Velocity Dance Center
- Assets
- $472.3k
- Revenue
- $686.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Seattle, WA
- Founding
- 08/2000
- Data as of
- 12/2023
- EIN
- 91-2030037
Organization Overview
Velocity Dance Center is located in Seattle, WA. The organization was established in 2000. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Velocity Dance Center employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Velocity Dance Center 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 12/2023, Velocity Dance Center generated $686.0k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $654.7k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.7%) per year over the past 9 years. 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
VELOCITY IS SEATTLE'S CENTER DEDICATED TO CONTEMPORARY DANCE. EVERYDAY WE SUPPORT AND ADVANCE ARTISTS AND EMERGING IDEAS THROUGH COMMISSIONING, PRESENTING, RESIDENCIES, CREATIVE EXCHANGE AND ACCESS TO SPACE, FUNDING, SCHOLARSHIPS, EMPLOYMENT AND TOURING OPPORTUNITIES. WE PROVIDE QUALITY MOVEMENT EDUCATION TO DANCERS FROM BEGINNERS TO PROFESSIONAL, IN A BROAD RANGE OF MOVEMENT STYLES. WE PRODUCE PROGRAMS THAT INTRODUCE AUDIENCES TO A WIDE SPECTRUM OF CONTEMPORARY DANCE PRACTICES AND AESTHETICS AND BRING TOGETHER REGIONAL TALENT AND WORLD CLASS INNOVATORS. WE PROVIDE OUTREACH AND HUMANITIES PROGRAMS THAT ENGAGE MINDS AND INSPIRE PARTICIPATION, WHILE PROMOTING CROSS-DISCIPLINARY DIALOG AND MEANINGFUL LINKS BETWEEN ARTISTS AND THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: VELOCITY'S EDUCATION PROGRAMS INCLUDE WORKSHOPS, CLASSES, AND THE SEATTLE FESTIVAL OF DANCE + IMPROVISATION. THESE PROGRAMS SERVE ADULT AND YOUTH PARTICIPANTS, WITH DANCE AND CHOREOGRAPHY TRAINING FOR BEGINNING THROUGH PROFESSIONAL LEVEL DANCERS. IN 2023, VELOCITY EMPLOYED A TOTAL OF 57 TEACHING ARTISTS AND OFFERED EDUCATION PROGRAMS TO OVER 1130 PARTICIPANTS. SFD+I, THE YEARLY EDUCATIONAL FESTIVAL, REPRESENTED THE MAJORITY OF THESE CLASSES, WITH 98 CLASSES AND INTENSIVE OFFERINGS. VELOCITY ALSO PROVIDED OVER $15,500 IN PARTIAL AND FULL TUITION SCHOLARSHIPS FOR PARTICIPANTS DURING THE FESTIVAL.
PERFORMANCE: IN 2023, VELOCITY PRESENTED 165 ARTISTS AND HOSTED 65 PERFORMANCES AND EVENTS. VELOCITY'S PERFORMANCES INCLUDE THE CULMINATION OF OUR RESIDENCY PROGRAMS AS WELL AS THE PRESENTATION OF NEW AND EXISTING WORK THROUGH OUR CO-PRODUCTION AND GUEST ARTIST SERIES. IN ADDITION TO SERVING ARTISTS, THESE PROGRAMS WERE ATTENDED BY OVER 3500 PEOPLE, WITH 20% ATTENDING FOR FREE THROUGH FREE EVENTS AND OUR TIERED TICKETING INITIATIVE.
RESIDENCY PROGRAMS: VELOCITY'S RESIDENCY PROGRAMS SUPPORTED OVER 100 ARTISTS TO MAKE 56 NEW DANCE WORKS THROUGH FIVE DIFFERENT PROGRAMS: MADE IN SEATTLE, BRIDGE PROJECT, NEXT FEST NW, AND THE CURATING ARTIST IN RESIDENCE. THESE PROGRAMS PROVIDE FUNDING, SPACE, MENTORSHIP, AND OTHER RESOURCES TO ARTISTS AT DIFFERENT STAGES IN THEIR CAREERS. THESE PROGRAMS CELEBRATE THE VALUE OF THE PROCESS OF MAKING DANCE, AND SUPPORT ARTISTS AT THE CRITICAL AND OFTEN UNDER-RESOURCED STAGE OF PROJECT DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Borst President | OfficerTrustee | 3 | $0 |
Elizabeth Bello Secretary | OfficerTrustee | 3 | $0 |
Urvi Narang Treasurer | OfficerTrustee | 3 | $0 |
Cameron Collins Board Member | Trustee | 3 | $0 |
Jarman Hauser Board Member | Trustee | 3 | $0 |
Fox Whitney Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,823 |
| Fundraising events | $34,756 |
| Related organizations | $0 |
| Government grants | $213,595 |
| All other contributions, gifts, grants, and similar amounts not included above | $323,725 |
| Noncash contributions included in lines 1a–1f | $21,715 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $574,899 |
| Total Program Service Revenue | $106,588 |
| Investment income | $4,117 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$8,887 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $632 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $685,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,100 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $61,655 |
| Compensation of current officers, directors, key employees. | $8,259 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,571 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,390 |
| Payroll taxes | $22,765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,113 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $240,783 |
| Advertising and promotion | $489 |
| Office expenses | $13,357 |
| Information technology | $3,386 |
| Royalties | $0 |
| Occupancy | $39,896 |
| Travel | $8,646 |
| 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 | $431 |
| Insurance | $2,912 |
| All other expenses | $0 |
| Total functional expenses | $654,666 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,499 |
| Savings and temporary cash investments | $39,143 |
| Pledges and grants receivable | $30,000 |
| 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 | $5,313 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,350 |
| Total assets | $472,305 |
| Accounts payable and accrued expenses | $2,753 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $2,753 |
| Net assets without donor restrictions | $163,865 |
| Net assets with donor restrictions | $305,687 |
| 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 | $472,305 |