Miami City Ballet Inc
- Assets
- $20.1m
- Revenue
- $19.9m
- Investments
- $0.0
- Employees
- 244
- Location
- Miami Beach, FL
- Founding
- 01/1986
- Data as of
- 04/2022
- EIN
- 59-2578534
Organization Overview
Miami City Ballet Inc is located in Miami Beach, FL. The organization was established in 1986. 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 04/2022, Miami City Ballet Inc employed 244 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Miami City 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 04/2022, Miami City Ballet Inc generated $19.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $20.6m during the year ending 04/2022. While expenses have increased by 4.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
IN FY 2022, MIAMI CITY BALLET TOOK THREE COMPANY PREMIERES AND ONE WORLD PREMIERE INTO ITS REPERTORY: SWAN LAKE BY ALEXEI RATMANSKY; HERMAN SCHMERMAN PAS DE DEUX BY WILLIAM FORSYTHE; AFTER THE RAIN PAS DE DEUX BY CHRISTOPHER WHEELDON; AND THE SOURCE BY CLAUDIA SCHREIER. MIAMI CITY BALLET SCHOOL ENROLLED 959 STUDENTS IN IN-PERSON AND VIRTUAL TRAINING PROGRAMS, AWARDING 581,790 IN SCHOLARSHIPS AND MIAMI CITY BALLET'S COMMUNITY ENGAGEMENT INITIATIVES SERVED 2,690 PEOPLE. MCB CONTINUED ON ITS PATH TOWARD FINANCIAL SUSTAINABILITY WITH SUSTAINED SUCCESS IN CONTRIBUTED REVENUE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESENTATION OF BALLET AND COMMUNITY EDUCATIONAL PROGRAMS TO THE PUBLIC THROUGH VIRTUAL PROGRAMMING. APPROXIMATELY 84,357 PEOPLE BENEFITED.
PROMOTION OF BALLET THROUGH THE OPERATION OF A BALLET SCHOOL FOR CHILDREN. APPROXIMATELY 3,649 PEOPLE BENEFITED BY PARTICIPATION IN DANCE EDUCATION THROUGH THE SCHOOL-YEAR TRAINING, SUMMER INTENSIVE PROGRAMS, AND COMMUNITY ENGAGEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lourdes Lopez Artistic Dir | OfficerTrustee | 60 | $465,276 |
Tania Castroverde Moskalenko Executive Di | OfficerTrustee | 60 | $442,499 |
Courtney Ford Chief Dev. O | 55 | $289,506 | |
Julii Oh Mktofc(thru3 | 55 | $222,957 | |
John J Shumaker Director Of | Officer | 55 | $177,290 |
Alexander Iziliaev Photographer | 55 | $143,371 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accent Performance Orch.musicians | 4/29/22 | $264,925 |
Wow Marketing Marketing | 4/29/22 | $188,853 |
All-stitch Cost.seamstress | 4/29/22 | $131,625 |
Verity Partners Info Technology | 4/29/22 | $122,310 |
Mark Zappone Costumedesigner | 4/29/22 | $119,068 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,196,244 |
| Related organizations | $0 |
| Government grants | $5,605,074 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,991,927 |
| Noncash contributions included in lines 1a–1f | $21,980 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,793,245 |
| Total Program Service Revenue | $5,967,855 |
| Investment income | $55,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,835 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $14,015 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,857,804 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,632,906 |
| Compensation of current officers, directors, key employees. | $638,618 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,514,668 |
| Pension plan accruals and contributions | $264,980 |
| Other employee benefits | $1,034,628 |
| Payroll taxes | $688,060 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,470 |
| Fees for services: Accounting | $31,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $252,150 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,989,896 |
| Advertising and promotion | $722,233 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $533,012 |
| Occupancy | $1,799,806 |
| Travel | $1,111,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,248 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $800,821 |
| Insurance | $0 |
| All other expenses | $349,897 |
| Total functional expenses | $20,576,683 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,189,341 |
| Savings and temporary cash investments | $1,273,679 |
| Pledges and grants receivable | $8,492,839 |
| Accounts receivable, net | $1,340,690 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $182,869 |
| Prepaid expenses and deferred charges | $242,100 |
| Net Land, buildings, and equipment | $4,290,367 |
| Investments—publicly traded securities | $2,997,904 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $45,000 |
| Other assets | $52,075 |
| Total assets | $20,106,864 |
| Accounts payable and accrued expenses | $1,718,200 |
| Grants payable | $0 |
| Deferred revenue | $2,017,534 |
| 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 | $498,779 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,981,994 |
| Total liabilities | $6,216,507 |
| Net assets without donor restrictions | $2,921,398 |
| Net assets with donor restrictions | $10,968,959 |
| 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 | $20,106,864 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Miami City Ballet Inc has recieved totaling $118,250.
| Awarding Organization | Amount |
|---|---|
Louis B Mayer Foundation New York, NY PURPOSE: FOR GENERAL OPERATING SUPPORT. | $100,000 |
Ann And Robert Fromer Charitable Foundation Inc Palm Beach, FL PURPOSE: GENERAL | $10,000 |
Dennis Edwards & Mark Steinberg Foundation Inc Miami, FL PURPOSE: GENERAL SUPPORT | $5,000 |
Madeline And Arnold Schuster Foundation Inc Palm Beach, FL PURPOSE: GENERAL PURPOSE | $3,000 |
Andrew And Carol Parsons Family Foundation Fisher Island, FL PURPOSE: ART | $250 |
Endowment Analysis
| Beg. Balance | $2,949,392 |
| Earnings | -$189,512 |
| Other Expense | -$19,620 |
| Ending Balance | $2,740,260 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Miami City Ballet Inc Miami Beach, FL | $20,106,864 | $19,857,804 |
Atlanta Ballet Incorporated Atlanta, GA | $17,685,185 | $11,298,848 |
Sarasota Ballet Of Florida Inc Sarasota, FL | $13,132,949 | $10,013,391 |
Orlando Ballet Inc Orlando, FL | $16,727,544 | $8,811,426 |
State Of Alabama Ballet Inc Birmingham, AL | $2,991,745 | $2,506,530 |
Thomas Armour Youth Ballet Inc South Miami, FL | $1,962,067 | $2,525,155 |
Northwest Florida Ballet Inc Fort Walton Beach, FL | $1,697,627 | $1,107,429 |
Boca Ballet Theatre Company Boca Raton, FL | $998,932 | $1,075,086 |
The Tallahassee Ballet Inc Tallahassee, FL | $852,817 | $1,030,970 |
Community Ballet Association Of Huntsville Inc Huntsville, AL | $1,447,227 | $996,660 |
Florida Ballet At Jacksonville Inc Jacksonville, FL | $1,731,842 | $944,196 |
Childrens Dance Foundation Birmingham, AL | $1,505,653 | $943,891 |