Ballet Magnificat

Analysis

Ballet Magnificat is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in January 1987, 39 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 December 2023, Ballet Magnificat reported income of $1.9m and spending of $2.1m, spending 109% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.8m to $1.9m (+5.8%), an average of +1.4% a year. The sharpest change came in the year to December 2021, when income rose by 73%. Over the whole period it spent 89% 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 Magnificat sits at the 91st percentile: it is larger than about 91% 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 Maroon Arts Group ($1.9m), Delaware and Lehigh National Heritage Corridor Inc ($1.9m) and Fiji Theater Company Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 79% of the total. Compensation of current officers, directors and key employees was $165k (7.8% of expenses). Other salaries and wages came to $630k. At year end it held assets of $1.9m against liabilities of $9,739, net assets of $1.9m. It reported 45 employees.