Omaha Academy of Ballet

Analysis

Omaha Academy of Ballet is a registered charity in United States, based in Omaha, NE. It received its IRS tax-exemption ruling in November 1970, 56 years ago. 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, Omaha Academy of Ballet reported income of $441k and spending of $511k, spending 116% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $527k to $441k (-16%), an average of -4.4% a year. The sharpest change came in the year to August 2021, when income rose by 29%. Over the whole period it spent 96% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Omaha Academy of Ballet sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 67th percentile within NE. Charities of a similar size with the same main cause include El Campo Area Work Shop for Developmentally Disabled Inc ($441k), Raedi Foundation ($441k) and Orinda Baseball Association ($441k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 13% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $70k (14% of expenses). Other salaries and wages came to $199k. At year end it held assets of $1.9m against liabilities of $149k, net assets of $1.7m. It reported 44 employees.