2013-05-06T14:46:45-05:00 2012-08-31 131655065 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2011-09-01 131275970 SCHOOL OF AMERICAN BALLET INC SCHO 2127696600 70 LINCOLN CENTER PLAZA NEW YORK NY 100236592 STEPHEN DEWHURST 2127696600 2013-04-30 1 MARTIN BERKOWITZ P00154047 2126972299 2013-04-16 2011 2016-02-25 16:41:14Z MAX R SHULMAN 70 LINCOLN CENTER PLAZA NEW YORK NY 10023 16634529 0 X WWW.SAB.ORG X 1934 NY IN FY 2012, THE SCHOOL OF AMERICAN BALLET PASSED DOWN THE BALANCHINE BALLET TRADITION FROM 16 GIFTED FACULTY MEMBERS TO SOME 693 STUDENTS IN ITS NEW YORK WINTER TERM AND SUMMER COURSE. THESE FACULTY MEMBERS WERE AUGMENTED BY 3 SELECTED NEW YORK CITY BALLET COMPANY MEMBERS WHO PARTICIPATED IN A TEACHER TRAINING PROGRAM AT SAB. AN ADDITIONAL 61 STUDENTS STUDIED WITH SAB TEACHERS IN THE SCHOOL'S TWO-WEEK AUGUST SATELLITE WORKSHOP PROGRAM IN LOS ANGELES, WHERE IT WAS INITIATED IN 2011. IN SEEKING VERY TALENTED STUDENTS, THE SCHOOL CONTINUED ITS LOCAL, NATIONAL AND INTERNATIONAL OUTREACH AND RECRUITMENT EFFORTS. 36 34 162 10 0 0 4888889 5452838 4320714 4522680 1494077 1424807 11410 8495 10715090 11408820 1560459 1574935 0 0 4637139 5087000 0 0 1419243 5888298 5995147 12085896 12657082 -1370806 -1248262 79643910 79928513 10401013 10836948 69242897 69091565 X THE SCHOOL OF AMERICAN BALLET'S MISSION IS TO TRAIN STUDENTS FOR PROFESSIONAL CAREERS IN CLASSICAL BALLET. 0 0 5008571 65000 2046945 TEACHING AND OTHER ARTISTIC PROGRAMSTHE SCHOOL PROVIDES BALLET TRAINING TO STUDENTS AGES 6 TO 19, AT APPROPRIATE LEVELS OF CONCENTRATION. DURING THE WINTER TERM (SEPTEMBER - JUNE), ADVANCED STUDENTS HAVE 38 WEEKS OF CLASSES WITH UP TO 18 HOURS PER WEEK. THE YOUNGEST STUDENTS MEET TWICE WEEKLY FOR AN HOUR FOR 34 WEEKS. DURING FY 2012, 487 STUDENTS WERE ENROLLED DURING WINTER TERM. WINTER TERM CURRICULUM ALSO INCLUDES ADDITIONAL OPPORTUNITIES, PARTICULARLY FOR ADVANCED STUDENTS, INCLUDING A CHOREOGRAPHIC WORKSHOP AND YEAR END PERFORMANCE. THE SCHOOL ALSO OFFERS A 5-WEEK INTENSIVE SUMMER COURSE. 209 STUDENTS TOOK PART IN THE SUMMER PROGRAM DURING FY 2012, REPRESENTING 35 STATES AND 8 FOREIGN COUNTRIES. AN ADDITIONAL 61 STUDENTS ENROLLED IN THE SCHOOL'S TWO-WEEK SUMMER LA WORKSHOP WHERE THEY STUDIED WITH SAB TEACHERS FROM NEW YORK. 1673652 1574935 1349440 STUDENT FINANCIAL AIDTHE SCHOOL PROVIDED OVER $1.7 MILLION IN SCHOLARSHIPS FOR TUITION AND ROOM & BOARD, AND OTHER FINANCIAL ASSISTANCE DURING FY 2012. FINANCIAL AID WAS EXTENDED TO 187 WINTER TERM STUDENTS (MORE THAN 38% OF ENROLLMENT). AMONGST WINTER TERM ADVANCED STUDENTS, THIS ASSISTANCE AMOUNTED TO 51% OF TUITION. ADVANCED STUDENTS ALSO RECEIVED $121,635 IN FINANCIAL SUPPORT FOR HIGH SCHOOL EDUCATION. 75 SUMMER COURSE ATTENDEES RECEIVED FINANCIAL ASSISTANCE (36% OF ENROLLMENT). ALSO 7 LA WORKSHOP STUDENTS RECEIVED FINANCIAL ASSISTANCE. 2941124 0 1064490 STUDENT SERVICES AND RESIDENCETHE SCHOOL PROVIDES SUPPORT SERVICES FOCUSED ON STUDENTS' OVERALL HEALTH AND WELL-BEING, INCLUDING NURSING CARE, NUTRITIONAL COUNSELING, ACADEMIC TUTORING, PILATES TRAINING AND PHYSICAL THERAPY FOR STUDENTS LIVING IN THE RESIDENCE HALL (68 DURING WINTER TERM AND 198 DURING SUMMER COURSE). STAFF MEMBERS PROVIDE ON-GOING SUPERVISION, ALONG WITH SEMINARS AS WELL AS CULTURAL AND SOCIAL ACTIVITIES. 0 0 70300 THE SCHOOL RECEIVED A PROPORTIONATE SHARE OF INCOME FROM THE LINCOLN CENTER SPONSORSHIP OF MERCEDES BENZ FASHION WEEK IN FY 2012. THE REVENUE RECEIVED WAS USED FOR GENERAL PROGRAM SERVICES. 70300 9623347 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 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 52 0 1 162 1 0 0 0 0 0 1 1 0 0 0 0 X 36 34 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 NY X X STEPHEN DEWHURST 2127696608 SCHOOL OF AMERICAN BALLET INC 70 NY NY 10023 ELISABETH M AMSTRONG 1.00 X 0 0 0 ROSEMARY BERKERY HAUSEN 1.00 X 0 0 0 PETER BOAL 1.00 X 0 0 0 CHELSEA V CLINTON 1.00 X 0 0 0 STUART H COLEMAN 1.00 X 0 0 0 LINDA S DAINES 1.00 X 0 0 0 JAMES H DUFFY 1.00 X 0 0 0 FRANCES D FERGUSSON 1.00 X 0 0 0 ROBERT FRIBOURG 1.00 X 0 0 0 HELEN HAJE 1.00 X X 0 0 0 KAREN T HUGHES 1.00 X 0 0 0 SUSANNAH A KAGAN 1.00 X 0 0 0 CORINNE KOPELMAN 1.00 X X 0 0 0 PETER MARTINS 15.00 X X 106050 0 5303 ELIZABETH MCCREERY 1.00 X 0 0 0 ELIZABETH R MILLER 1.00 X 0 0 0 GARFIELD L MILLER III 1.00 X X 0 0 0 RICHARD A MILLER 1.00 X 0 0 0 ARTHUR MITCHELL 1.00 X 0 0 0 STACEY C MORSE 1.00 X 0 0 0 DANIEL PACTHOD 1.00 X 0 0 0 WILLIAM A PERLMUTH 1.00 X 0 0 0 SUZANNE ALLEN REDPATH 1.00 X 0 0 0 CHERRILL EDWINA SHEA 1.00 X 0 0 0 MAX R SHULMAN 15.00 X X 0 0 0 HOWARD SOLOMON 1.00 X 0 0 0 JAMES W STEVENS 1.00 X 0 0 0 HELGI TOMASSON 1.00 X 0 0 0 MARJORIE L VAN DERCOOK 40.00 X X 269321 0 19772 EDWARD VILLELLA 1.00 X 0 0 0 BARBARA MANFREY VOGELSTEIN 1.00 X 0 0 0 JACK T WATTERS 1.00 X 0 0 0 CAROLYN WRIGHT-LEWIS 1.00 X 0 0 0 LAURA ZECKENDORF 1.00 X 0 0 0 KELLIE JOHNSON ABREU 1.00 X 0 0 0 JULIA KOCH 1.00 X 0 0 0 STEPHEN DEWHURST 40.00 X 167082 0 15876 KAY MAZZO BELLAS 40.00 X 164537 0 8227 CARRIE W HINRICHS 40.00 X 141766 0 14610 KATRINA KILLIAN 20.50 X 147108 0 14579 SUSAN PILARRE 16.50 X 131432 0 14001 JOCK SOTO 18.00 X 141428 0 14593 DARCI KISTLER 20.50 X 134025 0 6701 ANDREI KRAMAREVSKY 15.00 X 121860 0 0 1524609 0 113662 10 0 1 0 0 1788244 58250 3606344 5452838 TUITION 611600 2536729 2536729 ROOM AND BOARD FEES 721000 1460302 1460302 STDT. HEALTH INS. FEES 611710 105416 105416 AUDITION REG. FEES 611710 82454 82454 FASHION WEEK INCOME 711190 70300 70300 267479 267479 4522680 541539 541539 5854413 4971145 883268 883268 883268 254564 1788244 254564 0 OTHER REVENUE 900099 8495 8495 8495 11408820 4531175 0 1424807 1574935 1574935 790978 439735 276802 74441 3497365 2644522 289397 563446 146399 118972 11884 15543 357099 266493 26842 63764 295159 216719 36303 42137 3424 3424 3698 3698 67293 67293 257947 257947 121870 362 105099 16409 144981 55237 48076 41668 151524 104176 20527 26821 57895 30953 11144 15798 2211704 1940092 126752 144860 16614 5303 7391 3920 17377 17377 13345 13345 887344 743819 73519 70006 19295 19295 DINING HALL MEAL PLANS 431865 431865 0 0 SPECIAL EVENTS 255633 0 0 255633 STUDENT ACTIVITIES 251713 251713 0 0 WORKSHOP PERFORMANCE 243515 243515 0 0 838110 554936 198377 84797 12657082 9623347 1614492 1419243 382538 594581 1009356 864460 1944044 2161792 14814 28561 104031 83234 40278415 22871852 17897360 17406563 25466975 25620899 32519055 32829109 305737 339314 79643910 79928513 871247 762196 929766 1010508 8600000 8600000 0 464244 10401013 10836948 X 44192803 43231988 427764 627185 24622330 25232392 69242897 69091565 79643910 79928513 X -1248262 1096930 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55536829 749180 2553114 2864515 55974608 54091560 717018 5109007 4380756 55536829 52061625 1651359 3364064 2985488 54091560 60491313 1212229 -6473248 3168669 52061625 0.56950 0.43050 0 0 2067047 2067047 26137913 11577550 14560363 2796901 2332604 464297 9276554 8961698 314856 17406563 BARLOW PARTNERS OFFSHORE 6027633 F WEATHERFLOW OFFSHORE FUND I 3179341 F SILVER CREEK LOW VOL STRATEGIES 3077892 F FORESTER DIVERSIFIED 4305603 F DAVIDSON KEMPNER 2916161 F METROPOLITAN REAL ESTATE PARTNERS 759830 F WELLINGTON STRATEGIC RA CTF 7512495 F GREENLIGHT MASTERS 2505420 F GREENLIGHT CAPITAL 1534516 F MASON CAPITAL 1010218 F 32829109 INTEREST RATE SWAP OBLIGATION 464244 464244 11408820 12657082 -1248262 1096930 1096930 -151332 12247803 1096930 1096930 11150873 257947 257947 11408820 12399135 0 12399135 257947 257947 12657082 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: INCOME FROM THE SCHOOL'S ENDOWMENT FUNDS ARE APPLIED TO ACTIVITIES SUPPORTING ITS MISSION AS A BALLET ACADEMY. CERTAIN FUNDS ARE DESIGNATED TO SUPPORT SPECIFIC PURPOSES AS PER DONOR INTENT, MOST SIGNIFICANTLY SCHOLARSHIP AND FACULTY SALARIES. DURING FY 2012, THE SCHOOL USED A DRAW RATE OF 5% FROM THE ENDOWMENT FUNDS BASED ON THE MARKET VALUES OF ROLLING 20 QUARTERS. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT HAS EVALUATED ALL INCOME TAX POSITIONS, INCLUDING THE POSITION THAT THE SCHOOL IS EXEMPT FROM INCOME TAXES OR NOT SUBJECT TO INCOME TAXES ON UNRELATED BUSINESS INCOME AND CONCLUDED THAT NO DISCLOSURES RELATING TO UNCERTAIN TAX POSITIONS ARE REQUIRED IN THE FINANCIAL STATEMENTS. 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 SAB'S NON-DISCRIMINATION POLICY STATEMENT IS AS FOLLOWS: THE SCHOOL OF AMERICAN BALLET ADMITS STUDENTS OF ANY RACE, COLOR, SEXUAL ORIENTATION, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, SEXUAL ORIENTATION, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATION POLICIES, ADMISSION POLICIES, SCHOLARSHIP PROGRAMS OR ANY OTHER SCHOOL ADMINISTERED PROGRAMS. THIS STATEMENT WAS INCLUDED IN FULL IN THE FOLLOWING ADVERTISING AND PROMOTIONAL MATERIALS: --FULL PAGE ADVERTISEMENTS IN 4 NEW YORK METRO AREA NEWSPAPERS (HARLEM NEWS, QUEENS NEWS, BROOKLYN NEWS AND BRONX NEWS) PROMOTING AUDITIONS FOR NEW STUDENTS --18-PAGE PROMOTIONAL BROCHURE DISTRIBUTED TO EVERY STUDENT IN THE US WHO ATTENDED AN AUDITION FOR SAB'S 5-WEEK SUMMER COURSE (APPROXIMATELY 2000 DISTRIBUTED) (CONTINUED ON SCEDULE O) EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 DURING FY 2012, THE SCHOOL WAS AWARDED GRANTS FROM THE NEW YORK CITY DEPT. OF CULTURAL AFFAIRS AND FROM THE NEW YORK STATE COUNCIL ON THE ARTS TO SUPPORT PROGRAM ACTIVITIES IN FY 2012. IN ADDITION, IN FY 2012, THE SCHOOL RECOGNIZED A GRANT FROM THE NATIONAL ENDOWMENT FOR THE ARTS (NEA) THAT HAD BEEN AWARDED DURING FY 2011 TO SUPPORT FY 2012 PROGRAMS. WINTER BALL 955440 854938 100502 100502 WORKSHOP BENEFIT 727861 645434 82427 82427 2 359507 287872 71635 71635 2042808 1788244 254564 254564 254564 0 1 TUTION AND ROOM & BOARD SCHOLARSHIPS 269 1348315 BOOK FINANCIAL AID TRAVEL STIPENDS 26 6995 BOOK FINANCIAL AID ACADEMIC SCHOOL SCHOLARSHIPS 29 153500 BOOK FINANCIAL AID WIEN AWARDS FOR EXCELLENCE 5 65000 BOOK AWARD MUSIC SCHOLARSHIP 2 1125 BOOK FINANCIAL AID PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: GRANT FUNDS ARE SOLELY FOR THE PURPOSE OF PROVIDING FINANCIAL ASSISTANCE TO STUDENTS ENROLLED AT THE SCHOOL OF AMERICAN BALLET, FINANCIAL ASSISTANCE IS LARGELY DIRECTED TO AID WITH COSTS OF TUITION AND ROOM & BOARD. FINANCIAL AID GRANTS FOR TUITION AND ROOM & BOARD ARE CREDITED DIRECTLY TO STUDENTS' ACCOUNTS; THERE IS NO CASH DISTRIBUTION. MODEST TRAVEL STIPENDS ARE RELEASED ONLY UPON RECEIPT OF EXPENSE DOCUMENTATION. X X X X 0 0 0 0 0 0 0 0 0 MARJORIE L VAN DERCOOK 247321 0 0 0 22000 0 12250 0 7522 0 289093 0 0 0 STEPHEN DEWHURST 145082 0 0 0 22000 0 8354 0 7522 0 182958 0 0 0 KAY MAZZO BELLAS 164537 0 0 0 0 0 8227 0 0 0 172764 0 0 0 CARRIE W HINRICHS 141766 0 0 0 0 0 7088 0 7522 0 156376 0 0 0 KATRINA KILLIAN 147108 0 0 0 0 0 7057 0 7522 0 161687 0 0 0 JOCK SOTO 141428 0 0 0 0 0 7071 0 7522 0 156021 0 0 0 THE TRUST FOR CULTURAL RESOURCES OF NYC 911882413 898328AF6 2006-08-08 8600000 IMPROVEMENTS ON SAB BUILDING 0 0 0 8769634 645735 172000 64064 7827073 60763 2010 0 0 1 1 0 1 0 0 0.00000 0.00000 0.00000 1 1 1 0 NA 0 0 0 1 0 DIFFERENCE BETWEEN PART I(E) AND PART II QUESTION 3 IS DUE TO INTEREST EARNED ON BOND PROCEEDS PART III LINE 2 - THE SCHOOL HAS ENTERED INTO VARIOUS ARRANGEMENTS WHICH ARE RELATED TO ITS EXEMPT PURPOSES AND WHICH SATISFY THE 50 DAY RULE REQUIREMENTS OF SECTION 1.141-3(D)(3)(II) OF THE TREASURY REGULATIONS X 20 207726 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11 IN ADVANCE OF SUBMITTING THE SCHOOL'S FISCAL YEAR 2012 FORM 990, IT WAS INITIALLY REVIEWED BY THE CHIEF FINANCIAL OFFICER AND THE EXECUTIVE DIRECTOR, BOTH OF WHOM ARE OFFICERS. ONCE FINALIZED, THE NEXT STEP IN THE REVIEW PROCESS WAS DISTRIBUTION TO THE SCHOOL'S BUDGET, AUDIT AND COMPENSATION COMMITTEE, CHAIRMAN OF THE BOARD, AND TREASURER. THESE INDIVIDUALS WERE ALL INVITED TO COMMENT PRIOR TO SUBMISSION OF THE FORM 990. THE FINAL STEP WAS DISTRIBUTION TO ALL MEMBERS OF THE SCHOOL'S BOARD OF DIRECTORS WHO ALSO HAD TIME TO OFFER COMMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE SCHOOL REQUIRES DISCLOSURE AT THE TIME THAT A TRANSACTION IS BEING CONSIDERED OF ANY INTEREST THAT A DIRECTOR, OFFICER OR EMPLOYEE MAY HAVE IN THE TRANSACTION. SHOULD A TRANSACTION INVOLVE BOARD APPROVAL, ANY INTERESTED PARTY IS REQUIRED TO RETIRE FROM THE MEETING DURING THE DECISION MAKING OF THE MATTER UNDER CONSIDERATION. FUTHERMORE, THE SCHOOL HAS A DETAILED CONFLICT OF INTEREST QUESTIONNAIRE THAT IS REQUIRED OF ALL DIRECTORS, OFFICERS AND KEY EMPLOYEES ANNUALLY. FORM 990, PART VI, SECTION B, LINE 14: WHILE OBSERVING GENERALLY ACCEPTED RECORDS RETENTION GUIDELINES, THE SCHOOL IS FINALIZING A POLICY THAT WILL BE SPECIFIC TO THE SCHOOL'S OPERATIONS. FORM 990, PART VI, SECTION B, LINE 15 THE SCHOOL REVIEWS COMPENSATION OF KEY EMPLOYEES ANNUALLY, WITH THE EXCEPTION OF THE EXECUTIVE DIRECTOR WHO CURRENTLY HAS A CONTRACT SPANNING SEPTEMBER 1, 2010, THROUGH AUGUST 31, 2013. COMPENSATION REVIEWS UTILIZE COMPARABILITY DATA FROM A NUMBER OF SIMILAR ORGANIZATIONS. THE INDEPENDENT REVIEW OF THIS INFORMATION IS DONE BY THE EXECUTIVE COMMITTEE IN THE CASE OF THE EXECUTIVE DIRECTOR AND THE CHAIRMAN OF FACULTY AND BY THE BUDGET, AUDIT AND COMPENSATION COMMITTEE FOR OTHER KEY EMPLOYEES, SPECIFICALLY CO-CHAIR OF FACULTY, CHIEF FINANCIAL OFFICER AND DIRECTORS OF DEVELOPMENT, PUBLIC RELATIONS AND STUDENT LIFE. THESE REVIEWS ARE DONE IN EXECUTIVE SESSION OF THE RESPECTIVE COMMITTEE AND, DUE TO THE CONFIDENTIAL NATURE OF THE INFORMATION, ARE NOT DOCUMENTED IN MEETING MINUTES. THE POSITIONS WERE REVIEWED AS FOLLOWS: EXECUTIVE DIRECTOR - AT TIME OF CONTRACT RENEWAL IN SEPTEMBER 2010; OTHER KEY EMPLOYEES - IN 2011 DURING FY 2012 BUDGET PREPERATION. FORM 990, PART VI, SECTION C, LINE 19 THE SCHOOL MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC BY POSTING THEM ON ITS WEBSITE; HARD COPIES ARE ALSO AVAILABLE UPON REQUEST. COPIES OF THE SCHOOL'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE PROVIDED TO THE PUBLIC UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 1,096,930. CONTINUATION - EXPLANATION OF NONDISCRIMINATION POLICY --SCHOOL YEAR SCHEDULE / CALENDAR DISTRIBUTED TO THE ENTIRE WINTER TERM STUDENT BODY --SAB WEBSITE (SAB.ORG) ADMISSIONS SECTION --THE SCHOOL'S EMPLOYEE HANDBOOK, DISTRIBUTED TO ALL FULL AND PART-TIME EMPLOYEES