USA International Ballet Competition

Analysis

USA International Ballet Competition is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in September 1980, 46 years ago. 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 September 2023, USA International Ballet Competition reported income of $2.1m and spending of $2.4m, spending 119% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $781k to $2.1m (+163%), an average of +27% a year. The sharpest change came in the year to September 2023, when income rose by 325%. Over the whole period it spent 103% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, USA International Ballet Competition sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within MS. Charities of a similar size with the same main cause include West Cancer Foundation ($2.1m), Raleigh Swimming Association ($2.1m) and Johnson County Emergency and Rescue Squad Inc ($2.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 23% of the total. Other salaries and wages came to $629k. At year end it held assets of $768k against liabilities of $3,182, net assets of $765k. It reported 8 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.