Civic Intelligence

Velocity Dance Center

990 • Fiscal year 2021 • EIN 91-2030037

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 10, 2022

117 E Louisa Street 268Seattle, WA 98102

(206) 325-8773

Siviq Scores

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

Liabilities / Assets

68th percentile

0.13x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

59th percentile

0.07x

Higher debt load relative to revenue than 59% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

88th percentile

54%

Higher net margin than 88% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

60th percentile

$30,360

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

99th percentile

765%

Faster asset growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

73rd percentile

47%

Faster revenue growth than 73% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$264,310

Up $233,746 (+765%) from 2020

Net Assets

Up

$230,517

Up $271,219 (+666%) from 2020

Liabilities

Down

$33,793

Down $37,473 (-53%) from 2020

Revenue

Up

$506,879

Up $161,458 (+47%) from 2020

Expenses

Down

$235,660

Down $246,932 (-51%) from 2020

Net Income

Up

$271,219

Up $408,390 (+298%) from 2020

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

2021

Assets$264,310
Liabilities$33,793
Net Assets$230,517

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

2021

Revenue$506,879
Expenses$235,660
Net Income$271,219
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 10, 2022
Return Version
2021v4.0
Gross Receipts
$522,340
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.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$256,100-
Accounts Receivable-$3,784-
Savings and Temporary Cash Investments$1,007$2,442▲ $1,435
Land, Buildings, and Equipment, Net$3,173$1,590▼ $1,583
Pledges and Grants Receivable$26,384$394▼ $25,990
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$30,564$264,310▲ $233,746
Other Assets Total-$0-
Liabilities
Unsecured Notes Loans Payable$44,710$28,230▼ $16,480
Accounts Payable and Accrued Expenses$25,278$5,563▼ $19,715
Deferred Revenue$1,278--
Total Liabilities$71,266$33,793▼ $37,473
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-43,672$163,593▲ $207,265
Net Assets With Donor Restrictions$2,970$66,924▲ $63,954
Total Net Assets Fund Balance$-40,702$230,517▲ $271,219
Total Liabilities and Net Assets / Fund Balance$30,564$264,310▲ $233,746

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$706$35,783$36,489
Leasehold Improvements$884$2,818$3,702
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Fox WhitneyInterim Art DirectorPT$25,014$5,346$30,360
Erin JohnsonInterim Mng DirectorPT$19,159$5,346$24,505

Board Members and Trustees

NameTitle
Elizabeth HoultonPresident
Colleen BorstVice President
Cameron CollinsBoard Member
Danille McCluneBoard Member
Jarman HauserBoard Member
Elizabeth BelloSecretary
Urvi NarangTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$466,367
Program Service Revenue
$43,964
Investment Income
$-148
Other Revenue
$-3,304
All Other Contributions
$79,202
Change in Net Assets
$271,219
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$121,272
Other Expenses$114,388
Total Fundraising Expense$21,768
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$35,949$12,500$6,415$54,864
Fees for Services Other$52,329$2,216-$54,545
Other Salaries and Wages$26,000$12,586$9,382$47,968
Information Technology$9,368$4,108$496$13,972
Fees for Services Accounting$7,032$1,941$1,172$10,145
Other Employee Benefits$9,103-$779$9,882
Occupancy$6,395$2,519-$8,914
Payroll Taxes$5,220$1,978$1,360$8,558
Travel$4,273$2-$4,275
Insurance$2,159$360$360$2,879
Office Expenses$1,017$299$274$1,590
Depreciation Depletion$1,187$198$198$1,583
Other Expenses$382$268$244$894
Interest-$820-$820
All Other Expenses$612$46$107$765
Total Functional Expenses$171,464$42,428$21,768$235,660
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$7,240
Fundraising Gross Income$2,354
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Happy Birthday Bash$33,422$2,354$4,690$-2,336
Total Events$33,422$2,354$7,240$-4,886
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$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 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
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, Line 11B: Form 990 Review Process

The Board of Directors reviews and approves the Form 990. The review process is led by Velocity's Board President and Treasurer.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board Members and Officers sign the conflicts of interest policy and a statement indicating interests that could give rise to conflict each year.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The Executive Director's compensation is determined by the Board of Directors. Factors considered are market rates and the constraints of Velocity's budget.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Available upon request.

Filing and Contact Details

Filer

Filer Name
Velocity Dance Center
EIN
91-2030037
Phone
2063258773
Address
117 E Louisa Street 268, Seattle, WA 98102

Signing Officer

Name
Erin Johnson
Title
Interim Managing Director
Signed
2022-06-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erin Johnson
Formed
1996
Legal Domicile
Wa
Voting Board Members
6
Independent Board Members
6
Employees
6
Volunteers
102

Preparer

Firm
Jones & Associates PLLC CPAS
Address
17544 Midvale Ave N Ste 100, Shoreline, WA 98133
Preparer
Judy C Jones CPA
Phone
2065255186
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Residencies: Velocity relaunched our Creative Residency programs in 2021, supporting artists as they reemerge from quarantine. In 2021 Velocity instigated three new Made in Seattle projects which will premiere in 2022-23. These artists receive multiple years of production, mentorship and a commission to create a new work in partnership with Velocity. We also opened applications for the Bridge Project, our residency program for three emerging artists and nine collaborating dancers that takes place each January. Finally we also opened applications for the 2022 Spring Creative Residents, where eight artists receive microgrants to fund their process.

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IRS990/MissionDesc0Velocity advances contemporary dance and movement-based art by fostering the creative explorations of artists and audiences.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Performance: In 2021 many of our Velocity Presents performance programming was online and outside. Notable programs include a co-presented premiere of Utopia:SPACE by CommonForm, in partnership with the Freeway Park Association, experienced by over 450 audience-members; Nightlight, a monthly hybrid music and dance program co-curated by Fox Whitney and Moonyka, which reached 230 audience-members; and PORTALS: pandemic dances, which was a 5-artist mixed program that had outdoor and staged iterations.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt04405
IRS990/ProgSrvcAccomActy3Grp/Desc0Studio/Theater Operation and On-Going Classes: Velocity's ongoing education programs continued online, with nearly 2500 participants taking part in online dance classes in a diverse range of forms serving participants from beginning through professional. Notable workshops included Improvisational practices with Hijack, Queen Tutts with Moonyeka, and Field Session critical discourse workshops with Vanessa DeWolf.
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0285768
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0372182
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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