Hickory Ballet & Performing Arts

Analysis

Hickory Ballet & Performing Arts is a registered charity in United States, based in Hickory, NC. It received its IRS tax-exemption ruling in April 2019, 7 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, Hickory Ballet & Performing Arts reported income of $279k and spending of $225k, spending 81% of its income. Across the 2 years on record, from July 2022 to July 2023, income grew from $222k to $279k (+25%), an average of +25% a year. The sharpest change came in the year to July 2023, when income rose by 25%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hickory Ballet & Performing Arts sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 59th percentile within NC. Charities of a similar size with the same main cause include Arts in Health Ocala Metro Inc ($279k), Media Projects Inc ($279k) and R a C E Dance Company ($279k).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $57k (25% of expenses). Other salaries and wages came to $54k. At year end it held assets of $218k against liabilities of $116k, net assets of $102k. It reported 17 employees.