GRAND RAPIDS BALLET

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1971

Legal Domicile

Principal Officer

JAMIE SLOTSEMA

Phone

6164544771

Tax Period

2024-07-01 to 2025-06-30

GRAND RAPIDS BALLET, founded in 1971, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.8M in total revenue in fiscal year 2024. Revenue surged 39% from the prior year, signaling strong growth momentum. The organization ran a surplus of $761K, a strong 16% operating margin.

Mission

TO LIFT THE HUMAN SPIRIT THROUGH THE ART OF DANCE BY PROVIDING: EXCEPTIONAL AND DIVERSE PROGRAMMING; HIGH QUALITY DANCE EDUCATION; OUTREACH TO INSPIRE AND ENRICH THE COMMUNITY; FAMILY-FRIENDLY PROGRAMMING INCLUDING NEWLY COMMISSIONED WORKS; AND A SOUND FINANCIAL CONDITION.

Program Service Accomplishments

Program 1

Expenses: $2,834,461 Revenue: $1,204,176

TO PRESENT MAJOR BALLET PRODUCTIONS EACH SEASON IN GRAND RAPIDS AND TOUR SMALLER VERSIONS OF THE SHOWS THROUGHOUT THE STATE OF MICHIGAN TO PROVIDE AN OPPORTUNITY FOR AUDIENCES IN SMALLER COMMUNITIES...

Program 2

Expenses: $354,875 Revenue: $516,000

TO OPERATE A SCHOOL OF BALLET WHICH PROVIDES INSTRUCTION AND ART APPRECIATION TO CHILDREN AND ADULTS. PROVIDE LECTURE/DEMONSTRATIONS TO OTHER EDUCATIONAL INSTITUTIONS AND TO INNER-CITY CHILDREN...

TO OPERATE A SCHOOL OF BALLET WHICH PROVIDES INSTRUCTION AND ART APPRECIATION TO CHILDREN AND ADULTS. PROVIDE LECTURE/DEMONSTRATIONS TO OTHER EDUCATIONAL INSTITUTIONS AND TO INNER-CITY CHILDREN THROUGHOUT THE GRAND RAPIDS AREA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,641,500

Program Service Revenue $1,720,176

Investment Income $271,290

Other Revenue $129,760

TOTAL REVENUE $4,762,726

Expense Breakdown

Grants Paid $36,892

Salaries & Benefits $1,915,386

Fundraising Expenses $209,564

Program Expenses $3,189,336

Other Expenses $2,049,557

TOTAL EXPENSES $4,001,835

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,762,726	$3,429,360	+0.4%
Expenses	$4,001,835	$3,668,816	+0.1%
Net Income	$760,891	$-239,456	-4.2%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

200

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

$250,947

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY JENNINGS	EXECUTIVE DI	40.00	Officer	$59,231	$0	$59,231
JAMES SOFRANKO	ARTISTIC DIR	40.00	Officer	$97,200	$17,646	$114,846
GLENN DEL VECCHIO	EXECUTIVE DI	40.00	Officer	$58,192	$18,678	$76,870
JAMIE SLOTSEMA	PRESIDENT	2.00	Officer Director	$0	$0	$0
ASHLEIGH E DRAFT	VICE PRESIDE	2.00	Officer Director	$0	$0	$0
LEAH VOIGT	TREASURER	2.00	Officer Director	$0	$0	$0
LESLIE ABDOO	SECRETARY	2.00	Officer Director	$0	$0	$0
AMANDA AVILA	DIRECTOR	1.00	Director	$0	$0	$0
KIMBERLY BURKE	DIRECTOR	1.00	Director	$0	$0	$0
HELLE LINNEBJERG HAW	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LOJEK	DIRECTOR	1.00	Director	$0	$0	$0
KELLY MAY	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA NEMES	DIRECTOR	1.00	Director	$0	$0	$0
DALE SCHRIEMER	DIRECTOR	1.00	Director	$0	$0	$0
BRANDON TOMASH	DIRECTOR	1.00	Director	$0	$0	$0
MARY A YURKO	DIRECTOR	1.00	Director	$0	$0	$0
CAROL MUTH	DIRECTOR - P	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	$4,762,726	$4,001,835	$7,334,949	$760,891
2024	No data	No data	No data	No data
2023	$2,792,132	$3,381,950	$5,782,939	$-589,818
2022	$3,217,670	$3,211,089	$6,278,277	$6,581
2021	$1,874,827	$1,730,105	$7,162,912	$144,722
2020	$1,850,474	$2,635,112	$6,882,171	$-784,638
2019	$2,552,562	$2,925,955	$7,285,963	$-373,393