Ballet Memphis Corporation
- Assets
- $34.0m
- Revenue
- $2.7m
- Investments
- $15.3m
- Employees
- 55
- Location
- Memphis, TN
- Founding
- 02/1979
- Data as of
- 06/2023
- EIN
- 62-1018942
Organization Overview
Ballet Memphis Corporation is located in Memphis, TN. The organization was established in 1979. 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 06/2023, Ballet Memphis Corporation employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ballet Memphis Corporation 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 06/2023, Ballet Memphis Corporation generated $2.7m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.5%) each year. All expenses for the organization totaled $4.4m during the year ending 06/2023. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
BALLET MEMPHIS IS A DIVERSE PROFESSIONAL BALLET COMPANY WITH 18 DANCERS FROM ACROSS THE COUNTRY AND AROUND THE GLOBE. IN THE 2022-23 SEASON, BALLET MEMPHIS STAGED 4 MAINSTAGE PRODUCTIONS WITH 16 PERFORMANCES. ADDITIONALLY, THE YOUTH BALLET MEMPHIS STAGED 2 PRODUCTIONS WITH 6 PERFORMANCES. OVER 19,000 INDIVIDUALS ENJOYED A BALLET MEMPHIS PERFORMANCE.
THE BALLET MEMPHIS SCHOOL AND YOUTH BALLET MEMPHIS HAD AN ENROLLMENT OF 230 STUDENTS AGES 3 THROUGH 18 WHO PARTICIPATED IN CLASSICAL BALLET TRAINING. STUDENTS ARE PROVIDED INTRODUCTORY THROUGH ADVANCED TRAINING, INCLUDING POINT, MODERN DANCE, CHOREOGRAPHIC TECHNIQUE, AND BOYS' TECHNIQUE CLASS. BALLET MEMPHIS PROVIDES SCHOLARSHIP ASSISTANCE TO STUDENTS WITH DEMONSTRATED FINANCIAL NEED AND/OR EXCEPTIONAL ABILITY. OUR GOAL IS TO PROVIDE THE OPPORTUNITY FOR PROFESSIONAL DANCE TRAINING TO ANY STUDENT WHO DEMONSTRATES AN INTEREST AND IS WILLING TO MAKE THE COMMITMENT TO ATTEND REGULAR CLASSES. CLASSES ARE TAUGHT BY PROFESSIONAL DANCE INSTRUCTORS OR MEMBERS OF THE BALLET MEMPHIS COMPANY.
THE BALLET MEMPHIS PILATES + WELLNESS PROGRAM OFFERS MAT AND EQUIPMENT CLASSES AT TWO LOCATIONS. BALLET MEMPHIS IS A LICENSED STOTT TRAINING AND CERTIFICATION CENTER AND HAS CERTIFIED MANY OF OUR OWN DANCERS AS INSTRUCTORS. PILATES INSTRUCTION HELPS TO SUPPLEMENT INCOME FOR DANCERS AND OFFER AN ALTERNATIVE CAREER PATH, AS WELL AS OFFERS EXCELLENT TRAINING TO KEEP DANCERS IN PRIME PHYSICAL CONDITION AND REDUCE THE RISK OF INJURY. CLIENTS OF ALL PHYSICAL ABILITIES FROM ACROSS THE REGION USE THE PILATES CENTER TO MAINTAIN PHYSICAL HEALTH, RECOVER FROM INJURY, INCREASE BALANCE AND CORE STRENGTH, AND IMPROVE ATHLETIC PERFORMANCE. THE PILATES CENTER SERVED OVER 8800 VISITS IN FY2023. ADDITIONALLY, BALLET MEMPHIS OFFERS ADULT CLASSES IN BALLET AND TAP FOR FUN AND FITNESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelley Shanaman Chair | OfficerTrustee | 0 | $0 |
Dr Nehali Patel Secretary | OfficerTrustee | 0 | $0 |
Maggie Lovell Treasurer | OfficerTrustee | 0 | $0 |
Andrea Bienstock Board Member | Trustee | 0 | $0 |
Joan Schadt Biddle Board Member | Trustee | 0 | $0 |
Eric Clauson Board Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $584,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $457,093 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,041,193 |
| Total Program Service Revenue | $1,243,909 |
| Investment income | $320,505 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,201 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $17,694 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,662,090 |
| 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. | $334,683 |
| Compensation of current officers, directors, key employees. | $72,660 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,572,477 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $76,796 |
| Payroll taxes | $143,509 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $168,344 |
| Advertising and promotion | $124,554 |
| Office expenses | $112,225 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $649,386 |
| Travel | $49,578 |
| 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 | $677,256 |
| Insurance | $0 |
| All other expenses | $7,802 |
| Total functional expenses | $4,436,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $469,412 |
| Savings and temporary cash investments | $8,253 |
| Pledges and grants receivable | $421,111 |
| 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 | $68,839 |
| Net Land, buildings, and equipment | $17,472,696 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,275,485 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $311,937 |
| Total assets | $34,027,733 |
| Accounts payable and accrued expenses | $133,289 |
| Grants payable | $0 |
| Deferred revenue | $121,207 |
| 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 | $315,350 |
| Total liabilities | $569,846 |
| Net assets without donor restrictions | $21,163,630 |
| Net assets with donor restrictions | $12,294,257 |
| 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 | $34,027,733 |