Tapestry Folkdance Center
- Assets
- $570.7k
- Revenue
- $317.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Minneapolis, MN
- Founding
- 12/1983
- Data as of
- 06/2024
- EIN
- 41-1459618
Organization Overview
Tapestry Folkdance Center is located in Minneapolis, MN. The organization was established in 1983. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Tapestry Folkdance Center employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tapestry Folkdance Center 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 06/2024, Tapestry Folkdance Center generated $317.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $267.6k during the year ending 06/2024. While expenses have increased by 0.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TAPESTRY FOLKDANCE CENTER'S MISSION IS "TO CREATE OPPORTUNITIES FOR PARTICIPATING IN THE JOYS OF DANCE AND MUSIC FROM AROUND THE WORLD."
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LARGEST PROGRAM AT TAPESTRY FOLKDANCE CENTER (TAPESTRY) IS WEEKLY DANCES. TAPESTRY HOSTS WEEKLY DANCES IN A VARIETY OF STYLES, INCLUDING CONTRA, INTERNATIONAL, ENGLISH COUNTY, AND BALLROOM. IN THIS FISCAL YEAR, TAPESTRY HOSTED OVER 200 DANCES. ON A TYPICAL WEEKEND, 100-200 PEOPLE PARTICIPATED IN WEEKLY DANCES. TAPESTRY ALSO HOSTED MONTHLY DANCES INCLUDING A DANCE FOR SENIORS. MOST DANCES INCLUDE INSTRUCTION.
TAPESTRY OWNS THE BUILDING AT 3748 MINNEHAHA AVENUE IN MINNEAPOLIS AND MAKES IT AVAILABLE FOR NON-AFFILIATED DANCE GROUPS. DURING THE YEAR, ROUGHLY TWO DOZEN DANCE ORGANIZATIONS RENT STUDIO SPACE TO TEACH A WIDE VARIETY OF DANCE FORMS.
IN ADDITION TO THE WEEKLY AND MONTHLY DANCES, TAPESTRY HOSTED ONE LARGE WEEKEND EVENT THAT DREW DANCERS FROM AROUND THE REGION AND THE NATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sherisa Oie Executive Director | Officer | 30 | $52,000 |
Hollie Benton Board President | OfficerTrustee | 6 | $0 |
Judine Pattinson Vice President | OfficerTrustee | 2 | $0 |
Susan Knutson Secretary | OfficerTrustee | 2 | $0 |
Kevin Geraghty Treasurer | OfficerTrustee | 2 | $0 |
Nancy Sather Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $18,944 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $91,204 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $110,148 |
| Total Program Service Revenue | $195,824 |
| Investment income | $1,439 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,800 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $317,726 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $44,318 |
| Compensation of current officers, directors, key employees. | $13,295 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $42,913 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,843 |
| Fees for services: Management | $638 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $787 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,943 |
| Advertising and promotion | $2,981 |
| Office expenses | $3,243 |
| Information technology | $4,139 |
| Royalties | $1,966 |
| Occupancy | $39,211 |
| Travel | $0 |
| 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 | $31,894 |
| Insurance | $8,370 |
| All other expenses | $0 |
| Total functional expenses | $267,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,007 |
| Savings and temporary cash investments | $102,583 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $160 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,497 |
| Net Land, buildings, and equipment | $236,475 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $570,722 |
| Accounts payable and accrued expenses | $21,719 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $21,719 |
| Net assets without donor restrictions | $549,003 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $570,722 |