Covenant Ballet Theatre of Brooklyn Inc

Analysis

Covenant Ballet Theatre of Brooklyn Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in August 2008, 18 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, Covenant Ballet Theatre of Brooklyn Inc reported income of $486k and spending of $468k, spending 96% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $297k to $486k (+64%), an average of +13% a year. The sharpest change came in the year to August 2023, when income rose by 49%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Covenant Ballet Theatre of Brooklyn Inc sits at the 77th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 66th percentile within NY. Charities of a similar size with the same main cause include Decimania Inc ($485k), Circus Education Specialists Inc ($486k) and Lighthouse Archaeological Maritime Program ($485k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 67% and program service revenue 35% of the total. Compensation of current officers, directors and key employees was $139k (30% of expenses). Other salaries and wages came to $22k. At year end it held assets of $363k against liabilities of $176k, net assets of $187k. It reported 3 employees.