Overview
What is Ballet Lubbock?
Ballet Lubbock is a pre-professional dance school situated in Lubbock, Texas, at 1300 MAC DAVIS LANE 1. As a dedicated nonprofit, their mission is to enrich the community by providing top-notch dance training, captivating performances, and outreach programs. Their commitment extends to offering dance education to the public at affordable tuition rates, with scholarships and financial support available. Additionally, they present ballet performances at reasonable admission prices to engage a wide range of society. The organization's primary objective is to positively impact lives through dance, nurturing talent and promoting cultural appreciation. With a team of 54 employees, Ballet Lubbock strives to make dance accessible and enjoyable for all.
Official website here: www.balletlubbock.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
Ballet Lubbock has received a commendable Four-Star rating from Charity Navigator, reflecting high accountability and financial health. The organization excels in maintaining an independent board, with all 20 members being independent, and it demonstrates strong oversight with an audit committee. Its commitment to transparency is further supported by comprehensive policies regarding conflicts of interest, whistleblowing, and document retention.
The financial metrics highlight Ballet Lubbock's effectiveness in directing funds towards its programs, with a program expense ratio of 83.26%, indicating that a significant portion of its budget is allocated to its mission. The fundraising efficiency also showcases strong performance, with only $0.08 spent to raise each dollar, which is favorable compared to many nonprofits. Additionally, the organization enjoys a robust working capital position, ensuring long-term sustainability.
One area for improvement noted in the data is the liabilities to assets ratio, which stands at 41.05%. While this is not an alarming figure, it indicates that there may be room for better management of liabilities relative to its total assets. Overall, Ballet Lubbock demonstrates strong organizational practices and effective financial management, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Ballet Lubbock legitimate?
Ballet Lubbock is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ballet Lubbock 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: $119,205
Professional Fundraising Fees: $0
Other Salaries and Wages: $590,078
For more financial information, click here
Official website here: www.balletlubbock.org
What is the mission statement of Ballet Lubbock?
Ballet Lubbock, acting as a pre-professional dance school, aims to transform lives within the community. They accomplish this by providing top-notch dance education, engaging performances, and outreach programs. The dance training offered is of high caliber and is accessible to the community at reasonable tuition rates, with scholarship and tuition assistance options available. The organization also presents imaginative and captivating ballet performances at affordable or even free admission rates, aiming to involve a diverse segment of society.
Official website here: www.balletlubbock.org
Who is the CEO of Ballet Lubbock?
Nicholas Dragga is the President of Ballet Lubbock.
Official website here: www.balletlubbock.org
What is the revenue of Ballet Lubbock?
Ballet Lubbock's revenue in 2022 was $3,096,475.
Official website here: www.balletlubbock.org
Who are the executives of Ballet Lubbock and what are their salaries?
The average compensation at Ballet Lubbock during 2022 was $13,135. There are 54 employees and 234 volunteers at Ballet Lubbock.
Here are 19 key members and their salaries:
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- Compensation: $112,409
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- Other: $6,796
Official website here: www.balletlubbock.org
Where can I find the form 990 for Ballet Lubbock?
Ballet Lubbock's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.balletlubbock.org
Learn more at the official website: www.balletlubbock.org
Mission Statement of Ballet Lubbock
Ballet Lubbock, a pre-professional dance school, is committed to transforming lives within the community. Its mission is twofold. Firstly, it provides top-notch ballet instruction to its members at affordable tuition rates, often offering scholarships and financial aid to ensure accessibility. Secondly, Ballet Lubbock engages the community through captivating and imaginative ballet performances, offering admission at reasonable or even free rates to cater to various socio-economic backgrounds. By doing so, Ballet Lubbock seeks to bring the beauty of classical ballet to all corners of society.
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Impact
July, 2024
Ballet Lubbock's impact can be seen in the transformation of individuals' lives through premier dance training, performances, and outreach programs. By offering high-caliber classical ballet instruction at accessible tuition rates, including scholarships and tuition support, Ballet Lubbock makes the world of dance accessible to members of the community who may not have had the opportunity otherwise. Additionally, their inspiring and engaging ballet performances, offered at affordable and sometimes free admission rates, help engage all pockets of society and bring the beauty of the art form to a wider audience. Through these efforts, Ballet Lubbock is not only nurturing young talent but also enriching the cultural fabric of the Lubbock community.
This information is meant to be a general summary of Ballet Lubbock. 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 2022.
- Investment Income: $538,549
- Program Service Revenue: $1,227,944
- Gross Receipts: $6,645,662
Assets and Liabilities:
- Total Assets: $11,243,607
- Total Liabilities: $4,933,144
- Net Assets: $6,310,463
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PERFORMANCE INCOME
Revenue
$830,643
TUITION INCOME
Revenue
$383,951
PROGRAM ADVERTISING
Revenue
$13,350
Organization Details
Founding Year
1969
Phone
(806) 785-3090Principal Officer
Nicholas Dragga
Main Address
1300 MAC DAVIS LANE 1, LUBBOCK, TX, 79401
Website
www.balletlubbock.orgNTEE Category
Code: A63Z - Arts
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