Velocity Dance Center

Seattle, WA · Public charity (501(c)(3)) · Arts & Culture

✓ Tax-deductible
Revenue
$928K
+35% vs prior year
Spent
$957K
To programs
91%
Net assets
$441K
By yearFY2020–FY2024
Revenue
$928K
FY2024▲ +35%
Revenue by fiscal year
FY2020$345K
FY2021$507K
FY2022$621K
FY2023$686K
FY2024$928K
Expenses
$957K
FY2024▲ +46%
Expenses by fiscal year
FY2020$483K
FY2021$236K
FY2022$413K
FY2023$655K
FY2024$957K
Net assets
$441K
FY2024▼ -6%
Net assets by fiscal year
FY2020−$41K
FY2021$231K
FY2022$438K
FY2023$470K
FY2024$441K

From the FY2024 Form 990 · see the original

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CVelocity Dance Center
EINHdr · item D91-2030037
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFAug 2000
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CSeattle, WA
NTEE classificationIRS BMFArts & Culture (A6E)
WebsiteHdr · item Jwww.velocitydancecenter.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.05 Fundraising $0.03
Program services91%$873K
Management & general5%$51K
Fundraising3%$33K
Total functional expensesLn 25$957K

Financial health

Is it on solid ground?

Program efficiency
91%
of spending reaches programs▲ +6% vs prior filing year
Operating runway
5.6mo
months of highly liquid reserves at operating expense rate▼ -32% vs prior filing year
Surplus margin
-3%
revenue over expenses, this year▼ -168% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$445K
FY2024▼ -6%
Total assets by fiscal year
FY2020$31K
FY2021$264K
FY2022$444K
FY2023$472K
FY2024$445K
Total liabilities
$4K
FY2024▲ +46%
Total liabilities by fiscal year
FY2020$71K
FY2021$34K
FY2022$6K
FY2023$3K
FY2024$4K
Revenue less expensesPt I · Ln 19−$29K
Total assetsPt X · Ln 16$445K
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 35
Independent voting membersPt I · Ln 45

Balance Sheet

Part X · end of year
CashLn 1$439K
Total assetsLn 16$445K
Total liabilitiesLn 26$4K
Total net assetsLn 32$441K
Months of cash on handcomputed5.5

Statement of Revenue

Part VIII
Contributions & grants$764K · 82%
Program service revenue$144K · 16%
Investment income$10K · 1%
Other revenue$11K · 1%
Contributions & grants82%$764K
Program service revenue16%$144K
Investment income1%$10K
Other revenue1%$11K
— government grantsLn 1e$169K
Total revenueLn 12$928K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $439K · Operating expenses (Pt IX) $957K · Less non-cash grants $21K · Cash operating expenses/yr $936K
5.6 months
Where the money goes
Program services
Program services $873K · Total expenses $957K
91%
Management & General
Management & general $51K · Total expenses $957K
5%
Fundraising
Fundraising $33K · Total expenses $957K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $31K · Solicited contributions (3-yr avg) $423K
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $764K · Total revenue $928K
82%
Government reliance
Government grants $169K · Total revenue $928K
18%
Earned-income share
Program service revenue $144K · Total revenue $928K
16%
Investment reliance
Investment income $10K · Total revenue $928K
+1%
Program self-sufficiency
Program service revenue $144K · Total expenses $957K
15%
Growth & trend
Revenue growth (YoY)
This year $928K · Prior year $686K
+35%
Revenue CAGR
FY2020 $345K · FY2024 $928K
+28%
Net-asset trend (YoY)
End of year $441K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $928K · Expenses $957K
-3%
Liabilities-to-Assets
Total liabilities — · Total assets $445K
—
Net-asset ratio
Net assets $441K · Total assets $445K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $445K
0%
People & payroll
Highest Reported Total Compensation
Individual Erin O'Reilly · Reported title Executive Dir. · Highest reported compensation $60K · Total expenses $957K
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $247K · Total expenses $957K
26%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 91%——
Overhead ratio 5%——
Fundraising cost ratio 4%——
Revenue growth 35%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 2%——
Fundraising fee ratio 0%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$60,278Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Erin O'Reilly’s $60K as Executive Dir. is at the 55th percentile of top reported officer pay among 2216 $100K–1M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Erin O'Reilly$60,278————
Erin O'Reilly—$55,502———
Erin Johnson——$39,352——
Erin Johnson———$19,159$26,752
Fox Whitney———$25,014—
Catherine Nueva Espana————$24,834

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 Velocity Dance Center executive salaries →

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Governance & Policies

Part VI
  • 5Voting board membersPt VI · Ln 1a
  • 5Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13No
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Showcases and supports contemporary dance and performance art.

Provided by the organization

This section is blank until Velocity Dance Center claims this page.

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Mission & Programs · Part III

Where the work happens

3 program services account for $812K of program spending, described in the organization's own filed words · FY2024.
01

Residency Programs

Velocity's Residency programs supported over 240 artists through a series of five graduating platforms that provide funding, space, mentorship, administrative and production support to artists at different stages in their careers.

$498Kprogram expense
02

Other Program Services

Fiscal Sponsorship

$169Kprogram expense
03

Education

Velocity's Education Programs include workshops, classes and the Seattle Festival of Dance + Improvisation. These programs serve adult and youth participants, with dance and choreography training for beginning through professional level dancers.

$145Kprogram expense

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Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
See all 9 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $928K$957K+35% 990 PDF
FY2023 $686K$655K+10% 990 PDF
FY2022 $621K$413K+22% 990 PDF
FY2021 $507K$236K+47% 990 PDF
FY2020 $345K$483K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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