Richmond Ballet Inc

Analysis

Richmond Ballet Inc is a registered charity in United States, based in Richmond, VA. It received its IRS tax-exemption ruling in March 1960, 66 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 2024, Richmond Ballet Inc reported income of $8.0m and spending of $7.3m, spending 91% of its income. Across the 6 years on record, from June 2019 to June 2024, income grew from $7.4m to $8.0m (+9.2%), an average of +1.8% a year. The sharpest change came in the year to June 2022, when income rose by 36%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Richmond Ballet Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include California Center for the Arts Escondido Foundation ($8.0m), Indiana State Museum Foundation Inc ($8.0m) and Positive Alternative Radio Inc ($8.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 43% and program service revenue 54% of the total. Compensation of current officers, directors and key employees was $515k (7.0% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $14.1m against liabilities of $2.6m, net assets of $11.4m. It reported 161 employees.