Civic Intelligence

Velocity Dance Center

990 • Fiscal year 2014 • EIN 91-2030037

Jan 01, 2014 to Dec 31, 2014 • Filed on Jun 11, 2015

1621 12th AveSeattle, WA 98122

(206) 325-8773

Siviq Scores

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

Liabilities / Assets

57th percentile

0.09x

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

48th percentile

0.04x

Higher debt load relative to revenue than 48% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

58th percentile

6.1%

Higher net margin than 58% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

69th percentile

$55,000

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

69th percentile

11%

Faster asset growth than 69% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

89th percentile

66%

Faster revenue growth than 89% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Up

$382,275

Up $38,092 (+11%) from 2013

Net Assets

Up

$349,042

Up $55,012 (+19%) from 2013

Liabilities

Down

$33,233

Down $16,920 (-34%) from 2013

Revenue

Up

$895,575

Up $355,807 (+66%) from 2013

Expenses

Up

$840,563

Up $263,399 (+46%) from 2013

Net Income

Up

$55,012

Up $92,408 (+247%) from 2013

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2010: $350,021Liabilities 2010: $198,029Net Assets 2010: $151,9922010Assets 2011: $326,458Liabilities 2011: $49,866Net Assets 2011: $276,5922011Assets 2012: $369,136Liabilities 2012: $37,710Net Assets 2012: $331,4262012Assets 2013: $344,183Liabilities 2013: $50,153Net Assets 2013: $294,0302013Assets 2014: $382,275Liabilities 2014: $33,233Net Assets 2014: $349,0422014Assets 2015: $400,570Liabilities 2015: $25,909Net Assets 2015: $374,6612015Assets 2016: $363,237Liabilities 2016: $25,878Net Assets 2016: $337,3592016Assets 2017: $330,403Liabilities 2017: $21,350Net Assets 2017: $309,0532017Assets 2018: $204,781Liabilities 2018: $31,912Net Assets 2018: $172,8692018Assets 2019: $146,817Liabilities 2019: $50,348Net Assets 2019: $96,4692019Assets 2020: $30,564Liabilities 2020: $71,266Net Assets 2020: -$40,7022020Assets 2021: $264,310Liabilities 2021: $33,793Net Assets 2021: $230,5172021Assets 2022: $444,424Liabilities 2022: $6,312Net Assets 2022: $438,1122022Assets 2023: $472,305Liabilities 2023: $2,753Net Assets 2023: $469,5522023Assets 2024: $444,567Liabilities 2024: $4,025Net Assets 2024: $440,5422024

Highlighted filing

2014

Assets$382,275
Liabilities$33,233
Net Assets$349,042

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2010: $273,165Expenses 2010: $399,916Net Income 2010: -$126,7512010Expenses 2011: $421,4312011Expenses 2012: $508,3412012Revenue 2013: $539,768Expenses 2013: $577,164Net Income 2013: -$37,3962013Revenue 2014: $895,575Expenses 2014: $840,563Net Income 2014: $55,0122014Revenue 2015: $862,960Expenses 2015: $837,341Net Income 2015: $25,6192015Revenue 2016: $985,451Expenses 2016: $1,023,987Net Income 2016: -$38,5362016Revenue 2017: $656,645Expenses 2017: $684,951Net Income 2017: -$28,3062017Revenue 2018: $563,755Expenses 2018: $699,939Net Income 2018: -$136,1842018Revenue 2019: $631,183Expenses 2019: $707,583Net Income 2019: -$76,4002019Revenue 2020: $345,421Expenses 2020: $482,592Net Income 2020: -$137,1712020Revenue 2021: $506,879Expenses 2021: $235,660Net Income 2021: $271,2192021Revenue 2022: $620,889Expenses 2022: $413,294Net Income 2022: $207,5952022Revenue 2023: $685,999Expenses 2023: $654,666Net Income 2023: $31,3332023Revenue 2024: $928,127Expenses 2024: $957,137Net Income 2024: -$29,0102024

Highlighted filing

2014

Revenue$895,575
Expenses$840,563
Net Income$55,012
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Jun 11, 2015
Return Version
2014v5.0
Gross Receipts
$922,863
Mission and Program Overview

Mission

Velocity is seattle's premier art center dedicated to contemporary dance and performance. 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. Provide quality movement education to dancers from beginners to professional, in a broad range of movement styles. Produce programs that introduce audiences to a wide spectrum of contemporary dance practices and aesthetics and bring together regional talent and world-class innovators. Provide outreach and humanities programs that engage minds and inspire participation, while promoting cross-disciplinary dialogue and meaningful links between artists and the community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$194,127$236,097▲ $41,970
Cash and Non-Interest-Bearing Accounts$59,177$115,143▲ $55,966
Savings and Temporary Cash Investments$49,987--
Accounts Receivable$21,372$10,090▼ $11,282
Prepaid Expenses and Deferred Charges$2,335$3,760▲ $1,425
Total Assets$344,183$382,275▲ $38,092
Other Assets Total$17,185$17,185→ $0
Liabilities
Unsecured Notes Loans Payable$21,470--
Other Liabilities$16,433$19,387▲ $2,954
Accounts Payable and Accrued Expenses$12,250$13,846▲ $1,596
Total Liabilities$50,153$33,233▼ $16,920
Net Assets / Fund Balance
Unrestricted Net Assets$278,379$336,945▲ $58,566
Temporarily Rstr Net Assets$15,651$12,097▼ $3,554
Total Net Assets Fund Balance$294,030$349,042▲ $55,012
Total Liabilities and Net Assets / Fund Balance$344,183$382,275▲ $38,092

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$208,230$186,033$394,263
Equipment$27,867$55,423$83,290
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Tonya LockyerArtistic DirectorFT$55,000$55,000
Linda BowersManaging DirectorPT$27,045$27,045

Board Members and Trustees

NameTitle
Andrea WagnerPresident
AMY O'NEALBoard Member
Andrea FloresBoard Member
Annie K McgheeBoard Member
Frank VideoBoard Member
Glenn KawasakiBoard Member
Kristian KofoedBoard Member
Maile a MartinezBoard Member
Mark S HaimBoard Member
Melissa FeldmanBoard Member
Sara JinksBoard Member
Susan CathcartBoard Member
Liz YoungSecretary
Rebecca CamardaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$250,915
Program Service Revenue
$589,345
Investment Income
$69
Other Revenue
$55,246
All Other Contributions
$167,961
Change in Net Assets
$55,012
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$415,365
Salaries, Compensation, and Employee Benefits$212,653
Grants and Similar Amounts Paid$212,545
Total Fundraising Expense$79,011
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$212,545--$212,545
Occupancy$101,378$15,762$15,807$132,947
Fees for Services Other$120,352$1,110$4,623$126,085
Other Salaries and Wages$50,630$50,676$3,777$105,083
Current Officers, Directors, Trustees, and Key Employees$29,536$33,638$18,871$82,045
Depreciation Depletion-$28,157-$28,157
Office Expenses$19,814$2,174$3,095$25,083
Travel$19,189$335$336$19,860
Fees for Services Accounting$12,910$2,150$2,152$17,212
Payroll Taxes$7,165$8,031$1,952$17,148
All Other Expenses$7,273$1,371$1,805$10,449
Other Employee Benefits$3,265$4,924$188$8,377
Other Expenses$1,791$141$4,427$6,359
Insurance$1,949$325$325$2,599
Advertising$1,224$148$48$1,420
Information Technology$456$76$76$608
Interest$422$113$70$605
Conferences and Meetings-$281-$281
Total Functional Expenses$606,611$154,941$79,011$840,563
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$63,530
Fundraising Direct Expenses$27,288
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Bash$63,530$63,530$8,476$55,054
Total Events$63,530$63,530$27,288$36,242
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Certificates Payable$19,387
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
Yes
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, Page 6, Part VI, Line 11B

The board of directors reviews and approves the form 990. The review process is lead by velocity's board president and treasurer.

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

Board members and officers sign the confilict of interest policy and a statement indicating interests that could give rise to conflict each year.

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

The executive director's compensation is determined by the board of directors. Factors considered are market rates and the constraints of the velocity budget.

Form 990, Page 6, Part VI, Line 19

The governing documents of the organization are made available to the general public upon request.

Filing and Contact Details

Filer

Filer Name
Velocity Dance Center
EIN
91-2030037
Phone
2063258773
Address
1621 12TH AVE, SEATTLE, WA 98122

Signing Officer

Name
Tonya Lockyer
Title
Executive/artistic Director
Phone
2063258773
Signed
2015-06-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tonya Locker
Formed
1996
Legal Domicile
Wa
Voting Board Members
13
Independent Board Members
13
Employees
12
Volunteers
212

Preparer

Firm
MCCORKLE & ASSOCIATES CPA'S
Address
319 S 3RD ST, RENTON, WA 98057
Preparer
Robert L Mccorkle CPA
Phone
4252286133
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

2014 form 990 is being amended to reflect the following changes: 1. To change depreciation expense for qualifed leasehold improvement placed in service in 2009, 2010 & 2014. Depreciation method is being changed from straigt line over 9 years period to macrs over 15 years period and to elect out of bonus depreciation treatment for assets placed in service during 2014. 2. To correct compensation for an officer (linda bowers- managing director) 3. To report changes in title for some officers.

FORM 990 - ORGANIZATION'S MISSION

Velocity is seattle's premier art center dedicated to contemporary dance and performance. 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. Provide quality movement education to dancers from beginners to professional, in a broad range of movement styles. Produce programs that introduce audiences to a wide spectrum of contemporary dance practices and aesthetics and bring together regional talent and world-class innovators. Provide outreach and humanities programs that engage minds and inspire participation, while promoting cross-disciplinary dialogue and meaningful links between artists and the community.

Form 990, Page 1, Part I, Line 6

Volunteers assisted the organization with ushering, cleaning, ticket sales, technical/sound assistant, concessions sales, class sign in, data entry, auction procurement, special event help and miscellaneous handiwork.

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

Next fest nw 6,133: next fest nw is a new works series for dance artists in the pacific northwest. Four to five artists are selected through an appreciation/panel process, receive subsidized rehearsal space and are presented by velocity. In 2006, the program expanded by adding artist fees and next dance cinema, a showcase for regional dance filmmakers. Scuba 3,614- national touring network for dance: velocity offers touring opportunities to up-and-coming dance artists from seattle, minneapolis, philadelphia, and san francisco. Scuba fosters the circulation of " locally-established, nationally-emerging" dance artists between cities.

Form 990, Part IX, Line 11G

Professional fees 120,352 1,110 4,623

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IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13ARTISTIC DIR
IRS990/Form990PartVIISectionAGrp/TitleTxt14MANAGING DIR
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IRS990/MissionDesc0VELOCITY IS SEATTLE'S PREMIER ART CENTER DEDICATED TO CONTEMPORARY DANCE AND PERFORMANCE. 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. PROVIDE QUALITY MOVEMENT EDUCATION TO DANCERS FROM BEGINNERS TO PROFESSIONAL, IN A BROAD RANGE OF MOVEMENT STYLES. PRODUCE PROGRAMS THAT INTRODUCE AUDIENCES TO A WIDE SPECTRUM OF CONTEMPORARY DANCE PRACTICES AND AESTHETICS AND BRING TOGETHER REGIONAL TALENT AND WORLD-CLASS INNOVATORS. PROVIDE OUTREACH AND HUMANITIES PROGRAMS THAT ENGAGE MINDS AND INSPIRE PARTICIPATION, WHILE PROMOTING CROSS-DISCIPLINARY DIALOGUE AND MEANINGFUL LINKS BETWEEN ARTISTS AND THE COMMUNITY.
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IRS990/OtherExpensesGrp/Desc0IN-KIND EXPENSE
IRS990/OtherExpensesGrp/Desc1BANK SERVICE CHARGES
IRS990/OtherExpensesGrp/Desc2EXCISE TAX EXPENSE
IRS990/OtherExpensesGrp/Desc3SUPPLIES
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IRS990/OtherExpensesGrp/FundraisingAmt11053
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1933
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IRS990/OtherExpensesGrp/ProgramServicesAmt25504
IRS990/OtherExpensesGrp/ProgramServicesAmt31791
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IRS990/OtherRevenueMiscGrp/Desc0PROGRAM ARTIST HOUSING
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IRS990/OtherRevenueMiscGrp/Desc2VIDEO/PHOTO INCOME
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IRS990/ProgSrvcAccomActy2Grp/Desc0STRICTLY SEATTLE: STRICTLY SEATTLE IS A THREE-WEEK SUMMER DANCE INTENSIVE COMPRISED MOSTLY OF SEATTLE ARTISTS AND EDUCATORS. ADULT-ONLY PROGRAMS ARE OFFERED TO THE PUBLIC FROM BEGINNING TO PROFESSIONAL LEVELS, WITH DAILY CLASSES, REHEARSALS, AND A PUBLIC PERFORMANCE ON THE FINAL WEEKEND.
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IRS990/ProgSrvcAccomActy3Grp/Desc0SFDI: SFDI IS A WORLD-RENOWNED SUMMER DANCE FESTIVAL FOCUSED ON IMPROVISATIONAL DANCE AND RELATED FIELDS. SFDI FEATURES CLASSES, INTENSIVES, JAMS, PERFORMANCES, AND DISCUSSION WITH LEADING LOCAL, NATIONAL AND INTERNATIONAL DANCE INNOVATORS.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0NEXT FEST NW 6,133: NEXT FEST NW IS A NEW WORKS SERIES FOR DANCE ARTISTS IN THE PACIFIC NORTHWEST. FOUR TO FIVE ARTISTS ARE SELECTED THROUGH AN APPRECIATION/PANEL PROCESS, RECEIVE SUBSIDIZED REHEARSAL SPACE AND ARE PRESENTED BY VELOCITY. IN 2006, THE PROGRAM EXPANDED BY ADDING ARTIST FEES AND NEXT DANCE CINEMA, A SHOWCASE FOR REGIONAL DANCE FILMMAKERS. SCUBA 3,614- NATIONAL TOURING NETWORK FOR DANCE: VELOCITY OFFERS TOURING OPPORTUNITIES TO UP-AND-COMING DANCE ARTISTS FROM SEATTLE, MINNEAPOLIS, PHILADELPHIA, AND SAN FRANCISCO. SCUBA FOSTERS THE CIRCULATION OF " LOCALLY-ESTABLISHED, NATIONALLY-EMERGING" DANCE ARTISTS BETWEEN CITIES.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CONCESSIONS 1,163 MISCELLANEOUS INCOME 2,059 VIDEO/DVD/PHOTO INCOME 585
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART III, LINE 12
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.44$0.00$0.44$0.93$0.96$0.03
2023Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.47$0.69$0.65$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.44$0.62$0.41$0.21
2021Detailed filing. Detailed filing data is available for this year.$0.26$0.03$0.23$0.51$0.24$0.27
2020Detailed filing. Detailed filing data is available for this year.$0.03$0.07$0.04$0.35$0.48$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.15$0.05$0.10$0.63$0.71$0.08
2018Detailed filing. Detailed filing data is available for this year.$0.20$0.03$0.17$0.56$0.70$0.14
2017Detailed filing. Detailed filing data is available for this year.$0.33$0.02$0.31$0.66$0.68$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.36$0.03$0.34$0.99$1.02$0.04
2015Detailed filing. Detailed filing data is available for this year.$0.40$0.03$0.37$0.86$0.84$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.38$0.03$0.35$0.90$0.84$0.06
2013Detailed filing. Detailed filing data is available for this year.$0.34$0.05$0.29$0.54$0.58$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.37$0.04$0.33$0.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.05$0.28$0.42
2010Summary only. Only limited summary data is available for this year.$0.35$0.20$0.15$0.27$0.40$0.13