Greenwich Ballet Academy Inc
- Assets
- $1.0m
- Revenue
- $993.6k
- Investments
- $0.0
- Employees
- 13
- Location
- Greenwich, CT
- Founding
- 02/2007
- Data as of
- 12/2022
- EIN
- 83-0457933
Organization Overview
Greenwich Ballet Academy Inc is located in Greenwich, CT. The organization was established in 2007. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 12/2022, Greenwich Ballet Academy Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwich Ballet Academy 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 12/2022, Greenwich Ballet Academy Inc generated $993.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $767.4k during the year ending 12/2022. While expenses have increased by 3.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
GREENWICH BALLET ACADEMY WAS FOUNDED IN 2006 AND IS PROUD TO BE AMONG THE MOST PRESTIGIOUS AND HIGHLY REGARDED PRE-PROFESSIONAL CLASSICAL BALLET ACADEMIES IN THE UNITED STATES. THE ACADEMY'S MISSION IS TO NURTURE TALENTED YOUNG STUDENTS TOWARD CAREERS IN PROFESSIONAL BALLET AND OPTIMIZING COLLEGE ASPIRATIONS. THE ACADEMY TAKES GREAT CARE IN DIRECTING EACH OF ITS STUDENTS ON AN INDIVIDUAL PATH TOWARD EXCELLENCE AND WITH AN EMPHASIS ON SUPERIOR TECHNIQUE, ARTISTRY AND STAGE PRESENCE. THE ACADEMY PROMOTES THIS LEARNING IN A POSITIVE ENVIRONMENT THAT DEVELOPS NOT ONLY EXCEPTIONAL DANCE SKILLS, BUT OVERALL HEALTH, FITNESS, SELF-CONFIDENCE, AND LEADERSHIP. THE GREENWICH BALLET ACADEMY IS A NOT-FOR-PROFIT 501(C)(3) ORGANIZATION. THE ACADEMY ADMITS STUDENTS OF ANY RACE, SEX, RELIGION, NATIONAL OR ETHNIC ORIGIN AND DOES NOT DISCRIMINATE ON THE BASIS OF SUCH IN ADMINISTERING ITS POLICIES AND EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
(1) PRE-PROFESSIONAL INSTRUCTION - INSTRUCTIONS IN CLASSICAL BALLET FOR CHILDREN. PREPARES STUDENTS FOR AUDITIONS IN THE PROFESSIONAL DANCE WORLD AND CAREERS AS DANCERS.(2) STAGED PERFORMANCES - THERE ARE 2 TO 3 STAGED PERFORMANCES PER YEAR THAT GIVE STUDENTS THE NECESSARY TRAINING AND EXPERIENCE ON STAGE WHICH IS CRITICAL TO THEIR FUTURE SUCCESS AS PROFESSIONAL DANCERS.(3) SUMMER INTENSIVE PROGRAMS IN CLASSICAL BALLET - SUMMER PROGRAMS OFFER INTENSIVE TRAINING USEFUL TO THE STUDENT ASPIRING TO BECOME A PROFESSIONAL DANCER OR JUST REQUIRING MAINTENANCE OF ABILITY BETWEEN ACADEMIC YEAR PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patricia Franklin President & Chairman | OfficerTrustee | 15 | $0 |
Nerlyn Pierson Secretary | OfficerTrustee | 6 | $0 |
Angela Ho Board Member | Trustee | 2 | $0 |
Elizabeth Kellogg Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $61,837 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,837 |
| Total Program Service Revenue | $931,803 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $993,640 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $321,484 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $23,186 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $39,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,613 |
| Office expenses | $14,150 |
| Information technology | $8,162 |
| Royalties | $0 |
| Occupancy | $168,310 |
| Travel | $6,474 |
| 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 | $30,197 |
| Insurance | $15,765 |
| All other expenses | $7,089 |
| Total functional expenses | $767,356 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $761,780 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,685 |
| 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 | $6,991 |
| Net Land, buildings, and equipment | $231,630 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,840 |
| Total assets | $1,028,926 |
| Accounts payable and accrued expenses | $80,285 |
| Grants payable | $0 |
| Deferred revenue | $212,383 |
| 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 | $0 |
| Total liabilities | $292,668 |
| Net assets without donor restrictions | $736,258 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,028,926 |