Velocity Dance Center

Nonprofit profile at a glance

EIN
912030037
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
5035237964
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Performing Arts Schools

Official website

Reported finances

Revenue
$928,127
Expenses
$957,137
Assets
$444,567
Liabilities
$4,025

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

Leadership & pay

6 people listed

Executive titles in this filing

  • Nina Bozicnik (President)

Highest reported compensation

  • Erin O'Reilly (Executive Dir.): $68,826 total reported compensation

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

Overview

Mission

Velocity advances contemporary dance and movement-based art by fostering the creative explorations of artists and audiences.

What it reported doing in 2024

Performance: In 2024, Velocity Presented 165 artists and hosted 32 performances and events. Velocity's performances include the culmination of our residency programs as well as the presentation of new and existing work from across the country through our Guest Artist Series at the Seattle Festival of Dance + Improvisation. We often present this program in partnership, and in 2024 we worked with both the Freeway Park Association and Northwest Film Forum to provide venues for socially conscious works, like SUPERCELL: water womb, and the film screening of RE-COLLECT, exploring themes of climate change and the evolution of the 60s style contact improvisation as a tool for social justice. Performance programs provide a vital platform for artists to share their work, while also providing valuable cultural experiences for over 3,455 people, with about 20% attending for free through free events and our tiered ticketing initiative.

Operating model

Revenue model
Donor-supported. 64% of the money available for current operations came from contributions and gifts.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 90
  • Transparency & Controls: 92
  • Accountability: 74
  • Sustainability: 33
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.6%; rating input score 95
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: $23.42 raised per $1 spent on fundraising; rating input score 63; 63rd 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: Limited
  • 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: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.1%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.46; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 7.2%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 0.2% per year; rating input score 100; 18th percentile among comparable filings
  • Revenue growth: 0.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 94.6% of revenue deployed · 91.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $873K in reported program spending
  • Leadership: top reported pay $69K · 6 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Operating margin scored 28/100.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.