Festival Ballet Albuquerque

Analysis

Festival Ballet Albuquerque is a registered charity in United States, based in Albuquerque, NM. It received its IRS tax-exemption ruling in April 2010, 16 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 December 2023, Festival Ballet Albuquerque reported income of $346k and spending of $316k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $399k to $346k (-13%), an average of -3.5% a year. The sharpest change came in the year to December 2022, when income rose by 111%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festival Ballet Albuquerque sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 62nd percentile within NM. Charities of a similar size with the same main cause include Charlotte Center for Literary Arts Inc ($346k), Bronx Conservatory of Music ($346k) and PPC Entertainment Inc ($346k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 32% and program service revenue 59% of the total. Other salaries and wages came to $3,233. It paid $593 in professional fundraising fees. At year end it held assets of $75k against liabilities of $27, net assets of $75k. It reported 3 employees.