Maryland Youth Ballet Inc
- Assets
- $4.8m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 80
- Location
- Silver Spring, MD
- Founding
- 07/1973
- Data as of
- 08/2023
- EIN
- 52-0943959
Organization Overview
Maryland Youth Ballet Inc is located in Silver Spring, MD. The organization was established in 1973. 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 08/2023, Maryland Youth Ballet Inc employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maryland Youth Ballet 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 08/2023, Maryland Youth Ballet Inc generated $3.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $2.6m during the year ending 08/2023. While expenses have increased by 2.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE HIGHEST CALIBER OF TRAINING AND PERFORMANCE OPPORTUNITIES TO PREPARE YOUNG DANCERS FOR A CAREER IN THE PERFORMING ARTS AS WELL AS TO PROVIDE CLASSES TO DANCERS OF ALL AGES AND LEVELS IN THE COMMUNITY.
Describe the Organization's Program Activity:
OUR PROGRAM TRAINED DANCERS AND PRESENTED THEM IN PERFORMANCES AS PART OF THEIR TRAINING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A Jenkins Executive Director | OfficerTrustee | 40 | $48,750 |
R Broadbent Board Member | Trustee | 0.5 | $0 |
J Higgins Board Member | Trustee | 1 | $0 |
S Kagen Board Member | Trustee | 1 | $0 |
E Lilley Board Member | Trustee | 2 | $0 |
J Mccarthy Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $160,117 |
| Related organizations | $0 |
| Government grants | $1,132,172 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,323,789 |
| Total Program Service Revenue | $1,823,765 |
| Investment income | $94 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,029 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $19,548 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $12,074 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,186,551 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $65,970 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $70,000 |
| Compensation of current officers, directors, key employees. | $17,587 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,411,356 |
| Pension plan accruals and contributions | $24,228 |
| Other employee benefits | $0 |
| Payroll taxes | $117,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $175 |
| Fees for services: Accounting | $31,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $117,821 |
| Advertising and promotion | $9,890 |
| Office expenses | $37,265 |
| Information technology | $50,544 |
| Royalties | $0 |
| Occupancy | $305,166 |
| Travel | $0 |
| 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 | $12,129 |
| Insurance | $15,782 |
| All other expenses | $48,009 |
| Total functional expenses | $2,585,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,255,321 |
| Savings and temporary cash investments | $94,404 |
| Pledges and grants receivable | $213,359 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,875 |
| Prepaid expenses and deferred charges | $12,081 |
| Net Land, buildings, and equipment | $37,182 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,216,679 |
| Total assets | $4,831,901 |
| Accounts payable and accrued expenses | $16,383 |
| Grants payable | $0 |
| Deferred revenue | $736,959 |
| 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 | $2,613,600 |
| Total liabilities | $3,366,942 |
| Net assets without donor restrictions | $1,042,760 |
| Net assets with donor restrictions | $422,199 |
| 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 | $4,831,901 |