Ballet Florida INC FY2020 filing

IRS exemption revoked

West Palm Beach, FLUnknown exempt organizationEIN 38-3941176Revenue $106K in FY2020

On file with the IRSballetflorida.org314 South Olive Avenue · West Palm Beach, FL

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To support dance creation, education, and preservation through the highest quality performances and educational prgramming and to reach the widest possible audience to deepen the public appreciation of dance as an art form

71¢ of each $1 spent went to programs.
$32K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $100K a year · 57% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$32K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$124K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 2 voting members
Concern: none of 2 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$106K
+46% vs prior year
Spent
$229K
To programs
71%
Net assets
$2.5M
By yearFY2019–FY2021
Revenue
$106K
FY2020▲ +46%
Tap a bar for its year
Revenue by fiscal year
FY2019$73K
FY2020$106K
FY2021$345K
Expenses
$229K
FY2020▼ -39%
Tap a bar for its year
Expenses by fiscal year
FY2019$375K
FY2020$229K
FY2021$219K
Net assets
$2.5M
FY2020▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2019$2.6M
FY2020$2.5M
FY2021$2.6M

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on May 15, 2024
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $162K Management & general 28% · $65K Fundraising 1% · $2K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

2 people listed on the 990; $32K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$16,800Pt VII · Sec A
Vice Preside
$15,200Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2021FY2020FY2019
Lauren Carey$23,000$16,800$45,600
Guy Palmer——$36,000
Lyndsey Carey$18,550$15,200—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ballet Florida INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes dance creation, education, and preservation through performances and programs.

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Provided by the organization

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1 program · $162K · in their own filed words · FY2020
01

Ballet dance program with instruction

$162Kprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$106K
Ln 12
Fees for servicesLn 2g$63K
Investment incomeLn 3$29K
Gifts and grantsLn 1h$14K
Money outPt IX
$229K
Ln 25
Programscol B$162K
Managementcol C$65K
Fundraisingcol D$2K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$2.6M
LiabilitiesLn 26$124K
PeoplePt VI, VII
2
listed · VII A
PaidVII A2
Voting boardVI 1a2
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$14K
Government grantsLn 1e$4K
Fees for servicesLn 2g$63K
Investment incomeLn 3$29K
Total revenueLn 12$106K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
InvestmentsLn 11–13$158K
Land, buildings, equipmentLn 10c$1.5M
Other assetsLn 15$919K
Total assetsLn 16$2.6M
LiabilitiesLn 26$124K
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$4K$7K
InvestmentsLn 11–13$438K$158K
Land, buildings, equipmentLn 10c$1.5M$1.5M
Total assetsLn 16$2.7M$2.6M
LiabilitiesLn 26$30K$124K
Net assetsLn 32$2.6M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$32K$23K$9K
Other salaries and wagesLn 7$17K$12K$5K
Payroll taxesLn 10$6K$4K$2K
Investment management feesLn 11f$5K$5K
Other fees for servicesLn 11g$12K$12K
Advertising and promotionLn 12$8K$7K$2K
Office expensesLn 13$9K$1K$7K
TravelLn 17$8K$8K
Depreciation, depletion and amortizationLn 22$10K$10K
InsuranceLn 23$879$352$527
Other expenses (24a–d)Ln 24$97K$91K$7K
All other expensesLn 24e$23K$13K$10K
Total functional expensesLn 25$229K$162K$65K$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $345K$219K$126K$2.6M 990 PDF
FY2020 Viewing $106K$229K−$123K$2.5M 990 PDF
FY2019 $73K$375K−$302K$2.6M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $105,830 revenue, 12 lines filed
I-8 Contributions and grants$13,875
I-9 Program service revenuePrior year $70,343$63,119
I-10 Investment incomePrior year $2,165$28,836
I-11 Other revenue$0
I-12 Total revenuePrior year $72,508$105,830
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $94,542$55,109
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $280,014$173,595
I-18 Total expensesPrior year $374,556$228,704
I-19 Revenue less expensesPrior year −$302,048−$122,874
Part VI · Governance 0 of 2 board members independent, 4 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $105,830 across 6 lines filed
VIII-1e Government grants$4,000
VIII-1f All other contributions, gifts and grants$9,875
VIII-1h Total contributions, gifts and grants$13,875
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $63,119$63,119
VIII-3 Investment incomeRelated to mission $28,836$28,836
VIII-12 Total revenueRelated to mission $91,955$105,830
Part IX · Statement of functional expenses $228,704 across 12 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $23,056 · Management $8,944$32,000
IX-7 Other salaries and wagesPrograms $12,495 · Management $4,845$17,340
IX-10 Payroll taxesPrograms $4,157 · Management $1,612$5,769
IX-11f Investment management feesManagement $4,927$4,927
IX-11g Other fees for servicesManagement $12,025$12,025
IX-12 Advertising and promotionPrograms $6,644 · Fundraising $1,557$8,201
IX-13 Office expensesPrograms $1,225 · Management $7,340$8,565
IX-17 TravelManagement $8,467$8,467
IX-22 Depreciation, depletion and amortizationPrograms $10,346$10,346
IX-23 InsurancePrograms $352 · Management $527$879
IX-24 Other expenses (24a–d)Programs $90,726 · Management $6,537$97,263
IX-24e All other expensesPrograms $13,210 · Management $9,712$22,922
IX-25 Total functional expensesPrograms $162,211 · Management $64,936 · Fundraising $1,557$228,704
Part X · Balance sheet $2,634,606 assets, 9 lines filed
Asset lines not itemized here account for $51,050; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,774$7,031
X-10c Land, buildings and equipment, netStart of year $1,510,488$1,500,142
X-11 Publicly traded securitiesStart of year $437,626$157,535
X-15 Other assetsStart of year $682,402$918,848
X-16 Total assetsStart of year $2,664,629$2,634,606
X-24 Unsecured notes and loans payableStart of year $8,912$124,323
X-26 Total liabilitiesStart of year $30,283$124,323
X-32 Total net assets or fund balancesStart of year $2,634,346$2,510,283
X-33 Total liabilities and net assetsStart of year $2,664,629$2,634,606
Part XI · Reconciliation of net assets $2,510,283 net assets at year end
XI-1 Total revenue$105,830
XI-2 Total expenses$228,704
XI-3 Revenue less expenses−$122,874
XI-4 Net assets at start of year$2,634,346
XI-9 Other changes in net assets−$1,189
XI-10 Net assets at end of year$2,510,283

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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