Velocity Dance Center

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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

1996

Legal Domicile

Principal Officer

Erin O'Reilly

Phone

5035237964

Tax Period

2024-01-01 to 2024-12-31

Velocity Dance Center, founded in 1996, is a small nonprofit in the Arts, Culture & Humanities sector that reported $928K in total revenue in fiscal year 2024. Revenue surged 35% from the prior year, signaling strong growth momentum.

Mission

Velocity advances contemporary dance and movement-based art by fostering the creative explorations of artists and audiences.

Program Service Accomplishments

Program 1

Expenses: $498,359 Revenue: $31,350

Residency Programs: Velocity's Residency programs supported over 240 artists through a series of five graduating platforms that provide funding, space, mentorship, administrative and production...

Residency Programs: Velocity's Residency programs supported over 240 artists through a series of five graduating platforms that provide funding, space, mentorship, administrative and production support to artists at different stages in their careers. These programs continue to grow in response to a 2021 survey and focus group where artists asked us to provide more support during the critical and often under-resourced time of process and development. 2024 Projects incubated through these programs include Lavinia Vagos FKK, The Seattle Projects Here. Because, and Mouthwater Disabled Arts Festival.

Program 2

Expenses: $168,612 Revenue: $29,146

Other Program Services: Fiscal Sponsorship

Program 3

Expenses: $145,367 Revenue: $70,010

Education: Velocity's Education Programs include workshops, classes and the Seattle Festival of Dance + Improvisation. These programs serve adult and youth participants, with dance and choreography training for beginning through professional level dancers. In 2024, Velocity employed a total of 67 teaching artists and offered education programs to over 844 participants. Our summer program, Seattle Festival of Dance + Improvisation, represented the majority of these classes, with 67 classes and intensive offerings; however, we also offer the Young Choreographers Club, which is a free program in the spring for artists ages 12-18. Velocity also provided over $15,000 in partial and full tuition scholarships for the summer festival.

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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 $763,626

Program Service Revenue $144,047

Investment Income $9,722

Other Revenue $10,732

TOTAL REVENUE $928,127

Expense Breakdown

Grants Paid $0

Salaries & Benefits $246,868

Fundraising Expenses $32,599

Program Expenses $873,398

Other Expenses $710,269

TOTAL EXPENSES $957,137

Year-over-Year Comparison

	2024	2023	Change
Revenue	$928,127	$685,999	+0.4%
Expenses	$957,137	$654,666	+0.5%
Net Income	$-29,010	$31,333	-1.9%

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

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

$68,826

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Erin O'Reilly	Executive Dir.	30.00	Officer	$60,278	$8,548	$68,826
Nina Bozicnik	President	3.00	Officer Director	$0	$0	$0
Monique Courcey	Secretary	3.00	Officer Director	$0	$0	$0
Symone Sanz	Treasurer	3.00	Officer Director	$0	$0	$0
Lance Milliman	Director	3.00	Director	$0	$0	$0
Cameron Collins	Director	3.00	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	$928,127	$957,137	$444,567	$-29,010
2023	$685,999	$654,666	$472,305	$31,333
2022	$620,889	$413,294	$444,424	$207,595
2021	$506,879	$235,660	$264,310	$271,219
2020	$345,421	$482,592	$30,564	$-137,171
2019	$631,183	$707,583	$146,817	$-76,400
2018	$563,755	$699,939	$204,781	$-136,184