Overview
What is Mankato Ballet Company?
The Mankato Ballet Company is a vibrant nonprofit organization based within the community of Mankato. Their primary mission is to champion the art of ballet, offering comprehensive training and instruction to around 185 students. This dedicated institution serves to foster an appreciation for ballet by presenting the public with three captivating performances annually, thereby allowing individuals to immerse themselves in the enchanting world of dance.
Official website here: www.mankatoballet.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
The Mankato Ballet Company has received a "Needs Improvement" rating due to an overall score of 69%, which reflects both strengths and significant areas for growth. The organization demonstrates a strong commitment to governance with 100% independent board members, which is commendable. Additionally, the company has a solid program expense ratio of 78.43%, indicating that a large portion of its funds is directed toward its mission-related activities.
However, there are notable weaknesses in the organization's accountability and finance practices. The absence of critical policies, such as a conflict of interest policy and a whistleblower policy, raises concerns about transparency and governance. Furthermore, the lack of financial statements posted on their website and missing documentation regarding board meeting minutes highlight areas that need immediate attention to improve overall accountability.
While the Mankato Ballet Company's financial health appears stable, as evidenced by a low liabilities to assets ratio of 2.36%, the need to improve on governance practices and transparency is critical for future growth and community trust. Addressing these limitations could enhance the organization’s credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Mankato Ballet Company legitimate?
Mankato Ballet Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mankato Ballet Company submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $275,380
For more financial information, click here
Official website here: www.mankatoballet.org
What is the mission statement of Mankato Ballet Company?
The Mankato Ballet Company serves to foster an appreciation for ballet within its community. By offering training and instruction to around 185 students, the company plays a significant role in nurturing talent in the art form. The organization also strives to share the captivating essence of ballet with a broader audience through three annual public performances. By doing so, it contributes to the enrichment of the community's cultural landscape.
Official website here: www.mankatoballet.org
Who is the CEO of Mankato Ballet Company?
Sandra Asker is the President of Mankato Ballet Company.
Official website here: www.mankatoballet.org
What is the revenue of Mankato Ballet Company?
Mankato Ballet Company's revenue in 2023 was $551,430.
Official website here: www.mankatoballet.org
Who are the executives of Mankato Ballet Company and what are their salaries?
The average compensation at Mankato Ballet Company during 2023 was $9,835. There are 28 employees and 125 volunteers at Mankato Ballet Company.
Here are 7 key members and their salaries:
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Official website here: www.mankatoballet.org
Where can I find the form 990 for Mankato Ballet Company?
Mankato Ballet Company's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mankatoballet.org
Learn more at the official website: www.mankatoballet.org
Mission Statement of Mankato Ballet Company
The Mankato Ballet Company, as a mission-driven organization, strives to promote the art of ballet within its community. By offering comprehensive training and instruction to around 185 students, the company nurtures a passion for this elegant dance form. Moreover, Mankato Ballet Company plays a significant role in cultivating public interest in ballet, hosting three annual public performances. These events serve as an immersive experience, allowing audiences to appreciate the grace and skill of ballet firsthand. Through its dedication to education and performance, the Mankato Ballet Company contributes to preserving and propagating the timeless beauty of ballet within its community.
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Impact
July, 2024
The Mankato Ballet Company plays a vital role in promoting the art of ballet within the Mankato community. Through its dedicated efforts, the company provides training and instruction to approximately 185 students, nurturing a love for ballet and fostering a new generation of dancers. By offering three public performances each year, the Mankato Ballet Company not only showcases the beauty of ballet but also contributes to the cultural enrichment of the community. Its impact is felt not only through its artistic presentations but also through the educational opportunities it provides to aspiring dancers and the broader community.
This information is meant to be a general summary of Mankato Ballet Company. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $1,663
- Program Service Revenue: $476,075
- Gross Receipts: $589,946
Assets and Liabilities:
- Total Assets: $541,233
- Total Liabilities: $12,813
- Net Assets: $528,420
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION
Revenue
$385,652
BALLET PERFORMANCES
Revenue
$90,423
Organization Details
Founding Year
1987
Principal Officer
Sandra Asker
Main Address
1650 TULLAMORE ST 200, MANKATO, MN, 56001
Website
www.mankatoballet.orgNTEE Category
Code: A63 - Arts
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