Festival Ballet Virginia Inc

Analysis

Festival Ballet Virginia Inc is a registered charity in United States, based in Reston, VA. It received its IRS tax-exemption ruling in June 2021, 5 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 2024, Festival Ballet Virginia Inc reported income of $144k and spending of $133k, spending 92% of its income. Across the 4 years on record, from August 2021 to August 2024, income grew from $4,380 to $144k (+3199%), an average of +221% a year. The sharpest change came in the year to August 2022, when income rose by 1339%. Over the whole period it spent 90% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Festival Ballet Virginia Inc sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 46th percentile, and in the 46th percentile within VA. Charities of a similar size with the same main cause include Sitka Music Festival Foundation ($144k), Battle of Rhode Island Association ($145k) and Berkeley Castle Foundation Inc ($144k).

On its Form 990-EZ for the period ending August 2024, revenue came from contributions and grants 5.9% and program service revenue 94% of the total. At year end it held assets of $77k against liabilities of $0, net assets of $77k.