First State Ballet Theatre Inc
- Assets
- $879.6k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 30
- Location
- Wilmington, DE
- Founding
- 03/2000
- Data as of
- 12/2021
- EIN
- 51-0394850
Organization Overview
First State Ballet Theatre Inc is located in Wilmington, DE. The organization was established in 2000. According to its NTEE Classification (A63) the organization is classified as: Ballet, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, First State Ballet Theatre Inc employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. First State Ballet Theatre 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 12/2021, First State Ballet Theatre Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.0% each year . All expenses for the organization totaled $589.0k during the year ending 12/2021. While expenses have increased by 3.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESENT PROFESSIONAL BALLET PERFORMANCES TO AUDIENCES THROUGHOUT DELAWARE, TO PROVIDE SUPERB BALLET TRAINING AND PERFORMING OPPORTUNITIES TO ASPIRING DANCERS, AND TO EDUCATE THE DELAWARE DANCE AUDIENCE OF THE FUTURE.
Describe the Organization's Program Activity:
PERFORMANCES:NOW IN ITS 22ND SEASON, FIRST STATE BALLET THEATRE IS DELAWARE'S ONLY PROFESSIONAL BALLET COMPANY AND SERVES THOUSANDS OF DELAWAREANS EACH YEAR THROUGH OUR PERFORMANCES, OUR SCHOOL, AND OUR OUTREACH PROGRAMS. FSBT'S PERFORMING ARTISTS COME FROM AROUND THE WORLD TO DANCE IN OUR MAINSTAGE SEASON AT THE GRAND OPERA HOUSE AND OTHER PERFORMANCES STATEWIDE.
EDUCATION, TRAINING AND OUTREACH:THE SCHOOL OF FSBT IS DELAWARE'S LEADER IN CLASSICAL BALLET TRAINING AND BRINGS INTERNATIONALLY-RECOGNIZED ARTISTS TO DELAWARE TO TEACH EACH YEAR AT OUR SUMMER PROGRAMS. IN 2019, FSBT CREATED THE NATIONAL BALLET COMPETITION, WHICH AWARDS THOUSANDS OF DOLLARS IN SCHOLARSHIPS FOR ASPIRING DANCERS TO PRESTIGIOUS SUMMER PROGRAMS AROUND THE COUNTRY. FSBT'S OUTREACH PROGRAMS SERVE THOUSANDS OF DELAWAREANS WITH LOW-COST OR FREE DANCE INSTRUCTION AND LECTURE-DEMOS IN SCHOOLS AND COMMUNITY CENTERS STATEWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristina Kambalov Executive Director, Ex Off | OfficerTrustee | 40 | $56,680 |
Pasha Kambalov Artistic Director, Ex Offi | OfficerTrustee | 40 | $55,000 |
Frank O'bara President | OfficerTrustee | 5 | $0 |
Michele Hunter Vice President | OfficerTrustee | 3 | $0 |
Debra Horak Treasurer | OfficerTrustee | 1 | $0 |
Karyn Lamb Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $527,344 |
| All other contributions, gifts, grants, and similar amounts not included above | $105,883 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $633,227 |
| Total Program Service Revenue | $337,708 |
| Investment income | $103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,884 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,031,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $18,522 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,173 |
| Compensation of current officers, directors, key employees. | $14,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $219,344 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,219 |
| Payroll taxes | $27,461 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,550 |
| Advertising and promotion | $6,880 |
| Office expenses | $33,862 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,054 |
| Travel | $6,581 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,303 |
| Insurance | $10,705 |
| All other expenses | $0 |
| Total functional expenses | $589,012 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $871,990 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $7,601 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $879,591 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $1,345 |
| Total liabilities | $1,345 |
| Net assets without donor restrictions | $874,863 |
| Net assets with donor restrictions | $3,383 |
| 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 | $879,591 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that First State Ballet Theatre Inc has recieved totaling $3,047.
| Awarding Organization | Amount |
|---|---|
Rencourt Foundation Inc Wilmington, DE PURPOSE: RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY OR EDUCATION | $2,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $900 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $147 |
Endowment Analysis
| Beg. Balance | $16,999 |
| Net Contributions | $50,000 |
| Other Expense | $8,746 |
| Ending Balance | $58,253 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pittsburgh Ballet Theatre Inc Pittsburgh, PA | $29,203,539 | $16,154,254 |
Pennsylvania Ballet Association Philadelphia, PA | $31,402,587 | $18,957,678 |
Princeton Ballet Society New Brunswick, NJ | $2,389,360 | $4,682,315 |
Maryland Youth Ballet Inc Silver Spring, MD | $1,538,079 | $2,049,323 |
Central Pa Youth Ballet Carlisle, PA | $5,952,312 | $2,863,907 |
Dancemakers Inc Lanham, MD | $310,676 | $1,678,634 |
New Jersey Ballet Company Inc Florham Park, NJ | $1,730,612 | $1,894,921 |
The Ballet Theatre Of Maryland Incorporated Annapolis, MD | $381,831 | $1,071,898 |
School Of The Garden State Ballet Rutherford, NJ | $74,306 | $733,673 |
Attack Theatre Incorporated Pittsburgh, PA | $923,327 | $900,550 |
New Jersey Dance Theatre Ensemble Inc Summit, NJ | $459,906 | $705,591 |
First State Ballet Theatre Inc Wilmington, DE | $879,591 | $1,031,345 |