American Dance Institute Inc
- Assets
- $21.4m
- Revenue
- $11.0m
- Investments
- $2.5m
- Employees
- 28
- Location
- New York, NY
- Founding
- 08/1999
- Data as of
- 12/2021
- EIN
- 52-2158599
Organization Overview
American Dance Institute Inc, operating under the name Lumberyard, is located in New York, NY. The organization was established in 1999. According to its NTEE Classification (A6E) the organization is classified as: Performing Arts Schools, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Lumberyard employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lumberyard 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 12/2021, Lumberyard generated $11.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DANCE INSTRUCTION, ARTIST RESIDENCY SUPPORT, AND PUBLIC PERFORMANCES.
Describe the Organization's Program Activity:
PROMOTED PERFORMING AND FINE ARTS, GAVE PERFORMANCES FOR THE COMMUNITY AT LARGE AND PROVIDED DANCE INSTRUCTION TO CHILDREN AND ADULTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adrienne Willis Board Member/executive Dir | OfficerTrustee | 40 | $198,766 |
Alison Schwartz Chief Operating Officer | Officer | 40 | $158,750 |
Jason Forrester Director Of Business Devel | 40 | $111,500 | |
Ruth Moe Performance Series Directo | 40 | $107,958 | |
Jessica Mailloux Secretary/ Director | OfficerTrustee | 5 | $0 |
Kimball Stroud President / Director | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $405,558 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,240,613 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,646,171 |
| Total Program Service Revenue | $0 |
| Investment income | $174,003 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $161,240 |
| 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 | $11,008,562 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $32,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $360,217 |
| Compensation of current officers, directors, key employees. | $111,667 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $510,568 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,394 |
| Payroll taxes | $62,009 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,394 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $51,803 |
| Fees for services: Other | $105,985 |
| Advertising and promotion | $5,260 |
| Office expenses | $45,694 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,321 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $267,892 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $224,033 |
| Insurance | $87,319 |
| All other expenses | $397 |
| Total functional expenses | $2,084,578 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,065,189 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $52,958 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $5,120,233 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $14,221 |
| Net Land, buildings, and equipment | $8,517,420 |
| Investments—publicly traded securities | $2,169,579 |
| Investments—other securities | $2,489,895 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $12,893 |
| Total assets | $21,442,388 |
| Accounts payable and accrued expenses | $120,413 |
| Grants payable | $0 |
| Deferred revenue | $100,000 |
| 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 | $8,459,091 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $499,918 |
| Total liabilities | $9,179,422 |
| Net assets without donor restrictions | $12,148,466 |
| Net assets with donor restrictions | $114,500 |
| 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 | $21,442,388 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that American Dance Institute Inc has recieved totaling $172,150.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $50,250 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $50,250 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $50,250 |
The Grapes For Humanity Global Foundation Longboat Key, FL PURPOSE: YOUTH 16 AND UNDER PROGRAM AND PRISON PROGRAM | $10,000 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $5,700 |
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $5,700 |
Endowment Analysis
| Beg. Balance | $3,487,107 |
| Earnings | $237,262 |
| Admin Expense | $39,022 |
| Other Expense | $54,541 |
| Ending Balance | $3,630,806 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
School Of American Ballet Inc New York, NY | $111,037,435 | $21,205,372 |
Settlement Music School Of Philadelphia Philadelphia, PA | $34,802,698 | $14,057,233 |
Society Of The Third Street Music School Settlement Inc New York, NY | $23,512,540 | $9,331,737 |
Professional Childrens School Inc New York, NY | $20,795,903 | $7,913,959 |
Elaine Kaufman Cultural Center-Lucy Moses School For Music And Dance New York, NY | $27,086,297 | $8,434,600 |
Usdan Center For The Creative And Performing Arts Wheatley Heights, NY | $9,094,063 | $7,842,834 |
The Brooklyn Queens Conservatory Of Music Brooklyn, NY | $5,364,852 | $5,242,264 |
South Shore Conservatory Of Music Inc Hingham, MA | $8,426,542 | $4,813,797 |
Academy Of Vocal Arts Philadelphia, PA | $44,375,102 | $5,042,502 |
Neighborhood Music School Inc New Haven, CT | $8,041,622 | $5,408,099 |
Marlboro School Of Music Inc Philadelphia, PA | $99,638,142 | $11,583,017 |
Hoff Barthelson Music School Scarsdale, NY | $5,808,540 | $3,629,362 |