The Universal Ballet Foundation

What it reported doing in 2022

Final School YearDue to financial challenges, the Kirov Academy concluded its final school year in May of 2022. The care of our students was our highest priority during 2022. In spite of the challenges facing the Kirov Academy, the 2021-2022 academic year was one of our most successful and memorable.Student TransferGiven the UBF Board's decision to implement an orderly wind-down of the Academy, the school year's top priority was guiding students to find their next college, another school, or a professional career. To support this goal, the Universal Ballet Foundation Board allowed scholarships for ballet students to participate in various auditions and competitions. All ballet and Academic Only ("AO") students regularly communicated with their assigned staff or faculty members throughout the school year. Except for 2 students who decided to go back to their home countries, we successfuly transferred all ballet students to new schools or ballet companies including The Washington Ballet. We also placed over 70% of "academic only" students to their next schools before the end of school year; which is relatively an early placement for academic schools since the usual transferring process happens during summer.Ballet Department: Ballet students participated in several regional "young artist" competitions and won 1st, 2nd, and 3rd places in both classical and contemporary categories. Many of them were invited to the semi-final and final rounds and the group performances won 1st and 3rd places. At New York City YAGP competition, the Kirov faculty received Outstanding Faculty Award as well. Three ballet students went to the Helsinki International Ballet Competition, the most prestigious competitions in the ballet world. At the Spring Gala (May 26-28, 2022), the students successfully performed various classical and contemporary works.Music Department: The music program offered diverse performing opportunities such as a beneficiary concert with DC String Orchestra. The Academy conducted top-notch masterclasses with Antonio Pompa-Baldi, the winner of Van Cliburn International Piano Competition, and supported students entering the music colleges.Academic Department: Integrating Edgenuity into the Academic Program diversed the choice of classes students could choose from, and accommodated the unique situation of the Academy when all ballet students had to finish their Academic courses early for the end of semester performances whereas Academic Only students had to continue classes. With the implementation of two counselors, one for life skills and one for career development, students received balanced and tailored guidances on their professional and psychological growth.The Residence Life Department: The resident life department took care of resident students 24/7. Our kitchen staff created the menu to make sure that all our students received the food that they needed, and when students were sick we prepared special food and brought it to their rooms. We provided daily activities such as arts and crafts, table games, cooking classes, and hosted several parties for Valentine's Day.Wellness Department: With an on-campus nurse and physical therapist, students had access to healthcare more hours of the day. To be in compliance with the guidelines from the DC Health Department regarding COVID-19, the Academy conducted weekly COVID-19 testing and fully executed quarantine protocols when we had positive cases. The wellness department continued to use Magnus as our electronic health system that safely and effectively documented student conditions. We also maintained our relationship with Dr. Kessous from Montgomery Sports Medicine Center as our orthopedic consultant. Closing of Universal Ballet FoundationAfter the close of the Kirov Academy in May, the Board of Directors sold the property on Harewood Road, and in December of 2022 dissolved the Universal Ballet Foundation. The remaining assets of UBF, by resolution of the Board of Directors of UBF,

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 95.9%; rating input score 96
• Fundraising efficiency: $1.78 raised per $1 spent on fundraising; rating input score 5; 5th 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; 44th percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 80%; rating input score 80; 16th percentile among comparable filings
• Governance controls: 7 of 9 controls in place; rating input score 78
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -81%; rating input score 1; 1st percentile among comparable filings
• Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
• Liabilities to assets ratio: Limited
• Officer compensation ratio: 0.8%; rating input score 87; 87th percentile among comparable filings

Growth

• Program expense growth: 21.9% per year; rating input score 100; 91st percentile among comparable filings
• Revenue growth: 11.9% per year; rating input score 100; 80th percentile among comparable filings
• Asset growth: 14.8% per year; rating input score 100; 79th percentile among comparable filings