Civic Intelligence

Michigan Ballet Academy

990 • Fiscal year 2015 • EIN 45-2531619

Sep 01, 2014 to Aug 31, 2015 • Filed on May 11, 2016

1595 Galbraith Ave SEGrand Rapids, MI 49546

(616) 710-1666

Siviq Scores

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

Liabilities / Assets

86th percentile

0.33x

Higher debt load relative to assets than 86% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

84th percentile

0.13x

Higher debt load relative to revenue than 84% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

34th percentile

-2.6%

Higher net margin than 34% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

95th percentile

$61,583

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 19.4% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

66th percentile

13%

Faster asset growth than 66% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

46th percentile

-1.1%

Faster revenue growth than 46% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Up

$127,541

Up $15,104 (+13%) from 2014

Net Assets

Down

$85,500

Down $8,158 (-8.7%) from 2014

Liabilities

Up

$42,041

Up $23,262 (+124%) from 2014

Revenue

Down

$317,623

Down $3,654 (-1.1%) from 2014

Expenses

Up

$325,781

Up $7,961 (+2.5%) from 2014

Net Income

Down

-$8,158

Down $11,615 (-336%) from 2014

Historical Trend

Balance Sheet Trend

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

$200K$150K$100K$50K$0Assets 2011: $94,947Liabilities 2011: $9,7652011Assets 2012: $187,267Liabilities 2012: $31,750Net Assets 2012: $155,5172012Assets 2013: $139,310Liabilities 2013: $49,109Net Assets 2013: $90,2012013Assets 2014: $112,437Liabilities 2014: $18,779Net Assets 2014: $93,6582014Assets 2015: $127,541Liabilities 2015: $42,041Net Assets 2015: $85,5002015Assets 2016: $88,083Liabilities 2016: $32,705Net Assets 2016: $55,3782016Assets 2017: $82,325Liabilities 2017: $29,747Net Assets 2017: $52,5782017Assets 2018: $68,618Liabilities 2018: $15,388Net Assets 2018: $53,2302018Assets 2019: $81,842Liabilities 2019: $29,154Net Assets 2019: $52,6882019Assets 2020: $74,188Liabilities 2020: $22,610Net Assets 2020: $51,5782020Assets 2021: $68,652Liabilities 2021: $26,064Net Assets 2021: $42,5882021Assets 2022: $49,927Liabilities 2022: $25,250Net Assets 2022: $24,6772022Assets 2023: $56,506Liabilities 2023: $26,050Net Assets 2023: $30,4562023Assets 2024: $63,314Liabilities 2024: $29,050Net Assets 2024: $34,2642024

Highlighted filing

2015

Assets$127,541
Liabilities$42,041
Net Assets$85,500

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2011: $91,750Expenses 2011: $6,568Net Income 2011: $85,1822011Revenue 2012: $154,620Expenses 2012: $84,285Net Income 2012: $70,3352012Expenses 2013: $267,5682013Revenue 2014: $321,277Expenses 2014: $317,820Net Income 2014: $3,4572014Revenue 2015: $317,623Expenses 2015: $325,781Net Income 2015: -$8,1582015Revenue 2016: $307,082Expenses 2016: $337,204Net Income 2016: -$30,1222016Revenue 2017: $345,941Expenses 2017: $348,741Net Income 2017: -$2,8002017Revenue 2018: $344,426Expenses 2018: $343,774Net Income 2018: $6522018Revenue 2019: $313,226Expenses 2019: $313,768Net Income 2019: -$5422019Revenue 2020: $331,547Expenses 2020: $332,657Net Income 2020: -$1,1102020Revenue 2021: $286,206Expenses 2021: $295,196Net Income 2021: -$8,9902021Revenue 2022: $297,413Expenses 2022: $315,324Net Income 2022: -$17,9112022Revenue 2023: $320,871Expenses 2023: $315,092Net Income 2023: $5,7792023Revenue 2024: $358,754Expenses 2024: $354,946Net Income 2024: $3,8082024

Highlighted filing

2015

Revenue$317,623
Expenses$325,781
Net Income-$8,158
Jump To
Filing Snapshot
Filing Period
Sep 1, 2014 to Aug 31, 2015
Signed
May 11, 2016
Return Version
2014v6.0
Gross Receipts
$338,388
Mission and Program Overview

Mission

To deliver the highest quality ballet training in an atmosphere of creativity, challenge, encouragement, and integrity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$79,010$72,535▼ $6,475
Cash and Non-Interest-Bearing Accounts$24,071$40,608▲ $16,537
Loans From Officers Directors$15,000$15,000→ $0
Accounts Receivable-$8,042-
Pledges and Grants Receivable$3,000--
Total Assets$112,437$127,541▲ $15,104
Other Assets Total$6,356$6,356→ $0
Liabilities
Deferred Revenue$506$26,366▲ $25,860
Accounts Payable and Accrued Expenses$3,273$675▼ $2,598
Total Liabilities$18,779$42,041▲ $23,262
Net Assets / Fund Balance
Unrestricted Net Assets$93,658$85,500▼ $8,158
Total Net Assets Fund Balance$93,658$85,500▼ $8,158
Total Liabilities and Net Assets / Fund Balance$112,437$127,541▲ $15,104

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$72,535$24,583$97,118
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nikoloz MakhateliArtistic DirectorFT$61,583$61,583

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$81,171
Program Service Revenue
$235,031
Investment Income
$0
Other Revenue
$1,421
All Other Contributions
$50,864
Change in Net Assets
$-8,158
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$187,494
Salaries, Compensation, and Employee Benefits$121,825
Grants and Similar Amounts Paid$16,462
Total Fundraising Expense$9,712
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$81,963$13,916-$95,879
Current Officers, Directors, Trustees, and Key Employees$52,345$9,237-$61,582
Other Salaries and Wages$28,957$21,862-$50,819
Fees for Services Other$28,769$3,181$600$32,550
Grants to Domestic Individuals$16,462--$16,462
Payroll Taxes$7,068$2,356-$9,424
Depreciation Depletion$6,475--$6,475
Office Expenses$2,878$1,993-$4,871
Advertising$4,188--$4,188
Insurance-$3,200-$3,200
Fees for Services Accounting-$250-$250
Other Expenses$1,540$216$9,112$216
Total Functional Expenses$259,596$56,473$9,712$325,781
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$21,921
Fundraising Direct Expenses$20,765
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$52,228$21,921$20,450$1,471
Total Events$52,228$21,921$20,765$1,156
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$15,000$15,000→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
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, Part VI, Section A, Line 2

Bruce and lorna jarvis are husband and wife.

Form 990, Part VI, Section B, Line 11

The 990 is sent to the treasurer of the board for review. At this time, the entire board does not review the 990 return.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is reviewed and updated regularly to insure all conflicts have been disclosed.

Form 990, Part VI, Section C, Line 19

The organization's tax return is availalbe to the public via guidestar's website. All other documents are availalbe upon request.

Filing and Contact Details

Filer

Filer Name
Michigan Ballet Academy
EIN
45-2531619
Phone
6167101666
Address
1595 GALBRAITH AVE SE, GRAND RAPIDS, MI 49546

Signing Officer

Name
Brett Karhoff
Title
Treasurer
Phone
6167101666
Signed
2016-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Karhoff
Formed
2011
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
7
Employees
3
Volunteers
40

Preparer

Firm
Hungerford Nichols Cpas Advisors
Address
2910 LUCERNE DRIVE SE, GRAND RAPIDS, MI 49546-7175
Preparer
Corey E Balkon CPA
Phone
6169493200
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IRS990/RevenueAmt0235296
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt030836
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt021844
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt09041
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt085000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0146721
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0103092
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt079815
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt091338
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt031855
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt091750
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0397850
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0235031
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0259941
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0189771
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0122764
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0807507
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt0265
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt01789
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt010
IRS990ScheduleA/OtherIncome509Grp/TotalAmt02064
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportTotal509Amt01058636
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt030836
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt021844
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt09041
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt085000
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0146721
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0338123
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0339756
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0281109
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0154619
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt091750
IRS990ScheduleA/Total509Grp/TotalAmt01205357
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0338388
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0341545
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0281119
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0154619
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt091750
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01207421
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt072535
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt024583
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt097118
IRS990ScheduleD/TotalBookValueLandBuildingsAmt072535
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt030307
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt030307
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt020765
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0AUCTION
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt0315
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt0315
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt052228
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt052228
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt021921
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt021921
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt01156
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt020450
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt020450
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIPS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt016462
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0A SCHOLARSHIP TO REDUCE THE AMOUNT OF TUITION OWED TO THE ACADEMY.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt012
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/ValuationMethodUsedDesc0FMV
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SCHOLARSHIPS ARE GIVEN TO STUDENTS WHO ARE PART OF LOW INCOME FAMILIES AND MERIT BASED SCHOLARSHIPS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART 1 LINE 2
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt015000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0MEET PROGRAM EXPENSE NEEDS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt025000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0MARCIA MADDEN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0BOARD MEMBER
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt015000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BRUCE AND LORNA JARVIS ARE HUSBAND AND WIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 IS SENT TO THE TREASURER OF THE BOARD FOR REVIEW. AT THIS TIME, THE ENTIRE BOARD DOES NOT REVIEW THE 990 RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS REVIEWED AND UPDATED REGULARLY TO INSURE ALL CONFLICTS HAVE BEEN DISCLOSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S TAX RETURN IS AVAILALBE TO THE PUBLIC VIA GUIDESTAR'S WEBSITE. ALL OTHER DOCUMENTS ARE AVAILALBE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0112437
IRS990/TotalAssetsEOYAmt0127541
IRS990/TotalAssetsGrp/BOYAmt0112437
IRS990/TotalAssetsGrp/EOYAmt0127541
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt081171
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt09712
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt056473
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0259596
IRS990/TotalFunctionalExpensesGrp/TotalAmt0325781
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt018779
IRS990/TotalLiabilitiesEOYAmt042041
IRS990/TotalLiabilitiesGrp/BOYAmt018779
IRS990/TotalLiabilitiesGrp/EOYAmt042041

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.63$0.29$0.34$3.59$3.55$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.57$0.26$0.30$3.21$3.15$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.50$0.25$0.25$2.97$3.15$0.18
2021Detailed filing. Detailed filing data is available for this year.$0.69$0.26$0.43$2.86$2.95$0.09
2020Detailed filing. Detailed filing data is available for this year.$0.74$0.23$0.52$3.32$3.33$0.01
2019Detailed filing. Detailed filing data is available for this year.$0.82$0.29$0.53$3.13$3.14$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.69$0.15$0.53$3.44$3.44$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.30$0.53$3.46$3.49$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.88$0.33$0.55$3.07$3.37$0.30
2015Detailed filing. Detailed filing data is available for this year.$1.28$0.42$0.86$3.18$3.26$0.08
2014Detailed filing. Detailed filing data is available for this year.$1.12$0.19$0.94$3.21$3.18$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.49$0.90$2.68
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.87$0.32$1.56$1.55$0.84$0.70
2011Summary only. Only limited summary data is available for this year.$0.95$0.10$0.92$0.07$0.85