Lexington Ballet Company Inc
- Assets
- $122.4k
- Revenue
- $274.4k
- Investments
- $0.0
- Employees
- 13
- Location
- Lexington, KY
- Founding
- 08/1975
- Data as of
- 06/2021
- EIN
- 51-0161971
Organization Overview
Lexington Ballet Company Inc is located in Lexington, KY. The organization was established in 1975. 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, Lexington Ballet Company Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lexington Ballet Company Inc 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, Lexington Ballet Company Inc generated $274.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $296.6k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER AN APPRECIATION FOR BALLET AS AN ART FORM THROUGH BOTH REGIONAL PERFORMANCES AND INSTRUCTIONAL CLASSES FOR AGES 3 AND ABOVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC PERFORMANCES (LOCAL & TOURING) WHICH PROMOTE AND INFORM COMMUNITIES ABOUT BALLET, THE COMPANY, AND THE SCHOOL. INSTRUCTIONAL COURSES IN CLASSICAL BALLET METHOD, SEVERAL HUNDRED STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Luis Dominguez Artistic Director | OfficerTrustee | 40 | $44,548 |
Nancy Dominguez School Director | OfficerTrustee | 40 | $36,457 |
Rene Leaver Chair | OfficerTrustee | 3 | $0 |
Chris Meng Treasurer | OfficerTrustee | 1 | $0 |
David Iorio Grants Sub-Committee Chair | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $51,113 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,127 |
| Noncash contributions included in lines 1a–1f | $32,182 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,240 |
| Total Program Service Revenue | $166,360 |
| Investment income | $834 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $274,434 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $133,193 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,862 |
| Payroll taxes | $10,665 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,622 |
| Office expenses | $3,450 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,067 |
| Travel | $1,282 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,175 |
| Insurance | $10,120 |
| All other expenses | $1,868 |
| Total functional expenses | $296,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $59,758 |
| Savings and temporary cash investments | $44,162 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,883 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,627 |
| Net Land, buildings, and equipment | $5,979 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $122,409 |
| Accounts payable and accrued expenses | $4,269 |
| Grants payable | $0 |
| Deferred revenue | $3,255 |
| 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 | $40,182 |
| Total liabilities | $47,706 |
| Net assets without donor restrictions | $67,223 |
| Net assets with donor restrictions | $7,480 |
| 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 | $122,409 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lexington Ballet Company Inc has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Yale Art Trust New York, NY PURPOSE: GENERAL | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Joffrey Ballet Chicago, IL | $41,269,610 | $12,576,025 |
Kansas City Ballet Association Kansas City, MO | $44,028,561 | $12,814,564 |
Cincinnati Ballet Company Inc Cincinnati, OH | $28,225,838 | $12,007,959 |
Ballet Metropolitan Inc Columbus, OH | $13,150,540 | $7,739,690 |
Nashville Ballet Nashville, TN | $11,017,137 | $5,073,621 |
Richmond Ballet Inc Richmond, VA | $9,343,909 | $5,961,250 |
Ballet Memphis Corporation Memphis, TN | $34,630,248 | $4,251,856 |
Laurie Foundation For The Performing Arts Columbia, MO | $6,459,045 | $968,148 |
Cleveland Ballet Cleveland, OH | $349,870 | $2,048,614 |
Ballet Chicago Company Chicago, IL | $494,898 | $1,522,334 |
Fort Wayne Ballet Inc Fort Wayne, IN | $2,459,907 | $1,784,779 |
Saint Louis Ballet Company Chesterfield, MO | $736,242 | $1,637,573 |