New Ballet Ensemble

Analysis

New Ballet Ensemble is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in May 2004, 22 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 July 2023, New Ballet Ensemble reported income of $1.5m and spending of $1.6m, spending 106% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $1.6m to $1.5m (-1.2%), an average of -0.3% a year. The sharpest change came in the year to July 2022, when income dropped by 15%. 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, New Ballet Ensemble sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within TN. Charities of a similar size with the same main cause include Massachusetts Fallen Heroes Inc ($1.5m), Latino Legislative Caucus Foundation ($1.5m) and Totem Pole Playhouse ($1.5m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 71% and program service revenue 29% of the total. Compensation of current officers, directors and key employees was $90k (5.5% of expenses). Other salaries and wages came to $935k. At year end it held assets of $2.7m against liabilities of $345k, net assets of $2.4m. It reported 33 employees.