BALLET DES MOINES

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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

2002

Legal Domicile

Principal Officer

MICHAELA HART CARHOFF

Phone

5154401177

Tax Period

2023-07-01 to 2024-06-30

BALLET DES MOINES, founded in 2002, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.8M in total revenue in fiscal year 2023. Revenue surged 159% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.1M, a strong 39% operating margin.

Mission

TO ENRICH LIVES THROUGH INSPIRING DANCE PERFORMANCES, INCLUSIVE EDUCATION AND OUTREACH PROGRAMS, AND INNOVATIVE COMMUNITY PARTNERSHIPS.

Program Service Accomplishments

Program 1

Expenses: $971,405 Revenue: $652,568

DELIVERED A FULL SEASON OF FREE AND TICKETED PERFORMANCES IN COMMUNITIES ACROSS THE STATE OF IOWA, WITH FOUR MAINSTAGE PRODUCTIONS AND A STATE-WIDE SUMMER TOUR REACHING APPROXIMATELY 15,000 PATRONS. DESIGNED AND DELIVERED A FULL SEASON OF INTEGRATED ARTS EDUCATION PROGRAMS, EXPLORING VARIOUS SUBJECTS THROUGH THE LENS OF MUSIC AND MOVEMENT, IN ORDER TO BUILD CONFIDENCE, INSPIRE CREATIVITY, AND IMPROVE SUCCESS METRICS FOR STUDENTS ACROSS THE REGION. PROVIDE OPPORTUNITIES AND SCHOLARSHIPS FOR YOUNG DANCERS TO TRAIN AND PERFORM ALONGSIDE THEIR REGION'S PROFESSIONAL BALLET COMPANY.

Program 2

Expenses: $33,477

PROVIDE EDUCATION AND INCREASE COMMUNITY AWARENESS TO THE PUBLIC AND THROUGH THE SCHOOLS TO IMPROVE PERCEPTIONS OF BALLET AND FOSTER INTEREST AND APPRECIATION FOR BALLET, DANCE AND THE PERFORMING...

PROVIDE EDUCATION AND INCREASE COMMUNITY AWARENESS TO THE PUBLIC AND THROUGH THE SCHOOLS TO IMPROVE PERCEPTIONS OF BALLET AND FOSTER INTEREST AND APPRECIATION FOR BALLET, DANCE AND THE PERFORMING ARTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $2,175,558

Program Service Revenue $645,735

Investment Income $13,628

Other Revenue $6,833

TOTAL REVENUE $2,841,754

Expense Breakdown

Grants Paid $0

Salaries & Benefits $545,362

Fundraising Expenses $618,124

Program Expenses $1,004,882

Other Expenses $1,097,092

TOTAL EXPENSES $1,732,454

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,841,754	$1,096,121	+1.6%
Expenses	$1,732,454	$1,117,566	+0.6%
Net Income	$1,109,300	$-21,445	-52.7%

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

N/A

Employees

Volunteers

150

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

$105,971

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TOM SMULL	TREASURER	1.00	Officer Director	$0	$0	$0
MICHAELA HART CARHOFF	PRESIDENT	1.00	Officer Director	$0	$0	$0
BRIDGET PENICK	PAST PRESIDENT	1.00	Officer Director	$0	$0	$0
NATASHA SAYLES	DIRECTOR	1.00	Director	$0	$0	$0
JOANY JERGENS	DIRECTOR	1.00	Director	$0	$0	$0
JEFF FLEMING	DIRECTOR	1.00	Director	$0	$0	$0
SHANNON SOLE	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK SWANSON	DIRECTOR	1.00	Director	$0	$0	$0
KIRK BESH	DIRECTOR	1.00	Director	$0	$0	$0
SARA NELSON	DIRECTOR	1.00	Director	$0	$0	$0
JOEY PATINO	DIRECTOR	1.00	Director	$0	$0	$0
KYRIE WONG	DIRECTOR	1.00	Director	$0	$0	$0
NATALIE WAREHIME	SECRETARY	1.00	Director	$0	$0	$0
ANNE COOPER	DIRECTOR	1.00	Director	$0	$0	$0
BLAIRE MASSA	CEO	40.00	Officer	$105,971	$0	$105,971
THOMAS MATTINGLY	ARTIST	40.00	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	No data	No data	No data	No data
2024	$2,841,754	$1,732,454	$1,347,554	$1,109,300
2024	$2,841,754	$1,732,454	$1,347,554	$1,109,300
2023	$1,096,121	$1,117,566	$247,281	$-21,445
2022	$859,856	$1,028,871	$244,724	$-169,015
2021	$577,818	$470,890	$415,618	$106,928
2020	$624,465	$570,517	$299,873	$53,948
2019	$680,496	$622,353	$249,392	$58,143
2018	$673,431	$675,295	$201,499	$-1,864