2025-11-17T08:50:58-06:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2024-07-01 231352001 THE ACADEMY OF VOCAL ARTS ACAD 2157351685 1920 SPRUCE STREET PHILADELPHIA PA 19103 SCOTT GUZIELEK PRESIDENT & ARTISTIC DIRECTOR 2157351685 2025-11-14 1 0 DAVID M SEKERAK P01395497 2156433900 2025-11-14 2024 2025-03-06 01:10:19Z SCOTT GUZIELEK 1920 SPRUCE STREET PHILADELPHIA PA 19103 11998282 0 X WWW.AVAOPERA.ORG X 1936 PA TO DISCOVER & PREPARE PROMISING YOUNG SINGERS FOR SUCCESSFUL INTERNATIONAL CAREERS AS OPERA SOLOISTS 29 29 112 32 0 0 2486420 2956521 337471 301490 3499721 1540181 11858 -145173 6335470 4653019 325235 345733 0 0 2507628 2566380 0 0 442146 1621006 1626914 4453869 4539027 1881601 113992 50209537 54219823 2519511 2321266 47690026 51898557 X THE MISSION OF THE ACADEMY OF VOCAL ARTS (AVA) IS TO BE THE WORLD'S PREMIER INSTITUTION FOR TRAINING YOUNG ARTISTS AS INTERNATIONAL OPERA SINGERS. THROUGH RIGOROUS INSTRUCTION AND COACHING, AND BY PRESENTATIONS OF RESIDENT ARTISTS FROM AROUND THE WORLD IN FULLY 0 0 3296051 345733 301490 ADMISSION INTO AVA'S FOUR-YEAR PROGRAM IS DETERMINED BY HIGHLY COMPETITIVE ANNUAL AUDITIONS. THOSE WHO ARE ACCEPTED RECEIVE TUITION-FREE INTENSIVE TRAINING.(CONTINUED ON SCHEDULE O.)THE ACADEMY OF VOCAL ARTS PRESENTED FULL OPERA PRODUCTIONS, RECITALS, AND EVENTS IN THE 2024-25 AVA OPERA THEATRE SEASON. OCTOBER'S NEW ARTISTS RECITAL, WHERE FIRST-YEAR RESIDENT ARTISTS WERE INTRODUCED, STARTED THE SEASON FOLLOWED AGAIN BY THE ANNUAL GIARGIARI BEL CANTO COMPETITION. THE SEASON OFFICIALLY OPENED WITH GOUNOD'SFAUST. JANUARY SAW TWO PERFORMANCES OF JUBILATE!, OUR POPULAR ANNUAL CONCERT OF SACRED MUSIC. THE WINTER OPERA WAS MOZART'S COSI FAN TUTTE. THIS YEAR'S HIGHLIGHT WAS OUR 90TH ANNIVERSARY CELEBRATION AND GALA, BRAVA PHILADELPHIA! HELD AT THE KIMMEL CENTER FOR THE PERFORMING ARTS IN MARCH. THE SEASON CONCLUDED WITH MASCAGNI'S L'AMICO FRITZ AND THE ANNUAL FAREWELL RECITAL AND GRADUATION. 3296051 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 49 0 1 112 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 0 0 0 PA NJ NY X X X THE ORGANIZATION 2157351685 1920 SPRUCE STREET PHILADELPHIA PA 19103 SCOTT GUZIELEK PRESIDENT/ARTISTIC DIRECTOR 40.00 X 172000 0 18161 CONSTANTINA CHRISTOU CFO 40.00 X 146667 0 16865 CHRISTOFER MACATSORIS MUSIC DIRECTOR 40.00 X 154167 0 8132 JASON WARD DIR. INSTITUTIONAL ADVANCEMENT 40.00 X 101667 0 9592 HAROLD F PITCAIRN II CHAIRMAN 2.00 X X 0 0 0 SUSAN E KANE VICE CHAIR & TREASURER 2.00 X X 0 0 0 NEAL W KROUSE VICE CHAIR & SECRETARY 2.00 X X 0 0 0 DR DIANE COLE AHL DIRECTOR 2.00 X 0 0 0 R RANDOLPH APGAR DIRECTOR 2.00 X 0 0 0 CHRISTINE BATCHELOR DIRECTOR 2.00 X 0 0 0 BARBARA DONNELLY BENTIVOGLIO DIRECTOR 2.00 X 0 0 0 JUDITH BROUDY DIRECTOR 2.00 X 0 0 0 ALICE CHASE DIRECTOR 2.00 X 0 0 0 KRISTIN DAVIDSON DIRECTOR 2.00 X 0 0 0 JULIE FAIRMAN DIRECTOR 2.00 X 0 0 0 LILY FERRY DIRECTOR 2.00 X 0 0 0 SCOTT HICKMAN DIRECTOR 2.00 X 0 0 0 I GAIL HOWARD DIRECTOR 2.00 X 0 0 0 DR RICHARD KENT DIRECTOR 2.00 X 0 0 0 ROCHELLE MAGARICK DIRECTOR 2.00 X 0 0 0 DR DOUGLAS MANION DIRECTOR 2.00 X 0 0 0 JOSEPH W MCGUIRE ESQ DIRECTOR 2.00 X 0 0 0 MARLENE MILNER DIRECTOR 2.00 X 0 0 0 LATONIA MOORE DIRECTOR 2.00 X 0 0 0 KATHERINE NIVEN DIRECTOR 2.00 X 0 0 0 STEPHEN PARAHUS DIRECTOR 2.00 X 0 0 0 MARIA G VOGIATZI PLESTIS MD DIRECTOR 2.00 X 0 0 0 DR SUZANNE ROOT ESQ DIRECTOR 2.00 X 0 0 0 DR RUTH RYAVE DIRECTOR 2.00 X 0 0 0 COREY SMITH DIRECTOR 2.00 X 0 0 0 WALTER M STRINE JR ESQ DIRECTOR 2.00 X 0 0 0 RICHARD TROXELL II DIRECTOR 2.00 X 0 0 0 GORDON M WASE ESQ DIRECTOR 2.00 X 0 0 0 DANTE CERZA DIRECTOR (THRU SEPT 2024) 2.00 X 0 0 0 P JEFFERY WARDEN DIRECTOR (THRU JUNE 2025) 2.00 X 0 0 0 CHARLOTTE WATTS DIRECTOR (THRU SEPT 2024) 2.00 X 0 0 0 574501 0 52750 4 0 1 0 0 468340 5000 2483181 287290 2956521 PERFORMANCE AND FEES 711110 297370 297370 HCW THEATER RENTALS 531190 4120 4120 301490 1483000 1483000 7049914 6992733 57181 57181 57181 200717 468340 352530 -151813 -151813 MISCELLANEOUS 900099 6640 6640 6640 4653019 301490 0 1395008 345733 345733 360558 360558 1821760 1431483 115434 274843 86222 72507 5772 7943 129810 83570 10830 35410 168030 112045 34597 21388 75149 75149 323588 264333 59255 118588 118588 37118 9095 28023 81832 42131 14511 25190 81751 81751 43420 43420 91492 88082 3410 238570 163262 35945 39363 61512 50913 10599 OTHER PRODUCTION EXP. 395620 395620 OTHER FUNDRAISING EXP. 38009 38009 40265 36938 3327 4539027 3296051 800830 442146 54958 42190 121473 56946 183578 347102 4279 1486 19012 20265 8639213 4989457 3864991 3649756 36698643 40075347 9262603 10026731 50209537 54219823 22103 42555 7629 7240 2409056 2234073 80723 37398 2519511 2321266 X 18615662 20160629 29074364 31737928 47690026 51898557 50209537 54219823 X 113992 3301148 793391 X 0 1 X 1 0 X 4023725 2778453 2609098 2486420 2956521 14854217 4023725 2778453 2609098 2486420 2956521 14854217 825304 14028913 1052025 1402236 1679405 1513636 1483000 7130302 10700 10700 252 1520 304 43 6640 8759 22003978 1262355 0.63760 0.63520 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2020 AMOUNT: $ 252. 2021 AMOUNT: $ 1,520. 2022 AMOUNT: $ 304. 2023 AMOUNT: $ 43. 2024 AMOUNT: $ 6,640. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 36698643 135024 4766705 343025 1182000 40075347 33366468 140826 4722174 324825 1206000 36698643 31365726 205425 3562742 299425 1468000 33366468 37674940 460300 -5355214 329300 1085000 31365726 29217061 1472200 8285879 338000 962200 37674940 0.46780 0.53220 0.00000 0 0 448000 448000 7356343 4360838 2995505 14679 7584 7095 701886 534255 167631 118305 86780 31525 3649756 BENEFICIAL INTEREST IN TRUSTS 10021680 RIGHT-OF-USE ASSETS 5051 10026731 LEASE LIABILITIES 36838 GIFT ANNUITY CONTRACT PAYABLE 560 37398 X 9024939 3301148 793391 4094539 4930400 75149 -352530 -277381 4653019 4816408 352530 352530 4463878 75149 75149 4539027 PART V, LINE 4: THE PRIMARY OBJECTIVE OF THE INVESTMENT MANAGEMENT OF THE ENDOWMENT IS TO PRESERVE OR INCREASE ITS REAL PURCHASING POWER OVER TIME WHILE PROVIDING A RELATIVELY STABLE AND CONSTANT STREAM OF CASH DISTRIBUTIONS FOR USE IN THE CURRENT OPERATIONS OF THE ACADEMY. PART X, LINE 2: AVA IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. AVA FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS APPLICATION OF THE STANDARD HAS NO EFFECT ON AVA'S FINANCIAL STATEMENTS. AVA'S FORM 990 RETURN FOR THE YEAR ENDED JUNE 30, 2014 WAS AUDITED BY THE INTERNAL REVENUE SERVICE (IRS). THE RESULT OF THE AUDIT WAS THE IRS ACCEPTED THE RETURN AS FILED AND AVA CONTINUES TO QUALIFY FOR EXEMPTION FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF BENEFICIAL INTERESTS IN TRUSTS 793,391. PART XI, LINE 4B - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES -352,530. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EVENT EXPENSES 352,530. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NON-DISCRIMINATION POLICIES ARE PUBLISHED IN THE AVA'S STUDENT GUIDELINES, CONTAINED IN THE PUBLISHED BROCHURE AND ON THE WEBSITE. SCHEDULE E, PART I, LINE 6 THE AVA RECEIVED A GRANT FROM A QUASI-GOVERNMENTAL ORGANIZATION, PENNSYLVANIA COUNCIL OF THE ARTS. THE AMOUNT OF THIS GRANT FOR THE FISCAL YEAR WAS $5,000. DC NJ NY PA SC GALA 529997 370998 158999 42513 62442 75854 91129 OPENING NIGHT 56000 39200 16800 30206 4375 3 83060 58142 24918 23823 10871 11317 669057 468340 200717 42513 116471 86725 106821 352530 -151813 1 STUDENT FELLOWSHIP AWARDS 22 336525 STUDENT SUMMER STUDY GRANTS 3 6500 STUDENT GRANTS 1 2708 PART I, LINE 2: MERIT-BASED FELLOWSHIPS ARE GRANTED TO RESIDENT ARTISTS TO OFFSET THE COST OF LIVING EXPENSES WHILE ATTENDING AVA. THE AMOUNTS ARE DETERMINED ANNUALLY AND PAID MONTHLY. SUMMER STUDY GRANTS ARE PROVIDED FOR APPROVED IMMERSION PROGRAMS. PROOF OF ACCEPTANCE IN THE PROGRAM AND ATTENDANCE ARE PROVIDED TO AVA. STUDENT GRANTS ARE ISSUED TO PROVIDE ADDITIONAL ASSISTANCE TO RESIDENT ARTISTS IN HARDSHIP SITUATIONS. SPECIFICALLY IDENTIFIED EXPENSES ARE REVIEWED AND APPROVED FOR REIMBURSEMENT. X 0 0 0 0 0 0 0 0 0 SCOTT GUZIELEK PRESIDENT/ARTISTIC DIRECTOR 172000 0 0 0 0 0 8600 0 9561 0 190161 0 0 0 CONSTANTINA CHRISTOU CFO 146667 0 0 0 0 0 7333 0 9532 0 163532 0 0 0 CHRISTOFER MACATSORIS MUSIC DIRECTOR 154167 0 0 0 0 0 7708 0 424 0 162299 0 0 0 X 14 287290 FMV ON DATE OF GIFT 0 0 1 0 PART I, COLUMN (B): THE NUMBER IN THIS COLUMN REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART III, LINE 1 STAGED PROFESSIONAL OPERA PRODUCTIONS, AS WELL AS CONCERTS, ORATORIOS, PUBLIC PROGRAMS, THE ACADEMY WILL TRAIN ARTISTS WITH THE HIGHEST POTENTIAL FOR CAREER SUCCESS WHILE ENRICHING LIVES IN PHILADELPHIA AND BEYOND. THE PERFORMING EXPERIENCE IS THE KEY COMPONENT IN AVA'S TRAINING OF OUTSTANDING SINGERS AND THAT WHICH DISTINGUISHES IT FROM OTHER MUSIC/OPERA TRAINING PROGRAMS. THE SELECTED OPERAS FOR PUBLIC PERFORMANCES ARE DETERMINED BY THE UNIQUE QUALITIES OF OUR RESIDENT ARTISTS' VOICES, HELPING THEM BUILD REPERTOIRE FOR A CAREER IN OPERA AND VOCAL PERFORMANCE AND PROVIDING TECHNICALLY CHALLENGING BUT ACHIEVABLE ARTISTIC GROWTH. OUR UNIQUE APPROACH GUARANTEES THAT OUR RESIDENT ARTISTS GRADUATE WITH A MINIMUM OF 8 LEAD ROLES IN THEIR REPERTOIRE. THE OVERALL QUALITY OF OUR TRAINING AND PERFORMANCE EXPERIENCE HAS ALLOWED RESIDENT ARTISTS TO STEP ONTO MAJOR OPERA HOUSE STAGES WITH GREAT CONFIDENCE IMMEDIATELY UPON GRADUATION, IF NOT BEFORE. FORM 990, PART VI, SECTION A, LINE 1A AVA HAS A GOVERNANCE COMMITTEE THAT CAN EXERCISE THE AUTHORITY OF THE BOARD BETWEEN BOARD MEETINGS. NO COMMITTEE SHALL HAVE ANY POWER OR AUTHORITY TO: (A) FILL VACANCIES IN THE BOARD OR ELECT OR REMOVE ANY OFFICER; (B) ADOPT, AMEND, SUSPEND OR REPEAL THE BYLAWS; (C) AMEND OR REPEAL ANY RESOLUTION OF THE BOARD; (D) ACT ON ANY MATTER COMMITTED BY THE BYLAWS OR BOARD RESOLUTION TO ANOTHER COMMITTEE; (E) TAKE ANY EXTRAORDINARY ACTION. IF ANY PERSON WHO IS NOT A DIRECTOR IS APPOINTED TO ANY COMMITTEE OF THE BOARD, SUCH NON-DIRECTOR SHALL HAVE NO RIGHT TO VOTE ON ANY QUESTION THAT WOULD CREATE A BINDING OBLIGATION OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM, REVIEWED IN DETAIL BY THE CFO AND THEN SUBMITTED TO THE FINANCE COMMITTEE FOR REVIEW. UPON APPROVAL BY THE FINANCE COMMITTEE, THE FORM 990 IS SUBMITTED TO THE BOARD OF DIRECTORS FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR AT THE SEPTEMBER BOARD MEETING, A CONFLICT OF INTEREST STATEMENT IS DISTRIBUTED TO EACH BOARD MEMBER AND KEY EMPLOYEE TO COMPLETE AND SIGN. THE SIGNED DOCUMENTS ARE SUBMITTED TO THE DEVELOPMENT ASSOCIATE, WHO MAINTAINS THE DOCUMENTS AND ENSURES COMPLETION BY EACH BOARD MEMBER AND KEY EMPLOYEE. ANY ABSENT BOARD MEMBER OR KEY EMPLOYEE RECEIVES THE FORM VIA EMAIL. POTENTIAL CONFLICTS ARE PROVIDED TO THE VICE CHAIR AND SECRETARY OF THE BOARD TO DETERMINE WITH THE BOARD CHAIRMAN IF ANY ACTUAL CONFLICTS EXIST. ANYONE DEEMED TO HAVE A CONFLICT SHALL NOT VOTE OR USE ANY PERSONAL INFLUENCE IN REGARD TO THE MATTER. THE MINUTES OF THE MEETING SHALL REFLECT THAT THE DISCLOSURE WAS MADE AND SUCH BOARD MEMBER OR KEY EMPLOYEE ABSTAINED FROM VOTING ON THE MATTER. FORM 990, PART VI, SECTION C, LINE 19 AVA MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST AND PUBLISHES ITS FINANCIAL STATEMENTS ON ITS WEBSITE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF BENEFICIAL INTERESTS IN TRUSTS 793,391.