3.3m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $103k (3.1% of expenses). At year end it held assets of $597k against liabilities of $50k, net assets of $547k.