2018-12-14T11:42:11-06:00 2018-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2017-07-01 231352001 THE ACADEMY OF VOCAL ARTS ACAD 2157351685 1920 SPRUCE STREET PHILADELPHIA PA 19103 K JAMES MCDOWELL PRESIDENT 2157351685 2018-12-13 1 DAVE SEKERAK P01395497 2156433900 67.137.57.251 2018-12-13 11:42:09 ES P 9434206CF9E616DFA6493511BABFC6F852C175E8 06A5D49CE0E47BC847BBABE773DFDA5B06445927 2017 2019-02-21 02:37:17Z K JAMES MCDOWELL 1920 SPRUCE ST PHILADELPHIA PA 19103 5059937 0 X WWW.AVAOPERA.ORG X 1936 PA TO DISCOVER AND PREPARE PROMISING YOUNG SINGERS FOR SUCCESSFUL INTERNATIONAL CAREERS AS OPERA SOLOISTS. 31 31 38 33 1450 0 1981643 1956350 293426 315858 1508119 1827039 -61311 -35740 3721877 4063507 252150 261400 0 0 1894403 1880917 0 0 400177 1706762 1778836 3853315 3921153 -131438 142354 41871057 42586642 3723343 3551620 38147714 39035022 X THE MISSION OF THE ACADEMY OF VOCAL ARTS 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 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 OPERAS ARE CHOSEN TO FIT THE SPECIFIC NEEDS OF THE RESIDENT ARTISTS, HELPING TO BUILD REPERTOIRE FOR A CAREER IN OPERA AND VOCAL PERFORMANCE AND PROVIDING TECHNICALLY CHALLENGING BUT ACHIEVABLE ARTISTIC GROWTH. 0 0 2867170 261400 318058 ADMISSION INTO AVA'S FOUR-YEAR PROGRAM IS DETERMINED BY HIGHLY COMPETITIVE ANNUAL AUDITIONS. THOSE WHO ARE ACCEPTED RECEIVE TUITION-FREE INTENSIVE TRAINING.FOR ITS 83RD ANNIVERSARY SEASON IN 2017-2018, THE AVA OPERA THEATRE SUCCESSFULLY PRODUCED FOUR FULLY-STAGED OPERA PRODUCTIONS: VERDI'S IL TROVATORE, RICHARD WAGNER'S DAS RHEINGOLD, RICHARD STRAUSS' ARIADNE AUF NAXOS, AND VERDI'S LA TRAVIATA; AS WELL AS JUBILATE, A CONCERT OF ORATORIO MASTERPIECES, AND SEVERAL VOCAL RECITALS IN A SEASON THAT DREW OVER 10,000 PATRONS TO ITS PERFORMANCES IN FIVE DIFFERENT VENUES IN GREATER PHILADELPHIA.RECENT GRADUATES CONTINUE TO STAR IN PRODUCTIONS AT MAJOR INTERNATIONAL OPERA COMPANIES, INCLUDING THE FOLLOWING METROPOLITAN OPERA PRODUCTIONS: AILYN PEREZ IN THE MARRIAGE OF FIGARO, LA BOHEME AND ROMEO ET JULIETTE, MICHAEL FABIANO IN LUCIA DI LAMMERMOOR AND LA BOHEME, BRYAN HYMEL IN ROMEO ET JULIETTE, JAMES MORRIS IN OTELLO, ANGELA MEADE IN NORMA AND SEMIRAMIDE, AND JOYCE DIDONATO IN NORMA AND CENDRILLON. MORE THAN 1,200 MIDDLE AND HIGH SCHOOL STUDENTS PARTICIPATED IN AVA'S OPERA OUTREACH EDUCATIONAL PROGRAM, RECEIVING WORKSHOPS INTRODUCING OPERA AND THE AVA RESIDENT ARTISTS, INCLUDING ATTENDANCE AT TWO OPERAS: IL TROVATORE AND LA TRAVIATA. 2867170 1 1 0 0 0 0 0 0 0 1 1 1 0 0 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 76 0 38 1 1 1 0 0 0 0 1 1 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 PA NJ X X SUSAN MOCK 2157351685 1920 SPRUCE STREET PHILADELPHIA PA 19103 HAROLD F PITCAIRN II CHAIRMAN 2.00 X X 0 0 0 SUSAN E KANE VICE CHAIRMAN & TREASURER 2.00 X X 0 0 0 MARTHA R HURT ESQ VICE CHAIRMAN & SECRETARY 2.00 X X 0 0 0 DR ROMEO ABELLA DIRECTOR 2.00 X 0 0 0 KENNETH E AHL ESQ 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 JOAN DEJEAN DIRECTOR 2.00 X 0 0 0 PETER GOULD DIRECTOR 2.00 X 0 0 0 NANCY FABIOLA HERRERA DIRECTOR 2.00 X 0 0 0 I GAIL HOWARD DIRECTOR 2.00 X 0 0 0 BRYAN HYMEL DIRECTOR 2.00 X 0 0 0 ANTHONY P JANNETTA DIRECTOR 2.00 X 0 0 0 DR RICHARD KENT DIRECTOR 2.00 X 0 0 0 MARX S SANDY LEOPOLD DIRECTOR 2.00 X 0 0 0 LEON L LEVY DIRECTOR 2.00 X 0 0 0 JOSEPH W MCGUIRE ESQ DIRECTOR 2.00 X 0 0 0 THOMAS B O'ROURKE DIRECTOR 2.00 X 0 0 0 JOHN D ROLLINS 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 ANN R STEPHENSON DIRECTOR 2.00 X 0 0 0 WALTER M STRINE JR ESQ DIRECTOR 2.00 X 0 0 0 RICHARD TROXELL DIRECTOR 2.00 X 0 0 0 P JEFFERY WARDEN DIRECTOR 2.00 X 0 0 0 GORDON M WASE ESQ DIRECTOR 2.00 X 0 0 0 CHARLOTTE H WATTS DIRECTOR 2.00 X 0 0 0 K JAMES MCDOWELL PRESIDENT 40.00 X 146667 0 41551 SUSAN L MOCK CFO 40.00 X 121667 0 17502 CHRISTOFER MACATSORIS MUSIC DIRECTOR 40.00 X 146667 0 26776 ROBERT W LYON DIRECTOR OF INSTITUTIONAL ADVANCEMENT 40.00 X 102400 0 6182 517401 0 92011 4 0 1 0 0 325941 39600 1590809 296489 1956350 PERFORMANCE AND FEES 711110 315858 315858 315858 1446905 1446905 1195949 815815 380134 380134 380134 139689 325941 180615 -40926 -40926 HCW THEATER RENTALS 900099 2200 2200 MISCELLANEOUS 900099 1536 1536 PROGRAM ADS 900099 1450 1450 5186 4063507 318058 1450 1787649 261400 261400 336928 336928 1242160 892258 67568 282334 42635 28449 2544 11642 120960 96295 24665 138234 78465 25504 34265 33949 33949 317843 270439 47404 125351 125351 22305 22305 92868 15215 67509 10144 25334 25334 131661 127225 4436 285693 285693 41878 34531 7347 ORCHESTRA 269896 269896 OTHER PRODUCTION EXPENS 269599 269599 UTILITIES AND TELEPHONE 47210 36534 10676 OTHER FUNDRAISING EXPEN 37127 37127 78122 75820 2302 3921153 2867170 653806 400177 50741 191581 101794 99273 704005 139984 14860 11879 14935 14945 8870303 3677346 5472618 5192957 27763250 28987531 7733166 7936810 15688 11682 41871057 42586642 43281 39052 34627 44164 3557627 3396043 87808 72361 3723343 3551620 X 15311212 15913558 782584 320183 22053918 22801281 38147714 39035022 41871057 42586642 X 142354 541310 203644 X 0 1 X 1 0 X 27689733 378036 2269932 258900 1167500 28911301 23725630 2082347 3189543 248050 1059737 27689733 24345484 643983 95703 246100 1113500 23725630 22721137 2088925 760022 241100 983500 24345484 16879734 3737656 3254997 233250 918000 22721137 0.48600 0.51400 0.00000 0 0 448000 448000 7305450 2862205 4443245 14679 2447 12232 894273 661385 232888 207901 151309 56592 5192957 BENEFICIAL INTEREST IN TRUSTS 7936810 F 7936810 DUE TO BENEFICIARIES- CURRENT PORTION 3283 DUE TO BENEFICIARIES- LONG TERM PORTION 25605 CAPITAL LEASE OBLIGATION-LT 29693 CAPITAL LEASE OBLIGATION-CURRENT 13780 72361 X 4955127 541310 203644 744954 4210173 33949 -180615 -146666 4063507 4067819 0 4067819 33949 -180615 -146666 3921153 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: THE ACADEMY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ACADEMY FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THIS APPLICATION OF THE STANDARD HAS NO EFFECT ON THE ACADEMY'S FINANCIAL STATEMENTS. THE ACADEMY'S FORM 990 RETURN FOR THE YEAR ENDED JUNE 30, 2014 WAS AUDITED BY THE IRS. THE RESULT OF THE AUDIT WAS THE IRS ACCEPTED THE RETURN AS FILED AND THE ACADEMY 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 BENEFICIAL INTEREST 203,644. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSE NETTED WITH REVENUE -180,615. PART XII, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EVENTS EXPENSE NETTED WITH REVENUE -180,615. 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 ACADEMY'S STUDENT GUIDELINES, CONTAINED IN THE PUBLISHED BROCHURE AND ON THE WEB SITE. SCHEDULE E, PART I, LINE 6 THE ACADEMY OF VOCAL ARTS RECEIVED GRANTS FROM QUASI-GOVERNMENTAL ORGANIZATIONS, THE PENNSYLVANIA COUNCIL ON THE ARTS AND THE PHILADELPHIA CULTURAL FUND. THE TOTAL OF THESE GRANTS FOR THE FISCAL YEAR TOTALED $39,600. GALA AND FUNDRAISING EVENTS 465630 325941 139689 180615 465630 325941 139689 180615 180615 -40926 1 STUDENT AID - SUMMER STUDY 2 2500 FMV N/A STUDENT FELLOWSHIP AWARDS 26 258900 0 FMV N/A PART I, LINE 2: MERIT-BASED FELLOWSHIPS WERE GRANTED. A BUDGET FOR STUDENT LIVING EXPENSES IS POSTED IN THE AVA WEB SITE. X 0 0 0 0 0 0 0 0 0 K JAMES MCDOWELL PRESIDENT 146667 0 0 0 0 0 7333 0 34218 0 188218 0 0 0 CHRISTOFER MACATSORIS MUSIC DIRECTOR 146667 0 0 0 0 0 7333 0 19443 0 173443 0 0 0 X 19 296489 FMV ON DATE OF GIFT 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS 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. 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 TO COMPLETE AND SIGN. THE SIGNED DOCUMENTS ARE SUBMITTED TO THE DIRECTOR OF INSTITUTIONAL ADVANCEMENT, WHO MAINTAINS THE DOCUMENTS AND ENSURES COMPLETION BY EACH BOARD MEMBER. ANY ABSENT BOARD MEMBER RECEIVES THE FORM VIA EMAIL. FORM 990, PART VI, SECTION B, LINE 15A AN OVERVIEW COMMITTEE OF THE BOARD OF DIRECTORS REVIEWS THE PRESIDENT'S PERFORMANCE AND SETS THE PRESIDENT'S COMPENSATION. COMPENSATION FOR ALL OTHER EMPLOYEES IS THE RESPONSIBILITY OF THE PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 AVAILABLE UPON REQUEST FORM 990, PART XI, LINE 9: CHANGE OF VALUE OF BENEFICIAL INTEREST 203,644.