Ballet Memphis Corporation
Nonprofit profile at a glance
- EIN
- 621018942
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Memphis, TN, USA
- Phone
- 9017377322
- Rating
- 76
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Culture, and Humanities
Reported finances
- Revenue
- $3,042,475
- Expenses
- $4,648,956
- Assets
- $33,419,157
- Liabilities
- $589,336
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
15 people listed
Executive titles in this filing
- GRETCHEN WOLLERT MCLENNON (PRESIDENT & CEO)
Highest reported compensation
- GRETCHEN WOLLERT MCLENNON (PRESIDENT & CEO): $202,412 total reported compensation
- CAROL G MIRAGLIA (CHIEF ADMINISTRATIVE OFFIC): $136,018 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o
What it reported doing in 2024
The ballet memphis pilates + wellness program offers mat and equipment classes at two locations. Ballet memphis is a licensed stott training and certification center and has certified many of our own dancers as instructors. Pilates instruction helps to supplement income for dancers and offer an alternative career path, as well as offers excellent training to keep dancers in prime physical condition and reduce the risk of injury. Clients of all physical abilities from across the region use the pilates center to maintain physical health, recover from injury, increase balance and core strength, and improve athletic performance. Additionally, ballet memphis offers adult classes in ballet and tap for fun and fitness. The pilates + wellness program served over 11,000 client visits in fy2025.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 74
- Accountability: 86
- Sustainability: 41
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 74.8%; rating input score 75
- Fundraising efficiency: $8.53 raised per $1 spent on fundraising; rating input score 32; 32nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -52.8%; rating input score 2; 2nd percentile among comparable filings
- Total-asset coverage ratio: 7.19; rating input score 88; 88th percentile among comparable filings
- Liabilities to assets ratio: 0.02; rating input score 82; 82nd percentile among comparable filings
- Officer compensation ratio: 7.3%; rating input score 40; 40th percentile among comparable filings
Growth
- Program expense growth: -0% per year; rating input score 0; 14th percentile among comparable filings
- Revenue growth: -3.2% per year; rating input score 0; 5th percentile among comparable filings
- Asset growth: 8.3% per year; rating input score 100; 51st percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 74.8% of spending went to programs
- Governance: 13 of 13 board members independent · 6 of 9 filing controls reported
- Programs: 3 filed program accomplishments · $3.5M in reported program spending
- Leadership: top reported pay $202K · 15 people listed · 2 of 6 pay-setting controls reported
- Consistency: 31 of 31 current checks pass
- Schedules: 6 filed schedules · includes major donors and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 2 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 32/100.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Sustainability: Operating margin scored 2/100.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Moderate — Sustainability: Officer compensation ratio scored 40/100.