Ballet Florida INC

West Palm Beach, FL · Unknown exempt organization

✕ IRS exemption revoked Latest data FY2021
Revenue
$345K
▲ +226% vs prior year
Spent
$219K
To programs
62%
Net assets
$2.6M
IRS revoked this organization's tax-exempt status on May 15, 2024

Form 990 for the fiscal year ending December 2021 (IRS tax year 2021).

Status and standing

Tax-deductible?
No — IRS exemption revoked
On the IRS revocation list.
Can I give now?
No — exemption revoked (2024-05-15)
On the IRS revocation list.
Filing up to date?
No filing since FY2021 — 5 yrs
Foundation funders?
Not on file
Spent on programs?
62% to programs
Form 990 Part IX, latest filing.
Size and trend
$100K–1M
↑ +226% vs prior year
Legal name (IRS)Hdr · item CBallet Florida INC
EINHdr · item D38-3941176
Exempt statusHdr · item IRevoked
Latest filingForm 990FY2021 · Form 990
Principal addressHdr · item CWest Palm Beach, FL
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.balletflorida.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.62 Management & general $0.37 Fundraising $0.00
Program services62%$136K
Management & general37%$81K
Fundraising$771
Total functional expensesLn 25$219K

Financial health

Revenue & expenses by yearFY2019–FY2021
Revenue
$345K
FY2021▲ +226%
Expenses
$219K
FY2021▼ -4%
Surplus margin
+37%
revenue over expenses, this year▲ +132% vs prior filing year
Program spending
62%
of expenses reach programs▼ -12% vs prior filing year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$5.3M
FY2021▲ +100%
Total liabilities
$2.6M
FY2021▲ ×21
Revenue less expensesPt I · Ln 19$126K
Total assetsPt X · Ln 16$5.3M
Program-expense ratioPt IX · col B62%
Voting members of governing bodyPt I · Ln 32
Independent voting membersPt I · Ln 42

Balance Sheet

Part X · end of year
CashLn 1$82K
Total assetsLn 16$5.3M
Total liabilitiesLn 26$2.6M
Total net assetsLn 32$2.6M
Months of cash on handcomputed4.5

Statement of Revenue

Part VIII
Investment income$267K · 77%
Program service revenue$78K · 23%
Investment income77%$267K
Program service revenue23%$78K
Total revenueLn 12$345K

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $628K · Operating expenses/yr $219K
34.4 months
Where the money goes
Program services
Program services $136K · Total expenses $219K
62%
Management & General
Management & general $81K · Total expenses $219K
37%
Fundraising
Fundraising $771 · Total expenses $219K
0.4%
Cost to raise $1
Fundraising expense (3-yr avg) $776 · Solicited contributions (3-yr avg) $3K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $0 · Total revenue $345K
0%
Government reliance
Government grants — · Total revenue $345K
—
Earned-income share
Program service revenue $78K · Total revenue $345K
23%
Investment reliance
Investment income $267K · Total revenue $345K
+77%
Program self-sufficiency
Program service revenue $78K · Total expenses $219K
36%
Growth & trend
Revenue growth (YoY)
This year $345K · Prior year $106K
+226%
Net-asset trend (YoY)
End of year $2.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $345K · Expenses $219K
+37%
Liabilities-to-Assets
Total liabilities — · Total assets $5.3M
—
Net-asset ratio
Net assets $2.6M · Total assets $5.3M
50%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $546K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.3M
10%
People & payroll
Highest Reported Total Compensation
Individual Lauren Carey · Reported title PRESIDENT · Highest reported compensation $23K · Total expenses $219K
11%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $219K
—
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 62%——
Overhead ratio 37%——
Revenue growth 226%——
Investment management fee ratio 0.1%——
Accounting fee ratio 0.3%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$23,000Pt VII · Sec A
Vice Preside
$18,550Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2021FY2020FY2019
Lauren Carey$23,000$16,800$45,600
Guy Palmer——$36,000
Lyndsey Carey$18,550$15,200—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a2
Independent voting membersPt VI · Ln 1b2
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Promotes dance creation, education, and preservation through performances and programs.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $136K of program spending, described in the organization's own filed words · FY2021.
01

Ballet dance program with instruction

$136Kprogram expense

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Filing history

YearRevenueExpensesChangeFiling
FY2021 Latest Viewing $345K$219K+226% 990 PDF
FY2020 $106K$229K+46% 990 PDF
FY2019 $73K$375K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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