Olympic Ballet Theatre

Analysis

Olympic Ballet Theatre is a registered charity in United States, based in Edmonds, WA. It received its IRS tax-exemption ruling in May 1972, 54 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, Olympic Ballet Theatre reported income of $447k and spending of $420k, spending 94% of its income. Across the 4 years on record, from June 2019 to August 2023, income grew from $238k to $447k (+88%), an average of +24% a year. The sharpest change came in the year to August 2023, when income rose by 34%. Over the whole period it spent 98% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Olympic Ballet Theatre sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within WA. Charities of a similar size with the same main cause include Marian Mullin Hancock Charitable TR 031893 ($447k), Lynn Canal Broadcasting ($447k) and Concept Therapy Institute Inc ($447k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 35% and program service revenue 56% of the total. Other salaries and wages came to $55k. At year end it held assets of $329k against liabilities of $35k, net assets of $295k. It reported 4 employees.