Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $134,415

• 1e · Government grants (contributions)

  $1,190,700

• 1f · All other contributions, gifts and grants

  $3,925,139

• 1g · Noncash contributions included above

  $1,045,528

• 2a · Program service revenue: PERFORMANCE TICKET

  total $2,720,606 · related or exempt $2,720,606

• 2b · Program service revenue: SCHOOL TUITION

  total $1,769,171 · related or exempt $1,769,171

• 2c · Program service revenue: COSTUMES & SET INCOME

  total $419,262 · related or exempt $419,262

• 2d · Program service revenue: PROGRAM ADVERTISING

  total $16,844 · unrelated business $16,844

• 2e · Program service revenue: BALLET COMPANY TOURING INCOME

  total $16,356 · related or exempt $16,356

• 3 · Investment income

  total $474,729 · excluded $474,729

• 7a · Gross sales of assets other than inventory

  securities $8,990,904

• 7b · Less cost or other basis and sales expenses

  securities $9,390,197

• 7c · Gain or loss

  securities -$399,293

• 7d · Net gain or loss

  total -$399,293 · excluded -$399,293

• 8a · Fundraising events: gross income

  $366,770

• 8a · Fundraising events: contributions included on line 1c

  $134,415

• 8b · Fundraising events: direct expenses

  $205,107

• 8c · Net income from fundraising events

  total $161,663 · excluded $161,663

• 10a · Gross sales of inventory

  $115,539

• 10b · Cost of goods sold

  $73,449

• 10c · Net income from sales of inventory

  total $42,090 · unrelated business -$8,875 · excluded $50,965

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $560,321 · program services $560,321

• 5 · Compensation of officers, directors and key employees

  total $674,248 · program services $368,975 · management and general $305,273

• 7 · Other salaries and wages

  total $3,174,904 · program services $2,595,688 · management and general $228,643 · fundraising $350,573

• 8 · Pension plan contributions

  total $113,829 · program services $97,471 · management and general $6,428 · fundraising $9,930

• 9 · Other employee benefits

  total $285,019 · program services $239,483 · management and general $21,389 · fundraising $24,147

• 10 · Payroll taxes

  total $402,479 · program services $324,304 · management and general $36,103 · fundraising $42,072

• 11b · Fees: legal

  total $5,434 · program services $4,400 · management and general $630 · fundraising $404

• 11c · Fees: accounting

  total $111,719 · management and general $111,719

• 11d · Fees: lobbying

  total $14,067 · fundraising $14,067

• 11f · Fees: investment management

  total $72,424 · management and general $72,424

• 11g · Fees: other

  total $22,951 · program services $18,585 · management and general $2,659 · fundraising $1,707

• 12 · Advertising and promotion

  total $558,269 · program services $538,543 · management and general $19,726

• 13 · Office expenses

  total $51,492 · program services $34,401 · management and general $10,408 · fundraising $6,683

• 14 · Information technology

  total $135,299 · program services $90,391 · management and general $27,348 · fundraising $17,560

• 16 · Occupancy

  total $246,639 · program services $218,827 · management and general $15,377 · fundraising $12,435

• 17 · Travel

  total $18,241 · program services $12,187 · management and general $3,687 · fundraising $2,367

• 19 · Conferences, conventions and meetings

  total $5,733 · program services $323 · management and general $5,348 · fundraising $62

• 20 · Interest

  total $3,821 · program services $3,094 · management and general $443 · fundraising $284

• 22 · Depreciation, depletion and amortization

  total $799,114 · program services $759,159 · management and general $23,973 · fundraising $15,982

• 23 · Insurance

  total $77,937 · program services $63,110 · management and general $9,029 · fundraising $5,798

• 24a · Other expenses: DIRECT PRODUCTION

  total $2,712,510 · program services $2,712,510

• 24b · Other expenses: SCHOOL EXPENSE

  total $1,450,531 · program services $1,450,531

• 24c · Other expenses: ARTS EDUCATION

  total $460,365 · program services $460,365

• 24d · Other expenses: GENERAL PRODUCTION

  total $415,155 · program services $415,155

• 24e · All other expenses

  total $517,119 · program services $314,032 · management and general $24,827 · fundraising $178,260

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,522,456 · end of year $81,888

• 2 · Savings and temporary cash investments

  beginning of year $5,655,829 · end of year $4,070,505

• 3 · Pledges and grants receivable

  beginning of year $547,362 · end of year $902,027

• 4 · Accounts receivable

  beginning of year $126,490 · end of year $88,646

• 5 · Loans and receivables from officers and key people

  beginning of year $65

• 8 · Inventories for sale or use

  beginning of year $23,654 · end of year $22,897

• 9 · Prepaid expenses and deferred charges

  beginning of year $354,440 · end of year $366,694

• 10a · Land, buildings and equipment: cost or other basis

  $22,362,906

• 10b · Land, buildings and equipment: accumulated depreciation

  $13,589,642

• 10c · Land, buildings and equipment, net

  beginning of year $9,232,706 · end of year $8,773,264

• 11 · Investments: publicly traded securities

  beginning of year $11,196,914 · end of year $14,191,819

• 12 · Investments: other securities

  beginning of year $353,955 · end of year $368,765

• 15 · Other assets

  beginning of year $189,668 · end of year $582,981

• 17 · Accounts payable and accrued expenses

  beginning of year $564,300 · end of year $708,745

• 19 · Deferred revenue

  beginning of year $1,215,905 · end of year $1,363,089

• 23 · Secured mortgages and notes payable

  beginning of year $981,656 · end of year $1,502,925

• 25 · Other liabilities

  beginning of year $0 · end of year $442,032

• 27 · Net assets without donor restrictions

  beginning of year $5,593,798 · end of year $4,830,509

• 28 · Net assets with donor restrictions

  beginning of year $20,847,880 · end of year $20,602,186

The filer's explanations (Part III)

PART I, LINE 1A

IN ORDER THAT THE EXECUTIVE DIRECTOR MAY ENTERTAIN POTENTIAL DONORS AND OTHER BUSINESS ASSOCIATES OF THE PITTSBURGH BALLET THREATRE, INC., THE BALLET REIMBURSED 50% OF THE INITIATION FEE AND REIMBURSES 100% OF THE QUARTERLY DUES FOR MEMBERSHIP AT THE DUQUESNE CLUB FOR THE EXECUTIVE DIRECTOR. IN ADDITION, SUBSTANTIATED MEALS ARE REIMBURSED IN ACCORDANCE WITH THE ACCOUNTABLE PLAN. ALL PERSONAL CHARGES ARE THE EXECUTIVE DIRECTOR'S RESPONSIBILITY.

PART I, LINE 3

THE ORGANIZATION'S EXECUTIVE COMMITTEE SERVES AS THE ORGANIZATION'S COMPENSATION COMMITTEE. DURING A CLOSED EXECUTIVE SESSION, THE CHAIR OF THE BOARD PRESENTS THEIR ANALYSIS OF COMPARABLE COMPENSATION FOR THE ORGANIZATION'S EXECUTIVE DIRECTOR AND TOP MANAGEMENT. THE EXECUTIVE COMMITTEE APPROVES THE COMPENSATION AND CONTRACTS ARE DRAFTED AND SIGNED THAT REFLECT THE COMPENSATION CHANGES.

PART I, LINE 4A

PITTSBURGH BALLET THEATRE, INC. MADE SEVERANCE PAYMENTS TO THE FORMER EXECUTIVE DIRECTOR IN FY23. THE PAYMENT IS REPORTED IN COLUMN (B)(III).