2026-07-13T15:30:24-05:00 2025-08-31 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2024-09-01 131275970 SCHOOL OF AMERICAN BALLET INC SCHO 2127696600 70 LINCOLN CENTER PLAZA NEW YORK NY 100236592 NAZ KAMAL SENIOR FINANCIAL OFFICER 2127696600 2026-07-13 1 1 FREDERICK MARTENS P00298107 2126972299 2024 2025-03-06 01:10:19Z CARRIE W HINRICHS 70 LINCOLN CENTER PLAZA NEW YORK NY 10023 95945383 0 X WWW.SAB.ORG X 1934 NY SEE SCHEDULE O 43 43 227 48 0 0 9404471 10734836 7154185 7871311 14623502 4501187 40651 177821 31222809 23285155 1971138 2446468 0 0 7512653 8124367 118375 648000 2665364 8331449 8541876 17933615 19760711 13289194 3524444 104283906 113355622 13013466 13140749 91270440 100214873 X THE SCHOOL OF AMERICAN BALLET'S MISSION IS TO TRAIN STUDENTS FOR PROFESSIONAL CAREERS IN CLASSICAL BALLET. 0 0 8423393 1336862 5297272 TEACHING AND OTHER ARTISTIC PROGRAMSTHE SCHOOL PROVIDES BALLET TRAINING FOR STUDENTS AGES 6 TO 19, AT APPROPRIATE LEVELS OF CONCENTRATION. DURING THE WINTER TERM (SEPTEMBER - JUNE), ADVANCED STUDENTS HAVE 37 WEEKS OF CLASSES WITH UP TO 23.5 HOURS PER WEEK. THE YOUNGEST STUDENTS MEET TWICE WEEKLY FOR AN HOUR FOR 36 WEEKS. DURING FY 2025, 534 STUDENTS WERE ENROLLED DURING THE WINTER TERM. THEY REPRESENTED 26 STATES AND 5 FOREIGN COUNTRIES. WINTER TERM CURRICULUM ALSO INCLUDES ADDITIONAL OPPORTUNITIES, PARTICULARLY FOR ADVANCED STUDENTS, SUCH AS CHOREOGRAPHIC WORKSHOP AND YEAR END PERFORMANCE. THE SCHOOL ALSO OFFERS A 5-WEEK INTENSIVE SUMMER COURSE. 226 STUDENTS TOOK PART IN THE SUMMER COURSE DURING FY 2025. FY 2025 ALSO SAW THE EIGHTH YEAR OF A ONE-WEEK NEW YORK JUNIOR SESSION THAT ENROLLED 151 STUDENTS.THE SCHOOL PROVIDED $1,296MIL IN TUITION SCHOLARSHIPS AND AWARDS DURING FY25. FOR WINTER TERM, 36% OF STUDENTS RECEIVED TUITION FINANCIAL AID. FOR THE SUMMER COURSE, 34% OF STUDENTS WERE AWARDED TUITION SCHOLARSHIPS. IN THE NEW YORK JUNIOR PROGRAM, 26% OF STUDENTS RECEIVED TUITION SCHOLARSHIPS.THE SCHOOL EXTENDS ITS PROGRAM EFFORTS IN THE NEW YORK METROPOLITAN AREA BY CONDUCTING COMMUNITY LECTURES/DEMONSTRATIONS AND COMMUNITY AUDITIONS. 5653740 626010 2280191 STUDENT SERVICES AND RESIDENCETHE SCHOOL PROVIDES SUPPORT SERVICES FOCUSED ON STUDENTS' OVERALL HEALTH AND WELL-BEING, INCLUDING NURSING CARE, NUTRITIONAL COUNSELING, ACADEMIC TUTORING, PILATES TRAINING AND PHYSICAL THERAPY FOR STUDENTS. FOR STUDENTS LIVING IN THE RESIDENCE HALL (UP TO 64 DURING WINTER TERM AND 188 DURING SUMMER COURSE), STAFF MEMBERS PROVIDE ON-GOING SUPERVISION, ALONG WITH SEMINARS AS WELL AS CULTURAL AND SOCIAL ACTIVITIES. IN FY25, THE SCHOOL FURTHER DEVELOPED ITS PROFESSIONAL PLACEMENT PROGRAM TO ASSIST ADVANCED STUDENTS FOR PROFESSIONAL CAREERS. THE SCHOOL ENDEAVORS TO ENSURE THAT SOCIOECONOMICALLY DIVERSE STUDENTS HAVE ACCESS TO THE SCHOOL'S PROGRAMS THROUGH SCHOLARSHIPS AND FINANCIAL AID.THE SCHOOL PROVIDED $625K IN RESIDENTIAL FINANCIAL AID AND AWARDS DURING FY25. FOR WINTER TERM, 72% OF RESIDENTIAL STUDENTS RECEIVED ROOM AND BOARD FINANCIAL AID. FOR THE SUMMER COURSE PROGRAM, 7% OF RESIDENTIAL STUDENTS WERE AWARDED ROOM AND BOARD SCHOLARSHIPS. 419113 438146 0 ACADEMIC SUBSIDIES AND OTHER STUDENT AIDTHE SCHOOL PROVIDED $139,250 IN FINANCIAL SUPPORT FOR HIGH SCHOOL EDUCATION OF 7 ADVANCED STUDENTS. IN ADDITION TO THIS, THE SCHOOL SPENT $43,520 FOR ON-SITE ACADEMIC CLASSES AND 15 STUDENTS BENEFITED FROM THIS PROGRAM. STUDENTS ALSO RECEIVED TOE SHOES AT A SUBSIDIZED RATE. 45450 45450 420409 OTHER PROGRAM SERVICES REFLECTS ADDITIONAL EARNED INCOME. INCLUDED HERE ARE FEES FROM LICENSING A BALLET TO WHICH GEORGE BALANCHINE GAVE SAB RIGHTS; THIS INCOME IS ADDED TO ENDOWMENT. 45450 45450 420409 14541696 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 101 0 1 227 1 0 0 0 0 0 1 1 0 0 0 0 0 X 43 43 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X X EVELYN RIVERA 2127696608 SCHOOL OF AMERICAN BALLET INC 70 NY NY 10023 ELISABETH M ARMSTRONG VICE CHAIR 2.00 X X 0 0 0 JIM BRENNAN VICE CHAIR 2.00 X X 0 0 0 KELLIE J ABREU DIRECTOR 2.00 X 0 0 0 ZITA J EZPELETA CHAIR 5.00 X X 0 0 0 DAVID R PRUNER DIRECTOR 1.00 X 0 0 0 ALYSSA COHEN TABLADA DIRECTOR 2.00 X 0 0 0 STEPHANIE A SHARP SECRETARY 2.00 X X 0 0 0 NANCY S MACMILLAN TREASURER 2.00 X X 0 0 0 OMAR ABDEL-HAFEZ DIRECTOR 1.00 X 0 0 0 ROSEMARY T BERKERY HAUSEN DIRECTOR 2.00 X 0 0 0 AMANDA BROTMAN-SCHETRITT DIRECTOR 2.00 X 0 0 0 CATHERINE DOYLE DIRECTOR 1.00 X 0 0 0 MAXIMILIAN CASCANTE DIRECTOR 1.00 X 0 0 0 SHANNON G CASPERSEN DIRECTOR 2.00 X 0 0 0 CHELSEA V CLINTON DIRECTOR 2.00 X 0 0 0 ASHLY NIKKOLE DAVIS DIRECTOR 1.00 X 0 0 0 BENAN ELLIS DIRECTOR 1.00 X 0 0 0 FRANCES D FERGUSSON DIRECTOR 1.00 X 0 0 0 ALESSANDRA W GOULDNER DIRECTOR (TO DEC 2024) 1.00 X 0 0 0 HELEN HAJE DIRECTOR 1.00 X 0 0 0 KAREN ADAMS HORTON DIRECTOR 1.00 X 0 0 0 CORINNE KOPELMAN DIRECTOR 1.00 X 0 0 0 IDA KRISTENSEN DIRECTOR 1.00 X 0 0 0 LYN M MCHUGH DIRECTOR 1.00 X 0 0 0 ELIZABETH R MILLER DIRECTOR (TO JUL 2025) 1.00 X 0 0 0 GARFIELD L MILLER III DIRECTOR 1.00 X 0 0 0 SUSAN F MILLSTEIN DIRECTOR 2.00 X 0 0 0 NICOLE MURPHY DIRECTOR 1.00 X 0 0 0 ELLEN L NEEDHAM DIRECTOR 1.00 X 0 0 0 JUSTIN PECK DIRECTOR 1.00 X 0 0 0 HILARY PEEK DIRECTOR 1.00 X 0 0 0 GREGORY OSTLING DIRECTOR 1.00 X 0 0 0 SUSAN P READ DIRECTOR 2.00 X 0 0 0 SUZANNE ALLEN REDPATH DIRECTOR 1.00 X 0 0 0 MORGAN P RICHARDSON DIRECTOR 2.00 X 0 0 0 NAOMI SELIGMAN DIRECTOR 1.00 X 0 0 0 SALLY SHREEVES DIRECTOR 1.00 X 0 0 0 ERIC TAYLOR DIRECTOR 1.00 X 0 0 0 PHOEBE TUDOR DIRECTOR 1.00 X 0 0 0 ALICE VILMA DIRECTOR 2.00 X 0 0 0 BARBARA MANFREY VOGELSTEIN DIRECTOR 1.00 X 0 0 0 OLIVIA C WASSENAAR DIRECTOR 2.00 X 0 0 0 ELLIS WHIPPLE DIRECTOR 1.00 X 0 0 0 CAROLYN WRIGHT-LEWIS DIRECTOR 2.00 X 0 0 0 LAURA ZECKENDORF DIRECTOR 1.00 X 0 0 0 CARRIE W HINRICHS EXECUTIVE DIRECTOR 40.00 X 388898 0 52472 JONATHAN M STAFFORD ARTISTIC DIRECTOR 10.00 X 109615 0 24848 NAZ KAMAL DIRECTOR OF FINANCE 40.00 X 185532 0 48586 LORINE DELVALLEE CHIEF OPERATING OFFICER 40.00 X 69540 0 7768 KAY MAZZO BELLAS TEACHER 12.00 X 240815 0 3270 KATRINA K KILLIAN DIR CHILDREN'S PREP DIV 27.00 X 267335 0 54209 SION E HARRINGTON DEAN OF STUDENT AND ALUMNI 40.00 X 173099 0 28073 ALLEN PEIFFER TEACHER- SR PROF PLACEMENT MGR 20.00 X 168409 0 30242 SUZANNE SCHORER TEACHER 27.00 X 178106 0 7496 DARLA K HOOVER FORMER CHAIRMAN OF FACULTY 40.00 X 140767 0 12052 1922116 0 269016 14 1 1 0 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVENUE 5TH FLOOR NEW YORK NY 10022 INTERIM DEVELOPMENT MANAGEMENT SERVICES 376661 VERONA CARPENTER ARCHITECTS PLLC 59 HESTER ST GROUND FLOOR NEW YORK NY 10002 ARCHITECTS 218648 JRM CONSTRUCTION MANAGEMENT LLC 111 W 33RD ST 4TH FLOOR NEW YORK NY 10120 CONSTRUCTION MANAGEMENT 146965 3 1571090 109755 9053991 2153212 10734836 TUITION 611600 5396563 5396563 ROOM AND BOARD FEES 721000 2220545 2220545 AUDITION REG. FEES 611710 133007 133007 WORKSHOP PERF. TICKET SALES 611710 67112 67112 SPACE USAGE FEES 611710 43749 43749 10335 10335 7871311 1090971 1090971 75315549 71905333 3410216 3410216 3410216 754895 1571090 754895 0 OTHER REVENUE 900099 177821 126561 51260 177821 23285155 7997872 0 4552447 X 207770 207770 2238698 2238698 984046 316439 560474 107133 5709756 4399360 372438 937958 138852 103024 16209 19619 681658 505049 77233 99376 610055 425922 98130 86003 124019 124019 74215 74215 648000 648000 145148 145148 292024 261012 31012 52105 51870 235 180373 88995 23210 68168 134628 119230 15398 3883036 3381386 234104 267546 188172 168517 10997 8658 319166 319166 1154033 980928 80782 92323 26912 97 26815 STUDENT RESIDENCE HALL 692894 692894 OTHER OPERATING EXPENSE 476662 391732 56831 28099 WORKSHOP PERFORMANCES 227031 227031 CATERING AND RENTALS 209537 90979 33761 84797 361921 151775 23709 186437 19760711 14541696 2553651 2665364 1263517 1407110 8967641 5488522 5257659 6041079 61227 63057 468145 562738 52890034 37216323 12179065 15673711 33333056 4243539 42753596 79875866 104283906 113355622 2624866 2633052 1715518 1819679 8673082 8688018 13013466 13140749 X 37380383 38918889 53890057 61295984 91270440 100214873 104283906 113355622 X 3524444 5608335 -188346 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 82977059 3166359 9625223 9535912 86232729 73858112 112496 12806233 3799782 82977059 71672032 3086220 3082604 3982744 73858112 85195250 2748403 -12594905 3676716 71672032 75779495 2151408 11014454 3750107 85195250 0.35297 0.57021 0.07682 0 0 2067047 2067047 46654400 33581959 13072441 4168587 3634364 534223 15673711 ARES PATHFINDER FUND 1750836 F BLACKSTONE LIFE SCIENCES V ACCESS FUND 538792 F GOLUB CAPITAL PARTNERS 1384459 F HOLOCENE ADVISORS 748002 F INSIGHT PARTNERS FUND XII LP CAYMAN 464541 F INSIGHT PARTNERS OPPORTUNITIES I CAYMAN 484214 F INSOLVE GLOBAL CREDIT FEEDER FUND V, LP 1760862 F KLINE HILL PARTNERS 467056 F METROPOLITAN REAL ESTATE PARTNERS GLOBAL V 194023 F TIFF CENTERSTONE FUND 2552149 F TIFF KEYSTONE FUND 36394982 F TIFF MULTI-ASSET FUND 2776897 F TIFF GLOBAL EQUITY FUND 30067217 F WASHINGTON HARBOR CAPITAL OPPORTUNITIES 13892 F WOODSON CAPITAL OFFSHORE FUND 277944 F 79875866 26637124 5608335 5608335 21028789 145148 2111218 2256366 23285155 17692691 0 17692691 145148 1922872 2068020 19760711 PART V, LINE 4: INCOME FROM THE SCHOOL'S ENDOWMENT FUNDS IS APPLIED TO ACTIVITIES SUPPORTING ITS MISSION AS A BALLET ACADEMY. CERTAIN FUNDS ARE DESIGNATED TO SUPPORT SPECIFIC PURPOSES AS PER DONOR INTENT, MOST SIGNIFICANTLY SCHOLARSHIP AND FACULTY SALARIES. DURING FY 2025, THE SCHOOL USED A DRAW RATE OF 5% FROM THE ENDOWMENT FUNDS BASED ON THE MARKET VALUES OF ROLLING 20 QUARTERS. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,922,872. REVERSAL OF PLEDGES 188,346. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS 1,922,872. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE PART II SCHEDULE E, PART I, LINE 6 DURING FY 2025, THE SCHOOL HAD GRANTS TO SUPPORT PROGRAM ACTIVITIES FROM NEW YORK STATE COUNCIL ON THE ARTS, AND NEW YORK CITY DEPARTMENT OF CULTURAL AFFAIRS. LINE 3 - SAB'S NON-DISCRIMINATION POLICY STATEMENT THE SCHOOL OF AMERICAN BALLET HAS A NON-DISCRIMINATION POLICY WITH RESPECT TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, SEXUAL ORIENTATION, NATIONAL ORIGIN OR ANY OTHER PROTECTED CHARACTERISTICS IN ADMINISTRATION OF ITS EDUCATION POLICIES, ADMISSION POLICIES, SCHOLARSHIP PROGRAMS OR ANY OTHER SCHOOL ADMINISTERED PROGRAMS. THIS STATEMENT WAS INCLUDED IN FULL IN THE FOLLOWING ADVERTISING AND PROMOTIONAL MATERIALS. --SCHOOL YEAR HANDBOOK DISTRIBUTED TO THE ENTIRE WINTER TERM STUDENT BODY --SAB'S WEBSITE (SAB.ORG) ADMISSIONS SECTION --THE SCHOOL'S EMPLOYEE HANDBOOK DISTRIBUTED TO ALL EMPLOYEES --TWO, FULL PAGE, PAID ADVERTISEMENTS IN "HARLEM NEWS" PUBLICATION (FREE DISTRIBUTION IN NEW YORK CITY BOROUGHS) PROMOTING 2025 SPRING AUDITIONS FOR 6-10 YEAR OLDS --SAB DIGITAL BROCHURE/SCHOOL PROSPECTUS DISTRIBUTED TO APPROXIMATELY 2,500 U.S. AND INTERNATIONAL SUMMER PROGRAM APPLICANTS THE BOARD REAFFIRMED ITS COMMITMENT TO NON-DISCRIMINATION BY RESOLUTION PASSED IN APRIL 2015. X X X X X X X 1 COMMUNITY COUNSELLING SERVICE CO LLC 527 MADISON AVENUE - 5TH FLOOR NEW YORK NY 10022 INTERIM DEVELOPMENT DIR & COMPREHENSIVE CAMPAIGN MGT 0 0 648000 0 648000 NY WINTER BALL 1020282 695111 325171 111675 209026 4470 WORKSHOP BENEFIT 772333 483359 288974 107515 178959 2500 1 533370 392620 140750 16087 29864 94799 2325985 1571090 754895 235277 417849 97299 4470 754895 0 1 THE FUND FOR PUBLIC SCHOOLS 52 CHAMBERS ST NEW YORK NY 10007 112656137 501(C)(3) 43520 0 TO SUPPORT ACADEMIC INSTRUCTION FOR HUMANITIES CLASSES FOR STUDENTS PROFESSIONAL CHILDREN'S SCHOOL 132 W 60TH ST NEW YORK NY 10023 131635277 501(C)(3) 139250 0 PROVIDED SUPPORT FOR SELECT STUDENTS ENROLLED AT THE PROF. CHILDREN'S SCHOOL. 2 0 TUITION AND ROOM & BOARD SCHOLARSHIPS 313 1922872 ACTUAL AMOUNT OF TUITION REDUCTION FINANCIAL AID WIEN AWARDS FOR EXCELLENCE 4 40000 STUDENT STIPENDS 4 4000 5500 ACTUAL AMOUNT OF TUITION REDUCTION FINANCIAL AID STUDENT STIPENDS 82 60182 TRAVEL STIPENDS 1 300 VISITING FELLOWS AND ALUMNI ADVISORY COMMITTEE STIPENDS 5 11250 DANISH AMERICAN SOCIETY GRANT 2 8700 SYMPOSIUM WORKSHOP 1 1650 ACTUAL AMOUNT OF EXPENSES PAID REGISTRATION FEES BEYOND TUITION FUND 58254 ACTUAL AMOUNT OF EXPENSES PAID PHYSICAL THERAPY, PILATES & MEDICAL SUPPLIES TOE SHOES 125490 ACTUAL AMOUNT OF EXPENSES PAID SUPPLIES GUEST SPEAKER HONORARIA 2 500 PART I, LINE 2: GRANT FUNDS ARE SOLELY FOR THE PURPOSE OF PROVIDING FINANCIAL ASSISTANCE TO STUDENTS ENROLLED AT THE SCHOOL OF AMERICAN BALLET. FINANCIAL ASSISTANCE IS LARGELY DIRECTED TO AID WITH COSTS OF TUITION AND ROOM & BOARD. FINANCIAL AID GRANTS FOR TUITION AND ROOM & BOARD ARE CREDITED DIRECTLY TO STUDENTS' ACCOUNTS; THERE IS NO CASH DISTRIBUTION. MODEST TRAVEL STIPENDS ARE PAID AS REIMBURSEMENTS UPON RECEIPT OF EXPENSE DOCUMENTATION. ACADEMIC SCHOLARSHIPS WERE REMITTED DIRECTLY TO LOCAL SCHOOLS. WIEN AWARDS ARE GIVEN TO SELECTED STUDENTS FOR THEIR OUTSTANDING PROMISE AND A FACULTY MEMBER FOR DISTINGUISHED SERVICE. X X X X 1 0 0 0 0 0 0 0 0 CARRIE W HINRICHS EXECUTIVE DIRECTOR 388898 0 0 0 0 0 10418 0 42054 0 441370 0 0 0 NAZ KAMAL DIRECTOR OF FINANCE 185532 0 0 0 0 0 4966 0 43620 0 234118 0 0 0 KAY MAZZO BELLAS TEACHER 130815 0 0 0 110000 0 3270 0 0 0 244085 0 110000 0 KATRINA K KILLIAN DIR CHILDREN'S PREP DIV 267335 0 0 0 0 0 5928 0 48281 0 321544 0 0 0 SION E HARRINGTON DEAN OF STUDENT AND ALUMNI 173099 0 0 0 0 0 4693 0 23380 0 201172 0 0 0 ALLEN PEIFFER TEACHER- SR PROF PLACEMENT MGR 168409 0 0 0 0 0 3335 0 26907 0 198651 0 0 0 SUZANNE SCHORER TEACHER 178106 0 0 0 0 0 3922 0 3574 0 185602 0 0 0 DARLA K HOOVER FORMER CHAIRMAN OF FACULTY 0 0 0 0 140767 0 0 0 12052 0 152819 0 140767 0 LINE 4A ACCORDING TO AN EMPLOYMENT AGREEMENT DATED OCTOBER 2018, KAY MAZZO BELLAS WAS ENTITLED TO RECEIVE 24 MONTHS OF SEVERANCE UPON HER RETIREMENT ON JUNE 11, 2022. AS A RESULT, SHE WAS PAID $110,000 DURING 2024. ACCORDING TO AN EMPLOYMENT AGREEMENT DATED OCTOBER 23, 2023, DARLA HOOVER WAS ENTITLED TO RECEIVE 12 MONTHS OF SEVERANCE UPON HER TERMINATION ON AUGUST 18, 2023. AS A RESULT, SHE WAS PAID $140,767 DURING 2024. A THE TRUST FOR CULTURAL RESOURCES OF NYC 911882413 2016-03-03 8845000 REFUNDING OF A PRIOR ISSUE 0 0 0 A 8845000 175775 8669225 1 0 1 1 A 0 1 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 0 0 1 A 1 SCHEDULE K - PART I (F) PART I(F): THE BONDS REFUND THE BORROWER'S SERIES 2006 (DATED 08/08/2006). PART III, LINE 7 - AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(1)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS REPORTED IN PART III, LINE 6, IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. PART IV, LINE 2(B): THE BONDS HAVE MET THE 6-MONTH EXPENDITURE EXCEPTION TO REBATE. PART IV, LINE 2 (C): AN OPINION BY ORRICK WAS DELIVERED ON MAY 12, 2021 STATING THAT NO REBATE IS DUE BECAUSE THE BONDS MET THE 6-MONTH EXPENDITURE EXCEPTION TO REBATE. X 14 2153212 FAIR MARKET VALUE 0 0 1 0 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: IN FY 2025, THE SCHOOL OF AMERICAN BALLET PASSED KNOWLEDGE OF THE BALANCHINE BALLET TRADITION FROM 31 GIFTED FACULTY MEMBERS TO SOME 911 STUDENTS IN ITS PROGRAMS.THEY WERE ALSO JOINED BY A NUMBER OF NOTABLE GUEST FACULTY. IN SEEKING TALENTED STUDENTS, THE SCHOOL CONTINUED ITS LOCAL, NATIONAL AND INTERNATIONAL OUTREACH AND RECRUITMENT EFFORTS. FORM 990, PART VI, SECTION B, LINE 11B IN ADVANCE OF SUBMITTING THE SCHOOL'S FY 2025 FORM 990, IT WAS INITIALLY REVIEWED BY THE DIRECTOR OF FINANCE AND EXECUTIVE DIRECTOR. ONCE FINALIZED, THE NEXT STEP IN THE REVIEW PROCESS WAS DISTRIBUTION TO THE SCHOOL'S BUDGET, AUDIT AND COMPENSATION COMMITTEE, CHAIRMAN OF THE BOARD, AND TREASURER WHO WERE ALL INVITED TO COMMENT. THE FINAL STEP WAS DISTRIBUTION TO ALL MEMBERS OF THE SCHOOL'S BOARD OF DIRECTORS WHO ALSO HAD TIME TO OFFER COMMENTS PRIOR TO SUBMISSION OF THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL REQUIRES DISCLOSURE AT THE TIME THAT A TRANSACTION IS BEING CONSIDERED OF ANY INTEREST THAT A DIRECTOR, OFFICER OR EMPLOYEE MAY HAVE IN THE TRANSACTION. SHOULD A TRANSACTION INVOLVE BOARD APPROVAL, ANY INTERESTED PARTY IS REQUIRED TO RETIRE FROM THE MEETING DURING THE DECISION MAKING OF THE MATTER UNDER CONSIDERATION. FURTHERMORE, THE SCHOOL HAS A DETAILED CONFLICT OF INTEREST QUESTIONNAIRE THAT IS REQUIRED OF ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL REVIEWS COMPENSATION OF KEY EMPLOYEES ANNUALLY. THESE REVIEWS UTILIZE COMPARABILITY DATA FROM A NUMBER OF SIMILAR ORGANIZATIONS. THE INDEPENDENT REVIEW OF THIS INFORMATION IS DONE BY THE EXECUTIVE COMMITTEE IN THE CASE OF THE EXECUTIVE DIRECTOR AND THE ARTISTIC DIRECTOR AND CHAIR OF FACULTY AND BY THE BUDGET, AUDIT AND COMPENSATION COMMITTEE FOR OTHER KEY EMPLOYEES, SPECIFICALLY DIRECTORS OF INTERMEDIATE/ADVANCED DIVISION OF ARTISTIC PROGRAMMING AND CHIEF OPERATING OFFICER, DIRECTOR OF FINANCE, DIRECTOR OF DEVELOPMENT AND MARKETING, AND DEAN OF STUDENTS. THESE REVIEWS ARE DONE IN EXECUTIVE SESSION OF THE RESPECTIVE COMMITTEES DURING THE BUDGET PROCESS AND, DUE TO THE CONFIDENTIAL NATURE OF THE INFORMATION, ARE NOT DOCUMENTED IN MEETING MINUTES. IN 2020, THE BOARD COMMITTEE EXTENDED THE EXECUTIVE DIRECTOR'S CONTRACT FOR 5 YEARS. THE EXECUTIVE DIRECTOR'S SALARY WAS REVIEWED AND APPROVED WITH COMPARABILITY INFORMATION COVERING 09/04/2020 - 09/03/2025. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THEM ON ITS WEBSITE; HARD COPIES ARE ALSO AVAILABLE UPON REQUEST. COPIES OF THE SCHOOL'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE PROVIDED TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 232,759. FUNDRAISING EXPENSES 31,012. TOTAL EXPENSES 263,771. OTHER OUTSIDE PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 28,253. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 28,253. FORM 990, PART XI, LINE 9: REVERSAL OF A PRIOR YEAR PLEDGE -188,346. SCHEDULE B, SCHEDULE OF CONTRIBUTIONS CONTRIBUTIONS ON SCHEDULE B WHICH RELATE TO UNCONDITIONAL PROMISES TO GIVE (RECEIVABLES) ARE REFLECTED GROSS OF DISCOUNTS TO PRESENT VALUE. ACCORDINGLY, THE TOTAL OF THE CONTRIBUTIONS REFLECTED ON SCHEDULE B MAY BE GREATER THAN THE AMOUNT OF CONTRIBUTIONS REFLECTED ON PAGE 9, PART VIII, LINE 1H.