Civic Intelligence

Fort Wayne Ballet Inc.

990 • Fiscal year 2020 • EIN 35-6006394

Aug 01, 2019 to Jul 31, 2020 • Filed on Dec 11, 2020

300 E Main Street Suite 100Fort Wayne, IN 46802

(260) 484-9646

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.12x

Higher debt load relative to assets than 53% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

57th percentile

0.19x

Higher debt load relative to revenue than 57% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

58th percentile

$76,821

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

34th percentile

0.5%

Faster asset growth than 34% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

33rd percentile

-10%

Faster revenue growth than 33% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,875,945

Up $9,904 (+0.5%) from 2019

Net Assets

Down

$1,654,812

Down $108,795 (-6.2%) from 2019

Liabilities

Up

$221,133

Up $118,699 (+116%) from 2019

Revenue

Down

$1,192,685

Down $135,601 (-10%) from 2019

Expenses

Down

$1,318,820

Down $44,332 (-3.3%) from 2019

Net Income

Down

-$126,135

Down $91,269 (-262%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2017: $1,811,241Liabilities 2017: $111,880Net Assets 2017: $1,699,3612017Assets 2018: $1,864,496Liabilities 2018: $104,680Net Assets 2018: $1,759,8162018Assets 2019: $1,866,041Liabilities 2019: $102,434Net Assets 2019: $1,763,6072019Assets 2020: $1,875,945Liabilities 2020: $221,133Net Assets 2020: $1,654,8122020Assets 2021: $2,130,921Liabilities 2021: $43,204Net Assets 2021: $2,087,7172021Assets 2022: $2,459,907Liabilities 2022: $44,242Net Assets 2022: $2,415,6652022Assets 2023: $2,814,513Liabilities 2023: $103,923Net Assets 2023: $2,710,5902023Assets 2024: $2,844,885Liabilities 2024: $149,991Net Assets 2024: $2,694,8942024Assets 2025: $2,683,438Liabilities 2025: $353,282Net Assets 2025: $2,330,1562025

Highlighted filing

2020

Assets$1,875,945
Liabilities$221,133
Net Assets$1,654,812

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2017: $979,293Expenses 2017: $1,125,313Net Income 2017: -$146,0202017Revenue 2018: $1,146,336Expenses 2018: $1,076,586Net Income 2018: $69,7502018Revenue 2019: $1,328,286Expenses 2019: $1,363,152Net Income 2019: -$34,8662019Revenue 2020: $1,192,685Expenses 2020: $1,318,820Net Income 2020: -$126,1352020Revenue 2021: $1,464,494Expenses 2021: $1,275,238Net Income 2021: $189,2562021Revenue 2022: $1,784,779Expenses 2022: $1,340,626Net Income 2022: $444,1532022Revenue 2023: $1,725,262Expenses 2023: $1,432,477Net Income 2023: $292,7852023Revenue 2024: $1,502,438Expenses 2024: $1,632,798Net Income 2024: -$130,3602024Revenue 2025: $1,677,125Expenses 2025: $1,693,697Net Income 2025: -$16,5722025

Highlighted filing

2020

Revenue$1,192,685
Expenses$1,318,820
Net Income-$126,135
Jump To
Filing Snapshot
Filing Period
Aug 1, 2019 to Jul 31, 2020
Signed
Dec 11, 2020
Return Version
2019v5.0
Gross Receipts
$2,447,170
Mission and Program Overview

Mission

To feed the spirit and spark the imagination through the highest caliber professional and academy performances, dance training, and community engagement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,315,593$1,262,153▼ $53,440
Savings and Temporary Cash Investments$239,829$223,547▼ $16,282
Cash and Non-Interest-Bearing Accounts$100,903$162,469▲ $61,566
Pledges and Grants Receivable$9,250$85,850▲ $76,600
Accounts Receivable$93,846$49,265▼ $44,581
Land, Buildings, and Equipment, Net$62,337$37,373▼ $24,964
Inventories for Sale or Use$17,014$29,124▲ $12,110
Prepaid Expenses and Deferred Charges$3,181$3,181→ $0
Total Assets$1,866,041$1,875,945▲ $9,904
Other Assets Total$24,088$22,983▼ $1,105
Liabilities
Other Liabilities-$169,310-
Accounts Payable and Accrued Expenses$87,099$38,263▼ $48,836
Deferred Revenue$15,335$13,560▼ $1,775
Total Liabilities$102,434$221,133▲ $118,699
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,456,647$1,501,766▲ $45,119
Net Assets Without Donor Restrictions$306,960$153,046▼ $153,914
Total Net Assets Fund Balance$1,763,607$1,654,812▼ $108,795
Total Liabilities and Net Assets / Fund Balance$1,866,041$1,875,945▲ $9,904

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$23,975$185,322$209,297
Leasehold Improvements$13,398$63,642$77,040

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,422,619-▲ $49,185$54,239$1,399,647
2018$1,415,612-▲ $78,281$56,529$1,422,619
2017$1,427,123-▲ $38,241$49,522$1,415,612
2016$1,413,780$290▲ $71,148$46,383$1,427,123
2015$1,291,109$26,951▲ $84,517-$1,413,780
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jim SparrowExecutive DiFT$69,986$6,835$76,821
Karen Gibbons-brownArtistic DirectorFT$67,986$6,835$74,821
Revenue and Support

Revenue Composition

Contributions and Grants
$575,077
Program Service Revenue
$547,542
Investment Income
$35,544
Other Revenue
$34,522
All Other Contributions
$481,637
Change in Net Assets
$-126,135

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,177,951
Revenue Not Reported on Financial Statements
$14,734
Revenue Not Reported on Form 990
$30,898
Other Revenue Adjustments
$-4,603
Total Revenue per Audited Statements
$1,208,849
Total Revenue per Form 990
$1,192,685
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$867,334
Other Expenses$451,486
Total Fundraising Expense$54,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$575,570$32,619$29,722$637,911
Current Officers, Directors, Trustees, and Key Employees$77,723$66,792-$144,515
Fees for Services Other$100,177$2,327-$102,504
Occupancy$53,020$23,195-$76,215
Payroll Taxes$56,232$8,950$1,605$66,787
Advertising$49,438--$49,438
Office Expenses$14,769$20,815$2,838$38,422
Fees for Services Accounting-$27,964-$27,964
Depreciation Depletion$25,032$1,626-$26,658
Fees for Service Investment Mgmnt Fees-$19,337-$19,337
Other Employee Benefits$18,121--$18,121
Other Expenses$8,195$10,129$17,273$17,273
Travel$10,738$201-$10,939
Insurance-$8,417-$8,417
Information Technology$686$2,768-$3,454
Conferences and Meetings$1,092$2,344-$3,436
Fees for Services Legal-$3,195-$3,195
Interest-$485-$485
Total Functional Expenses$1,033,269$231,164$54,387$1,318,820

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,318,820
Total Expenses per Audited Statements$1,317,644
Expenses per Audited Statements$1,299,483
Expenses Not Reported on Financial Statements$19,337
Expenses Not Reported on Form 990$18,161
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$8,625
Fundraising Direct Expenses$4,672
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$16,475$8,625-$8,625
Total Events$16,475$8,625$4,672$3,953
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$169,310
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Jim sparrow karen gibbens-brown exec dir artistic dir family relationship

Form 990, Page 6, Part VI, Line 11B

A complete copy of the form 990 is provided to the board of trustees for review and approval prior to filing.

Form 990, Page 6, Part VI, Line 12C

Trustees are required to fill out conflict of interest forms at the beginning of each fiscal year. All potential conflicts are to be listed and noted. The executive committee reviews and any issues are discussed and resolved as needed.

Form 990, Page 6, Part VI, Line 15A

The executive director and executive artistic director are given negotiated contracts for a three year period which is reveiwed by the executive committee. All salaries are set and approved through the budgeting process.

Form 990, Page 6, Part VI, Line 15B

Staff and faculty are given performance reviews by the executive committee. All salaries are set and approved through the budgeting process.

Form 990, Page 6, Part VI, Line 18

The organization's form 990 for the prior three years is available at guidestar.org.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Fort Wayne Ballet Inc
EIN
35-6006394
Phone
2604849646
Address
300 E MAIN STREET SUITE 100, FORT WAYNE, IN 46802

Signing Officer

Name
Stacey Strack
Title
Trustee
Phone
2604849646
Signed
2020-12-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Sparrow
Formed
1955
Legal Domicile
In
Voting Board Members
20
Independent Board Members
20
Employees
42
Volunteers
225

Preparer

Firm
Dulin Ward & Dewald Inc
Address
9921 DUPONT CIRCLE DR W 300, FORT WAYNE, IN 46825-1610
Preparer
Carrie B Minnich CPA
Phone
2604232414
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4B

Fort wayne ballet's professional company features performances from classic masterworks to contemporary premiers from emerging choreographers. The season includes three main stage performances, three contemporary repertoire performances, and an innovative summer performance staged at nontraditional sites within the community. The organization is also committed to being actively involved in collaborative programing with other arts organizations such as the fort wayne philharmonic, heartland chamber chorale, fort wayne children's choir, and fort wayne civic theatre. Community engagement and service is a significant part of the ballet's mission. To that end, the organization presents sensory friendly productions of its mainstage performances, has established training residencies in the regions schools systems, regularly performs in community festivals, and serves as community representative outside of fort wayne. This has included performances throughout the region and internationally, most notably, a tour in china in fall 2018 and a partnership with erie ballet (pa) whereby the fort wayne ballet has traveled to erie to perform the nutcracker.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The endowments have been established to promote the mission of the organization.

Schedule D, Page 4, Part XI, Line 4B

Gain on beneficial interest 144 merchandise for sale -4,747

Schedule D, Page 4, Part XII, Line 2D

Merchandise for sale 4,747

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IRS990/ProgSrvcAccomActy2Grp/Desc0FORT WAYNE BALLET'S PROFESSIONAL COMPANY FEATURES PERFORMANCES FROM CLASSIC MASTERWORKS TO CONTEMPORARY PREMIERS FROM EMERGING CHOREOGRAPHERS. THE SEASON INCLUDES THREE MAIN STAGE PERFORMANCES, THREE CONTEMPORARY REPERTOIRE PERFORMANCES, AND AN INNOVATIVE SUMMER PERFORMANCE STAGED AT NONTRADITIONAL SITES WITHIN THE COMMUNITY. THE ORGANIZATION IS ALSO COMMITTED TO BEING ACTIVELY INVOLVED IN COLLABORATIVE PROGRAMING WITH OTHER ARTS ORGANIZATIONS SUCH AS THE FORT WAYNE PHILHARMONIC, HEARTLAND CHAMBER CHORALE, FORT WAYNE CHILDREN'S CHOIR, AND FORT WAYNE CIVIC THEATRE. COMMUNITY ENGAGEMENT AND SERVICE IS A SIGNIFICANT PART OF THE BALLET'S MISSION. TO THAT END, THE ORGANIZATION PRESENTS SENSORY FRIENDLY PRODUCTIONS OF ITS MAINSTAGE PERFORMANCES, HAS ESTABLISHED TRAINING RESIDENCIES IN THE REGIONS SCHOOLS SYSTEMS, REGULARLY PERFORMS IN COMMUNITY FESTIVALS, AND SERVES AS COMMUNITY REPRESENTATIVE OUTSIDE OF FORT WAYNE. THIS HAS INCLUDED PERFORMANCES THROUGHOUT THE REGION AND INTERNATIONALLY, MOST NOTABLY, A TOUR IN CHINA IN FALL 2018 AND A PARTNERSHIP WITH ERIE BALLET (PA) WHEREBY THE FORT WAYNE BALLET HAS TRAVELED TO ERIE TO PERFORM THE NUTCRACKER.
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