Miami City Ballet Inc
- Assets
- $67.2m
- Revenue
- $24.2m
- Investments
- $0.0
- Employees
- 378
- Location
- Miami Beach, FL
- Founding
- 01/1986
- Data as of
- 04/2024
- 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 04/2024, Miami City Ballet Inc employed 378 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 04/2024, Miami City Ballet Inc generated $24.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $24.7m during the year ending 04/2024. While expenses have increased by 5.1% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
IN FY 2024, MIAMI CITY BALLET TOOK FOUR WORLD PREMIERES INTO ITS REPERTORY: JAMAL ROBERTS' SEA CHANGE, MARGARITA ARMAS' ANALOGO, DURANTE VERZOLA'S PAGANINI IN PLAY, AND RICARDO AMARANTES' DELIGHT - AND ONE COMPANY PREMIERE - ALONZO KING'S FOLLOWING THE SUBTLE CURRENT UPSTREAM - WERE ADDED TO THE COMPANY'S ALREADY IMPRESSIVE CATALOG OF NEW WORKS FROM PIONEERING VOICES IN DANCE AND BALLET. CLASSIC BALLETS PRESENTED INCLUDED SERENADE, THE NUTCRACKER AND SWAN LAKE. MIAMI CITY BALLET SCHOOL ENROLLED 733 STUDENTS IN TRAINING PROGRAMS, AWARDING 610,838 IN SCHOLARSHIPS TO 151 STUDENTS, AND MIAMI CITY BALLET'S COMMUNITY ENGAGEMENT INITIATIVES SERVED 19,781 PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESENTATION OF BALLET AND COMMUNITY EDUCATIONAL PROGRAMS TO THE PUBLIC. APPROXIMATELY 90,424 PEOPLE BENEFITED.
PROMOTION OF BALLET THROUGH THE OPERATION OF A BALLET SCHOOL FOR CHILDREN. APPROXIMATELY 22,785 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 | $723,797 |
Juan Jose Escalante Executive Di | OfficerTrustee | 60 | $327,697 |
Jeff Davis Chair | OfficerTrustee | 20 | $0 |
Charles Adelman Director | Trustee | 6 | $0 |
Jill E Braufman Director | Trustee | 5 | $0 |
Veronica DE Zayas ESQ Director | Trustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Accent Performance Llc Orch.musicians | 4/29/24 | $875,591 |
Freed Of London Ltd Ballet Shoes | 4/29/24 | $341,267 |
Capacity Interactive Consulting Llc Marketing | 4/29/24 | $268,925 |
Wow Marketing Marketing | 4/29/24 | $311,162 |
Tessitura Network Inc Software Dvlpmt | 4/29/24 | $168,852 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,371,116 |
| Related organizations | $0 |
| Government grants | $1,629,724 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,754,567 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,755,407 |
| Total Program Service Revenue | $9,427,686 |
| Investment income | $88,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$40,597 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,227,517 |
| 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. | $1,305,222 |
| Compensation of current officers, directors, key employees. | $560,864 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,948,563 |
| Pension plan accruals and contributions | $388,383 |
| Other employee benefits | $1,015,258 |
| Payroll taxes | $773,748 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,798 |
| Fees for services: Accounting | $41,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,473,953 |
| Advertising and promotion | $822,775 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $510,501 |
| Occupancy | $2,908,128 |
| Travel | $1,362,029 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $84,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $857,541 |
| Insurance | $0 |
| All other expenses | $339,368 |
| Total functional expenses | $24,666,807 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $677,712 |
| Savings and temporary cash investments | $2,541 |
| Pledges and grants receivable | $6,073,264 |
| Accounts receivable, net | $469,570 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $248,750 |
| Prepaid expenses and deferred charges | $94,965 |
| Net Land, buildings, and equipment | $3,296,473 |
| Investments—publicly traded securities | $4,160,483 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $53,500 |
| Other assets | $52,098,136 |
| Total assets | $67,175,394 |
| Accounts payable and accrued expenses | $2,070,852 |
| Grants payable | $0 |
| Deferred revenue | $2,873,491 |
| 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 | $594,348 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,925,098 |
| Total liabilities | $7,463,789 |
| Net assets without donor restrictions | -$1,565,420 |
| Net assets with donor restrictions | $61,277,025 |
| 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 | $67,175,394 |