2015-02-14T08:41:50-06:00 2014-06-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE STE 400 PLYMOUTH MEETING PA 19462 990 2013-07-01 231352001 THE ACADEMY OF VOCAL ARTS ACAD 2157351685 1920 SPRUCE STREET PHILADEPHIA PA 19103 K JAMES MCDOWELL PRESIDENT 2157351685 2015-02-13 1 STEVE ROSA CPA P00079667 2156433900 2013 2016-02-25 16:41:14Z K JAMES MCDOWELL 1920 SPRUCE ST PHIALDELPHIA PA 19103 8858207 0 X WWW.AVAOPERA.ORG X 1936 PA TO PROVIDE VOCAL AND OPERA TRAINING TO YOUNG SINGERS AND PRESENT IN COMMUNITY PERFORMANCES. 36 36 33 38 0 0 4411471 3787494 304517 295865 1279186 1840177 -33866 -15036 5961308 5908500 194035 207786 0 0 1653329 1618846 0 55190 348116 1514692 1679415 3362056 3561237 2599252 2347263 32366610 39407092 2027403 4199732 30339207 35207360 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 2660603 207786 295865 ADMISSION INTO AVA'S FOUR-YEAR PROGRAM IS DETERMINED BY HIGHLY COMPETITIVE ANNUAL AUDITIONS. THOSE WHO ARE ACCEPTED RECEIVE TUITION-FREE INTENSIVE TRAINING EQUIVALENT TO MORE THAN $100,000 PER YEAR. MERIT-BASED FELLOWSHIPS ARE AWARDED IN ADDITION TO HELP OFFSET COSTS OF ROOM AND BOARD.FOR THE 2013-2014 SEASON, THE AVA OPERA THEATRE SUCCESSFULLY PRODUCED FOUR FULLY-STAGED OPERA PRODUCTIONS: MOZART'S COSI FAN TUTTE, TCHAIKOVSKY'S PIQUE DAME, VERDI'S LA TRAVIATA, AND MASSENET'S MANON, 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 UPCOMING METROPOLITAN OPERA PRODUCTIONS : BRYAN HYMEL IN LA BOHEME, LATONIA MORE IN AIDA, AILYN PEREZ IN CARMEN, JAMES MORRIS IN DON CARLO AND DON GIOVANNI, JENNIFER CHECK IN DON GIOVANNI, JOYCE DIDONATO IN LA DONNA DEL LAGO, ANGELA MEADE IN ERNANI, STEPHEN COSTELLO IN THE MERRY WIDOW AND ALSO LA TRAVIATA.MORE THAN 1,000 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: COSI FAN TUTTE, AND MANON. 2660603 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 63 0 33 1 0 0 0 0 0 1 1 1 1 0 0 0 X 36 36 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 BA MACLEAN JR CHAIRMAN 2.00 X X 0 0 0 SUSAN E KANE VICE CHAIRMAN 2.00 X X 0 0 0 LUCINDA S LANDRETH VICE CHAIRMAN 2.00 X X 0 0 0 MARTHA R HURT VICE PRESIDENT & SECRETARY 2.00 X X 0 0 0 HAROLD F PITCAIRN II TREASURER/VICE CHAIR 2.00 X X 0 0 0 R RANDOLPH APGAR DIRECTOR 2.00 X 0 0 0 JOSEPH D BLAIR DIRECTOR 2.00 X 0 0 0 DR CLAIRE BOASI DIRECTOR 2.00 X 0 0 0 ROBERT W BOGLE DIRECTOR 2.00 X 0 0 0 KAY D BOSSONE DIRECTOR 2.00 X 0 0 0 STEPHEN COSTELLO DIRECTOR 2.00 X 0 0 0 KRISTIN DAVIDSON DIRECTOR 2.00 X 0 0 0 DR ROMEO ABELLA DIRECTOR 2.00 X 0 0 0 BARBARA M DONNELLY DIRECTOR 2.00 X 0 0 0 ANTHONY FABIANO DIRECTOR 2.00 X 0 0 0 KEVIN FROST DIRECTOR 2.00 X 0 0 0 ADELE S HEBB DIRECTOR 2.00 X 0 0 0 NANCY FABIOLA HERRERA DIRECTOR 2.00 X 0 0 0 MARTIN G JANOWIECKI DIRECTOR 2.00 X 0 0 0 SANDY LEOPOLD DIRECTOR 2.00 X 0 0 0 JIM MCCLELLAND DIRECTOR 2.00 X 0 0 0 JOSEPH MCGUIRE ESQ DIRECTOR 2.00 X 0 0 0 JULES L MERRON DIRECTOR 2.00 X 0 0 0 ELIZABETH A MURPHY DIRECTOR 2.00 X 0 0 0 JOHN A NYHEIM DIRECTOR 2.00 X 0 0 0 THOMAS B O'ROURKE DIRECTOR 2.00 X 0 0 0 DR SCOTT RICHARD 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 SUSAN E SHERMAN 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 P JEFFREY WARDEN DIRECTOR 2.00 X 0 0 0 CHARLOTTE WATTS DIRECTOR 2.00 X 0 0 0 PETER GOULD DIRECTOR 2.00 X 0 0 0 I GAIL HOWARD DIRECTOR 2.00 X 0 0 0 LEON L LEVY DIRECTOR 2.00 X 0 0 0 MARIO MELE DIRECTOR 2.00 X 0 0 0 K JAMES MCDOWELL PRESIDENT 40.00 X 120000 0 38667 CHRISTOFER MACATSORIS MUSIC DIRECTOR 40.00 X 130000 0 19582 250000 0 58249 2 0 1 0 0 299961 40583 3446950 441107 3787494 PERFORMANCE AND FEES 711110 295865 295865 295865 1341157 1341157 2122 2945 -823 -823 -823 2910164 392850 2411144 392850 499020 0 499020 499020 128555 299961 142768 -14213 -14213 5908500 295865 0 1825141 207786 207786 156804 156804 1163736 845135 162000 156601 68591 49106 10386 9099 129260 105377 4357 19526 100455 66134 22067 12254 55190 55190 27360 27360 286664 239077 47587 86047 86047 31265 31265 67455 13002 45785 8668 10183 10183 94082 83617 10465 251722 251722 74860 66906 7954 OTHER PRODUCTION EXPENS 256766 256766 ORCHESTRA & CHORUS 249224 249224 CAMPAIGN EXPENSES 60527 60527 UTILITIES 52756 39643 13113 130504 101061 3192 26251 3561237 2660603 552518 348116 222274 371430 2331254 2221625 8137 5776 85348 104373 8623317 2603545 5742940 6019772 17003980 22857625 6972677 7798787 27704 32366610 39407092 35174 73173 69793 45186 1860000 4009059 62436 72314 2027403 4199732 X 10548257 13877904 3563119 2251407 16227831 19078049 30339207 35207360 32366610 39407092 X 2347263 1694780 826110 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 16879734 3737656 3254997 233250 918000 22721137 14236322 1684118 1880019 187225 733500 16879734 14336158 430549 350035 180420 700000 14236322 11923185 683847 2504053 168289 585000 21638 14336158 11545346 40550 1241102 69000 638000 196813 11923185 0.50670 0.49330 0 0 7661101 2008047 5653054 798966 496745 302221 163250 98753 64497 6019772 BENEFICIAL INTEREST IN TRUSTS 7798787 F 7798787 DUE TO BENEFICIARIES- CURRENT PORTION 3605 DUE TO BENEFICIARIES- LONG TERM PORTION 16603 CAPITAL LEASE OBLIGATION-LT 42645 CAPITAL LEASE OBLIGATION-CURRENT 9461 72314 X 8547743 1694780 971823 2666603 5881140 27360 27360 5908500 3679590 145713 145713 3533877 27360 27360 3561237 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 HAS NOT BEEN AUDITED BY ANY TAXING AUTHORITY IN RECENT YEARS. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN TO EXAMINATION BY THE IRS AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE NETTED WITH REVENUE 142,768. CHANGE IN BENEFICIAL INTEREST 826,110. RENTAL EXPENSES NETTED WITH REVENUE 2,945. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE NETTED WITH REVENUE 142,768. RENTAL EXPENSES NETTED WITH REVENUE 2,945. 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 $40,583. X X X X X X X 1 SCHULTZ & WILLIAMS - 325 CHESTNUT ST PHILADELPHIA PA 19106 325 CHESTNUT ST PHILADELPHIA PA 19106 PROFESSIONAL FUNDRAISING CONSULTANT 0 2168681 55190 2113491 2168681 55190 2113491 PA NJ GALA AND FUNDRAISING EVENTS 428516 299961 128555 142768 428516 299961 128555 142768 142768 -14213 1 STUDENT AID- EMERGENCY ASSISTANCE 2 1036 FMV N/A STUDENT FELLOWSHIP AWARDS 28 206750 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 120000 0 0 0 0 0 6000 0 32667 0 158667 0 0 0 X 18 441107 FMV ON DATE OF GIFT 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 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 826,110.