American Dance Festival Inc
- Assets
- $14.2m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 36
- Location
- Durham, NC
- Founding
- 03/1976
- Data as of
- 09/2023
- EIN
- 06-0932294
Organization Overview
American Dance Festival Inc is located in Durham, NC. The organization was established in 1976. According to its NTEE Classification (A62) the organization is classified as: Dance, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, American Dance Festival Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Dance Festival Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, American Dance Festival Inc generated $4.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $3.6m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE AND SUPPORT THE CREATION OF NEW MODERN DANCE WORK.
Describe the Organization's Program Activity:
TO ENCOURAGE AND SUPPORT THE CREATION OF NEW MODERN DANCE WORK BY BOTH ESTABLISHED AND EMERGING CHOREOGRAPHERS; TO PRESERVE OUR MODERN DANCE HERITAGE THROUGH CONTINUED PRESENTATION OF CLASSIC WORKS, AS WELL AS THROUGH ARCHIVAL EFFORTS; AND TO BUILD WIDER NATIONAL AND INTERNATIONAL AUDIENCES FOR MODERN DANCE.
TO PROVIDE A SOUND SCIENTIFIC AND AESTHETIC BASE FOR PROFESSIONAL EDUCATION AND TRAINING OF DANCERS AND A FORUM FOR INTEGRATING AND DISSEMINATING INFORMATION OF DANCE EDUCATION.
TO ENHANCE PUBLIC UNDERSTANDING AND APPRECIATION OF THE ART FORM AND ITS CULTURAL AND HISTORICAL SIGNIFICANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bernard E Bell Board Member | Trustee | 1 | $0 |
Natalie W Dunn Board Member | Trustee | 1 | $0 |
Richard E Feldman Board Member | Trustee | 1 | $0 |
James Frazier Board Member | Trustee | 1 | $0 |
Susan Hall Board Member | Trustee | 1 | $0 |
Diane Linfors Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $17,000 |
| Related organizations | $0 |
| Government grants | $334,677 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,230,710 |
| Noncash contributions included in lines 1a–1f | $28,571 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,582,387 |
| Total Program Service Revenue | $1,051,465 |
| Investment income | $311,444 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,413,234 |
| Net Income from Fundraising Events | $755 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$4,929 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,390,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $73,146 |
| Grants and other assistance to domestic individuals. | $146,705 |
| Grants and other assistance to Foreign Orgs/Individuals | $12,570 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $236,149 |
| Compensation of current officers, directors, key employees. | $35,781 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $767,894 |
| Pension plan accruals and contributions | $12,223 |
| Other employee benefits | $94,212 |
| Payroll taxes | $70,109 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $121,398 |
| Fees for services: Other | $91,844 |
| Advertising and promotion | $88,270 |
| Office expenses | $43,123 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,971 |
| Travel | $196,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $38,631 |
| Insurance | $29,916 |
| All other expenses | $82,888 |
| Total functional expenses | $3,570,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,204,902 |
| Savings and temporary cash investments | $3,944,948 |
| Pledges and grants receivable | $629,586 |
| Accounts receivable, net | $106,555 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,103 |
| Prepaid expenses and deferred charges | $5,731 |
| Net Land, buildings, and equipment | $907,382 |
| Investments—publicly traded securities | $7,404,911 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,245,118 |
| Accounts payable and accrued expenses | $286,812 |
| Grants payable | $0 |
| Deferred revenue | $15,990 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $302,802 |
| Net assets without donor restrictions | $2,586,538 |
| Net assets with donor restrictions | $11,355,778 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $14,245,118 |