Wichita Falls Ballet Theater Inc

Analysis

Wichita Falls Ballet Theater Inc is a registered charity in United States, based in Wichita Falls, TX. It received its IRS tax-exemption ruling in June 1966, 60 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, Wichita Falls Ballet Theater Inc reported income of $370k and spending of $456k, spending 123% of what it took in. Across the 4 years on record, from July 2020 to July 2023, income grew from $318k to $370k (+17%), an average of +5.3% a year. The sharpest change came in the year to July 2022, when income rose by 32%. Over the whole period it spent 115% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wichita Falls Ballet Theater Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include The Blue Ridge Mountains Arts Association Inc ($370k), Dawn Mountain ($370k) and Mje Broadcasting Inc ($370k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 60% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $50k (11% of expenses). At year end it held assets of $216k against liabilities of $202k, net assets of $14k. It reported 1 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.