Fort Wayne Ballet Inc

Nonprofit profile at a glance

EIN
356006394
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Fort Wayne, IN, USA
Phone
2604849646
Rating
90
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$1,677,125
Expenses
$1,693,697
Assets
$2,683,438
Liabilities
$353,282

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

Leadership & pay

20 people listed

Executive titles in this filing

  • DR JUDY ZACHER (PRESIDENT)

Highest reported compensation

  • KAREN GIBBONS-BROWN (ARTISTIC DIR): $93,029 total reported compensation
  • JIM SPARROW (EXECUTIVE DI): $88,834 total reported compensation

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

Overview

Mission

To feed the spirit and spark the imagination through the highest caliber professional and academy performances, dance training, and community engagement.

What it reported doing in 2024

Fort wayne ballet's professional company consists of twenty four dancers representing the united states, japan, mexico and uzbekistan and is supplemented by six trainee dancers. The season includes three main stage performances from classic masterworks to contemporary premiers, three contemporary repertoire performances, and an intimate in studio series where patrons are immersed into the programming. The organization is committed to being actively involved in collaborative programming with other arts organizations. Community engagement and service is a significant part of the ballet's mission and includes sensory friendly productions of its main stage performances, training residencies in the region's school systems, performances in community festivals and performances outside the region. The ballet has performed its nutcracker outside of the region and has represented the fort wayne community internationally.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 74.7%; rating input score 75
  • Fundraising efficiency: $38.55 raised per $1 spent on fundraising; rating input score 73; 73rd 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 1.58; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 10.7%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 6% per year; rating input score 100; 49th percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 74.7% of spending went to programs
  • Governance: 18 of 18 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $93K · 20 people listed
  • Consistency: 35 of 35 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 8 filing years from 2016 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.

Key Signals

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

  • Moderate — Sustainability: Operating margin scored 33/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.