Maryland Youth Ballet Inc

Analysis

Maryland Youth Ballet Inc is a registered charity in United States, based in Silver Spring, MD. It received its IRS tax-exemption ruling in July 1973, 53 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, Maryland Youth Ballet Inc reported income of $3.2m and spending of $2.6m, spending 81% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.3m to $3.2m (+39%), an average of +8.6% a year. The sharpest change came in the year to August 2023, when income rose by 25%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Maryland Youth Ballet Inc 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 89th percentile, and in the 88th percentile within MD. Charities of a similar size with the same main cause include Policy Research Inc ($3.2m), Foundation for Independent Artists Inc ($3.2m) and Inner City Youth Orchestra of Los Angeles Incorporated ($3.2m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 42% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $70k (2.7% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $4.8m against liabilities of $3.4m, net assets of $1.5m. It reported 80 employees.