Ballet Lubbock
- Assets
- $11.6m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 37
- Location
- Lubbock, TX
- Founding
- 03/1976
- Data as of
- 06/2021
- EIN
- 51-0163294
Organization Overview
Ballet Lubbock is located in Lubbock, TX. The organization was established in 1976. According to its NTEE Classification (A63) the organization is classified as: Ballet, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Ballet Lubbock employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ballet Lubbock is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Ballet Lubbock generated $2.8m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.3% each year . All expenses for the organization totaled $1.5m during the year ending 06/2021. While expenses have increased by 5.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF BALLET LUBBOCK IS TO CHANGE LIVES. AS A PRE-PROFESSIONAL DANCE SCHOOL, WE ENHANCE OUR COMMUNITY THROUGH PREMIER DANCE TRAINING, PERFORMANCES, AND OUTREACH.
Describe the Organization's Program Activity:
HIGH CALIBER AND ENGAGING CLASSICAL BALLET INSTRUCTION TO MEMBERS OF THE COMMUNITY AT ACCESSIBLE TUITION RATES WITH SCHOLARSHIP AND TUITION SUPPORT.INSPIRING, IMAGINATIVE, AND ENAGING PERFOMANCE OF BALLET AT AFFORDABLE AND FREE ADMISSION RATES IN ORDER TO ENGAGE ALL POCKETS OF OUR SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicholas Dragga Executive Director | Officer | 50 | $119,159 |
Yvonne Kay Artistic Director | 40 | $100,200 | |
Nathaniel Wright President | OfficerTrustee | 1 | $0 |
Diane St Clair Vice President | OfficerTrustee | 1 | $0 |
John Salter Treasurer | OfficerTrustee | 1 | $0 |
Kathleen Burrell Past President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $93,966 |
| Related organizations | $0 |
| Government grants | $221,518 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,929,849 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,245,333 |
| Total Program Service Revenue | $379,544 |
| Investment income | $4,102 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,840 |
| Net Gain/Loss on Asset Sales | $35,787 |
| Net Income from Fundraising Events | -$7,405 |
| Net Income from Gaming Activities | $132,600 |
| Net Income from Sales of Inventory | $1,577 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,793,378 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $119,159 |
| Compensation of current officers, directors, key employees. | $9,533 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $441,608 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,620 |
| Payroll taxes | $40,751 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,857 |
| Fees for services: Other | $15,802 |
| Advertising and promotion | $31,697 |
| Office expenses | $9,887 |
| Information technology | $12,282 |
| Royalties | $0 |
| Occupancy | $102,556 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,026 |
| Interest | $154,754 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $169,509 |
| Insurance | $25,105 |
| All other expenses | $19,552 |
| Total functional expenses | $1,482,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $599,580 |
| Savings and temporary cash investments | $563,578 |
| Pledges and grants receivable | $133,178 |
| Accounts receivable, net | $80,205 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $17,338 |
| Prepaid expenses and deferred charges | $10,009 |
| Net Land, buildings, and equipment | $10,155,465 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $50,000 |
| Total assets | $11,609,353 |
| Accounts payable and accrued expenses | $85,116 |
| Grants payable | $0 |
| Deferred revenue | $48,023 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,843,510 |
| Total liabilities | $5,976,649 |
| Net assets without donor restrictions | $5,466,155 |
| Net assets with donor restrictions | $166,549 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,609,353 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Ballet Lubbock has recieved totaling $267,575.
| Awarding Organization | Amount |
|---|---|
Welborn-Payne Endowment Trust Lubbock, TX PURPOSE: TO SUPPORT PRE-PROFESSIONAL DANCE EDUCATION AND PERFORMANCES | $85,000 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR NUTCRACKER | $51,000 |
Community Foundation Of West Texas Lubbock, TX PURPOSE: NUTCRACKER, DROPS AND SETS | $30,000 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR SCHOLARSHIPS | $25,000 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR INSTRUCTORS | $20,000 |
Ch Foundation Lubbock, TX PURPOSE: SUPPORT FOR CINDERELLA | $20,000 |
Endowment Analysis
| Beg. Balance | $199,239 |
| Earnings | $43,696 |
| Ending Balance | $242,935 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ballet Austin Incorporated Austin, TX | $16,567,497 | $9,559,928 |
Texas Ballet Theater Inc Fort Worth, TX | $14,755,979 | $10,675,442 |
Tulsa Ballet Theater Inc Tulsa, OK | $22,400,601 | $8,502,170 |
Ballet Oklahoma Inc Oklahoma City, OK | $9,840,405 | $3,365,985 |
Ballet Lubbock Lubbock, TX | $11,609,353 | $2,793,378 |
Lone Star Ballet Inc Amarillo, TX | $2,855,420 | $1,229,506 |
Ballet San Antonio San Antonio, TX | $323,558 | $962,217 |
Baton Rouge Ballet Theatre Inc Baton Rouge, LA | $649,892 | $706,281 |
Ballet Arkansas Little Rock, AR | $727,300 | $993,614 |
Chamberlain Ballet Plano, TX | $165,106 | $597,554 |
Midland Festival Ballet Midland, TX | $220,082 | $529,242 |
San Angelo Civic Ballet Incorporated San Angelo, TX | $503,526 | $543,364 |