Grand Rapids Ballet

Nonprofit profile at a glance

EIN
382026127
IRS 990 coverage
2009–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Grand Rapids, MI, USA
Phone
6164544771
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities

Official website

Reported finances

Revenue
$4,762,726
Expenses
$4,001,835
Assets
$7,334,949
Liabilities
$2,021,954

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JAMIE SLOTSEMA (PRESIDENT)

Highest reported compensation

  • JAMES SOFRANKO (ARTISTIC DIR): $114,846 total reported compensation
  • GLENN DEL VECCHIO (EXECUTIVE DI): $76,870 total reported compensation
  • MARY JENNINGS (EXECUTIVE DI): $59,231 total reported compensation

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

Overview

Mission

To lift the human spirit through the art of dance by providing: exceptional and diverse programming; high quality dance education; outreach to inspire and enrich the community; family-friendly programming including newly commissioned works; and a sound financial condition.

What it reported doing in 2024

To present major ballet productions each season in grand rapids and tour smaller versions of the shows throughout the state of Michigan to provide an opportunity for audiences in smaller communities to experience the art of dance.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 99% 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. Fundraising costs are high for each dollar raised and assets have declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 61
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 71.4%; rating input score 71
  • Program expense ratio: 79.7%; rating input score 80
  • Fundraising efficiency: $12.6 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.28; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 6.3%; rating input score 45; 45th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 30th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -1.4% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 71.4% of revenue deployed · 79.7% of spending went to programs
  • Governance: 13 of 13 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $3.2M in reported program spending
  • Leadership: top reported pay $115K · 17 people listed
  • Consistency: 36 of 36 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.
  • Moderate — Sustainability: Officer compensation ratio scored 45/100.