Madison Ballet Inc

Analysis

Madison Ballet Inc is a registered charity in United States, based in Madison, WI. It received its IRS tax-exemption ruling in December 1983, 43 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 August 2023, Madison Ballet Inc reported income of $1.2m and spending of $1.5m, spending 132% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $1.6m to $1.2m (-29%), an average of -8.2% a year. The sharpest change came in the year to August 2022, when income rose by 51%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Madison Ballet Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within WI. Charities of a similar size with the same main cause include South Carolina Humanites Council ($1.2m), Mosquito and Vector Control Association of California ($1.2m) and Saratoga International Theater Institute Inc ($1.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 21% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $137k (8.9% of expenses). Other salaries and wages came to $469k. At year end it held assets of $1.9m against liabilities of $1.7m, net assets of $221k. It reported 55 employees.