2014-02-14T11:26:49-06:00 2013-06-30 410746749 CLIFTONLARSONALLEN LLP 610 WGERMANTOWN PIKE STE400 PLYMOUTH MEETING PA 19462 990 2012-07-01 231352001 THE ACADEMY OF VOCAL ARTS ACAD 2157351685 1920 SPRUCE STREET PHILADEPHIA PA 19103 K JAMES MCDOWELL 2157351685 2014-02-12 1 STEVE ROSA CPA P00079667 2156433900 2012 2015-11-30 17:44:51Z K JAMES MCDOWELL 1920 SPRUCE ST PHIALDELPHIA PA 19103 7655150 0 X WWW.AVAOPERA.ORG X 1936 PA TO PROVIDE VOCAL AND OPERA TRAINING TO YOUNG SINGERS AND PRESENT IN COMMUNITY PERFORMANCES. 34 34 32 36 0 0 4642250 4411471 454753 304517 3066878 1279186 68905 -33866 8232786 5961308 181924 194035 0 0 1597442 1653329 0 0 386289 1314530 1514692 3093896 3362056 5138890 2599252 28437156 32366610 2009596 2027403 26427560 30339207 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 2452003 194035 311488 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 2012-2013 SEASON, THE AVA OPERA THEATER SUCCESSFULLY PRODUCED FOUR FULLY-STAGED OPERA PRODUCTIONS: ROSSINI'S THE BARBER OF SEVILLE, TCHAIKOVSKY'S EUGENE ONEGIN, MASSENET'S DON QUICHOTTE, AND VERDI'S UN BALLO IN MASCHERA, AS WELL AS JUBILATE, A CONCERT OF ORATORIO MASTERPIECES, AND SEVERAL VOCAL RECITALS IN A SEASON THAT DREW OVER 12,000 PATRONS TO ITS PERFORMANCES IN FIVE DIFFERENT VENUES IN GREATER PHILADELPHIA.TEN RECENT GRADUATES RECEIVED CONTRACTS TO PERFORM WITH THE METROPOLITAN OPERA IN NEW YORK CITY, INCLUDING BRYAN HYMEL, ANGELA MEADE, CORINNE WINTERS, MICHAEL FABIANO AS THE NEWEST MEMBERS. OTHER GRADUATES PERFORM IN MAJOR INTERNATIONAL HOUSES THE WORLD OVER.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 THREE OPERAS: BARBER OF SEVILLE, DON QUICHOTTE, AND UN BALLO IN MASCHERA. 2452003 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 82 0 1 32 1 1 1 0 0 0 0 1 1 0 0 0 0 X 34 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA NJ X X SUSAN MOCK 2157351685 1920 SPRUCE STREET PHILADELPHIA PA 19103 BA MACLEAN JR 2.00 X X 0 0 0 SUSAN E KANE 2.00 X X 0 0 0 LUCINDA S LANDRETH 2.00 X X 0 0 0 MARTHA R HURT 2.00 X X 0 0 0 HAROLD F PITCAIRN II 2.00 X X 0 0 0 R RANDOLPH APGAR 2.00 X 0 0 0 JOSEPH D BLAIR 2.00 X 0 0 0 DR CLAIRE BOASI 2.00 X 0 0 0 ROBERT W BOGLE 2.00 X 0 0 0 KAY D BOSSONE 2.00 X 0 0 0 STEPHEN COSTELLO 2.00 X 0 0 0 KRISTIN DAVIDSON 2.00 X 0 0 0 DR ROMEO ABELLA 2.00 X 0 0 0 BARBARA M DONNELLY 2.00 X 0 0 0 ANTHONY FABIANO 2.00 X 0 0 0 KEVIN FROST 2.00 X 0 0 0 ADELE S HEBB 2.00 X 0 0 0 NANCY FABIOLA HERRERA 2.00 X 0 0 0 MARTIN G JANOWIECKI 2.00 X 0 0 0 SANDY LEOPOLD 2.00 X 0 0 0 JIM MCCLELLAND 2.00 X 0 0 0 JOSEPH MCGUIRE ESQ 2.00 X 0 0 0 JULES L MERRON 2.00 X 0 0 0 ELIZABETH A MURPHY 2.00 X 0 0 0 JOHN A NYHEIM 2.00 X 0 0 0 THOMAS B O'ROURKE 2.00 X 0 0 0 DR SCOTT RICHARD 2.00 X 0 0 0 COREY SMITH 2.00 X 0 0 0 ANN R STEPHENSON 2.00 X 0 0 0 SUSAN E SHERMAN 2.00 X 0 0 0 WALTER M STRINE JR ESQ 2.00 X 0 0 0 RICHARD TROXELL II 2.00 X 0 0 0 P JEFFREY WARDEN 2.00 X 0 0 0 CHARLOTTE WATTS 2.00 X 0 0 0 K JAMES MCDOWELL 40.00 X 118000 0 34911 CHRISTOFER MACATSORIS 40.00 X 126667 0 19837 244667 0 54748 2 0 1 0 0 242204 4169267 1899063 4411471 PERFORMANCE AND FEES 711110 304517 304517 304517 1179890 1179890 12133 5162 6971 6971 6971 1643337 1544041 99296 99296 99296 103802 242204 144639 -40837 -40837 5961308 311488 0 1238349 194035 194035 152911 152911 1221038 842463 161158 217417 38328 27890 3241 7197 130675 100404 4359 25912 110377 69444 23011 17922 21361 21361 197496 143134 54362 115717 115717 29332 29332 61883 13837 38822 9224 9063 9063 5397 5397 157812 157812 71790 64980 6810 ORCHESTRA & CHORUS 256049 256049 OTHER PRODUCTION EXPENS 198261 198261 SET DESIGN, CONSTRUCTIO 123814 123814 CAMPAIGN EXPENSES 80974 80974 185743 144163 13937 27643 3362056 2452003 523764 386289 716760 222274 109929 2596891 2331254 18955 8137 141438 85348 8097100 2354160 3750191 5742940 14490296 17003980 6612696 6972677 28437156 32366610 85784 35174 31582 69793 1860000 1860000 32230 62436 2009596 2027403 X 9738014 10548257 3375619 3563119 13313927 16227831 26427560 30339207 28437156 32366610 X 2599252 952414 359981 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 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 13494978 666985 -1920267 696350 11545346 0.46670 0.51970 0.01360 0 0 7292499 1804545 5487954 629810 457082 172728 174791 92533 82258 5742940 BENEFICIAL INTEREST IN PERPETUAL TRUST 6972677 F 6972677 DUE TO BENEFICIARIES- CURRENT PORTION 5567 DUE TO BENEFICIARIES- LONG TERM PORTION 15043 CAPITAL LEASE OBLIGATION-LT 36332 CAPITAL LEASE OBLIGATION-CURRENT 5494 62436 X 7402143 952414 509782 1462196 5939947 21361 21361 5961308 3490496 149801 149801 3340695 21361 21361 3362056 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 2010 TO 2012 ARE OPEN TO EXAMINATION BY THE IRS AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE NETTED WITH REVENUE 144,639. CHANGE IN BENEFICIAL INTEREST 359,981. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSES NETTED AGAINST REVENUE PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENTS EXPENSE NETTED WITH REVENUE 144,639. RENTAL EXPENSES NETTED WITH REVENUE 5,162. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION 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. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE 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 $41,028. X X X X X X X 1 SCHULTZ & WILLIAMS 325 CHESTNUT ST PHILADELPHIA PA 19106 PROFESSIONAL FUNDRAISING CONSULTANT 0 1097037 15206 1081831 1097037 15206 1081831 PA CA DC GALA AND FUNDRAISING EVENTS 346006 242204 103802 144639 346006 242204 103802 144639 144639 -40837 EXPLANATION OF FUNDRAISING PAYMENTS SCHEDULE G, PART I, LINE 2B, COLUMN (V) PROFESSIONAL FUNDRAISING CONSULTANT THAT WAS USED AS AN ADVISOR FOR THE CAPITAL CAMPAIGN. 1 STUDENT AID- EMERGENCY ASSISTANCE 4 8810 FMV N/A STUDENT FELLOWSHIP AWARDS 27 185225 FMV N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 118000 0 0 0 0 0 0 0 34911 0 152911 0 0 0 X 23 1429063 FMV ON DATE OF GIFT X 1 470000 FMV ON DATE OF GIFT 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PRESENTED TO THE FINANCE COMMITTEE, WHICH IN TURN SUBMITS IT TO THE BOARD OF DIRECTORS AFTER REVIEWING THE DOCUMENT. FORM 990, PART VI, SECTION B, LINE 12C ANY MATERIAL FACTS AS TO SUCH FINANCIAL INTEREST SHALL BE DISCLOSED BY SUCH DIRECTOR OR OFFICER TO THE BOARD OR COMMITTEE ENTITLED TO VOTE ON SUCH CONTRACT OR TRANSACTION. THE DIRECTOR OR OFFICER HAVING SUCH FINANCIAL INTEREST ON ANY MATTER SHALL NOT VOTE OR USE ANY PERSONAL INFLUENCE IN REGARD TO THE MATTER (EXCEPT THAT THE DIRECTOR OR OFFICER MAY STATE A POSITION ON THE MATTER AND RESPOND TO QUESTIONS ABOUT IT); HOWEVER, SUCH DIRECTOR OR OFFICER MAY BE COUNTED IN DETERMINING THE QUORUM FOR THE MEETING AT WHICH THE MATTER IS VOTED UPON. THE MINUTES OF THE MEETING SHALL REFLECT THAT THE DISCLOSURE WAS MADE AND THAT SUCH DIRECTOR OR OFFICER ABSTAINED FROM VOTING. NO CONTRACT OR TRANSACTION IN WHICH A DIRECTOR OR OFFICER HAS A FINANCIAL INTEREST SHALL BE KNOWINGLY ENTERED INTO BY THE CORPORATION UNLESS IT HAS BEEN AUTHORIZED IN GOOD FAITH BY BOARD PURSUANT TO SECTION 5728 OR THE NONPROFIT CORPORATION LAW OF 1988, AS AMENDED. FORM 990, PART VI, SECTION B, LINE 15 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. IN ADDITION, A COPY OF THE FINANCIAL STATEMENTS ARE PROVIDED ON THE ACADEMY'S WEBSITE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE OF VALUE OF BENEFICIAL INTEREST 359,981.