BALLET CO-LABORATORY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2018

Legal Domicile

Principal Officer

Lindsay Keller

Phone

6513135967

Tax Period

2024-07-01 to 2025-06-30

BALLET CO-LABORATORY, founded in 2018, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2024. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $272K, a strong 25% operating margin.

Mission

Ballet Co.Laboratory is a professional ballet Company and School located in St. Paul Minnesota. The organization was founded in 2018 by Artistic Director Zoe Henrot in an effort to re-imagine how ballet is taught created and presented to advance equity in the art form. The School of Ballet Co.Laboratory offers dance classes and performance opportunities to students of all ages abilities and backgrounds. The Company stages and presents a full season of 4-6 productions every year. Their studio space is a home for dancers and movers around the Twin Cities where they can train teach and rehearse.

Program Service Accomplishments

Program 1

Expenses: $342,854 Revenue: $330,815

7th year running a ballet school offering a pre-professional training program across 7 levels of increasing skills. Over 80 students completed a full year of training with Ballet Co.Laboratory. Also presented a drop-in program for more advanced and adult dancers amateurs and professional alike. About 120 individuals participated regularly in this program.

Program 2

Expenses: $317,293 Revenue: $166,313

Produced a 32 week professional season with a company of 10 professional dancers. This seasons productions were: Nutcracker in Wonderland Holiday Harold Goes to the State Fair Emily Dickinson: the...

Produced a 32 week professional season with a company of 10 professional dancers. This seasons productions were: Nutcracker in Wonderland Holiday Harold Goes to the State Fair Emily Dickinson: the Untold Verse and An American in Paris June - Season closure. Further the company performed at several outreach venues. Most notable: Childrens Hospital Landmark Center and Pride.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $539,676

Program Service Revenue $497,128

Investment Income $1,394

Other Revenue $71,278

TOTAL REVENUE $1,109,476

Expense Breakdown

Grants Paid $0

Salaries & Benefits $531,806

Fundraising Expenses $46,624

Program Expenses $660,147

Other Expenses $305,735

TOTAL EXPENSES $837,541

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,109,476	$709,420	+0.6%
Expenses	$837,541	$721,630	+0.2%
Net Income	$271,935	$-12,210	-23.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$149,945

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Rachel Koep	Managing Director	40.00	Officer	$82,000	$0	$82,000
Zoe Henrot	Artisti Director	40.00	Officer	$67,945	$0	$67,945
Kelly Fellows	Voting Board Member	1.00	Director	$0	$0	$0
Sheena Ciminski	Voting Board Member	1.00	Director	$0	$0	$0
Lindsay Keller	President and Chair	1.00	Officer Director	$0	$0	$0
Monica Hartberg	Vice President and Secretary	1.00	Officer Director	$0	$0	$0
Rob Hinrichs	Treasurer	1.00	Officer Director	$0	$0	$0
Denis Henrot	Bookkeeper and Advisor	5.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$1,109,476	$837,541	$508,878	$271,935
2024	$709,420	$721,630	$246,156	$-12,210
2023	$657,270	$737,975	$117,661	$-80,705
2022	$575,525	$655,082	$199,864	$-79,557
2021	$499,464	$451,041	$281,399	$48,423