Galveston Ballet Inc

Analysis

Galveston Ballet Inc is a registered charity in United States, based in Galveston, TX. It received its IRS tax-exemption ruling in June 1998, 28 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 August 2023, Galveston Ballet Inc reported income of $121k and spending of $122k, spending 101% of its income. Across the 2 years on record, from August 2022 to August 2023, income fell from $147k to $121k (-18%), an average of -18% a year. The sharpest change came in the year to August 2023, when income dropped by 18%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Galveston Ballet Inc sits at the 47th percentile: it is larger than about 47% of them. Against every charity in United States with reported income it ranks in the 42nd percentile, and in the 45th percentile within TX. Charities of a similar size with the same main cause include Chestnut Avenue Center for the Arts Inc ($121k), Parker County Fine Arts Association ($121k) and Mohawk Valley Center for the Arts Inc ($121k).

On its Form 990-EZ for the period ending August 2023, revenue came from contributions and grants 20% and program service revenue 73% of the total. At year end it held assets of $16k against liabilities of $7,049, net assets of $8,817.