New York City Ballet Inc
- Assets
- $352.1m
- Revenue
- $35.1m
- Investments
- $184.3m
- Employees
- 889
- Location
- New York, NY
- Founding
- 08/1978
- Data as of
- 06/2021
- EIN
- 13-2947386
Organization Overview
New York City Ballet Inc is located in New York, NY. The organization was established in 1978. According to its NTEE Classification (A63) the organization is classified as: Ballet, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, New York City Ballet Inc employed 889 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York City Ballet 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 06/2021, New York City Ballet Inc generated $35.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $40.6m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (9.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, New York City Ballet Inc has awarded 12 individual grants totaling $135,165. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PERFORM, PROMOTE AND SUSTAIN CLASSICAL BALLET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTIONS, PERFORMANCES, AND EDUCATION: SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Diane L Taylor Chairman | OfficerTrustee | 5 | $0 |
Jeffrey M Peek President | OfficerTrustee | 5 | $0 |
Alan Schnitzer Vice-Chair | OfficerTrustee | 3 | $0 |
Sarah Jessica Parker Vice-Chair | OfficerTrustee | 3 | $0 |
Barbara J Slifka Vice-Chair | OfficerTrustee | 3 | $0 |
Kristin Kennedy Clark Secretary | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Proskauer Rose Llp Legal | 6/29/22 | $813,818 |
Peter Martins Production Inc Choreographer, Etc. | 6/29/22 | $624,000 |
The George Balanchine Trust Royalties | 6/29/22 | $413,038 |
Elevation Health Health | 6/29/22 | $327,800 |
The Robbins Rights Trust Royalties | 6/29/22 | $265,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,124,600 |
| Investment income | $1,178,785 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77,542 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,047,194 |
| Net Income from Fundraising Events | -$16,224 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $35,122,869 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,701,617 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $15,984,395 |
| Pension plan accruals and contributions | $1,097,254 |
| Other employee benefits | $4,820,712 |
| Payroll taxes | $1,823,818 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $285,743 |
| Fees for services: Accounting | $111,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $4,835 |
| Fees for services: Investment Management | $710,780 |
| Fees for services: Other | $535,382 |
| Advertising and promotion | $784,082 |
| Office expenses | $436,267 |
| Information technology | $324,601 |
| Royalties | $416,994 |
| Occupancy | $4,326,906 |
| Travel | $44,753 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $131 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,722,882 |
| Insurance | $1,005,189 |
| All other expenses | $0 |
| Total functional expenses | $40,566,455 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,420,569 |
| Savings and temporary cash investments | $35,689,877 |
| Pledges and grants receivable | $6,030,761 |
| Accounts receivable, net | $646,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $990,818 |
| Prepaid expenses and deferred charges | $1,034,481 |
| Investments—publicly traded securities | $55,431,061 |
| Investments—other securities | $184,335,661 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $352,054,118 |
| Accounts payable and accrued expenses | $9,409,509 |
| Grants payable | $0 |
| Deferred revenue | $5,821,041 |
| 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 | $10,972,892 |
| Total liabilities | $26,203,442 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $325,850,676 |
Grants Awarded
Over the last fiscal year, New York City Ballet Inc has awarded $27,433 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
WOMEN IN NEED INC | | | $12,500 |
BOSTON BALLET PURPOSE: NEW CHOREOGRAPHY | $6,961 |
EUGENE BALLET PURPOSE: NEW CHOREOGRAPHY | $7,972 |