Civic Intelligence

Nashville Ballet

990 • Fiscal year 2021 • EIN 58-1440788

Jun 01, 2020 to May 31, 2021 • Filed on Feb 18, 2022

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

68th percentile

0.36x

Higher debt load relative to assets than 68% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

77th percentile

0.79x

Higher debt load relative to revenue than 77% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

33rd percentile

4.6%

Higher net margin than 33% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

36th percentile

$135,666

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 2.7% of source-year revenue.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

29th percentile

2.2%

Faster asset growth than 29% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

11th percentile

-21%

Faster revenue growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Up

$11,017,137

Up $240,504 (+2.2%) from 2020

Net Assets

Up

$7,001,598

Up $243,117 (+3.6%) from 2020

Liabilities

Down

$4,015,539

Down $2,613 (-0.1%) from 2020

Revenue

Down

$5,073,621

Down $1,342,421 (-21%) from 2020

Expenses

Down

$4,841,528

Down $1,470,571 (-23%) from 2020

Net Income

Up

$232,093

Up $128,150 (+123%) from 2020

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

2021

Assets$11,017,137
Liabilities$4,015,539
Net Assets$7,001,598

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

2021

Revenue$5,073,621
Expenses$4,841,528
Net Income$232,093
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Feb 18, 2022
Return Version
2020v4.2
Gross Receipts
$5,458,603
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$7,223,039$6,838,606▼ $384,433
Cash and Non-Interest-Bearing Accounts$1,054,667$1,846,466▲ $791,799
Savings and Temporary Cash Investments$1,334,448$1,467,220▲ $132,772
Pledges and Grants Receivable$644,633$465,148▼ $179,485
Inventories for Sale or Use$199,878$149,137▼ $50,741
Prepaid Expenses and Deferred Charges$102,334$81,832▼ $20,502
Accounts Receivable$118,373$62,301▼ $56,072
Total Assets$10,776,633$11,017,137▲ $240,504
Other Assets Total$99,261$106,427▲ $7,166
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,828,507$3,058,738▲ $230,231
Deferred Revenue$666,563$605,240▼ $61,323
Accounts Payable and Accrued Expenses$523,082$351,561▼ $171,521
Total Liabilities$4,018,152$4,015,539▼ $2,613
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,664,076$6,029,381▲ $365,305
Net Assets With Donor Restrictions$1,094,405$972,217▼ $122,188
Total Net Assets Fund Balance$6,758,481$7,001,598▲ $243,117
Total Liabilities and Net Assets / Fund Balance$10,776,633$11,017,137▲ $240,504

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,206,244$2,079,106$8,285,350
Equipment$615,579$2,662,362$3,277,941
Other Land Buildings$16,783$50,010$66,793

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$61,739-▲ $11,015-$72,754
2019$61,350-▲ $389-$61,739
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
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Paul VasterlingArtistic DirectorFT$125,503$10,163$135,666
Lisa FrenchExecutive DirectorFT$121,359-$121,359

Highest Paid Contractors

ContractorServicesLocationCompensation
Driver ProductionsVideo And Photography744 ROLLING FORK DRIVE, Brentwood, TN 37027$120,010
Revenue and Support

Revenue Composition

Contributions and Grants
$4,273,983
Program Service Revenue
$786,751
Investment Income
$5,169
Other Revenue
$7,718
All Other Contributions
$2,594,325
Change in Net Assets
$232,093

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 Traded9$378,161Comparable Sales
Total Noncash Contributions9$378,161-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,047,582
Other Expenses$1,793,946
Total Fundraising Expense$387,231
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,011,039$163,292$182,994$2,357,325
Depreciation Depletion$416,126$14,986$35,967$467,079
Current Officers, Directors, Trustees, and Key Employees$93,241$85,997$76,816$256,054
Occupancy$181,801$27,887$19,828$229,516
Other Employee Benefits$164,804$50,642$8,726$224,172
Payroll Taxes$170,071$20,807$10,782$201,660
Advertising$106,366$29,392$6,107$141,865
Interest$64,370$9,921$7,054$81,345
All Other Expenses$21,716$48,869$9,307$79,892
Fees for Services Other$46,888$1,597$9,964$58,449
Insurance$44,000$6,782$4,822$55,604
Other Expenses$22,186$6,291$8,701$37,178
Fees for Services Accounting$28,579$4,405$3,132$36,116
Travel$9,194$390-$9,584
Pension Plan Contributions$8,371--$8,371
Fees for Services Management$6,133$945$672$7,750
Fees for Services Legal$3,781--$3,781
Total Functional Expenses$3,928,827$525,470$387,231$4,841,528
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
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$32,436
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 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
Yes
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 A, Line 4

In the board bylaws nashville ballet changed the quorum of the board of directors from one-third to 51 percent of the number of directors in office immediately before the meeting begins.

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

The completed form 990 is reviewed by the audit and finance committees under the direction of the executive director. Once their review is complete the audit and finance committees recommend 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.civicore.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
Laura Currie
Title
Board President
Phone
6152972966
Signed
2022-02-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Currie
Formed
1986
Legal Domicile
Tn
Voting Board Members
46
Independent Board Members
45
Employees
162
Volunteers
74

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 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 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 bring the joy of dance into the community through our virtual and in-person performances and varied community engagement programming. Despite the challenges of the covid-19 pandemic, nashville ballet was able to adapt programming, building operations, and budget in order to keep artists, staff, and faculty successfully creating, performing, training, and sharing the art form of ballet with our community throughout fy20 and fy21.

Form 990, Part III, Line 4A

Through our season performance repertory, we create and present outstanding works of art in collaboration with other notable local and international artists both virtually and in the theater. Nashville ballet and the second company, nb2 (a pre-professional training company), provide more than 55,000 arts experiences to adults and children annually through season performances and its community engagement programming. Curriculum-based community engagement programs bring dance education to community centers, colleges, public libraries, and public elementary, middle, and high schools across the state. School of nashville ballet brings world-class dance instruction to students age 2 and up and is a nationally-known leader in classical ballet training. Artistic: create a world-class artistic brand based on the foundation of classical ballet and contemporary dance innovation. Nashville ballet's 2020-2021 season featured a collection of virtual and in-theater performances. Highlights included the revival of contemporary choreographer jennifer archibald's posters where the company performed to music composed and performed live by local nashville artists louis york and the shindellas at nashville ballet's first outdoor performance at ascend amphitheater, the virtual premiere of christopher stuart's under the lights set to the music of johnny cash, and paul vasterling's ballet seasons featuring internationally-renowned composer max richter's arrangement of antonio vivaldi's the four seasons. 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. In response to the covid-19 pandemic, school of nashville ballet offered virtual training opportunities as well as limited-capacity in-studio training to students in order to continue providing excellence in dance education safely. In fy21, school of nashville ballet faculty trained 25 nb2 members and trainees as well as 27 professional training division students in preparation for their professional performance careers. As an indication of the tremendous and rigorous training provided by the school of nashville ballet, 3 members of nb2 were promoted to nashville ballet company apprentices for the 2021-2022 season and 2 professional training division students were invited to join nb2. These promotions support the organization's goal to build a pipeline from the school to the company. Additionally, 62% of the students within nb2 or the professional training division were invited to dance professionally at other companies or higher education across the country. Community engagement and education: cultivate, develop, and positively impact an inclusive community through a deepening engagement in our art. In fy21, nashville ballet continued to partner with k-12 schools to bring innovative and educational dance programming into homes and classrooms across middle tennessee and provide teachers with virtual resources to help them through the challenges brought on by the pandemic. Inside the ballet, an adult learning series, created arts advocates and engaged high school students as well as patrons over the age of 55 to help them gain understanding of the social and cultural themes surrounding a work. Elementary and middle school integrated arts experiences and performance opportunities were adapted to be presented virtually in order to meet the needs of hybrid class environments and nashville ballet launched their first free virtual afterschool program, jam. Audience development and branding: increase the number of individuals for whom we perform and create more deeply engaged audiences. In fy21, 275,180 patrons enjoyed nashville ballet's virtual and in-person performances. In december of 2020, nashville ballet made its television broadcast premiere with nashville's nutcracker on newschannel 5. Available to watch live and on-demand through newschannel 5 and newschannel 5

FORM 990, PART XI, LINE 9:

Change in value of the community foundation of middle tennessee endowment 11,015.

Form 990, Part XII, Line 2C

The organization did not change its oversight and selection process during the year.

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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Document Assets

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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
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $10M-$25M nonprofits