Ballet Theatre of Carmel Academy LTD

Nonprofit profile at a glance

EIN
830748923
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020, Form 990-N 2017
Location
Indianapolis, IN, USA
Phone
3173707993
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Reported finances

Revenue
$406,064
Expenses
$387,749
Assets
$75,330
Liabilities
$41,049

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • KARA STEPHENSON (INTERIM PRESIDENT)
  • CHRISTOPHER OLER (PRESIDENT)

Highest reported compensation

  • JANE HACHIYA-WEINER (ARTISTIC DIRECTOR): $26,744 total reported compensation
  • FRANK WEINER (ASSOCIATE ARTISTIC DIRECTOR): $18,397 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ballet theatre of carmel academy is dedicated to developing dancers to their fullest potential. We believe that through encouragement discipline and dedication our professional instructors can nurture dancers to a higher degree of achievement confidence and self-esteem.we strive to give young dancing artists the tools necessary to succeed in the collegiate and professional market both nationally and internationally.by gods grace we strive to build beautiful dancers and wholesome human beings. We also desire to further enrich the cultural life of central Indiana and the surrounding areas by producing quality performances and events for the community.

What it reported doing in 2024

Dance programs: mybs primary objective is to provide boys and girls ages 3-18 with high-quality dance education based on the american ballet theatre national training curriculum in a nurturing and supportive environment. In this fiscal year myb had a total enrollment of 178 students in levels preschool through 6b. 30 weekly classes were offered in ballet technique pre-pointe pointe variations partnering contemporary and jazz 58hrs wk available instruction. 6 students enrolled in the day intensive program received 12hrs wk of training in the above disciplines including improvisation. 22 students enrolled in the the soloist initiative program received 1-4hrs wk of individual variations training. 94 students participated in btcas student showcase. Summer programs included a 2 week senior intensive 50hrs instruction attended by 26 level 2b-6b students; a 2 week junior intensive 24hrs instruction attended by 16 primary a - 2a students; 4 summer camps 48hrs instruction attended by 44 students; and 22hrs of open classes attended by 26 students.

Operating model

Revenue model
Other-operating. 84% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 67
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 92.8%; rating input score 93
  • Program expense ratio: 97%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 24th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.5%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.19; rating input score 11; 11th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 11.6%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 34.2% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 17.9% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 10.7% per year; rating input score 100; 68th percentile among comparable filings

Details

  • Where the money goes: 92.8% of revenue deployed · 97% of spending went to programs
  • Governance: 7 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $376K in reported program spending
  • Leadership: top reported pay $27K · 10 people listed
  • Consistency: 43 of 43 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 11/100.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.