Civic Intelligence

The Richmond Ballet

EIN 54-6049848 • 501(c)3 • Richmond, VA

Profile

Through all of its programs, richmond ballet strives to expand access to dance for the benefit of the entire community. At the heart of the organization's mission, to awaken, uplift, and unite human spirits, is the conviction that the appetite and need for arts experiences is both universal and eternal. Engagement with the arts creates shared experiences that unite people of diverse backgrounds. Richmond ballet is committed to identifyingand carving pathways throughbarriers in access to these experiences for all members of the community.

407 E Canal StreetRichmond, VA 23219

www.richmondballet.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

52nd percentile

0.19x

Higher debt load relative to assets than 52% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Liabilities / Revenue

63rd percentile

0.37x

Higher debt load relative to revenue than 63% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Net Margin

31st percentile

-1.8%

Higher net margin than 31% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Top Officer Pay

33rd percentile

$138,286

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

501(c)3 • $10M-$25M nonprofits • Source year 2025

Asset Growth

51st percentile

4.6%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Revenue Growth

25th percentile

-4.7%

Faster revenue growth than 25% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2024 to 2025

Assets

Up

$14,711,015

Up $644,749 (+4.6%) from 2024

Liabilities

Up

$2,866,436

Up $220,311 (+8.3%) from 2024

Net Assets

Up

$11,844,579

Up $424,438 (+3.7%) from 2024

Revenue

Down

$7,653,625

Down $374,040 (-4.7%) from 2024

Expenses

Up

$7,788,367

Up $446,948 (+6.1%) from 2024

Net Income

Down

-$134,742

Down $820,988 (-120%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$15M$10M$5.0M$0Assets 2011: $6,119,648Liabilities 2011: $443,057Net Assets 2011: $5,676,5912011Assets 2012: $6,078,145Liabilities 2012: $573,405Net Assets 2012: $5,504,7402012Assets 2013: $6,002,059Liabilities 2013: $560,739Net Assets 2013: $5,441,3202013Assets 2014: $5,927,742Liabilities 2014: $584,314Net Assets 2014: $5,343,4282014Assets 2015: $8,304,660Liabilities 2015: $685,250Net Assets 2015: $7,619,4102015Assets 2016: $8,833,994Liabilities 2016: $649,485Net Assets 2016: $8,184,5092016Assets 2017: $9,229,544Liabilities 2017: $714,889Net Assets 2017: $8,514,6552017Assets 2018: $9,988,857Liabilities 2018: $815,804Net Assets 2018: $9,173,0532018Assets 2019: $10,726,170Liabilities 2019: $646,534Net Assets 2019: $10,079,6362019Assets 2020: $12,138,649Liabilities 2020: $1,072,416Net Assets 2020: $11,066,2332020Assets 2021: $9,343,909Liabilities 2021: $1,172,748Net Assets 2021: $8,171,1612021Assets 2022: $10,091,737Liabilities 2022: $577,579Net Assets 2022: $9,514,1582022Assets 2023: $10,853,342Liabilities 2023: $667,498Net Assets 2023: $10,185,8442023Assets 2024: $14,066,266Liabilities 2024: $2,646,125Net Assets 2024: $11,420,1412024Assets 2025: $14,711,015Liabilities 2025: $2,866,436Net Assets 2025: $11,844,5792025

Highlighted filing

2025

Assets$14,711,015
Liabilities$2,866,436
Net Assets$11,844,579

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $4,496,167Expenses 2011: $4,875,967Net Income 2011: -$379,8002011Revenue 2012: $4,911,654Expenses 2012: $5,083,505Net Income 2012: -$171,8512012Revenue 2013: $5,349,960Expenses 2013: $5,427,346Net Income 2013: -$77,3862013Revenue 2014: $5,797,500Expenses 2014: $5,960,004Net Income 2014: -$162,5042014Revenue 2015: $8,754,979Expenses 2015: $6,475,883Net Income 2015: $2,279,0962015Revenue 2016: $7,099,035Expenses 2016: $6,531,582Net Income 2016: $567,4532016Revenue 2017: $7,368,258Expenses 2017: $7,064,503Net Income 2017: $303,7552017Revenue 2018: $7,175,266Expenses 2018: $6,547,243Net Income 2018: $628,0232018Revenue 2019: $7,352,409Expenses 2019: $6,492,360Net Income 2019: $860,0492019Revenue 2020: $7,538,123Expenses 2020: $6,425,285Net Income 2020: $1,112,8382020Revenue 2021: $5,961,250Expenses 2021: $4,305,058Net Income 2021: $1,656,1922021Revenue 2022: $8,133,394Expenses 2022: $5,523,238Net Income 2022: $2,610,1562022Revenue 2023: $6,204,547Expenses 2023: $6,265,937Net Income 2023: -$61,3902023Revenue 2024: $8,027,665Expenses 2024: $7,341,419Net Income 2024: $686,2462024Revenue 2025: $7,653,625Expenses 2025: $7,788,367Net Income 2025: -$134,7422025

Highlighted filing

2025

Revenue$7,653,625
Expenses$7,788,367
Net Income-$134,742

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.7$2.87$11.8$7.65$7.79$0.13
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$2.65$11.4$8.03$7.34$0.69
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.9$0.67$10.2$6.20$6.27$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.58$9.51$8.13$5.52$2.61
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.34$1.17$8.17$5.96$4.31$1.66
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.1$1.07$11.1$7.54$6.43$1.11
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.7$0.65$10.1$7.35$6.49$0.86
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.99$0.82$9.17$7.18$6.55$0.63
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.23$0.71$8.51$7.37$7.06$0.30
2016Summary only. Only limited summary data is available for this year.$8.83$0.65$8.18$7.10$6.53$0.57
2015Summary only. Only limited summary data is available for this year.$8.30$0.69$7.62$8.75$6.48$2.28
2014Summary only. Only limited summary data is available for this year.$5.93$0.58$5.34$5.80$5.96$0.16
2013Summary only. Only limited summary data is available for this year.$6.00$0.56$5.44$5.35$5.43$0.08
2012Summary only. Only limited summary data is available for this year.$6.08$0.57$5.50$4.91$5.08$0.17
2011Summary only. Only limited summary data is available for this year.$6.12$0.44$5.68$4.50$4.88$0.38
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Nov 14, 2025
Return Version
2024v5.2
Gross Receipts
$8,752,334
Mission and Program Overview

Mission

Through all of its programs, richmond ballet strives to expand access to dance for the benefit of the entire community. At the heart of the organization's mission, to awaken, uplift, and unite human spirits, is the conviction that the appetite and need for arts experiences is both universal and eternal. Engagement with the arts creates shared experiences that unite people of diverse backgrounds. Richmond ballet is committed to identifying and carving pathways through barriers in access to these experiences for all members of the community.

Richmond ballet awakens, uplifts, and unites human spirits through the power of dance. Dedicated to the evolution of ballet as a versatile language of movement that crosses national and cultural boundaries, we seek to draw an ever-broader range of artists, students, and audiences to experience the power of dance through inspiring performances, outstanding training, and meaningful community engagement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$6,673,019$7,768,830▲ $1,095,811
Land, Buildings, and Equipment, Net$2,250,953$2,247,615▼ $3,338
Savings and Temporary Cash Investments$1,892,725$1,265,590▼ $627,135
Cash and Non-Interest-Bearing Accounts$559,612$708,806▲ $149,194
Pledges and Grants Receivable$510,106$658,061▲ $147,955
Prepaid Expenses and Deferred Charges$154,666$164,500▲ $9,834
Accounts Receivable$35,369$59,676▲ $24,307
Inventories for Sale or Use$25,214$40,675▲ $15,461
Total Assets$14,066,266$14,711,015▲ $644,749
Other Assets Total$1,964,602$1,797,262▼ $167,340
Liabilities
Other Liabilities$1,988,349$1,850,436▼ $137,913
Deferred Revenue$451,856$571,428▲ $119,572
Accounts Payable and Accrued Expenses$205,920$444,572▲ $238,652
Total Liabilities$2,646,125$2,866,436▲ $220,311
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,749,337$7,874,776▲ $125,439
Net Assets With Donor Restrictions$3,670,804$3,969,803▲ $298,999
Total Net Assets Fund Balance$11,420,141$11,844,579▲ $424,438
Total Liabilities and Net Assets / Fund Balance$14,066,266$14,711,015▲ $644,749

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,972,215$2,192,343$4,164,558
Leasehold Improvements$129,991$16,679$146,670
Other Land Buildings$145,409-$145,409
Other Assets Org$1,797,262--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$4,155,699$115,000▲ $430,757-$4,701,456
2023$3,669,679$50,000▲ $436,020-$4,155,699
2022$3,281,182$76,782▲ $311,715-$3,669,679
2021$2,916,842$784,000▼ $419,660-$3,281,182
2020$2,301,816$125,000▲ $541,783$46,593$2,916,842
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ma CongAssoc. Artistic DirectorFT$123,093$15,193$138,286
Stoner WinslettArtistic DirectorFT$110,544$5,755$116,299
Michelle MullerChief Financial OfficerFT$97,658$4,865$102,523
Brett BondaFormer Managing DirectorFT$86,031$10,833$96,864
Maya ErhardtExecutive DirectorFT$61,677-$61,677

Highest Paid Contractors

ContractorServicesLocationCompensation
Richmond SymphonyLive Orchestra612 E GRACE ST SUITE 401, Richmond, VA 23219$243,934
Revenue and Support

Revenue Composition

Contributions and Grants
$3,099,011
Program Service Revenue
$4,320,355
Investment Income
$250,087
Other Revenue
$-15,828
All Other Contributions
$2,513,842
Change in Net Assets
$-134,742
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,531,093
Other Expenses$2,898,376
Total Fundraising Expense$411,385
Grants and Similar Amounts Paid$358,898
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,151,742$275,776$188,004$3,615,522
Occupancy$667,282$22,805$7,149$697,236
Current Officers, Directors, Trustees, and Key Employees$198,706$138,358$51,803$388,867
Grants to Domestic Individuals$340,567--$340,567
Payroll Taxes$239,328$33,885$14,762$287,975
Depreciation Depletion$254,737$5,363$8,044$268,144
Other Employee Benefits$201,705$26,073$10,951$238,729
Advertising$198,134--$198,134
Fees for Services Other$22,845$86,311$56,762$165,918
Travel$106,130$5,333$1,438$112,901
Royalties$75,569--$75,569
Office Expenses$17,989$42,831$13,291$74,111
Information Technology$7,929$48,061$4,011$60,001
Other Expenses$121,525$902$52,085$52,085
Insurance$40,497$8,918$542$49,957
Fees for Services Legal-$44,121-$44,121
Fees for Service Investment Mgmnt Fees-$40,539-$40,539
All Other Expenses$7,640$29,371$472$37,483
Fees for Services Accounting-$24,428-$24,428
Grants to Domestic Orgs$18,331--$18,331
Total Functional Expenses$6,543,907$833,075$411,385$7,788,367
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Richmond Ballet Building CorporationRichmond, VA501(c)(2)To Purchase Fixed Assets$18,331
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$184,514
Fundraising Gross Income$90,026
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$503,016$90,026$46,566$43,460
Total Events$503,016$90,026$184,514$-94,488
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liabilities$1,850,436
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Before filing, the 990 is circulated via email to all voting members of the board of trustees for review. Paper copies are also available upon request. The finance committee of the board of trustees is responsible for the final review.

Form 990, Part VI, Section B, Line 12C

The ballet distributes a conflict of interest form to all members of the board of trustees at their annual meeting. The form is completed by each trustee stating any conflicts and returned to the ballet in a timely manner. For each interest disclosed to the president, he/she will determine whether to: 1) take no action 2) assure full disclosure to the board of trustees and other individuals covered by the policy 3) ask the person to recuse from participation in related discussions or decisions within the organization or 4) ask the person to resign his/her position or, if the person refuses to resign, they are subject to removal.

Form 990, Part VI, Section B, Line 15A

The head of human resources forwards all appropriate documentation to the president of the board of trustees to review any increases in compensation for the artistic director and the managing/executive director. In turn, the artistic director and managing/executive director are responsible for approving all other key employees' salaries.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, policies, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Richmond Ballet
EIN
54-6049848
Phone
8043440906
Address
407 E CANAL STREET, RICHMOND, VA 23219
Doing Business As
Richmond Ballet

Signing Officer

Name
Kathleen Holman
Title
Executive Director
Phone
8043440906
Signed
2025-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Holman
Formed
1968
Legal Domicile
Va
Voting Board Members
33
Independent Board Members
32
Employees
179
Volunteers
317

Preparer

Firm
Yount Hyde & Barbour Pc
Address
PO BOX 2560, WINCHESTER, VA 22604-1760
Preparer
Olivia a Hutton CPA
Phone
5406623417
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Accounting for uncertain tax positions "management evaluated the ballet's tax positions and concluded that the ballet had taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. With few exceptions, the ballet is no longer subject to income tax examinations by the u.s. Federal, state or local tax authorities ending before 2021."

Part V, Line 4

The endowment is currently made up of the stoner winslett scholarship fund, the general endowment fund, and the board designated endowment. The scholarship fund is permenantly restricted for the support of the scholarship of richmond ballet, "minds in motion and other outreach programs. The general fund is also permenantly restricted to aid in the long-term financial well-being of the ballet. The board designated fund is unrestricted with its purpose to be determined. 4% of the balance averaged over a 3 year period is distributed annually for scholarships and general operating (provided cumulative earnings exceed the 4%).

Raw XML AppendixShowing 400 of 860 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0RICHMOND BALLET AWAKENS, UPLIFTS, AND UNITES HUMAN SPIRITS THROUGH THE POWER OF DANCE. DEDICATED TO THE EVOLUTION OF BALLET AS A VERSATILE LANGUAGE OF MOVEMENT THAT CROSSES NATIONAL AND CULTURAL BOUNDARIES, WE SEEK TO DRAW AN EVER-BROADER RANGE OF ARTISTS, STUDENTS, AND AUDIENCES TO EXPERIENCE THE POWER OF DANCE THROUGH INSPIRING PERFORMANCES, OUTSTANDING TRAINING, AND MEANINGFUL COMMUNITY ENGAGEMENT.
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IRS990/Desc0PROFESSIONAL COMPANY PERFORMANCES - AFTER A TWENTY-PLUS YEAR CAREER AS A PRINCIPAL DANCER AND RESIDENT CHOREOGRAPHER FOR TULSA BALLET, MA CONG JOINED RICHMOND BALLET AS ASSOCIATE ARTISTIC DIRECTOR IN 2019 AND BECAME ARTISTIC DIRECTOR IN 2024. MA HAS BROUGHT A VITALITY AND ENTHUSIASM TO THE COMPANY THAT IS ROOTED IN HIS HISTORY - A CHINESE-BORN NATURALIZED CITIZEN WITH A PASSION FOR HUMANITY AND THE ARTS. DURING 2024 2025, RICHMOND BALLET REACHED A RECORD-BREAKING 86,000 PEOPLE THROUGH ALL PROGRAMS.THE 2024-2025 SEASON INCLUDED A FINAL REPERTORY PERFORMANCE AT THE RICHMOND BALLET STUDIO THEATRE. THIS FINALE FEATURED VAL CANIPAROLI'S PROVOCATIVE WHAT'S GOING ON AND A WORLD PREMIERE BALLET BY MA CONG, ENCHALANT. DECEMBER OF 2024 FEATURED 17 PERFORMANCES OF FAMILY-FAVORITE THE NUTCRACKER. THIS PRODUCTION SAW RECORD ATTENDANCE, AND APPROXIMATELY 600 PATRONS WERE ADMITTED FREE OF CHARGE, SPONSORED BY "BALLET FOR ALL" A PROGRAM DESIGNED TO DIVERSIFY OUR AUDIENCE. AFTER THE MAJOR SUCCESS OF BEN STEVENSON'S DRACULA IN THE PRIOR YEAR, RICHMOND BALLET PRESENTED HIS VERSION OF CINDERELLA, IN FEBRUARY OF 2025, TO AUDIENCE AND CRITICAL ACCLAIM. BOTH OF THESE FULL LENGTH STORY BALLETS WERE PERFORMED AT THE DOMINION ENERGY CENTER, A LARGE TRADITIONAL THEATRE IN DOWNTOWN RICHMOND, ACCOMPANIED BY THE RICHMOND SYMPHONY.IN THE SPRING OF 2025, RICHMOND BALLET MOVED THE REMAINDER OF ITS REPERTORY SERIES TO THE NEWLY RENOVATED LESLIE CHEEK THEATRE INSIDE THE VIRGINIA MUSEUM OF FINE ARTS ("VMFA"). THE MOVE DOUBLED OUR AUDIENCE CAPACITY AND ALLOWED THE BALLET TO SCHEDULE PERFORMANCES OVER A TWO-WEEK PERIOD, PERMITTING MORE OPTIONS FOR ATTENDANCE IN A MORE ACCESSIBLE AND POPULATED LOCATION IN RICHMOND. AS A PART OF THE RENOVATION, THE LESLIE CHEEK THEATRE STAGE WAS RENAMED, "THE ARMSTRONG FAMILY STAGE IN HONOR OF RICHMOND BALLET." NEWLY NAMED THE "MOVING ART" SERIES, THE INAUGURAL PERFORMANCE, MOVING ART ONE, FEATURED THREE BOLD WORKS, ALL OF WHICH WERE VIRGINIA PREMIERES: MA CONG'S PENTAPTYCH, CHRISTOPHER WHEELDON'S AFTER THE RAIN, AND VAL CANIPAROLI'S LAMBARENA. TO CLOSE OUT THE SEASON IN MAY, MOVING ART TWO FEATURED JOSHUA L. PEUGH'S SLUMP, STONER WINSLETT'S ECHOING PAST, AND YURY YANOWSKY'S WORLD PREMIERE FADING CREATURES. TOURING CONTINUES TO BE A PRIORITY FOR RICHMOND BALLET. ON OCTOBER 18, 2024, RICHMOND BALLET BROUGHT THE ICONIC CARMINA BURANA TO THE GAILLARD CENTER STAGE IN CHARLESTON, SOUTH CAROLINA. THE RICHMOND BALLET STUDIO COMPANY PERFORMED TOURS AND LECTURE DEMONSTRATIONS AT VARIOUS SCHOOLS AND LOCALITIES THROUGHOUT THE COMMONWEALTH OF VIRGINIA REACHING AN ESTIMATED 25,000 STUDENTS AND 4,000 COMMUNITY PATRONS.
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