2014-11-03T12:12:28-06:00 2014-06-30 251408703 SCHNEIDER DOWNS & CO INC ONE PPG PLACE SUITE 1700 PITTSBURGH PA 15222 990 2013-07-01 237101094 PITTSBURGH BALLET THEATRE INC PITT 4122810360 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 HARRIS FERRIS EXECUTIVE DIRECTOR 4122810360 2014-10-08 1 SUSAN M KIRSCH P00341397 4122613644 2013 2015-11-30 17:44:51Z HARRIS FERRIS 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 11868131 0 X WWW.PBT.ORG X 1969 PA THE ORGANIZATION IS COMMITTED TO THE DEVLOPMENT OF AN INTERNATIONALLY RECOGNIZED BALLET COMPANY. 46 45 224 50 48900 0 4814476 5256975 4202784 4427940 420204 341675 -23058 -24524 9414406 10002066 343693 428337 0 0 2961692 3336835 0 0 744716 4878664 4880926 8184049 8646098 1230357 1355968 14955858 17197116 2634219 2516316 12321639 14680800 X SEE SCHEDULE O FOR THE DESCRIPTION OF PITTSBURGH BALLET THEATRE INC.'S PRIMARY MISSION.COMMUNITY BASED AND INTERNATIONALLY RECOGNIZED PROFESSIONAL BALLET COMPANY THAT PERFORMS TRADITIONAL AND CONTEMPORARY BALLETS AND DEVELOPS INNOVATIVE NEW WORKS. SEEKS TO PERPETUATE EXCELLENCE IN THE ART OF BALLET THROUGH PERFORMANCES, SUPERIOR TRAINING OF STUDENT DANCERS AND COMMUNITY ENGAGEMENT INITIATIVES. 0 0 5750792 0 2548996 PRODUCTION AND PERFORMANCE OF BALLET - EXPOSE AUDIENCES, BOTH IN PITTSBURGH AND ON TOUR, TO WORLD-CLASS BALLET THROUGH PRESENTATION OF TRADITIONAL BALLETS BY LEGENDARY MASTERS AND THE COMMISSION AND PRESENTATION OF NEW WORKS BY INNOVATIVE CHOREOGRAPHERS. 1029436 428337 1867816 SCHOOL - 823 STUDENTS ARE ENROLLED IN THE PROGRAM WHICH ATTRACTS, DEVELOPS AND RETAINS EXCELLENT DANCERS. 383575 0 0 ART EDUCATION - THE PUBLIC, INCLUDING UNDERSERVED COMMUNITIES, IS ENRICHED THROUGH QUALITY EXPERIENCES, DANCE EDUCATION, AND PROGRAMS OF ENGAGEMENT IN THE ART OF BALLET. 7163803 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 39 3 1 224 1 1 1 0 0 0 0 1 1 0 0 0 0 X 46 45 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 PA MD NY OH WV X JAY ROMANO 4124549112 2900 LIBERTY AVENUE PGH PA 152011500 X EDWIN BEACHLER TRUSTEE 0.10 0.00 X 0 0 0 BETH O BROWN TRUSTEE 0.10 0.00 X 0 0 0 HOLLY BRUBACH TRUSTEE 0.10 0.00 X 0 0 0 DAVID BUSH TRUSTEE 0.10 0.00 X 0 0 0 CAROLYN M BYHAM TRUSTEE 0.10 0.00 X 0 0 0 CHRISTINE CAMSUZOU TRUSTEE 0.10 0.00 X 0 0 0 SEAN CASSIDY TRUSTEE 0.10 0.00 X 0 0 0 JAY COSTA JR TRUSTEE 0.10 0.00 X 0 0 0 SUSAN CRUZ TRUSTEE (EXITED 02/2014) 0.10 0.00 X 0 0 0 DEBRA DERMODY ESQ TRUSTEE 0.10 0.00 X 0 0 0 DAWN FLEISHNER TRUSTEE (ENTERED 10/2013) 0.10 0.00 X 0 0 0 JAMES TOMLINSON FORT TRUSTEE 0.10 0.00 X 0 0 0 FREDDIE H FU MD TRUSTEE 0.10 0.00 X 0 0 0 JEANNE GLEASON TRUSTEE 0.10 0.00 X 0 0 0 KRISTINE SORENSEN GRIFFIN TRUSTEE 0.10 0.00 X 0 0 0 JAMES H HARDIE TRUSTEE 0.10 0.00 X 0 0 0 DONA HOTOPP TRUSTEE 0.10 0.00 X 0 0 0 DONALD JOHNSTON TRUSTEE (ENTERED 02/2014) 0.10 0.00 X 0 0 0 ROBERT KORMOS MD TRUSTEE 0.10 0.00 X 0 0 0 DOUG KREPS TRUSTEE 0.10 0.00 X 0 0 0 SUSAN LEONE TRUSTEE (EXITED 08/2014) 0.10 0.00 X 0 0 0 DEMETRIOS MAHRAMAS TRUSTEE 0.10 0.00 X 0 0 0 PEGGY MCNIGHT TRUSTEE 0.10 0.00 X 0 0 0 LEROY L METZ II TRUSTEE 0.10 0.00 X 0 0 0 JOHN PIPPY TRUSTEE (EXITED 04/2014) 0.10 0.00 X 0 0 0 MARK POPOVICH TRUSTEE 0.10 0.00 X 0 0 0 RICHARD E RAUH TRUSTEE 0.10 0.00 X 0 0 0 MARYANN REABE TRUSTEE 0.10 0.00 X 0 0 0 DIANA REID TRUSTEE 0.10 0.00 X 0 0 0 LISA SAPERSTEIN TRUSTEE 0.10 0.00 X 0 0 0 VINCENT SILVAGGIO MD TRUSTEE 0.10 0.00 X 0 0 0 MATT SMITH TRUSTEE (ENTERED 02/2014) 0.10 0.00 X 0 0 0 SHELLEY TAYLOR TRUSTEE 0.10 0.00 X 0 0 0 BECKY TORBIN TRUSTEE 0.10 0.00 X 0 0 0 COLLEEN TRAVIS TRUSTEE 0.10 0.00 X 0 0 0 DAVID F TUTHILL TRUSTEE 0.10 0.00 X 0 0 0 HILARY S TYSON TRUSTEE 0.10 0.00 X 0 0 0 ANN SCHWAB VAUGHN TRUSTEE 0.10 0.00 X 0 0 0 RANDY VULAKOVICH TRUSTEE 0.10 0.00 X 0 0 0 JESSE WARREN TRUSTEE (ENTERED 04/2014) 0.10 0.00 X 0 0 0 WINTHROP WATSON TRUSTEE 0.10 0.00 X 0 0 0 MARKUS WEBER TRUSTEE 0.10 0.00 X 0 0 0 PRIDE WINKENWERDER TRUSTEE (ENTERED 04/2014) 0.10 0.00 X 0 0 0 BOB WYCHE TRUSTEE 0.10 0.00 X 0 0 0 JAMES E CROCKARD III CHAIR 0.10 0.00 X X 0 0 0 MICHAEL LAROCCO VICE CHAIR 0.10 0.00 X X 0 0 0 MICHAEL J HAVER TREASURER 0.10 0.00 X X 0 0 0 KATHLEEN MICLOT SECRETARY 0.10 0.00 X X 0 0 0 TERRENCE ORR ARTISTIC DIRECTOR 40.00 0.00 X 183238 0 10501 HARRIS FERRIS EXECUTIVE DIRECTOR 40.00 0.00 X 192330 0 18352 JAY ROMANO FINANCE DIRECTOR 40.00 0.00 X 115153 0 6587 LOIS WHOLEY DIRECTOR OF DEVELOPMENT-ENTERED 1/13 40.00 0.00 X 107785 0 7646 598506 0 43086 4 0 1 0 JENDOCO CONSTRUCTION 2000 LINCOLN ROAD PITTSBURGH PA 15235 CONSTRUCTION - NEW PARKING LOT 227505 CHATHAM UNIVERSITY WOODLAND ROAD PITTSBURGH PA 15232 SUMMER STUDENT HOUSING 139008 RAFF PRINTING INC PO BOX 42365 PITTSBURGH PA 15203 PRINTED MATERIALS BROCHURES, PAMPHLETS - 106808 3 306680 225611 4724684 251485 5256975 PERFORMANCE TICKET 711190 2434264 2434264 SCHOOL TUITION 611710 1867816 1867816 BALLET COMPANY TOURING INCOME 711190 44632 44632 PROGRAM ADVERTISING 541800 43708 43708 COSTUMES & SET INCOME 711190 24225 24225 13295 13295 4427940 207001 207001 1810191 1675517 134674 134674 134674 60181 306680 133980 -73799 -73799 21140 9637 11503 11503 84703 46931 37772 32580 5192 10002066 4416812 48900 279379 428337 428337 519977 191624 276028 52325 2180427 1679331 158454 342642 69977 57952 4454 7571 372665 284937 36402 51326 193789 137180 28280 28329 10218 10218 36794 36794 12092 12092 66740 66740 21283 2408 1590 17285 563754 563754 78686 27495 4835 46356 32622 11620 7671 13331 138965 54127 82217 2621 15841 4991 3295 7555 23139 5087 3359 14693 30347 30347 331775 327673 1769 2333 47593 23436 15473 8684 DIRECT PRODUCTION 1820535 1820535 SCHOOL EXPENSE 1029436 1029436 GENERAL PRODUCTION 182266 182266 ARTS EDUCATION 119716 119716 319124 181551 137573 8646098 7163803 737579 744716 297270 1078584 890840 151107 872480 2079647 27095 35479 12977 11269 348749 349808 11748390 7784736 3754159 3963654 8155450 8905958 361642 388793 235196 232817 14955858 17197116 236417 178340 1252631 1230347 1145171 1107629 2634219 2516316 X 1060345 836040 2659528 3705340 8601766 10139420 12321639 14680800 14955858 17197116 1355968 1003193 0 X X 0 1 X 1 0 X 4166617 3503810 3450928 4814476 5256975 21192806 4166617 3503810 3450928 4814476 5256975 21192806 1973436 19219370 53885 75301 55881 300018 207001 692086 350 350 21885242 19941304 0.87820 0.87750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12092 12092 8634006 8646098 582305 145576 0 0 527185 556281 559202 582305 2224973 3337460 6294 6291 8789 12092 33466 131796 139070 139801 145576 556243 834365 8177528 850250 1231198 571000 9687976 7726636 1008892 558000 8177528 8627492 10000 -369856 541000 7726636 7611114 50000 1516378 550000 8627492 6985570 1239044 613500 7611114 1.00000 0 0 1058035 1058035 7194939 6415572 779367 759187 59506 699681 2736229 1309658 1426571 3963654 X 11362370 1003193 233303 190548 1427044 9935326 66740 66740 10002066 9003209 233303 190548 423851 8579358 66740 66740 8646098 PART V, LINE 4: THE BALLET'S ENDOWMENT CONSISTS OF DONOR-RESTRICTED INVESTMENT FUNDS ESTABLISHED FOR PERPETUAL SUPPORT OF THE ORGANIZATION'S MISSION. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BALLET TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. THE BOARD OF DIRECTORS OF THE BALLET HAS ELECTED TO BE GOVERNED BY THE COMMONWEALTH OF PENNSYLVANIA'S ACT 141 (ACT 141). ACT 141 IS A TOTAL RETURN POLICY THAT ALLOWS A NONPROFIT TO CHOOSE TO TREAT A PERCENTAGE OF THE AVERAGE MARKET VALUE OF THE ENDOWMENT'S PERMANENTLY RESTRICTED INVESTMENTS AS INCOME EACH YEAR. HOWEVER, THE LONG-TERM PRESERVATION OF THE REAL VALUE OF THE ASSETS MUST BE TAKEN INTO CONSIDERATION WHEN THE BOARD ELECTS THE AMOUNT. ON AN ANNUAL BASIS, THE BOARD, MUST ELECT A SPENDING RATE OF BETWEEN 2% AND 7%. IN ACCORDANCE WITH ACT 141, AND TO COMPLY WITH A DONOR-IMPOSED RESTRICTION, THE BALLET ANNUALLY TRANSFERS NO MORE THAN 5% OF THE PREVIOUS YEARS' MARKET VALUE AVERAGE OF THE ENDOWMENT FUND. FOR THE YEAR ENDED JUNE 30, 2014 AND 2013, THE BALLET OBTAINED THE DONOR'S PERMISSION TO INCREASE THE MAXIMUM INVESTMENT DRAW PERCENTAGE TO 7%. THIS PERCENTAGE IS APPLIED TO A THREE-YEAR AVERAGE MARKET VALUE OF THE INVESTMENTS AT JUNE 30TH OF THE PREVIOUS YEAR. THE BALLET CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS THE ORIGINAL AND SUBSEQUENT VALUE OF THE GIFTS DONATED TO THE PERMANENT ENDOWMENT. IN ACCORDANCE WITH ACT 141, THE BALLET HAS ADOPTED A WRITTEN INVESTMENT POLICY, OF WHICH A SECTION SPECIFICALLY RELATES TO THE ENDOWMENT FUND. THE BALLET CONSIDERS THE FOLLOWING FACTORS IN MAKING A DETERMINATION TO SET A SPENDING RATE: 1. PROTECTING THE CORPUS OF THE ENDOWMENT FUND. 2. PRESERVING THE SPENDING POWER OF THE ASSETS. 3. OBTAINING MAXIMUM INVESTMENT RETURN WITH REASONABLE RISK AND OPERATIONAL CONSIDERATION. 4. COMPLYING WITH APPLICABLE LAWS AND DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE BALLET IS A NONPROFIT ORGANIZATION EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS RECORDED IN THE FINANCIAL STATEMENTS. THE BALLET`S STATEMENT OF FINANCIAL POSITION AT JUNE 30, 2014 AND 2013 DOES NOT INCLUDE ANY LIABILITIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS; FURTHER, THE BALLET HAS NO UNRECOGNIZED TAX BENEFITS. THERE WERE NO INTEREST OR PENALTIES RECOGNIZED IN THE STATEMENT OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2014 AND 2013. THE BALLET IS NO LONGER SUBJECT TO EXAMINATIONS OF ITS TAX RETURNS FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 133,980. GAMING EXPENSES 9,637. COST OF GOODS SOLD 46,931. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 133,980. GAMING EXPENSES 9,637. COST OF GOODS SOLD 46,931. ANNUAL BALL 366861 306680 60181 10578 76301 18010 29091 366861 306680 60181 10578 76301 18010 29091 133980 -73799 21140 9000 637 1 1.00000 21140 9000 637 9637 11503 PA 1 0 0 0 1.00000 JAY ROMANO 2900 LIBERTY AVE PITTSBURGH PA 152011500 0 JAY ROMANO RECORDKEEPING AND SUPERVISION OF THE GAMING ACTIVITIES X 0 1 TUITION SCHOLARSHIP 137 314137 0 N/A N/A HOUSING ASSISTANCE 41 102225 0 N/A N/A TUITION FINANCIAL AID 13 11975 0 N/A N/A PART I, LINE 2: STUDENTS IN LEVEL V+ ARE ELIGIBLE TO APPLY FOR FINANCIAL AID (OR AGES 12+ FOR THE INTENSIVE SUMMER PROGRAM). ALL OF PITTSBURGH BALLET THEATRE'S ("PBT") FINANCIAL AID AWARDS ARE CONSIDERED 'WORK-STUDY' AWARDS WHEREBY TUITION REDUCTION OF THIS TYPE MAY CARRY AN OBLIGATION FOR THE STUDENT TO COMPLETE ASSIGNED TASKS THROUGHOUT THE YEAR. FINANCIAL ASSISTANCE IS LIMITED AND NOT GUARANTEED. AN APPLICATION IS REVIEWED AND CONSIDERED ONLY AFTER A STUDENT IS OFFICIALLY REGISTERED FOR THE PROGRAM (THE SCHOOL HAS RECEIVED REGISTRATION FORM, MEDICAL COVERAGE INFORMATION, AND APPLICABLE NON-REFUNDABLE TUITION DEPOSIT). FAILURE TO RECEIVE A WORK-STUDY AWARD WILL NOT RESULT IN REFUND OF TUITION DEPOSIT. ONE APPLICATION MAY BE SUBMITTED PER FAMILY. THE MOST RECENT TAX RETURN MUST ACCOMPANY THE APPLICATION FOR CONSIDERATION. IF THE PARENTS ARE SEPARATED OR DIVORCED, THE TAX RETURN OF THE PARENT WITH WHOM THE CHILD RESIDES MUST BE SUBMITTED. THE COMPLETED FORM MUST REACH THE PBT SCHOOL OFFICE BY A CERTAIN DATE (WHICH VARIES FROM YEAR TO YEAR) FOR CONSIDERATION. IF AN APPLICATION IS RECEIVED LATER THAN THE DATE INDICATED IT MAY NOT BE CONSIDERED. FINANCIAL AID AWARDS VARY FROM $0 - $2,000 ANNUALLY. NOT ALL APPLICANTS RECEIVE THE SAME AMOUNT AS ONE ANOTHER. AWARDS ARE SUBJECT TO THE TOTAL AMOUNT THE SCHOOL HAS TO DISTRIBUTE EACH YEAR, WHICH VARIES, AND BY THE INFORMATION PROVIDED IN THE APPLICATION/SUPPLEMENTAL MATERIALS. IF A STUDENT DOES NOT RECEIVE FINANCIAL AID FOR A PARTICULAR PROGRAM, THEY ARE WELCOME TO SUBMIT FINANCIAL AID APPLICATIONS FOR FUTURE PBT PROGRAMS, BUT FINANCIAL AID IS NOT NECESSARILY GUARANTEED FOR FUTURE PROGRAMS. IN AN EFFORT TO PROMOTE INCREASED PARTICIPATION OF YOUNG MALES IN THE ART FORM, THE PITTSBURGH BALLET THEATRE HAS DEVELOPED A PROGRAM OF TUITION AND HOUSING ASSISTANCE THAT DIMINISHES THE BARRIER FOR MALE BALLET STUDENTS WITH TUITION ASSISTANCE AND, IN SOME CASES, HOUSING ASSISTANCE. THE PROCESS OF AWARDING THESE SCHOLARSHIPS INVOLVES AN AUDITION AND REVIEW BY SCHOOL DIRECTORS. STUDENTS ARE ACCEPTED OR REJECTED BASED ON THEIR EVALUATION AND AWARDED TUITION AND HOUSING SCHOLARSHIPS ACCORDINGLY. X X X X 0 0 0 0 0 0 0 0 0 TERRENCE ORR ARTISTIC DIRECTOR 183238 0 0 0 0 0 5497 0 5004 0 193739 0 0 0 HARRIS FERRIS EXECUTIVE DIRECTOR 192330 0 0 0 0 0 5770 0 12582 0 210682 0 0 0 X 8 226827 FMV X LUNCHEON ITEM 3 12341 FMV X BALLET SHOES 1 9852 FMV X UNREIMBURSED 1 2465 FMV 0 0 0 0 FORM 990, PART VI, SECTION B, LINE 11 THE DRAFT FORM 990, 990-T AND REQUIRED SCHEDULES ARE REVIEWED BY THE ORGANIZATION'S INTERNAL MANAGEMENT AS WELL AS THE BOARD'S FINANCE AND AUDIT COMMITTEE. UPON COMPLETION OF THIS REVIEW, THE PUBLIC DISCLOSURE COPY IS PROVIDED TO THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, OFFICERS, DIRECTORS AND KEY EMPLOYEES RECEIVE A COPY OF THE ORGANIZATION'S EXISTING CONFLICT OF INTEREST POLICY ALONG WITH A CONFLICT OF INTEREST DISCLOSURE FORM FOR COMPLETION. CONFLICT OF INTEREST STATEMENTS ARE REVIEWED AND UPDATED BY THE GOVERNANCE COMMITTEE ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S COMPENSATION IS COMPARED WITH OTHER LOCAL ART ORGANIZATIONS AS WELL AS WITH OTHER BALLET COMPANIES THAT ARE SIMILAR IN SIZE AND HAVE THE SAME DEMOGRAPHICS. THE BALLET IS ALSO A MEMBER OF DANCE USA WHICH PROVIDES COMPENSATION DATA FOR BALLET COMPANIES AROUND THE UNITED STATES BY BUDGET SIZE. FORM 990, PART VI, SECTION C, LINE 19 A COPY OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY, GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VII, NON-VOTING MEMBERS: LOTI GAFFNEY, TRUSTEE EMERITUS AND VIOLETTE VERDY, HONORARY TRUSTEE. FORM 990, PART XII, LINE 2C, FINANCIAL STATEMENTS AND REPORTING: THE THEATRE'S FINANCIAL STATEMENTS ARE AUDITED BY AN INDEPENDENT ACCOUNTING FIRM. IN ADDITION, THE THEATRE HAS A COMMITTEE THAT ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND ITS SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PITTSBURGH BALLET THEATRE CHARITABLE FOUNDATION 2900 LIBERTY AVENUE PITTSBURGH PA 15201 251479790 TO PROVIDE PERFORMANCE & STORAGE FACILITIES FOR PBT PA 501(C)(3) LINE 11C, III-FI N/A 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0