Lone Star Ballet Inc

Analysis

Lone Star Ballet Inc is a registered charity in United States, based in Amarillo, TX. It received its IRS tax-exemption ruling in January 1978, 48 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 May 2023, Lone Star Ballet Inc reported income of $1.3m and spending of $1.4m, spending 114% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $1.4m to $1.3m (-11%), an average of -2.9% a year. The sharpest change came in the year to May 2022, when income rose by 83%. Over the whole period it spent 110% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Lone Star Ballet Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 86th percentile within TX. Charities of a similar size with the same main cause include The Open Link Inc ($1.3m), Sheldon Community Day Care Center Nursery School Inc ($1.3m) and SCM Community Transportation Inc ($1.3m).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 20% and program service revenue 64% of the total. Compensation of current officers, directors and key employees was $98k (6.8% of expenses). Other salaries and wages came to $498k. At year end it held assets of $2.6m against liabilities of $398k, net assets of $2.2m. It reported 10 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.