Form 990 for tax year 2022

Filed by BALLET MEMPHIS CORPORATION.

Totals

Total revenue: $2,662,090
Total expenses: $4,436,052
Contributions and grants received: $1,041,193
Grants paid: $0
Program service revenue: $1,243,909
Investment income: $320,505
Other revenue: $56,483
Total assets, end of year: $34,027,733
Total liabilities, end of year: $569,846
Net assets or fund balances, end of year: $33,457,887
Program services expenses (Part IX): $3,120,922
Management and general expenses: $1,173,124
Fundraising expenses: $142,006
Program service expenses (Part III): $3,120,922

Program services were 70.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1e · Government grants (contributions)

$584,100
1f · All other contributions, gifts and grants

$457,093
2a · Program service revenue: CLASS FEES

total $634,195 · related or exempt $634,195
2b · Program service revenue: TICKET SALES

total $607,579 · related or exempt $607,579
2c · Program service revenue: TOURS/PERFORMANCES

total $2,135 · related or exempt $2,135
3 · Investment income

total $320,505 · excluded $320,505
6a · Gross rents

real property $26,201
6b · Less rental expenses

real property $0
6c · Rental income or loss

real property $26,201
6d · Net rental income or loss

total $26,201 · excluded $26,201
8a · Fundraising events: gross income

$28,796
8b · Fundraising events: direct expenses

$11,102
8c · Net income from fundraising events

total $17,694 · excluded $17,694
11a · Other revenue: OTHER INCOME

total $12,588 · related or exempt $12,588
11e · Other revenue, total

$12,588

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $334,683 · program services $244,036 · management and general $72,660 · fundraising $17,987
7 · Other salaries and wages

total $1,572,477 · program services $1,146,577 · management and general $341,388 · fundraising $84,512
9 · Other employee benefits

total $76,796 · program services $58,668 · management and general $7,127 · fundraising $11,001
10 · Payroll taxes

total $143,509 · program services $117,612 · management and general $17,748 · fundraising $8,149
11g · Fees: other

total $168,344 · program services $116,746 · management and general $51,413 · fundraising $185
12 · Advertising and promotion

total $124,554 · program services $121,967 · fundraising $2,587
13 · Office expenses

total $112,225 · program services $9,117 · management and general $103,108
16 · Occupancy

total $649,386 · program services $440,311 · management and general $209,075
17 · Travel

total $49,578 · program services $34,236 · management and general $15,342
22 · Depreciation, depletion and amortization

total $677,256 · program services $338,629 · management and general $338,627
24a · Other expenses: STAGE HANDS & TECHNICIA

total $199,076 · program services $199,076
24b · Other expenses: OTHER EXPENSES

total $165,622 · program services $139,203 · management and general $16,636 · fundraising $9,783
24c · Other expenses: OTHER PRODUCTION COSTS

total $90,737 · program services $90,737
24d · Other expenses: COSTUMES AND SETS

total $64,007 · program services $64,007
24e · All other expenses

total $7,802 · fundraising $7,802

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $427,431 · end of year $469,412
2 · Savings and temporary cash investments

beginning of year $42,548 · end of year $8,253
3 · Pledges and grants receivable

beginning of year $1,528,641 · end of year $421,111
9 · Prepaid expenses and deferred charges

beginning of year $59,218 · end of year $68,839
10a · Land, buildings and equipment: cost or other basis

$23,038,174
10b · Land, buildings and equipment: accumulated depreciation

$5,565,478
10c · Land, buildings and equipment, net

beginning of year $17,799,160 · end of year $17,472,696
12 · Investments: other securities

beginning of year $14,773,250 · end of year $15,275,485
15 · Other assets

beginning of year $0 · end of year $311,937
17 · Accounts payable and accrued expenses

beginning of year $90,678 · end of year $133,289
19 · Deferred revenue

beginning of year $89,145 · end of year $121,207
25 · Other liabilities

beginning of year $0 · end of year $315,350
27 · Net assets without donor restrictions

beginning of year $22,147,186 · end of year $21,163,630
28 · Net assets with donor restrictions

beginning of year $12,303,239 · end of year $12,294,257

Mission and programs · 2022

Mission

SEE SCHEDULE O

BALLET MEMPHIS IS A DIVERSE PROFESSIONAL BALLET COMPANY WITH 18 DANCERS FROM ACROSS THE COUNTRY AND AROUND THE GLOBE. IN THE 2022-23 SEASON, BALLET MEMPHIS STAGED 4 MAINSTAGE PRODUCTIONS WITH 16 PERFORMANCES. ADDITIONALLY, THE YOUTH BALLET MEMPHIS STAGED 2 PRODUCTIONS WITH 6 PERFORMANCES. OVER 19,000 INDIVIDUALS ENJOYED A BALLET MEMPHIS PERFORMANCE.

Expenses $2,323,508 · Revenue $607,579
THE BALLET MEMPHIS SCHOOL AND YOUTH BALLET MEMPHIS HAD AN ENROLLMENT OF 230 STUDENTS AGES 3 THROUGH 18 WHO PARTICIPATED IN CLASSICAL BALLET TRAINING. STUDENTS ARE PROVIDED INTRODUCTORY THROUGH ADVANCED TRAINING, INCLUDING POINT, MODERN DANCE, CHOREOGRAPHIC TECHNIQUE, AND BOYS' TECHNIQUE CLASS. BALLET MEMPHIS PROVIDES SCHOLARSHIP ASSISTANCE TO STUDENTS WITH DEMONSTRATED FINANCIAL NEED AND/OR EXCEPTIONAL ABILITY. OUR GOAL IS TO PROVIDE THE OPPORTUNITY FOR PROFESSIONAL DANCE TRAINING TO ANY STUDENT WHO DEMONSTRATES AN INTEREST AND IS WILLING TO MAKE THE COMMITMENT TO ATTEND REGULAR CLASSES. CLASSES ARE TAUGHT BY PROFESSIONAL DANCE INSTRUCTORS OR MEMBERS OF THE BALLET MEMPHIS COMPANY.

Expenses $425,258 · Revenue $308,623
THE BALLET MEMPHIS PILATES + WELLNESS PROGRAM OFFERS MAT AND EQUIPMENT CLASSES AT TWO LOCATIONS. BALLET MEMPHIS IS A LICENSED STOTT TRAINING AND CERTIFICATION CENTER AND HAS CERTIFIED MANY OF OUR OWN DANCERS AS INSTRUCTORS. PILATES INSTRUCTION HELPS TO SUPPLEMENT INCOME FOR DANCERS AND OFFER AN ALTERNATIVE CAREER PATH, AS WELL AS OFFERS EXCELLENT TRAINING TO KEEP DANCERS IN PRIME PHYSICAL CONDITION AND REDUCE THE RISK OF INJURY. CLIENTS OF ALL PHYSICAL ABILITIES FROM ACROSS THE REGION USE THE PILATES CENTER TO MAINTAIN PHYSICAL HEALTH, RECOVER FROM INJURY, INCREASE BALANCE AND CORE STRENGTH, AND IMPROVE ATHLETIC PERFORMANCE. THE PILATES CENTER SERVED OVER 8800 VISITS IN FY2023. ADDITIONALLY, BALLET MEMPHIS OFFERS ADULT CLASSES IN BALLET AND TAP FOR FUN AND FITNESS.

Expenses $372,156 · Revenue $325,572

As filed on the 2022 return.

Listed in Part VII

SHELLEY SHANAMAN

CHAIR

Total calculated

$0

Hours/week

0
DR NEHALI PATEL

SECRETARY

Total calculated

$0

Hours/week

0
MAGGIE LOVELL

TREASURER

Total calculated

$0

Hours/week

0
ANDREA BIENSTOCK

BOARD MEMBER

Total calculated

$0

Hours/week

0
JOAN SCHADT BIDDLE

BOARD MEMBER

Total calculated

$0

Hours/week

0
ERIC CLAUSON

BOARD MEMBER

Total calculated

$0

Hours/week

0
LEEANNE COX

BOARD MEMBER

Total calculated

$0

Hours/week

0
NEIL GIBSON

BOARD MEMBER

Total calculated

$0

Hours/week

0
BRETT GRINDER

BOARD MEMBER

Total calculated

$0

Hours/week

0
HON RUTHIE HAGAN

BOARD MEMBER

Total calculated

$0

Hours/week

0
MONICA C JONES

BOARD MEMBER

Total calculated

$0

Hours/week

0
FAITH KAYE

BOARD MEMBER

Total calculated

$0

Hours/week

0
SUE LAYMAN LIGHTMAN

BOARD MEMBER

Total calculated

$0

Hours/week

0
ERIC MATHEWS

BOARD MEMBER

Total calculated

$0

Hours/week

0
JESSICA WEBB

BOARD MEMBER

Total calculated

$0

Hours/week

0
CAROL G MIRAGLIA

CHIEF ADMINISTRATIVE OFFIC

Total calculated

$134,588

From this org

$134,492

From related orgs

$0

Other

$96

Hours/week

40
GRETCHEN WOLLERT MCLENNON

PRESIDENT & CEO

Total calculated

$200,096

From this org

$200,000

From related orgs

$0

Other

$96

Hours/week

40

Schedule J breakdown matched by us

Base

$200,000

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$96

Filer's total

$200,096

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

3 · Written employment contract
3 · Approval by the board or compensation committee

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3: THE BOARD REVIEWS THE CEO AND OFFICER LEVEL COMPENSATION ANNUALLY.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2022
Filed: 15 January 2024
IRS schema version: 2022v5.0
Source object: 202420399349300027

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