Ballet Palm Beach Inc

Analysis

Ballet Palm Beach Inc is a registered charity in United States, based in Palm BCH GDNS, FL. It received its IRS tax-exemption ruling in March 2004, 22 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 2024, Ballet Palm Beach Inc reported income of $1.0m and spending of $1.1m, spending 105% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $594k to $1.0m (+69%), an average of +11% a year. The sharpest change came in the year to June 2022, when income rose by 353%. 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, Ballet Palm Beach Inc 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 81st percentile within FL. Charities of a similar size with the same main cause include Elevator Repair Service Theater Inc ($1.0m), Historic St Lukes Restoration ($1.0m) and The Sarasota Cuban Ballet School Inc ($1.0m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 41% and program service revenue 59% of the total. At year end it held assets of $13k against liabilities of $112k, net assets of -$99k.

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.