School Of American Ballet Inc is located in New York, NY. The organization was established in 1942. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2023, School Of American Ballet Inc employed 196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. School Of American Ballet Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, School Of American Ballet Inc generated $13.0m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $18.3m during the year ending 08/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IN FY 2023, THE SCHOOL OF AMERICAN BALLET PASSED KNOWLEDGE OF THE BALANCHINE BALLET TRADITION FROM 22 GIFTED FACULTY MEMBERS TO SOME 780 STUDENTS IN ITS PROGRAMS. THESE FACULTY MEMBERS WERE AUGMENTED BY A SELECTED NEW YORK CITY BALLET COMPANY MEMBER WHO PARTICIPATED IN A TEACHER TRAINING PROGRAM AT SAB. THEY WERE ALSO JOINED BY A NUMBER OF NOTABLE GUEST FACULTY. IN SEEKING VERY TALENTED STUDENTS, THE SCHOOL CONTINUED ITS LOCAL, NATIONAL AND INTERNATIONAL OUTREACH AND RECRUITMENT EFFORTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TEACHING AND OTHER ARTISTIC PROGRAMSTHE SCHOOL PROVIDES BALLET TRAINING TO STUDENTS AGES 6 TO 19, AT APPROPRIATE LEVELS OF CONCENTRATION. DURING THE WINTER TERM (SEPTEMBER - JUNE), ADVANCED STUDENTS HAVE 36 WEEKS OF CLASSES WITH UP TO 20.25 HOURS PER WEEK. THE YOUNGEST STUDENTS MEET TWICE WEEKLY FOR AN HOUR FOR 35 WEEKS. DURING FY 2023, 436 STUDENTS WERE ENROLLED DURING WINTER TERM. DURING WINTER TERM 2022-2023, STUDENTS REPRESENTED 25 STATES AND 2 FOREIGN COUNTRIES. WINTER TERM CURRICULUM ALSO INCLUDES ADDITIONAL OPPORTUNITIES, PARTICULARLY FOR ADVANCED STUDENTS, SUCH AS CHOREOGRAPHIC WORKSHOP AND YEAR END PERFORMANCE. THE SCHOOL ALSO OFFERS A 5-WEEK INTENSIVE SUMMER COURSE. 212 STUDENTS TOOK PART IN THE SUMMER PROGRAM DURING FY 2023. FY 2023 ALSO SAW THE SIXTH YEAR OF A ONE-WEEK NEW YORK CITY JUNIOR PROGRAM THAT ENROLLED 132 STUDENTS. THE SCHOOL PROVIDED $1,052K IN TUITION SCHOLARSHIP AND AWARDS DURING FY23. FOR WINTER TERM, 19% OF DAY STUDENTS OTHER THAN THOSE ENROLLED IN TUITION FREE BOYS PROGRAM RECEIVED TUITION FINANCIAL AID. 51 STUDENTS WERE ENROLLED IN THE TUITION FREE BOYS PROGRAM. FOR NEW YORK SUMMER COURSE, 31% OF STUDENTS WERE AWARDED TUITION SCHOLARSHIPS. IN NEW YORK JUNIOR PROGRAM, 16% STUDENTS RECEIVED TUITION SCHOLARSHIPS. THE SCHOOL EXTENDS ITS PROGRAM EFFORTS IN THE NEW YORK METROPOLITAN AREA BY CONDUCTING COMMUNITY LECTURES/DEMONSTRATIONS AND COMMUNITY AUDITIONS.
OTHER PROGRAM SERVICES REFLECTS ADDITIONAL EARNED INCOME. INCLUDED HERE ARE FEES FROM LICENSING A BALLET TO WHICH GEORGE BALANCHINE GAVE SAB RIGHTS; THIS INCOME IS ADDED TO ENDOWMENT.
STUDENT SERVICES AND RESIDENCETHE SCHOOL PROVIDES SUPPORT SERVICES FOCUSED ON STUDENTS' OVERALL HEALTH AND WELL-BEING, INCLUDING NURSING CARE, NUTRITIONAL COUNSELING, ACADEMIC TUTORING, PILATES TRAINING AND PHYSICAL THERAPY FOR STUDENTS LIVING IN THE RESIDENCE HALL (54 DURING WINTER TERM AND 188 DURING SUMMER COURSE). STAFF MEMBERS PROVIDE ON-GOING SUPERVISION, ALONG WITH SEMINARS AS WELL AS CULTURAL AND SOCIAL ACTIVITIES. IN FY23, THE SCHOOL FURTHER DEVELOPED ITS PROFESSIONAL PLACEMENT PROGRAM TO ASSIST ADVANCED STUDENTS FOR PROFESSIONAL CAREERS. THE SCHOOL ENDEAVORS TO ENSURE THAT RACIALLY AND SOCIOECONOMICALLY DIVERSE STUDENTS HAVE ACCESS TO THE SCHOOL'S PROGRAMS AND PROVIDES FINANCIAL AID AND THE SUPPORT THROUGH ITS DIVERSITY, EQUITY, AND INCLUSION INITIATIVE. THE SCHOOL PROVIDED $335K IN RESIDENTIAL FINANCIAL AID AND AWARDS DURING FY23. FOR WINTER TERM, 54% OF RESIDENTIAL STUDENTS RECEIVED ROOM AND BOARD FINANCIAL AID. FOR NEW YORK SUMMER COURSE, 9% OF RESIDENTIAL STUDENTS WERE AWARDED ROOM AND BOARD SCHOLARSHIPS.
ACADEMIC SUBSIDIES AND OTHER STUDENT AIDTHE SCHOOL PROVIDED $120K IN FINANCIAL SUPPORT FOR HIGH SCHOOL EDUCATION OF 6 ADVANCED STUDENTS. IN ADDITION TO THIS, THE SCHOOL SPENT $25,810 FOR ON-SITE ACADEMIC CLASSES AND 8 STUDENTS BENEFITED FROM THIS PROGRAM. STUDENTS ALSO RECEIVED TOE SHOES AT A SUBSIDIZED RATE.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kellie Johnson Abreu Director, Committee Chair | Trustee | 2 | $0 |
Elisabeth M Armstrong Director, Committee Chair, Secretary | OfficerTrustee | 2 | $0 |
Rosemary T Berkery Hausen Director, Committee Chair | Trustee | 2 | $0 |
Jim Brennan Director | Trustee | 2 | $0 |
Amanda Brotman-Schetritt Director, Committee Vice Chair | Trustee | 2 | $0 |
Judy Bernstein Bunzl Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $1,264,256 |
Related organizations | $0 |
Government grants | $1,350,672 |
All other contributions, gifts, grants, and similar amounts not included above | $4,735,606 |
Noncash contributions included in lines 1a–1f | $116,521 |
Total Revenue from Contributions, Gifts, Grants & Similar | $7,350,534 |
Total Program Service Revenue | $5,958,329 |
Investment income | $1,390,806 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$1,678,481 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $13,024,168 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $27,250 |
Grants and other assistance to domestic individuals. | $1,609,119 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,159,476 |
Compensation of current officers, directors, key employees. | $316,953 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,757,514 |
Pension plan accruals and contributions | $110,617 |
Other employee benefits | $672,545 |
Payroll taxes | $589,367 |
Fees for services: Management | $0 |
Fees for services: Legal | $4,295 |
Fees for services: Accounting | $68,836 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $95,000 |
Fees for services: Investment Management | $507,372 |
Fees for services: Other | $381,666 |
Advertising and promotion | $77,700 |
Office expenses | $151,306 |
Information technology | $137,921 |
Royalties | $0 |
Occupancy | $3,606,709 |
Travel | $159,204 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $318,533 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,198,551 |
Insurance | $26,841 |
All other expenses | $409,499 |
Total functional expenses | $18,339,505 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $605,006 |
Savings and temporary cash investments | $4,094,625 |
Pledges and grants receivable | $1,837,087 |
Accounts receivable, net | $45,692 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $458,625 |
Net Land, buildings, and equipment | $13,183,957 |
Investments—publicly traded securities | $33,694,873 |
Investments—other securities | $38,802,032 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $92,721,897 |
Accounts payable and accrued expenses | $3,150,219 |
Grants payable | $0 |
Deferred revenue | $1,439,907 |
Tax-exempt bond liabilities | $8,658,146 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $13,248,272 |
Net assets without donor restrictions | $34,195,513 |
Net assets with donor restrictions | $45,278,112 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $92,721,897 |