Ballet Memphis Corporation

Analysis

Ballet Memphis Corporation is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in February 1979, 47 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, Ballet Memphis Corporation reported income of $2.7m and spending of $4.4m, spending 167% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $3.7m to $2.7m (-28%), an average of -7.8% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 129% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ballet Memphis Corporation sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 89th percentile within TN. Charities of a similar size with the same main cause include National Comedy Center Inc ($2.7m), Cave Organization Inc ($2.7m) and Lyme Academy of Fine Arts Inc ($2.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 47% of the total. Compensation of current officers, directors and key employees was $335k (7.5% of expenses). Other salaries and wages came to $1.6m. At year end it held assets of $34.0m against liabilities of $570k, net assets of $33.5m. It reported 55 employees.