FIRST STATE BALLET THEATRE INC

EIN: 510394850 501(c)(3) Arts, Culture & Humanities

WILMINGTON, DE

Total Revenue
$1,147,516
Total Expenses
$812,831
Total Assets
$1,020,708
Net Assets
$1,020,708
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2000
Legal Domicile
DE
Principal Officer
PETER ZOLTOWSKI
Phone
3026525503
Tax Period
2023-01-01 to 2023-12-31

FIRST STATE BALLET THEATRE INC, founded in 2000, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.1M in total revenue in fiscal year 2023. Revenue surged 102% from the prior year, signaling strong growth momentum. The organization ran a surplus of $335K, a strong 29% operating margin.

Mission

TO BRING THE BEAUTY AND EXCITEMENT OF PROFESSIONAL BALLET PERFORMANCES TO AUDIENCES THROUGHOUT DELAWARE, TO PROVIDE SUPERB BALLET TRAINING AND PERFORMANCE OPPORTUNITIES TO ASPIRING DELAWARE DANCERS AND TO EDUCATE THE DELAWARE DANCE AUDIENCE OF THE FUTURE.

Program Service Accomplishments

Program 1
Expenses: $455,174 Revenue: $174,163

PERFORMANCES:NOW IN ITS 24TH SEASON, FIRST STATE BALLET THEATRE IS DELAWARE'S ONLY PROFESSIONAL BALLET COMPANY AND SERVES THOUSANDS OF DELAWAREANS EACH YEAR THROUGH OUR PERFORMANCES, OUR SCHOOL, AND...

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PERFORMANCES:NOW IN ITS 24TH SEASON, FIRST STATE BALLET THEATRE IS DELAWARE'S ONLY PROFESSIONAL BALLET COMPANY AND SERVES THOUSANDS OF DELAWAREANS EACH YEAR THROUGH OUR PERFORMANCES, OUR SCHOOL, AND OUR OUTREACH PROGRAMS. FSBT'S PERFORMING ARTISTS COME FROM AROUND THE WORLD TO DANCE IN OUR MAINSTAGE SEASON AT THE GRAND OPERA HOUSE AND OTHER PERFORMANCES STATEWIDE.

Program 2
Expenses: $262,460 Revenue: $273,533

EDUCATION, TRAINING AND OUTREACH:THE SCHOOL OF FSBT IS DELAWARE'S LEADER IN CLASSICAL BALLET TRAINING AND BRINGS INTERNATIONALLY-RECOGNIZED ARTISTS TO DELAWARE TO TEACH EACH YEAR AT OUR SUMMER...

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EDUCATION, TRAINING AND OUTREACH:THE SCHOOL OF FSBT IS DELAWARE'S LEADER IN CLASSICAL BALLET TRAINING AND BRINGS INTERNATIONALLY-RECOGNIZED ARTISTS TO DELAWARE TO TEACH EACH YEAR AT OUR SUMMER PROGRAMS. IN 2019, FSBT CREATED THE NATIONAL BALLET COMPETITION, WHICH AWARDS THOUSANDS OF DOLLARS IN SCHOLARSHIPS FOR ASPIRING DANCERS TO PRESTIGIOUS SUMMER PROGRAMS AROUND THE COUNTRY. FSBT'S OUTREACH PROGRAMS SERVE THOUSANDS OF DELAWAREANS WITH LOW-COST OR FREE DANCE INSTRUCTION AND LECTURE-DEMOS IN SCHOOLS AND COMMUNITY CENTERS STATEWIDE.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $680,034
Program Service Revenue $405,572
Investment Income $5,669
Other Revenue $56,241
TOTAL REVENUE $1,147,516

Expense Breakdown

Grants Paid $21,825
Salaries & Benefits $507,945
Fundraising Expenses $33,454
Program Expenses $717,634
Other Expenses $283,061
TOTAL EXPENSES $812,831

Year-over-Year Comparison

2023 2022 Change
Revenue $1,147,516 $569,448 +1.0%
Expenses $812,831 $761,672 +0.1%
Net Income $334,685 $-192,224 -2.7%
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
13
Independent Members
11
Employees
35
Volunteers
52

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
$132,659
Total Directors
13
$132,659
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTINA KAMBALOV EXECUTIVE DIRECTOR, EX OFF 40.00
Officer Director
$56,960 $9,752 $66,712
PASHA KAMBALOV ARTISTIC DIRECTOR, EX OFFI 40.00
Officer Director
$54,300 $11,647 $65,947
FRANK O'BARA PRESIDENT 5.00
Officer Director
$0 $0 $0
MICHELE HUNTER VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
KARYN LAMB SECRETARY 1.00
Officer Director
$0 $0 $0
PETER ZOLTOWSKI TREASURER 1.00
Officer Director
$0 $0 $0
BRANDON BRICE DIRECTOR (SINCE 5/2023) 1.00
Director
$0 $0 $0
PETER CAMPBELL DIRECTOR 1.00
Director
$0 $0 $0
MARISA FACCIOLO DIRECTOR (SINCE 2/2023) 1.00
Director
$0 $0 $0
LEANN MYERS DIRECTOR (SINCE 5/2023) 1.00
Director
$0 $0 $0
LT COLONEL JEROME ROGERS DIRECTOR (SINCE 5/2023) 1.00
Director
$0 $0 $0
STEPHANIE SMITH-CHRISTIANO DIRECTOR 1.00
Director
$0 $0 $0
JOE P YEAGER ESQ DIRECTOR 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
2024 No data No data No data No data
2023 $1,147,516 $812,831 $1,020,708 $334,685
2022 $569,448 $761,672 $686,022 $-192,224
2021 $1,031,345 $589,012 $879,591 $442,333
2020 $564,406 $473,798 $491,413 $90,608
2019 $690,716 $598,425 $346,114 $92,291
2018 $558,507 $542,963 $253,109 $15,544
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