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Heritage Dance Foundation INC

Tax-deductible

Goldsboro, NC501(c)(3)Arts & CultureEIN 58-2001459Revenue $40K in FY2023

On file with the IRSballroom.org303 Tonya Dr, 27534-9120 · Goldsboro, NCTax-exempt since Jul 1992Publicly supported charity — 170(b)(1)(A)(vi)

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To promote the education of competitive ballroom dancing.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 4
filings with a surplus
Average deficit $140K a year · 1152% of revenue · last 4 filings
Concern: a surplus in 0 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 8 voting members
Concern: none of 8 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$40K
-54% vs prior year
Spent
$104K
To programs
77%
Net assets
$200K
By yearFY2020–FY2023
Revenue
$40K
FY2023▼ -54%
Tap a bar for its year
Revenue by fiscal year
FY2020$67K
FY2021−$145K
FY2022$86K
FY2023$40K
Expenses
$104K
FY2023▼ -48%
Tap a bar for its year
Expenses by fiscal year
FY2020$122K
FY2021$183K
FY2022$201K
FY2023$104K
Net assets
$200K
FY2023▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$707K
FY2021$379K
FY2022$264K
FY2023$200K

From the FY2023 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in Jul 1992.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $80K Management & general 23% · $24K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Melissa Zwerling
Vice Chairman
$0Pt VII · Sec A
Patti Troy
Artistic Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
William Hooper
Board Member
$0Pt VII · Sec A
Susan Nobers
Board Member
$0Pt VII · Sec A
Sadie Futrell
Board Member
$0Pt VII · Sec A
See Heritage Dance Foundation 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 education in competitive ballroom dancing.

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Provided by the organization

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1 program · $80K · in their own filed words · FY2023
01

For 2023, the organization was able to provide lessons to approximately 30 students and held two events, as well as received support of approximately 20 volunteers.

$80Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Fidelity Investments Charitable Gift FundFY2023$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 1 grant · $30K · 2023–2023
Unitemized GrantFY2023$30,500

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$40K
Ln 12
Gifts and grantsLn 1h$32K
Fees for servicesLn 2g$8K
Money outPt IX
$104K
Ln 25
Programscol B$80K
Managementcol C$24K
Owns and owesPt X
$200K
net assets · Ln 32
Cash and savingsLn 1–2$18K
Total assetsLn 16$200K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$32K
Fees for servicesLn 2g$8K
Total revenueLn 12$40K
Assets in detailPt X, end of year
CashLn 1$18K
Cash and savings togetherLn 1–2$18K
Land, buildings, equipmentLn 10c$182K
Total assetsLn 16$200K
LiabilitiesLn 26$0
Net assetsLn 32$200K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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 FY23End FY23
Cash and savingsLn 1–2$72K$18K
Land, buildings, equipmentLn 10c$192K$182K
Total assetsLn 16$264K$200K
LiabilitiesLn 26$0$0
Net assetsLn 32$264K$200K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$32K$32K
Accounting feesLn 11c$2K$2K
Office expensesLn 13$845$845
OccupancyLn 16$10K$5K$5K
TravelLn 17$2K$2K
Depreciation, depletion and amortizationLn 22$10K$5K$5K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$32K$21K$11K
All other expensesLn 24e$5K$5K$96
Total functional expensesLn 25$104K$80K$24K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $40K$104K−$64K$200K 990 PDF
FY2022 $86K$201K−$115K$264K 990 PDF
FY2021 −$145K$183K−$328K$379K 990 PDF
FY2020 $67K$122K−$54K$707K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $40,021 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $79,225$32,500
I-9 Program service revenuePrior year $7,004$7,521
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $86,229$40,021
I-13 Grants and similar amounts paidPrior year $0$32,500
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $201,062$71,418
I-18 Total expensesPrior year $201,062$103,918
I-19 Revenue less expensesPrior year −$114,833−$63,897
Part VI · Governance 0 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
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 $40,021 across 4 lines filed
VIII-1f All other contributions, gifts and grants$32,500
VIII-1h Total contributions, gifts and grants$32,500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,521$7,521
VIII-12 Total revenueRelated to mission $7,521 · Unrelated business $0 · Excluded from tax $0$40,021
Part IX · Statement of functional expenses $103,918 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $32,500$32,500
IX-11c Accounting feesManagement $1,700$1,700
IX-13 Office expensesManagement $845$845
IX-16 OccupancyPrograms $4,968 · Management $4,864$9,832
IX-17 TravelPrograms $1,868$1,868
IX-22 Depreciation, depletion and amortizationPrograms $5,075 · Management $5,075$10,150
IX-23 InsurancePrograms $9,760$9,760
IX-24 Other expenses (24a–d)Programs $20,614 · Management $11,229$31,843
IX-24e All other expensesPrograms $5,324 · Management $96$5,420
IX-25 Total functional expensesPrograms $80,109 · Management $23,809 · Fundraising $0$103,918
Part X · Balance sheet $200,119 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $72,170$18,421
X-10c Land, buildings and equipment, netStart of year $191,846$181,698
X-16 Total assetsStart of year $264,016$200,119
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $264,016$200,119
X-32 Total net assets or fund balancesStart of year $264,016$200,119
X-33 Total liabilities and net assetsStart of year $264,016$200,119
Part XI · Reconciliation of net assets $200,119 net assets at year end
XI-1 Total revenue$40,021
XI-2 Total expenses$103,918
XI-3 Revenue less expenses−$63,897
XI-4 Net assets at start of year$264,016
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$200,119

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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