Charlotte Ballet

Analysis

Charlotte Ballet is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in March 1978, 48 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Charlotte Ballet reported income of $11.6m and spending of $11.9m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.3m to $11.6m (+60%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 86%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charlotte Ballet sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Auditorium Theatre of Roosevelt University Inc ($11.6m), Friends of the Music Hall ($11.6m) and B & O Railroad Museum ($11.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 63% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $800k (6.7% of expenses). Other salaries and wages came to $2.7m. At year end it held assets of $23.6m against liabilities of $4.8m, net assets of $18.7m. It reported 122 employees.