Latin Ballet of Virginia Inc

Analysis

Latin Ballet of Virginia Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in November 2000, 26 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 May 2023, Latin Ballet of Virginia Inc reported income of $276k and spending of $198k, leaving 29% of income unspent that year. Across the 3 years on record, from May 2021 to May 2023, income grew from $164k to $276k (+69%), an average of +30% a year. The sharpest change came in the year to May 2023, when income rose by 76%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Latin Ballet of Virginia Inc sits at the 67th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 60th percentile within VA. Charities of a similar size with the same main cause include Berkana Institute ($276k), Ormao Dance Company ($276k) and Corsicanas Palace Theatre ($276k).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 64% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $14k (7.0% of expenses). Other salaries and wages came to $96k. At year end it held assets of $193k against liabilities of $1,402, net assets of $192k. It reported 17 employees.