2024-02-20T10:25:25-06:00 2023-06-30 921472936 ADEPTUS ADVISORS LLC 3311 OLNEY SANDY SPRING RD OLNEY MD 208321411 990 2022-07-01 521665250 METROPOLITAN BALLET THEATRE INC METR 3017621757 220 PERRY PARKWAY 8 GAITHERSBURG MD 20877 ELIZABETH ODELL CATLETT EXECUTIVE DIRECTOR 3017621757 2024-02-20 1 ELIZABETH ODELL CATLETT 999009999 0 NEIL E BERGER P00102223 3019299700 2024-02-20 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ELIZABETH ODELL CATLETT 220 PERRY PARKWAY 8 GAITHERSBURG MD 20877 1783323 0 X WWW.MBTDANCE.ORG X 1989 MD PROVIDING ARTS OPPORTUNITIES FOR ALL THROUGH EXCEPTIONAL DANCE EDUCATION, COMMUNITY OUTREACH, AND INSPIRING PERFORMANCES. 12 11 49 375 0 0 130121 648262 877581 1102583 395 6932 29836 6208 1037933 1763985 37105 53375 0 0 592782 596929 0 0 8042 568400 654859 1198287 1305163 -160354 458822 2149579 2429987 1903513 1725103 246066 704884 X PROVIDING ARTS OPPORTUNITIES FOR ALL THROUGH EXCEPTIONAL DANCE EDUCATION, COMMUNITY OUTREACH, AND INSPIRING PERFORMANCES. 0 0 950832 26455 863633 ACADEMIC YEAR AND SUMMER PROGRAMS: MBT OFFERS PROFESSIONAL, INDIVIDUALIZED DANCE EDUCATION (INCLUDING BALLET, JAZZ, AND OTHER FORMS OF DANCE) TO PROFESSIONAL, PRE-PROFESSIONAL, AND BEGINNING STUDENTS IN A CARING, NURTURING ENVIRONMENT. SPECIFICALLY, MBT OFFERS THE SAME HIGH-QUALITY DANCE INSTRUCTION TO ALL ITS STUDENTS - THOSE WHO TAKE DANCE RECREATIONALLY AS WELL AS THOSE WHO MAY BE CONSIDERING A DANCE CAREER - REGARDLESS OF BODY SIZE, TECHNICAL ABILITY, OR PHYSICAL LIMITATION. 175046 199335 MBT PERFORMANCES TO THE COMMUNITY WITH ITS ANNUAL PRODUCTIONS OF THE NUTCRACKER AS WELL AS A SPRING SEASON, WHICH VARIES YEARLY. THE OPPORTUNITIES ARE TWO-FOLD; 1) PROVIDING ENROLLED STUDENTS AGE 7 AND OLDER THE CHANCE TO PARTICIPATE IN A PROFESSIONAL PRODUCTION. 2) PROVIDING THE COMMUNITY WITH AN AFFORDABLE, ACCESSIBLE, FAMILY-FRIENDLY CULTURAL EXPERIENCE. 28434 26920 MBT'S OUTREACH PROGRAM INCLUDES COLLABORATIONS WITH OTHER ARTS ORGANIZATIONS, PROVIDING TEACHERS TO AFTER SCHOOL PROGRAMS THAT OFFER DANCE CLASSES TO CHILDREN AT NO CHARGE, AND PROVIDING STUDENT PERFORMERS AT PUBLIC EVENTS. AGAIN, THE OPPORTUNITIES ARE TWO-FOLD: 1) TO ENHANCE STUDENT DANCERS' CIVIC RESPONSIBILITY. 2) TO PROVIDE UNDERSERVED POPULATIONS THE OPPORTUNITY TO EXPERIENCE THE ART OF DANCE WHEN THEY MAY NOT OTHERWISE HAVE THE MEANS TO. 46741 OTHER PROGRAM SERVICES INCLUDE FIELD TRIPS, SALES OF PROGRAM SUPPLIES, AND MISCELLANEOUS INCOME. 46741 1154312 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 1 49 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 MD X THE ORGANIZATION 3017621757 220 PERRY PARKWAY 8 GAITHERSBURG MD 20877 E ODELL CATLETT EXECUTIVE ARTISTIC DIRECTOR 40.00 X X 97463 0 614 E GRAY DIRECTOR 1.00 X 0 0 0 B HARRIS DIRECTOR 1.00 X 0 0 0 D MCCORMICK-GOODHART DIRECTOR 1.00 X 0 0 0 D WALKER EX-OFFICIO 1.00 X 0 0 0 E BRUNSON DIRECTOR 1.00 X 0 0 0 S BARBER DIRECTOR 1.00 X 0 0 0 E PATIL DIRECTOR 1.00 X 0 0 0 M TIPNIS PRESIDENT 2.00 X X 0 0 0 M GEORGE VICE PRESIDENT 2.00 X X 0 0 0 J GAGEN SECRETARY 2.00 X X 0 0 0 O MOONEY TREASURER 2.50 X X 0 0 0 97463 0 614 0 0 0 0 0 11141 607262 29859 648262 TUITION AND FEES 711130 701039 701039 PRODUCTION INCOME 711130 217323 217323 SUMMER PROGRAM 711130 162594 162594 21627 21627 1102583 6932 6932 462 0 462 462 462 7081 11141 8461 -1380 -1380 18003 10877 7126 7126 1763985 1109709 0 6014 53375 53375 101977 88585 12249 1143 450820 391617 54149 5054 44132 39761 3221 1150 60243 48518 11725 57200 56600 600 12661 12333 233 95 35768 32968 2800 266539 236604 29935 477 477 80392 60392 20000 10366 8487 1879 UTILITIES 32074 29074 3000 0 PRODUCTION EXPENSES 23340 23340 0 0 BANK AND CREDIT CARD FE 15427 14427 1000 0 REPAIRS AND MAINTENANCE 13011 13011 0 0 47361 44743 2618 1305163 1154312 142809 8042 100891 32662 291278 834191 216973 248593 11691 11884 1926 2238 856579 539751 381582 316828 1145238 983591 2149579 2429987 13863 23595 369773 382433 1519877 1319075 1903513 1725103 X 246066 704884 246066 704884 2149579 2429987 X 458822 -4 X 0 1 X 0 0 X 672860 245858 396404 130121 648262 2093505 997504 934158 620467 925685 1127667 4605481 1670364 1180016 1016871 1055806 1775929 6698986 10063 10121 4506 3050 7000 34740 0 10063 10121 4506 3050 7000 34740 6664246 3038 5970 3248 440 6932 19628 3038 5970 3248 440 6932 19628 1673402 1185986 1020119 1056246 1782861 6718614 0.99190 0.99110 0.00290 0.00260 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 856579 539751 316828 316828 SECURITY DEPOSIT 22145 RIGHT OF USE ASSETS, NET 961446 983591 OPERATING LEASE LIABILITIES 1319075 1319075 X 1831120 47797 19338 67135 1763985 0 1763985 1372298 47797 19338 67135 1305163 0 1305163 PART X, LINE 2: THE ORGANIZATION HAS RECEIVED A TAX DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE STATING THAT IT QUALIFIES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS THUS EXEMPT FROM FEDERAL AND STATE INCOME TAXES. FURTHER, THE ORGANIZATION DOES NOT HAVE ANY UNRELATED BUSINESS INCOME. THE ORGANIZATION'S MANAGEMENT EVALUATES TAX POSITIONS AND RECOGNIZES A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE ORGANIZATION'S MANAGEMENT HAS ANALYZED ITS TAX POSITIONS, AND HAS CONCLUDED THAT AS OF JUNE 30, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS PART XI, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD IN CALCULATION OF REVENUE FROM SALES OF INVENTORY 10,877. FUNDRAISING EXPENSES NETTED AGAINST REVENUE 8,461. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD IN CALCULATION OF REVENUE FROM SALES OF INVENTORY 10,877. FUNDRAISING EXPENSES NETTED AGAINST REVENUE 8,461. FRIENDS & FAMILY 8505 8505 2572 SPIRIT WEAR/THERA BANDS 7168 0 7168 5308 15673 8505 7168 7880 7880 -712 1 SCHOLARSHIPS 23 53375 FMV THE ORGANIZATION PROVIDES SCHOLARSHIPS IN THE FORM OF REDUCTION OF TUITION FOR ELIGIBLE STUDENTS. TO BE ELIGIBLE, THE STUDENT OR THEIR PARENTS ARE REQUIRED TO COMPLETE AN APPLICATION THAT IS THEN REVIEWED BY THE SCHOLARSHIP COMMITTEE AND THE ARTISTIC DIRECTOR. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF FORM 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL BEFORE FINALIZING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF DIRECTORS AND EMPLOYEES SIGN A CONFLICT DISCLOSURE DOCUMENT UPON SELECTION TO THE BOARD OR HIRING, WHICHEVER IS APPLICABLE. THE ORGANIZATION REQUIRES REVIEW ON AN ANNUAL BASIS AT THE ANNUAL BOARD OF DIRECTORS RETREAT,WITH APPROPRIATE MONITORING. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS REVIEWS THE EXECUTIVE DIRECTOR'S, ARTISTIC DIRECTOR'S AND OFFICERS' COMPENSATION ANNUALLY. THE COMPENSATION OF THE EXECUTIVE DIRECTOR, ARTISTIC DIRECTOR AND OFFICERS IS COMPARED TO OTHER NON-PROFIT ORGANIZATIONS' SALARIES POSTED IN THE AREA. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 1023, FORM 990, GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING -4.