Civic Intelligence

Nashville Ballet

990 • Fiscal year 2019 • EIN 58-1440788

Jun 01, 2018 to May 31, 2019 • Filed on Oct 14, 2019

3630 Redmon StreetNashville, TN 37209

(615) 297-2966

Siviq Scores

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

Liabilities / Assets

64th percentile

0.36x

Higher debt load relative to assets than 64% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

71st percentile

0.57x

Higher debt load relative to revenue than 71% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

11th percentile

-18%

Higher net margin than 11% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

37th percentile

$141,435

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

7th percentile

-12%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

76th percentile

17%

Faster revenue growth than 76% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Down

$10,442,638

Down $1,386,278 (-12%) from 2018

Net Assets

Down

$6,654,149

Down $1,244,443 (-16%) from 2018

Liabilities

Down

$3,788,489

Down $141,835 (-3.6%) from 2018

Revenue

Up

$6,678,164

Up $947,754 (+17%) from 2018

Expenses

Up

$7,890,836

Up $1,716,026 (+28%) from 2018

Net Income

Down

-$1,212,672

Down $768,272 (-173%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $4,277,447Liabilities 2011: $623,590Net Assets 2011: $3,653,8572011Assets 2012: $3,709,681Liabilities 2012: $765,290Net Assets 2012: $2,944,3912012Assets 2013: $6,166,889Liabilities 2013: $2,362,359Net Assets 2013: $3,804,5302013Assets 2014: $8,736,991Liabilities 2014: $2,520,141Net Assets 2014: $6,216,8502014Assets 2015: $12,671,957Liabilities 2015: $6,132,714Net Assets 2015: $6,539,2432015Assets 2016: $13,224,313Liabilities 2016: $4,710,756Net Assets 2016: $8,513,5572016Assets 2017: $12,215,729Liabilities 2017: $3,896,915Net Assets 2017: $8,318,8142017Assets 2018: $11,828,916Liabilities 2018: $3,930,324Net Assets 2018: $7,898,5922018Assets 2019: $10,442,638Liabilities 2019: $3,788,489Net Assets 2019: $6,654,1492019Assets 2020: $10,776,633Liabilities 2020: $4,018,152Net Assets 2020: $6,758,4812020Assets 2021: $11,017,137Liabilities 2021: $4,015,539Net Assets 2021: $7,001,5982021Assets 2022: $12,126,571Liabilities 2022: $3,779,712Net Assets 2022: $8,346,8592022Assets 2023: $10,149,799Liabilities 2023: $3,668,524Net Assets 2023: $6,481,2752023Assets 2024: $8,050,066Liabilities 2024: $3,463,792Net Assets 2024: $4,586,2742024Assets 2025: $7,198,483Liabilities 2025: $3,696,933Net Assets 2025: $3,501,5502025

Highlighted filing

2019

Assets$10,442,638
Liabilities$3,788,489
Net Assets$6,654,149

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2011: $3,440,0412011Expenses 2012: $3,829,0022012Expenses 2013: $4,126,7822013Revenue 2014: $6,765,207Expenses 2014: $4,377,754Net Income 2014: $2,387,4532014Revenue 2015: $5,203,862Expenses 2015: $4,884,181Net Income 2015: $319,6812015Revenue 2016: $7,325,166Expenses 2016: $5,342,163Net Income 2016: $1,983,0032016Revenue 2017: $5,688,359Expenses 2017: $5,936,576Net Income 2017: -$248,2172017Revenue 2018: $5,730,410Expenses 2018: $6,174,810Net Income 2018: -$444,4002018Revenue 2019: $6,678,164Expenses 2019: $7,890,836Net Income 2019: -$1,212,6722019Revenue 2020: $6,416,042Expenses 2020: $6,312,099Net Income 2020: $103,9432020Revenue 2021: $5,073,621Expenses 2021: $4,841,528Net Income 2021: $232,0932021Revenue 2022: $8,429,610Expenses 2022: $7,076,639Net Income 2022: $1,352,9712022Revenue 2023: $6,525,246Expenses 2023: $8,387,876Net Income 2023: -$1,862,6302023Revenue 2024: $6,283,131Expenses 2024: $8,182,373Net Income 2024: -$1,899,2422024Revenue 2025: $7,552,527Expenses 2025: $8,639,172Net Income 2025: -$1,086,6452025

Highlighted filing

2019

Revenue$6,678,164
Expenses$7,890,836
Net Income-$1,212,672
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Oct 14, 2019
Return Version
2018v3.1
Gross Receipts
$7,615,507
Mission and Program Overview

Mission

Nashville ballet's mission is to create, perform, teach, and promote dance as an essential and inspiring element of our community. We fill that mission by offering a diverse range of dance programs in our season repertory, educating children and adults in our school of nashville ballet, and bringing the joy of dance into the community through our virtual and in-person performances and varied community engagement programming. Nashville ballet has continued to adapt programming, build operations, and increase budget in order to keep artists, staff, and faculty successfully creating, performing, training, and sharing the art form of ballet with our community and beyond through fy25 and the future.

Create, perform, teach & promote dance as an essential and inspiring element of our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,801,392$7,452,663▼ $348,729
Investments in Publicly Traded Securities$1,031,267$0▼ $1,031,267
Savings and Temporary Cash Investments$1,311,319$990,184▼ $321,135
Cash and Non-Interest-Bearing Accounts$397,850$724,031▲ $326,181
Pledges and Grants Receivable$623,095$540,426▼ $82,669
Prepaid Expenses and Deferred Charges$324,013$305,808▼ $18,205
Accounts Receivable$143,307$190,285▲ $46,978
Inventories for Sale or Use$109,371$135,119▲ $25,748
Total Assets$11,828,916$10,442,638▼ $1,386,278
Other Assets Total$87,302$104,122▲ $16,820
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,522,641$2,421,449▼ $101,192
Deferred Revenue$1,122,795$1,169,429▲ $46,634
Accounts Payable and Accrued Expenses$284,888$197,611▼ $87,277
Total Liabilities$3,930,324$3,788,489▼ $141,835
Net Assets / Fund Balance
Unrestricted Net Assets$6,054,873$5,613,812▼ $441,061
Permanently Rstr Net Assets$813,163$1,040,337▲ $227,174
Temporarily Rstr Net Assets$1,030,556$0▼ $1,030,556
Total Net Assets Fund Balance$7,898,592$6,654,149▼ $1,244,443
Total Liabilities and Net Assets / Fund Balance$11,828,916$10,442,638▼ $1,386,278

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,635,595$1,591,384$8,226,979
Equipment$796,537$2,183,712$2,980,249
Other Land Buildings$20,531$46,262$66,793

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$1,095,624$168,045▼ $2,194$1,200,125$61,350
2017$1,062,168$21,158▲ $57,656$45,358$1,095,624
2016$894,449$102,176▲ $86,087$20,544$1,062,168
2015$292,103$568,510▲ $53,855$20,019$894,449
2014$288,153$7,100▲ $5,925$9,075$292,103
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul VasterlingArtistic DirectorFT$128,018$13,417$141,435
Lisa FrenchExecutive DirectorFT$121,000$10,908$131,908

Board Members and Trustees

NameTitle
Jennifer PuryearPresident
Laura CurrieVice President
Adrienne McraeBoard Member
Allison CottonBoard Member
Amber HolmBoard Member
Anissa Nelson-carlisleBoard Member
Anna HemnesBoard Member
Brant PhillipsBoard Member
Brooke TrusleyBoard Member
Catherine Gemmato-smithBoard Member
Charlyn JarrellsBoard Member
Dallas WiltBoard Member
Dan SlipkovichBoard Member
Dionne LucasBoard Member
Don MoodyBoard Member
Elizabeth CatoBoard Member
Gerry HaydenBoard Member
Grace Rich FrenchBoard Member
Jessica OsakiBoard Member
Jim MunroBoard Member
Joe SowellBoard Member
John Carter CashBoard Member
Johnna WatsonBoard Member
Julie StadlerBoard Member
Kay HellerBoard Member
Kerri CavanaughBoard Member
Kindy HenslerBoard Member
Lance BloomBoard Member
Laura CooperBoard Member
Laurie EskindBoard Member
Mary Morgan KetchelBoard Member
Meera BallalBoard Member
Melissa MahanesBoard Member
Monica Cintado-scokinBoard Member
Neil KrugmanBoard Member
Patricia EastwoodBoard Member
Roger MooreBoard Member
Sam DashiellBoard Member
Shannon SandersBoard Member
Sharon SandahlBoard Member
Stephen PelusoBoard Member
Susan Short JonesBoard Member
Suzan Gibbs IlicBoard Member
Sylvain LapointeBoard Member
Heather ThorneSecretary
Hunter HillTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Nashville SymphonySymphony For Ballet SeasonONE SYMPHONY PLACE, Nashville, TN 37201-2031$418,506
Belmont UniversityLodging For Si Students1900 BELMONT BLVD, Nashville, TN 37206$241,355
Revenue and Support

Revenue Composition

Contributions and Grants
$2,594,216
Program Service Revenue
$3,717,012
Investment Income
$41,308
Other Revenue
$325,628
All Other Contributions
$2,178,029
Change in Net Assets
$-1,212,672

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded7$56,042Fair Market Value
Other Non Cash Contri Table2$15,599Fair Market Value
Other Non Cash Contri Table1$8,625Fair Market Value
Other Non Cash Contri Table2$3,050Fair Market Value
Other Non Cash Contri Table4$2,755Fair Market Value
Total Noncash Contributions16$86,071-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,457,604
Salaries, Compensation, and Employee Benefits$3,233,107
Grants and Similar Amounts Paid$1,200,125
Total Fundraising Expense$570,884
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,132,788$124,956$240,273$2,498,017
Grants to Domestic Orgs$1,200,125--$1,200,125
Occupancy$426,684$13,938$25,747$466,369
Depreciation Depletion$404,301$15,042$36,102$455,445
Advertising$342,398$7,837$5,313$355,548
Current Officers, Directors, Trustees, and Key Employees$99,058$91,826$81,807$272,691
Other Employee Benefits$189,972$15,550$24,148$229,670
Payroll Taxes$177,011$16,826$24,694$218,531
Travel$152,503$5,464$4,397$162,364
Fees for Services Other$74,961$6,936$55,052$136,949
Other Expenses$52,543$79,218$2,876$134,637
All Other Expenses$33,648$22,838$43,305$99,791
Interest$64,067$6,149$9,162$79,378
Insurance$34,952$6,026$4,829$45,807
Fees for Services Accounting-$21,665-$21,665
Pension Plan Contributions$12,736$348$1,114$14,198
Fees for Services Legal$13,473$500-$13,973
Fees for Service Investment Mgmnt Fees-$6,056-$6,056
Total Functional Expenses$6,863,017$456,935$570,884$7,890,836
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nashville Ballet FoundationNashville, TN501(c)(3)Transfer of Donor and Board Designated Endowment to Separate Entity, Nashville Ballet Foundation.-
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$542,571
Fundraising Direct Expenses$249,776
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Ballet Ball$577,442$536,213$164,918$371,295
Total Events$577,442$536,213$249,776$286,437
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Owen ThorneSon of a Board MemberDancer Paid by the BalletNo$31,924
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The completed form 990 is reviewed by the finance committee under the direction of the executive director. Once their review is complete the finance committee recommends that both the executive director and board of directors accept the completed form 990 as presented. The completed form 990 is provided electronically via e-mail to all board members in advance of the filing. Any board members who cannot receive documents electronically are provided with a paper copy.

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

The board president and other board officers review the annual conflict of interest disclosure statements and note conflicts so they can ask select board members to recuse themselves from participating in discussions and votes on topics with which they have previously disclosed a conflict.

Form 990, Part VI, Section B, Line 15

A committee of the board of directors annually reviews the compensation of the artistic director and the executive director. They also benchmark the compensation against compensation provided to similar positions in comparable dance companies

Form 990, Part VI, Section C, Line 19

Nashville ballet makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Annual audits and significant other company information is available through the website https://givingmatters.guidestar.org/

Filing and Contact Details

Filer

Filer Name
Nashville Ballet
EIN
58-1440788
Phone
6152972966
Address
3630 REDMON STREET, NASHVILLE, TN 37209

Signing Officer

Name
Jennifer Puryear
Title
Board President
Phone
6152972966
Signed
2019-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Puryear
Formed
1986
Legal Domicile
Tn
Voting Board Members
46
Independent Board Members
45
Employees
183
Volunteers
300

Preparer

Firm
Kraftcpas Pllc
Address
555 GREAT CIRCLE ROAD, NASHVILLE, TN 37228
Preparer
Frances E Leahy
Phone
6152427351
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Our mission is to create, perform, teach, and promote dance as an essential and inspiring element of our community. Through our season performance repertory, we create and present outstanding works of art in collaboration with other notable nashville artists, including the nashville symphony and local singer-songwriters. These inspirational works of art reach more than 35,000 middle tennesseans every year. Our school of nashville ballet is a nationally known leader in classical ballet training and top of mind locally for recreational dancing. Our community engagement and educational programs permeate the community and reach over 20,000 underserved children, youth and adults in more than 12 counties across tennessee.

Form 990, Part III, Line 1

Nashville ballet's mission is to create, perform, teach and promote dance as an essential and inspiring element of our community. We fulfill that mission by offering a diverse range of dance programs in our season repertory, educating children and adults in our school of nashville ballet and bringing dance into the community through community engagement & performances.

Form 990, Part III, Line 4A

Artistic: create a world-class artistic brand based on the foundation of classical ballet and contemporary dance innovation. -nashville ballet made its debut at the world-renowned chautauqua institution in chautauqua, ny in august 2018. During a week-long residency, the company performed a collection of masterworks from george balanchine, jiri kylian and paul vasterling. Additionally, vasterling workshopped lucy negro redux with poet caroline randall williams, composer rhiannon giddens, and members of nashville ballet's company. -paul vasterling celebrated 20 years as artistic director of nashville ballet. In honor of this milestone, paul vasterling's 20th anniversary gala performance presented an evening of masterworks, including some of vasterling's own, highlighting the past, present and future of nashville ballet. Additionally, through generous community support, the paul vasterling artistic fund was created to ensure the future of this artistic legacy. -in february 2019, nashville ballet premiered lucy negro redux. This project not only sold out all performances, it also received critical acclaim from the new york times. Additionally, nashville ballet toured the work to the prestigious big ears festival in knoxville, tn in march 2019. School of nashville ballet: become a preeminent school of dance, noted for its development of dance artists steeped in the foundation of the ballet tradition and their own human development. -the school of nashville ballet: awarded over $200,000 in scholarships to students in fy19! This includes 30 students from residency schools programs who received over $23,000 in scholarships and the young men's scholarship program which provided over $80,000 in scholarships to 63 young men. -the school of nashville ballet saw the largest children's division enrollment ever, with revenue increasing over 25% this fiscal year. -in an ongoing effort to increase artistic performance opportunities for nb2, 6 original works were created on them over the past year and were performed at the frist museum, adventure science center, and ballet ball. -nashville ballet's inclusive and accessible adaptive dance program reaching differently-abled youth (ages 3-16) receiving pediatric outpatient rehabilitative services for a range of diagnoses including down syndrome and autism spectrum disorder expanded to two classes over two semesters with a plan to continue next year. -as an indication of the tremendous and rigorous training at the school of nashville ballet, at least one academy level student was promoted to the professional training division, one student was promoted to nb2 from the professional training division, and one nb2 dancer to the company. The last promotion is most impressive that this dancer began training in nashville ballet's own academy and continues to fulfill a goal to build a pipeline from the school to the company. Community engagement & education: cultivate, develop and positively impact an inclusive community through a deepening engagement in our art. -nashville ballet was successfully able to increase the response rate of post-program surveys by implementing new technology which sends survey links directly to audience members' phones. Survey responses continue to be over 90% goal rate of positive feedback. -now in its second season, adult learning program inside the ballet with mitchell korn continues to accomplish three strategic goals of creating arts advocates, reaching the senior population and serving as a pipeline converting participants to ticket holders to see the production of the same themed series. -successfully partnered with the treatment and research institute for autism spectrum disorders (triad) also known as the inclusion network of nashville, to present our 2nd annual sensory friendly performance in february. With the help of the triad support materials were created and provided for families and individuals to prepare and enhance their experience. Instructors from the school

FORM 990, PART XI, LINE 9:

Change in value of the community foundation of middle tennessee endowment -1,797.

FORM 990, PART XII, LINE 2C:

The organization did not change its oversight process or selection process regarding the selection of an independent accountant.

Financial Statement Notes

PART V, LINE 4:

The original principal is invested indefinitely and income generated from the principal is used to support the mission of nashville ballet.

PART X, LINE 2:

Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the ballet's income tax returns to determine whether the income tax positions meet a "more likely than not" standard of being sustained under examination by the applicable taxing authorities. Management has performed its evaluation of all income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the "more likely than not" standard. Accordingly, there are no provisions for income taxes, penalties or interest receivable or payable relating to uncertain income tax positions in the accompanying financial statements.

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.20$3.70$3.50$7.55$8.64$1.09
2024Detailed filing. Detailed filing data is available for this year.$8.05$3.46$4.59$6.28$8.18$1.90
2023Detailed filing. Detailed filing data is available for this year.$10.1$3.67$6.48$6.53$8.39$1.86
2022Detailed filing. Detailed filing data is available for this year.$12.1$3.78$8.35$8.43$7.08$1.35
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$4.02$7.00$5.07$4.84$0.23
2020Detailed filing. Detailed filing data is available for this year.$10.8$4.02$6.76$6.42$6.31$0.10
2019Detailed filing. Detailed filing data is available for this year.$10.4$3.79$6.65$6.68$7.89$1.21
2018Detailed filing. Detailed filing data is available for this year.$11.8$3.93$7.90$5.73$6.17$0.44
2017Detailed filing. Detailed filing data is available for this year.$12.2$3.90$8.32$5.69$5.94$0.25
2016Detailed filing. Detailed filing data is available for this year.$13.2$4.71$8.51$7.33$5.34$1.98
2015Detailed filing. Detailed filing data is available for this year.$12.7$6.13$6.54$5.20$4.88$0.32
2014Detailed filing. Detailed filing data is available for this year.$8.74$2.52$6.22$6.77$4.38$2.39
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.17$2.36$3.80$4.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.71$0.77$2.94$3.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.28$0.62$3.65$3.44