Miami City Ballet Inc

Analysis

Miami City Ballet Inc is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in January 1986, 40 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 April 2024, Miami City Ballet Inc reported income of $24.2m and spending of $24.7m, spending 102% of its income. Across the 6 years on record, from April 2019 to April 2024, income grew from $22.7m to $24.2m (+6.8%), an average of +1.3% a year. The sharpest change came in the year to April 2021, when income dropped by 30%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Miami City Ballet Inc sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Bethel Woods Center for the Arts Inc ($24.1m), Experience Learning Community ($24.2m) and Large Binocular Telescope Corporation ($24.1m).

On its Form 990 for the period ending April 2024, revenue came from contributions and grants 61% and program service revenue 39% of the total. Compensation of current officers, directors and key employees was $1.3m (5.3% of expenses). Other salaries and wages came to $9.9m. At year end it held assets of $67.2m against liabilities of $7.5m, net assets of $59.7m. It reported 378 employees.