Cleveland Ballet

Analysis

Cleveland Ballet is a registered charity in United States, based in Bedford HTS, OH. It received its IRS tax-exemption ruling in July 2015, 11 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 July 2022, Cleveland Ballet reported income of $2.0m and spending of $2.0m, spending 99% of its income. Across the 3 years on record, from July 2020 to July 2022, income grew from $1.0m to $2.0m (+97%), an average of +40% a year. The sharpest change came in the year to July 2022, when income rose by 68%. Over the whole period it spent 97% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Cleveland Ballet sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within OH. Charities of a similar size with the same main cause include Aaca Museum Inc ($2.0m), Charlottesville Ballet ($2.0m) and Dancers Workshop ($2.0m).

On its Form 990 for the period ending July 2022, revenue came from contributions and grants 61% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $146k (7.2% of expenses). Other salaries and wages came to $796k. At year end it held assets of $350k against liabilities of $263k, net assets of $87k. It reported 46 employees.