Heritage Dance Foundation INC EIN 58-2001459

Heritage Dance Foundation INC

EIN  58-2001459 Public charity (501(c)(3)) Goldsboro, NC
Form 990 (PDF) Compare with another nonprofit →
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Size
<$100K
What they do
Promotes education in competitive ballroom dancing.
Leadership
Charles Zwerling · Chairman
Money in and out
$40K revenue, $104K expenses
Bottom line
77% program efficiency

Promotes education in competitive ballroom dancing. For fiscal year 2023 it reported $40K in revenue, $104K in expenses, and $200K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$40K
Pt VIII · Ln 12
Total expenses
$104K
Pt IX · Ln 25
Net assets
$200K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$64K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.23
Program efficiency
77%
of spending reaches programs▼ -1% vs prior filing year
Operating runway
2.1mo
months of highly liquid reserves at operating expense rate▼ -51% vs prior filing year
Surplus margin
-160%
revenue over expenses, this year▼ -20% vs prior filing year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$40K
FY2023▼ -54%
Expenses
$104K
FY2023▼ -48%
Total assets
$200K
FY2023▼ -24%
Total liabilities
$0
FY2023
Total revenue
$40K
Pt VIII · Ln 12
Total expenses
$104K
Pt IX · Ln 25
Net assets
$200K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$64K
Total assetsPt X · Ln 16$200K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 4pending
Mission & Programs · Part III

Where the work happens

1 program service account for $80K of program spending, described in the organization's 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

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHeritage Dance Foundation INC
EINHdr · item D58-2001459
Principal addressHdr · item CGoldsboro, NC
WebsiteHdr · item Jwww.ballroom.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A62)
Ruling yearIRS BMFJul 1992

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice Chairman
$0Pt VII · Sec A
Artistic Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$32K · 81%
Program service revenue$8K · 19%
Contributions & grants81%$32K
Program service revenue19%$8K
Total revenueLn 12$40K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.23
Program services77%$80K
Management & general23%$24K
Total functional expensesLn 25$104K

Balance Sheet

Part X · end of year
CashLn 1$18K
Total assetsLn 16$200K
Total liabilitiesLn 26$0
Total net assetsLn 32$200K
Months of cash on handcomputed2.1

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $18K · Operating expenses/yr $104K
2.1 months
Where the money goes
Program services
Program services $80K · Total expenses $104K
77%
Management & General
Management & general $24K · Total expenses $104K
23%
Fundraising
Fundraising $0 · Total expenses $104K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $64K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $32K · Total revenue $40K
81%
Government reliance
Government grants — · Total revenue $40K
Earned-income share
Program service revenue $8K · Total revenue $40K
19%
Investment reliance
Investment income $0 · Total revenue $40K
0%
Program self-sufficiency
Program service revenue $8K · Total expenses $104K
7%
Growth & trend
Revenue growth (YoY)
This year $40K · Prior year $86K
-54%
Net-asset trend (YoY)
End of year $200K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $40K · Expenses $104K
-160%
Liabilities-to-Assets
Total liabilities — · Total assets $200K
Net-asset ratio
Net assets $200K · Total assets $200K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $200K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Charles Zwerling · Reported title CHAIRMAN · Highest reported compensation $0 · Total expenses $104K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $104K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%
Overhead ratio 23%
Fundraising cost ratio 0%
Revenue growth -54%
Accounting fee ratio 2%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2023 (Latest)$40K revenue · viewing · ⤓ 990 PDF
FY2022$86K revenue · ⤓ 990 PDF
FY2021$-145K revenue · ⤓ 990 PDF
FY2020$67K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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