Academy of Ballet Arts Inc

Analysis

Academy of Ballet Arts Inc is a registered charity in United States, based in St Petersburg, FL. It received its IRS tax-exemption ruling in December 2001, 25 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 December 2023, Academy of Ballet Arts Inc reported income of $268k and spending of $219k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $174k to $268k (+54%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 25%. 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, Academy of Ballet Arts Inc sits at the 66th 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 63rd percentile within FL. Charities of a similar size with the same main cause include Voice for Christ Ministries Incorporated ($268k), Art Active Inc ($268k) and Indigenous Cultures Institute ($268k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $66k (30% of expenses). At year end it held assets of $178k against liabilities of $1,463, net assets of $176k.