2012-07-13T13:16:43-05:00 2011-08-31 LUTZ AND CARR CPAS LLP 300 EAST 42ND STREET NEW YORK NY 10017 990 2010-09-01 131275970 SCHOOL OF AMERICAN BALLET INC SCHO 2127696600 70 LINCOLN CENTER PLAZA NEW YORK NY 100236592 STEPHEN DEWHURST 2127696600 2012-07-13 1 MARTIN BERKOWITZ 2126972299 2010 2016-02-24 21:20:13Z ROBERT FRIBOURG 70 LINCOLN CENTER PLAZA NEW YORK NY 10023 24193011 0 X WWW.SAB.ORG X 1934 NY IN FY 2011, THE SCHOOL OF AMERICAN BALLET PASSED DOWN THE BALANCHINE BALLET TRADITION FROM 16 GIFTED FACULTY MEMBERS TO SOME 664 STUDENTS IN ITS NEW YORK WINTER TERM AND SUMMER COURSE. DURING FY 2011, THE SCHOOL STARTED ITS FIRST SATELLITE PROGRAM WITH A TWO-WEEK WORKSHOP PROGRAM IN LOS ANGELES WHERE AN ADDITIONAL 70 STUDENTS STUDIED WITH SAB TEACHERS. IN SEEKING VERY TALENTED STUDENTS, THE SCHOOL CONTINUED ITS LOCAL, NATIONAL AND INTERNATIONAL OUTREACH AND RECRUITMENT EFFORTS. 36 34 155 10 0 0 4113118 4888889 3874916 4320714 3967551 1494077 7316 11410 11962901 10715090 1554226 1560459 0 0 4414233 4637139 0 0 1336217 5564076 5888298 11532535 12085896 430366 -1370806 77002745 79643910 10300063 10401013 66702682 69242897 X THE SCHOOL OF AMERICAN BALLET'S MISSION IS TO TRAIN STUDENTS FOR PROFESSIONAL CAREERS IN CLASSICAL BALLET. 1 0 4785429 50000 1914492 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 2011, 431 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. 233 STUDENTS TOOK PART IN THE SUMMER PROGRAM DURING FY 2011, REPRESENTING 31STATES AND 7 FOREIGN COUNTRIES. THE SCHOOL INITIATED A TWO-WEEK SUMMER LA WORKSHOP IN WHICH AN ADDITIONAL 70 STUDENTS STUDIED WITH SAB TEACHERS. 1634168 1510459 1372381 STUDENT FINANCIAL AIDTHE SCHOOL PROVIDED OVER $1.6 MILLION IN SCHOLARSHIPS FOR TUITION AND ROOM & BOARD, AND OTHER FINANCIAL ASSISTANCE DURING FY 2011. FINANCIAL AID WAS EXTENDED TO 188 WINTER TERM STUDENTS (NEARLY 44% OF ENROLLMENT). AMONGST WINTER TERM ADVANCED STUDENTS, THIS ASSISTANCE AMOUNTED TO 59% OF TUITION. 105 SUMMER COURSE ATTENDEES RECEIVED FINANCIAL ASSISTANCE (NEARLY 45% OF ENROLLMENT). ALSO 4 LA WORKSHOP STUDENTS RECEIVED FINANCIAL ASSISTANCE. 2886907 975715 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 (62 DURING WINTER TERM AND 218 DURING SUMMER COURSE). STAFF MEMBERS PROVIDE ON-GOING SUPERVISION, ALONG WITH SEMINARS AS WELL AS CULTURAL AND SOCIAL ACTIVITIES. 69536 THE SCHOOL RECEIVED A PROPORTIONATE SHARE OF INCOME FROM THE LINCOLN CENTER SPONSORSHIP OF MERCEDES BENZ FASHION WEEK IN FY 2011. THE REVENUE RECEIVED WAS USED FOR GENERAL PROGRAM SERVICES. 69536 9306504 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 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 44 0 1 155 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 0 1 1 1 0 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 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 15.00 X X 0 0 0 HELEN HAJE 1.00 X X 0 0 0 KAREN T HUGHES 1.00 X 0 0 0 PAMELA J JOYNER 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 101250 0 5083 ELIZABETH MCCREERY 1.00 X 0 0 0 ELIZABETH R MILLER 1.00 X 0 0 0 GARFIELD L MILLER III 1.00 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 1.00 X 0 0 0 LEE SLAUGHTER 1.00 X 0 0 0 HOWARD SOLOMON 1.00 X 0 0 0 JAMES W STEVENS 1.00 X X 0 0 0 HELGI TOMASSON 1.00 X 0 0 0 MARJORIE L VAN DERCOOK 40.00 X X 257226 0 37361 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 STEPHEN DEWHURST 40.00 X 155720 0 16652 KAY MAZZO BELLAS 40.00 X 157487 0 7907 CARRIE W HINRICHS 40.00 X 120563 0 17402 KATRINA KILLIAN 20.50 X 129955 0 20239 SUSAN PILARRE 15.00 X 110184 0 13664 JOCK SOTO 15.00 X 128812 0 13321 1161197 0 131629 8 0 1 0 0 1790658 20000 3078231 4888889 TUITION 611600 2344179 2344179 ROOM AND BOARD FEES 721000 1383568 1383568 SYMPHONY IN C 611710 94175 94175 STDT. HEALTH INS. FEES 611710 90492 90492 WORKSHOP TICKETS FEES 611710 82545 82545 325755 325755 4320714 780772 780772 13915254 13201949 713305 713305 713305 275972 1790658 275972 0 OTHER REVENUE 900099 11410 11410 11410 10715090 4332124 0 1494077 1560459 1560459 759766 416652 267297 75817 3178773 2425424 248093 505256 131381 112738 6808 11835 291402 221021 15916 54465 275817 207646 28682 39489 18462 18462 57940 57940 283273 283273 97832 268 95559 2005 130354 44267 48028 38059 151872 104475 22356 25041 46311 23203 10212 12896 2171225 1905009 124234 141982 17287 6230 8406 2651 34115 34115 19799 19799 1085116 911925 87364 85827 19827 19827 DINING HALL MEAL PLANS 399358 399358 WORKSHOP PERFORMANCE 252557 252557 SPECIAL EVENTS 252208 252208 STUDENT ACTIVITIES 196155 196155 AUDITION TOUR AND COMMU 135443 135443 519164 383674 46804 88686 12085896 9306504 1443175 1336217 669758 382538 4149441 1009356 1537414 1944044 8698 14814 164928 104031 39894131 21996771 18903999 17897360 22380213 25466975 28875445 32519055 312849 305737 77002745 79643910 886751 871247 813312 929766 8600000 8600000 10300063 10401013 X 34745638 44192803 699921 427764 31257123 24622330 66702682 69242897 77002745 79643910 X -1370806 3911021 X X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 54091560 717018 5109007 4380756 55536829 52061625 1651359 3364064 2985488 54091560 60491313 1212229 -6473248 3168669 52061625 0.57210 0.42790 0 0 2067047 2067047 25903483 10881107 15022376 2778769 2203509 575260 9144832 8912155 232677 17897360 BARLOW PARTNERS OFFSHORE 5749412 F WEATHERFLOW OFFSHORE FUND I 3117785 F SILVER CREEK LOW VOL STRATEGIES 3689331 F FORESTER DIVERSIFIED 4105204 F DAVIDSON KEMPNER 2764899 F METROPOLITAN REAL ESTATE PARTNERS 637993 F WELLINGTON STRATEGIC RA CTF 8012670 F GREENLIGHT MASTERS 2253655 F GREENLIGHT CAPITAL 2188106 F 32519055 10715090 12085896 -1370806 3913586 -2565 3911021 2540215 14342838 3913586 -2565 3911021 10431817 283273 283273 10715090 11802623 0 11802623 283273 283273 12085896 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 2011, 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. SCHEDULE D, PAGE 4, PART XI, LINE 8 AND PART XII LINE 4A REVALUATION OF UNCONDITIONAL PROMISE TO GIVE = $(2,565) 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 --16-PAGE PROMOTIONAL BROCHURE DISTRIBUTED TO EVERY STUDENT IN THE US WHO ATTENDED AN AUDITION FOR SAB'S 5-WEEK SUMMER COURSE (APPROXIMATELY 2000 DISTRIBUTED) SEE SCHEDULE O FOR CONTINUATION EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 DURING FY 2011, THE SCHOOL WAS AWARDED A GRANT FROM THE NATIONAL ENDOWMENT FOR THE ARTS (NEA) TO SUPPORT PROGRAM ACTIVITIES IN FY 2012. IN FY 2011, THE SCHOOL RECOGNIZED GRANTS FROM THE NEA AND THE NEW YORK CITY DEPARTMENT OF CULTURAL AFFAIRS THAT HAD BEEN AWARDED DURING FY 2010 TO SUPPORT FY 2011 PROGRAMS. WINTER BALL 999030 880958 118072 118072 WORKSHOP BENEFIT 703250 616637 86613 86613 2 364350 293063 71287 71287 2066630 1790658 275972 275972 275972 0 1 TUTION AND ROOM & BOARD SCHOLARSHIPS 296 1372381 BOOK FINANCIAL AID TRAVEL STIPENDS 40 11578 BOOK FINANCIAL AID ACADEMIC SCHOOL SCHOLARSHIPS 12 126500 BOOK FINANCIAL AID WIEN AWARDS FOR EXCELLENCE 5 50000 BOOK AWARD 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 235226 0 0 0 22000 0 12250 0 25111 0 294587 0 0 0 STEPHEN DEWHURST 133720 0 0 0 22000 0 7917 0 8735 0 172372 0 0 0 KAY MAZZO BELLAS 157487 0 0 0 0 0 7907 0 0 0 165394 0 0 0 KATRINA KILLIAN 129955 0 0 0 0 0 6990 0 13249 0 150194 0 0 0 THE TRUST FOR CULTURAL RESOURCES OF NYC 911882413 898328AF6 2006-08-08 8600000 IMPROVEMENTS ON SAB BUILDING 0 0 0 8737339 645734 172000 64064 7787941 67600 2010 0 0 1 1 0 1 0 0 0.00000 0.00000 0.00000 1 1 1 0 NA 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 16 235085 FMV 0 1 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 DURING FY 2011, THE SCHOOL STARTED ITS FIRST SATELLITE SUMMER PROGRAM WHICH TOOK PLACE IN LOS ANGELES. 70 STUDENTS, AGES 10-14, PARTICIPATED IN THIS TWO-WEEK PROGRAM DURING AUGUST 2011. FORM 990, PART VI, SECTION B, LINE 11 IN ADVANCE OF SUBMITTING THE SCHOOL'S FISCAL YEAR 2011 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. FORM 990, PART VI, SECTION B, LINE 13 THE SCHOOL IMPLEMENTED A FORMAL WHISTLE BLOWER POLICY IN FISCAL YEAR 2012 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 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 2010 DURING FY 2011 BUDGET PROCESS. 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: 3,913,586. REVALUATION OF UNCONDITIONAL PROMISE TO GIVE -2,565. TOTAL TO FORM 990, PART XI, LINE 5: 3,911,021. SCHEDULE D, PART XI LINE 8: OTHER REVALUATION OF UNCONDITIONAL PROMISE TO GIVE = $(2,565) SCHEDULE D, PART XII, LINE 2D: OTHER REVALUATION OF UNCONDITIONAL PROMISE TO GIVE = $(2,565) CONTINUATION - EXPLANATION OF NONDISCRIMINATION POLICY FORM 990, SCHEDULE E, LINE 3 --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