Midland Festival Ballet

Analysis

Midland Festival Ballet is a registered charity in United States, based in Midland, TX. It received its IRS tax-exemption ruling in October 1995, 31 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 June 2023, Midland Festival Ballet reported income of $997k and spending of $1.0m, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $646k to $997k (+54%), an average of +12% a year. The sharpest change came in the year to June 2022, when income rose by 70%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Midland Festival Ballet sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 83rd percentile within TX. Charities of a similar size with the same main cause include Amas Musical Theatre Inc ($997k), The National Quilt Museum Inc ($997k) and Diavolo Dance Theatre ($997k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $79k (7.6% of expenses). Other salaries and wages came to $209k. At year end it held assets of $173k against liabilities of $25k, net assets of $148k. It reported 11 employees.