Grand Rapids Ballet Co

Analysis

Grand Rapids Ballet Co is a registered charity in United States, based in Grand Rapids, MI. It received its IRS tax-exemption ruling in June 1974, 52 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 June 2023, Grand Rapids Ballet Co reported income of $2.8m and spending of $3.4m, spending 121% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.9m to $2.8m (+51%), an average of +15% a year. The sharpest change came in the year to June 2022, when income rose by 72%. Over the whole period it spent 113% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grand Rapids Ballet Co 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 88th percentile, and in the 89th percentile within MI. Charities of a similar size with the same main cause include Empire State Youth Orchestra ($2.8m), Aspen Center for Physics ($2.8m) and Long Beach Island Foundation of the Arts and Sciences ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 38% and program service revenue 52% of the total. Compensation of current officers, directors and key employees was $219k (6.5% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $5.8m against liabilities of $1.0m, net assets of $4.8m. It reported 61 employees.