Ballet Lubbock

Analysis

Ballet Lubbock is a registered charity in United States, based in Lubbock, TX. It received its IRS tax-exemption ruling in March 1976, 50 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, Ballet Lubbock reported income of $2.4m and spending of $2.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.4m to $2.4m (+81%), an average of +16% a year. The sharpest change came in the year to June 2021, when income rose by 52%. Over the whole period it spent 76% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ballet Lubbock sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within TX. Charities of a similar size with the same main cause include Amarillo Symphony Inc ($2.4m), Soldiers and Sailors Memorial Hall and Museum Trust Inc ($2.4m) and Breckenridge History ($2.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $148k (6.2% of expenses). Other salaries and wages came to $518k. At year end it held assets of $10.8m against liabilities of $4.4m, net assets of $6.4m. It reported 61 employees.