Princeton Ballet Society

EIN: 210732575 501(c)(3) Arts, Culture & Humanities

New Brunswick, NJ

Total Revenue
$4,614,796
Total Expenses
$5,097,426
Total Assets
$5,158,332
Net Assets
$721,181
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Financial Trends

Organization Details

Formation Year
1954
Legal Domicile
NJ
Principal Officer
Julie D Hench
Phone
7322491254
Tax Period
2023-07-01 to 2024-06-30

Princeton Ballet Society, founded in 1954, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.6M in total revenue in fiscal year 2023. Expenses of $5.1M exceeded revenue, resulting in a 10% operating deficit.

Mission

Princeton Ballet Society's mission is to nurture a lifelong love of dance and lift the collective spirit through excellent, relevant, and accessible artistic and educational programs, with a focus on classical ballet.

Program Service Accomplishments

Program 1
Expenses: $3,157,999 Revenue: $2,085,107

Princeton Ballet School has gained a national reputation for its excellent dance training since its founding in 1954 by Audre Estey. Princeton Ballet School currently enrolls approximately 600...

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Princeton Ballet School has gained a national reputation for its excellent dance training since its founding in 1954 by Audre Estey. Princeton Ballet School currently enrolls approximately 600 students annually from age three through adult at studios in Cranbury, New Brunswick, and Princeton. All ballet classes are offered with live piano accompaniment. Many of Princeton Ballet Schools faculty members have performed professionally; others have attained graduate degrees in dance education and have won awards for their teaching. Students from the school have gone on to dance on Broadway and in professional ballet and contemporary dance companies in the U.S. and abroad. Graduates have danced with such diverse organizations as the American Ballet Theatre, New York City Ballet, Paul Taylor Dance Company, Miami City Ballet, STREB, Momix, Complexions, Mark Morris Dance Company, Twyla Tharp Dance, Hubbard Street Dance Chicago,Pittsburgh Ballet Theatre, New York Theatre Ballet, Oregon Ballet Theatre, Ballet Met Columbus, and American Repertory Ballet.

Program 2
Expenses: $980,283 Revenue: $608,803

American Repertory Ballet (ARB) is New Jerseys preeminent professional ballet company, presenting classical and contemporary works to engage and inspire audiences. Founded in 1963 as part of the...

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American Repertory Ballet (ARB) is New Jerseys preeminent professional ballet company, presenting classical and contemporary works to engage and inspire audiences. Founded in 1963 as part of the Princeton Ballet Society, ARB hasbeen designated a Major Arts Institution by the New Jersey State Council on the Arts. The Company has also been awarded a Citation of Excellence by the Council, and frequently voted the Jersey Arts Peoples Choice Award for Favorite Dance Company. SInce 2021, ARB has been led by the world-class leadership team of Ethan Stiefel, Artistic Director; and Gillian Murphy, Artistic Associate. Together, they are shepherding ARB into a new era of artistic excellence, fusing strong classical technique with a fresh contemporary approach. ARB dancers hail from the United States, Italy, Japan, France, Brazil, and more, sharing their unique training and influences to create a dynamic and visionary team of artists. ARB2, American Repertory Ballets second company, is a development company for talented young dancers. The mission of ARB2 is to advance the next generation of artists and ensure that these talented young dancers are ready for the next step in their careers. Dancers in ARB2 work directly with the main company on a daily basis, training, rehearsing and frequently performing with the professional company.

Program 3
Expenses: $196,949 Revenue: $154,621

ARBs Access & Enrichment programs are multi-faceted engagement efforts, such as in-school residencies, community events, student matinee performances, and specially designed class offerings, such as...

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ARBs Access & Enrichment programs are multi-faceted engagement efforts, such as in-school residencies, community events, student matinee performances, and specially designed class offerings, such as Dance for Parkinson's classes for people with Parkinson's disease and their caregivers. Each year, ARB engages approximately 10,000 children and families of varying ages, ethnic and socio-economic backgrounds through its Access & Enrichment programs.ARBs flagship residency program, DANCE POWER is the longest continuously running community and arts partnership in the state, serving nearly 800 New Brunswick students each year. All 3rd grade students in New Brunswick have DANCE POWER incorporated into their physical education class for 20 weeks. At the end of the residency, 40 scholarships are presented to students so they can continue dancing at Princeton Ballet School from 4th grade through their senior year of high school on full tuition scholarship, becoming DANCE POWER Scholars. Over 50,000 public school students in the New Brunswick area have reaped the rewards of dance education through this acclaimed program since its inception in 1986.Founded by Dr. Penelope Lattimer in collaboration with American Repertory Ballet and the New Brunswick Board of Education, the DANCE POWER curriculum was originally written by a committee of dance educators and New Brunswick school administrators, and it remains a working document that is updated regularly to meet and exceed the New Jersey Student Learning Standards for the Visual and Performing Arts. At the end of each academic year, students are invited to showcase their new skills for friends and family in a culminating performance. This final performance, called Waiting inthe Wings, is highly-anticipated and serves as a powerful visual reminder of the programs impact on the local community. Other programs have been created as supplements to and adaptations of DANCE POWER. These initiatives include DANCE POWER summer camp, Hip Hop Revolution (making connections between ballet technique and other dance forms, such as hip hop), and DANCE POWER Limitless (designed specifically for students with disabilities). In 2021,DANCE POWER received the Distinction in Dance Award from the Dance Studies Association. The Association cited the programs impressive reach, quality, and impact on the field of dance studies.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,591,923
Program Service Revenue $2,848,531
Investment Income $13,583
Other Revenue $160,759
TOTAL REVENUE $4,614,796

Expense Breakdown

Grants Paid $274,070
Salaries & Benefits $2,575,287
Fundraising Expenses $105,231
Program Expenses $4,335,231
Other Expenses $2,248,069
TOTAL EXPENSES $5,097,426

Year-over-Year Comparison

2023 2022 Change
Revenue $4,614,796 $4,573,316 +0.0%
Expenses $5,097,426 $4,645,123 +0.1%
Net Income $-482,630 $-71,807 +5.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
16
Independent Members
16
Employees
133
Volunteers
30

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$161,687
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ethan Stiefel Artisitc Director 40.00
$110,987 $6,421 $117,408
Julie D Hench Executive Dir. 40.00
Officer
$85,747 $9,559 $95,306
Dawn M Dell'Omo COO 30.00
Officer
$66,381 $0 $66,381
Susan Croll Chairman 1.00
Officer Director
$0 $0 $0
Peter Gerry Trustee 1.00
Director
$0 $0 $0
Ngoc Nguyen Secretary 1.00
Officer Director
$0 $0 $0
Melissa Marschner Trustee 1.00
Director
$0 $0 $0
Ken Fredeen Trustee 1.00
Director
$0 $0 $0
Ronald Blake Treasurer 1.00
Officer Director
$0 $0 $0
Nancy MacMillan Trustee 1.00
Director
$0 $0 $0
Akira Bell Trustee 1.00
Director
$0 $0 $0
Sue Howard Trustee 1.00
Director
$0 $0 $0
Daphne Jones Vice Chair 1.00
Officer Director
$0 $0 $0
Charles Metcalf Trustee 1.00
Director
$0 $0 $0
Magrielle Eisen Trustee 1.00
Director
$0 $0 $0
Penelope Lattimer Trustee 1.00
Director
$0 $0 $0
Margaret Ruttenberg Trustee 1.00
Director
$0 $0 $0
Jane Silverman Trustee 1.00
Director
$0 $0 $0
Joel Studebaker Trustee 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 No data No data No data No data
2024 $4,614,796 $5,097,426 $5,158,332 $-482,630
2023 $4,573,316 $4,645,123 $5,676,680 $-71,807
2022 $4,682,315 $4,147,485 $2,389,360 $534,830
2021 $3,208,486 $2,695,778 $2,041,103 $512,708
2020 $3,999,880 $4,105,661 $1,494,171 $-105,781
2019 $4,256,423 $4,217,518 $1,719,180 $38,905
2018 $4,193,036 $4,363,266 $1,544,260 $-170,230
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