Carolina Ballet Inc
- Assets
- $2.6m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 104
- Location
- Raleigh, NC
- Founding
- 10/1985
- Data as of
- 06/2020
- EIN
- 56-1445383
Organization Overview
Carolina Ballet Inc is located in Raleigh, NC. The organization was established in 1985. 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 06/2021, Carolina Ballet Inc employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolina 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 06/2020, Carolina Ballet Inc generated $5.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $5.7m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
CAROLINA BALLET'S MISSION IS TO PERFORM WORLD-CLASS PROFESSIONAL BALLET, ENTERTAINING AND ENLIGHTENING AUDIENCES IN RALEIGH, THE TRIANGLE REGION, THE STATE OF NORTH CAROLINA, AND BEYOND. CAROLINA BALLET WORKS TO ACCOMPLISH THIS MISSION BY 1) ATTRACTING, DEVELOPING AND RETAINING EXCELLENT DANCERS AND ARTISTIC PERSONNEL COMBINED WITH A FISCALLY RESPONSIBLE MANAGEMENT TEAM AND BOARD OF DIRECTORS; 2) COMMISSIONING NEW WORKS BY INNOVATIVE CHOREOGRAPHERS; 3) PRESENTING TRADITIONAL BALLETS OF LEGENDARY MASTERS; AND 4) EDUCATING CURRENT AND FUTURE AUDIENCES THROUGH PROGRAMS FOR SCHOOL CHILDREN & YOUNG ADULTS AND OTHER PERFORMANCE OUTREACH ACTIVITIES.BALLET IS AN ARTISTIC DISCIPLINE THAT DAY AFTER DAY OFFERS LESSONS AND METAPHORS ON LIFE. BEING ABLE TO BRING THE UNIQUE BEAUTY, POETRY AND ATHLETIC POWER OF CLASSICAL DANCE TO THE RALEIGH COMMUNITY, THE TRIANGLE AND ACROSS NC INSPIRES OUR WORK TO PRESERVE THIS 300-YEAR-OLD TRADITION AND MOVE IT FORWARD WITH INNOVATION ROOTED IN THAT HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAROLINA BALLET OFFERS CLASSICAL WORKS, TRADITIONAL STORY BALLETS AND INNOVATIVE NEW CHOREOGRAPHY, AS WELL AS AN ANNUAL NUTCRACKER PROGRAM. WE PERFORM APPROXIMATELY 75-80 TIMES EACH SEASON. EACH YEAR, WE DONATE OVER 2,500 TICKETS TO COMMUNITY SERVICE NONPROFITS AND PERFORM A "FREE" NUTCRACKER COMMUNITY PERFORMANCE IN DECEMBER. SINCE 1998, WE HAVE PRESENTED OVER 1,000 PERFORMANCES TO MORE THAN 1M PEOPLE.THE BALLET HAS REACHED MORE THAN 100,000 CHILDREN (PRE-K TO HIGH SCHOOL) THROUGH OUTREACH AND EDUCATION PROGRAMS. DANCERS IN SCHOOLS PRESENTS HANDS-ON BALLET DEMONSTRATIONS BY PROFESSIONAL DANCERS IN ELEMENTARY SCHOOLS.WE CONTINUED TO TRAIN AND ENGAGE YOUNG AND EMERGING DANCERS THROUGH OUR RUTH SHUR SUMMER INTENSIVE, ONE OF THE TOP-RATED SUMMER BALLET TRAINING PROGRAMS IN THE COUNTRY.OUR SCHOOL OF CAROLINA BALLET (SCB) OFFERS PROFESSIONAL DANCE TRAINING AFTER SCHOOL FOR AGES 6 AND UP. SCB PROVIDES SCHOLARSHIPS FOR ECONOMICALLY DISADVANTAGED STUDENTS, REGARDLESS OF RACE OR GENDER.CAROLINA BALLET IS PROUD OF OUR ORGANIZATION'S NIMBLENESS, FLEXIBILITY AND RESILIENCY DURING THE PANDEMIC. THE BALLET WILL CELEBRATE ITS 25TH ANNIVERSARY IN FY 2022-2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Weathers Executive Director | Officer | 40 | $83,660 |
Zalman Raffael Grinberg Artistic Director & CEO | Officer | 40 | $81,071 |
Margaret Deal Treasurer | Officer | 0 | $0 |
Elise Gannaway Vice-Treasurer | Officer | 0 | $0 |
Karen Foster Chair | Officer | 0 | $0 |
Jane Small Secretary | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,466,742 |
| Investment income | $988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $172 |
| Net Income from Fundraising Events | -$16,536 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,042,638 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $150,196 |
| Compensation to disqualified persons | $2,021,867 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,806 |
| Fees for services: Accounting | $23,939 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $468,568 |
| Office expenses | $247,255 |
| Information technology | $0 |
| Royalties | $49,832 |
| Occupancy | $397,705 |
| Travel | $245,223 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,407 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $114,678 |
| Insurance | $88,526 |
| All other expenses | $0 |
| Total functional expenses | $5,741,251 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,103,595 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $888,915 |
| Accounts receivable, net | $71,045 |
| 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 | $41,339 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,591,733 |
| Accounts payable and accrued expenses | $42,596 |
| Grants payable | $0 |
| Deferred revenue | $775,494 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $12,658 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $633,673 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,357 |
| Total liabilities | $1,470,778 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $1,120,955 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Carolina Ballet Inc has recieved totaling $771,453.
| Awarding Organization | Amount |
|---|---|
Zelnak Private Foundation Raleigh, NC PURPOSE: CHARITABLE GENERAL SUPPORT | $250,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $158,318 |
Shubert Foundation Inc New York, NY PURPOSE: GENERAL OPERATING | $100,000 |
The@anne Hendricks Bass Foundation Fort Worth, TX PURPOSE: PROGRAM SUPPORT | $49,250 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $48,531 |
Trent Ragland Jr Trust 1019894918 Las Vegas, NV PURPOSE: GENERAL | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Ballet Incorporated Atlanta, GA | $17,685,185 | $11,298,848 |
Carolina Ballet Inc Raleigh, NC | $2,591,733 | $5,042,638 |
Nashville Ballet Nashville, TN | $11,017,137 | $5,073,621 |
Richmond Ballet Inc Richmond, VA | $9,343,909 | $5,961,250 |
Ballet Memphis Corporation Memphis, TN | $34,630,248 | $4,251,856 |
Columbia City Ballet Company Columbia, SC | $347,590 | $1,160,258 |
Charlottesville Ballet Charlottesville, VA | $1,147,365 | $1,342,432 |
International Ballet Greer, SC | $414,500 | $610,369 |
Ballethnic Dance Company Inc East Point, GA | $602,135 | $948,647 |
Georgia Ballet Inc Marietta, GA | $1,039,867 | $613,388 |
Virginia Ballet Company And School Fairfax, VA | $330,622 | $658,444 |
Winston-Salem Festival Ballet Inc Winston Salem, NC | $0 | $392,620 |