2012-11-02T07:13:47-05:00 2012-06-30 251408703 SCHNEIDER DOWNS & CO INC 1133 PENN AVENUE PITTSBURGH PA 15222 990 2011-07-01 237101094 PITTSBURGH BALLET THEATRE INC PITT 4122810360 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 HARRIS FERRIS 4122810360 2012-10-03 1 SUSAN M KIRSCH P00341397 4122613644 2011 2016-02-24 21:20:13Z HARRIS FERRIS 2900 LIBERTY AVENUE PITTSBURGH PA 152011500 9815616 0 X WWW.PBT.ORG X 1969 PA THE ORGANIZATION IS COMMITTED TO THE DEVLOPMENT OF AN INTERNATIONALLY RECOGNIZED BALLET COMPANY. 46 45 205 66 40316 0 3503810 3464285 3406168 3550650 242218 202252 142737 259029 7294933 7476216 268618 383770 0 0 2916103 3047368 45729 0 587851 4313254 4694479 7543704 8125617 -248771 -649401 13842726 13032021 2276340 2634819 11566386 10397202 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 5455067 1929045 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. 1396632 383770 1593115 SCHOOL AND ART EDUCATION - 350 STUDENTS ARE ENROLLED IN THE PROGRAM WHICH ATTRACTS, DEVELOPS AND RETAINS EXCELLENT DANCERS. 6851699 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 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 49 0 1 205 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 1 1 1 1 1 1 1 1 0 PA MD NY OH WV X JAY ROMANO 4124549112 2900 LIBERTY AVENUE PGH PA 152011500 X JASON ALTMIRE 0.10 X 0 0 0 ROBERT STANTON BARMEN 0.10 X 0 0 0 KELLY BOYER 0.10 X 0 0 0 BETH O BROWN 0.10 X 0 0 0 DAVID BUSH 0.10 X 0 0 0 HOLLY BRUBACH 0.10 X 0 0 0 CAROLYN M BYHAM 0.10 X 0 0 0 CHRISTINE CAMSUZOU 0.10 X 0 0 0 SEAN CASSIDY 0.10 X 0 0 0 JAY COSTA JR 0.10 X 0 0 0 SUSAN CRUZ 0.10 X 0 0 0 DEBRA DERMODY ESQ 0.10 X 0 0 0 KAYE R DESCH 0.10 X 0 0 0 TIMOTHY EVANS PHD 0.10 X 0 0 0 JAMES TOMLINSON FORT 0.10 X 0 0 0 FREDDIE H FU MD 0.10 X 0 0 0 JEANNE GLEASON 0.10 X 0 0 0 KRISTINE SORENSEN GIFFIN 0.10 X 0 0 0 JAMES H HARDIE 0.10 X 0 0 0 DONA HOTOPP 0.10 X 0 0 0 ROBERT KORMOS MD 0.10 X 0 0 0 DOUG KREPS 0.10 X 0 0 0 ROBERT A KRIZNER 0.10 X 0 0 0 MICHAEL C LAROCCO 0.10 X 0 0 0 SUSAN LEONE 0.10 X 0 0 0 PEGGY MCNIGHT 0.10 X 0 0 0 LEROY L METZ II 0.10 X 0 0 0 JOHN PIPPY 0.10 X 0 0 0 MARK POPOVICH 0.10 X 0 0 0 RICHARD E RAUH 0.10 X 0 0 0 MARYANN REABE 0.10 X 0 0 0 DIANA REID 0.10 X 0 0 0 KRISTY RODRIGUEZ 0.10 X 0 0 0 LISA SAPERSTEIN 0.10 X 0 0 0 ANN SCHWAB 0.10 X 0 0 0 VINCENT SILVAGGIO MD 0.10 X 0 0 0 NORMA SOBEL 0.10 X 0 0 0 BECKY TORBIN 0.10 X 0 0 0 COLLEEN TRAVIS 0.10 X 0 0 0 DAVID F TUTHILL 0.10 X 0 0 0 HILARY S TYSON 0.10 X 0 0 0 MARKUS WEBER 0.10 X 0 0 0 BOB WYCHE 0.10 X 0 0 0 SHELLEY TAYLOR 0.10 X X 0 0 0 JAMES E CROCKARD III 0.10 X X 0 0 0 MICHAEL J HAVER 0.10 X X 0 0 0 KATHLEEN MICLOT 0.10 X X 0 0 0 TERRENCE ORR 40.00 X 161008 0 8972 HARRIS FERRIS 40.00 X 173289 0 9341 JAY ROMANO 40.00 X 101844 0 7197 436141 0 25510 3 0 1 0 JENDOCO CONSTRUCTION CORP 2000 LINCOLN ROAD PITTSBURGH PA 15235 BUILDING RENOVATIONS 518644 1 90000 1071854 2302431 50825 3464285 PERFORMANCE TICKET 711190 1798571 1798571 SCHOOL TUITION 611710 1593115 1593115 COSTUMES & SET INCOME 711190 55915 55915 BALLET COMPANY TOURING 711190 48953 48953 PROGRAM ADVERTISING 541800 37731 37731 16365 16365 3550650 55881 55881 2337602 2191231 146371 146371 146371 392843 90000 145640 247203 247203 14355 2529 11826 9241 2585 7476216 3522160 40316 449455 383770 383770 498498 181177 267096 50225 1966816 1548976 179009 238831 55742 49778 5193 771 351923 273388 42372 36163 174389 125279 28743 20367 2306 2306 34916 34916 6291 6291 63220 63220 11763 4545 1435 5783 504265 504265 172384 72015 21456 78913 32028 14778 4667 12583 136112 52970 80575 2567 24119 11092 7018 6009 9845 3872 5973 511290 511290 DIRECT PRODUCTION 1687421 1687421 SCHOOL EXPENSE 920149 920149 GENERAL PRODUCTION 188687 188687 ARTS EDUCATION 92711 92711 296972 163882 9715 123375 8125617 6851699 686067 587851 692050 292641 149714 508074 814278 544189 28948 32242 15083 16333 330432 344787 10172977 7181521 2678399 2991456 8491718 7717476 380348 349627 261756 235196 13842726 13032021 312454 368596 1165218 1171100 798668 1095123 2276340 2634819 X 290909 162426 2204982 2095994 9070495 8138782 11566386 10397202 13842726 13032021 X -649401 -519783 X X 0 1 1 X 0 X 4021767 2380543 4166617 3503810 3450928 17523665 4021767 2380543 4166617 3503810 3450928 17523665 1391038 16132627 515379 253652 53885 75301 55881 954098 5022 493 350 5865 18483628 18464936 0.87280 0.88120 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6291 6291 8119326 8125617 556281 139070 0 0 527185 556281 1083466 1625199 6294 6291 12585 131796 139070 270866 406299 8627492 10000 -369856 541000 7726636 7611114 50000 1516378 550000 8627492 6985570 1239044 613500 7611114 8988411 -1521557 480284 6985570 0.00000 1.00000 0.00000 0 0 7176351 5194748 1981603 736243 43425 692818 2260383 1943348 317035 2991456 7476216 8125617 -649401 -519783 -519783 -1169184 7350135 -519783 308753 148169 -62861 7412996 63220 63220 7476216 8519319 308753 148169 456922 8062397 63220 63220 8125617 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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, 2012 AND 2011, 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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, 2012 AND 2011 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 STATEMENTS OF ACTIVITIES FOR THE YEARS ENDED JUNE 30, 2012 AND 2011. THE STATUTORY TAX YEARS REMAIN OPEN TO EXAMINATION. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 145,640. COST OF GOODS SOLD 2,529. PART XIII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 145,640. COST OF GOODS SOLD 2,529. POINTE IN TIME BALL 482843 90000 392843 21329 1615 73379 21525 27792 482843 90000 392843 21329 1615 73379 21525 27792 145640 247203 1 TUITION SCHOLARSHIP 85 149710 0 N/A N/A HOUSING ASSISTANCE 40 95090 0 N/A N/A TUITION FINANCIAL AID 66 138970 0 N/A N/A PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 161008 0 0 0 0 0 4830 0 4142 0 169980 0 0 0 HARRIS FERRIS 173289 0 0 0 0 0 5199 0 4142 0 182630 0 0 0 X 4 27167 FMV X BALLET SHOES 1 11854 FMV X COSTUME FABRIC 1 5304 FMV X FLOWERS 1 6500 FMV 0 0 0 1 THIRD PARTY USE: PART I, LINE 32B: THE ORGANIZATION USES AN UNRELATED THIRD PARTY BROKERAGE FIRM TO SELL GIFTS OF PUBLICLY TRADED SECURITIES. 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 FORMS ARE FINALIZED AND A COMPLETE 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED LOSSES ON INVESTMENTS: -519,783. 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 1 0 0 0 0 0 0 0 0 SCHEDULE R, PART II, IDENTIFICATION OF RELATED TAX-EXEMPT ORGANIZATIONS: THE PITTSBURGH BALLET THEATRE'S RELATED ORGANIZATION, PITTSBURGH BALLET THEATRE CHARITABLE FOUNDATION ("FOUNDATION"), FILED FORM 1023, APPLICATION FOR RECOGNITION OF EXEMPTION, IN MARCH OF 2012 SEEKING RETROACTIVE REINSTATEMENT OF THE FOUNDATION'S TAX EXEMPT STATUS. THE INTERNAL REVENUE CODE PROVIDES THAT WHILE AN APPLICATION IS PENDING THE FOUNDATION MAY OPERATE AS A TAX-EXEMPT ORGANIZATION.