Ballet Ri

Nonprofit profile at a glance

EIN
050377245
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Providence, RI, USA
Phone
4013531129
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$2,506,401
Expenses
$2,616,369
Assets
$1,221,039
Liabilities
$626,531

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

17 people listed

Highest reported compensation

  • KATHLEEN BREEN COMBES (EXECUTIVE DIR/NONVOTING DI): $127,667 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Our mission is to thrill and move our audiences, dancers, choreographers, supporters and staff with art and discipline. Our vision is to continuously increase in passion and artistic excellence and strength, acheiving national and international recognition as a creative force in dance.

What it reported doing in 2024

`during the 2024-2025 academic year, school of ballet ri continued offering high quality and in-depth experiences in the art form of ballet. The school continued offering its professional trainee program, ensuring professional development opportunities both artistically, pedagogically, and in arts management practices. Students of the school had the opportunity to participate in competition ensemble, nextgen choreographic workshop, and the culmination year-end performance. The school's transformational providance program, which commenced in october 2021, continued to offer programming to multiple schools in ri. The program was a great success, offering out-of-school time learning across six public schools, with additional weekly classes held at ballet ri studios. These advancing students were provided with transportation, tuition support, snacks, and supplies and materials necessary to continue their dance education.

Operating model

Revenue model
Earned-program. 74% of the money available for current operations came from fees and other program revenue.
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: 72
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82%; rating input score 82
  • Program expense ratio: 75.9%; rating input score 76
  • Fundraising efficiency: $4.37 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.4%; rating input score 21; 21st percentile among comparable filings
  • Total-asset coverage ratio: 0.47; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.51; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 4.9%; rating input score 54; 54th percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 35th percentile among comparable filings
  • Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 7.7% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 82% of revenue deployed · 75.9% of spending went to programs
  • Governance: 16 of 16 board members independent · 5 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $128K · 17 people listed
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 21/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Review — Sustainability: Officer compensation ratio scored 54/100.