Jump to content
This Site Uses Cookies. If You Want to Disable Cookies, Please See Your Browser Documentation. ×

Royalties Paid to Stager When His ver.of Ballet is Staged?


Recommended Posts

The definition of "key employee", linked to above, states "Officers, directors and trustees are not considered key employees."

Is Artistic Director not a director as defined by the IRS?

Tax law details are such an arcane field!

For IRS purposes, "director" means a Director on the organization's Board.

ETA: as a practical matter, a major performing arts organization's Artistic Director, Executive Director, and Chief Financial Officer are likely to be among its officers.

PS: This might help clarify the distinction between a Director (in the Board sense) and an Officer.

Link to comment

From PNB's financial statements on their websites, these are the total artistic fees (licenses, royalties and staging fees) for the last few seasons, along with the works they paid for.

First, can I just say that PNB's willingness to post its financial statements both promptly and in an easily-accesible manner is a model every non-profit should follow, especially those that like to bang their tin cups any chance they get.

Secondly, an interesting thing to look at is how much of a company's endowment is restricted (i.e., explicitly earmarked) for one thing or another. For example, per NYCB's audited financial statements, as of June 30, 2014, $4.6 million of its $187 million endowment is earmarked for "Martins Repertory" and $1.4 million for "Nureyev Repertory." $24 million is restricted to the Choreographic Institute, and $1.8 million for Symphony in C (the only named work on the list.) Other restrictions: Capital Campaign, Wallace, Martins' 25, Martins' 30, Balanchine Repertory, Robbins Repertory, Touring, Education, Levin Dance, Dance On, Musical Leadership, Scenic Design Maintenance, Kirstein Memorial, and Stepping. All in all, about 88% of the endowment has been restricted for one use or another. This isn't necessarily a bad thing: it throws some obstacles in the path of anyone who might want to squander the endowment on some hair-brained scheme.

Details regarding restrictions on an organization's endowment are generally provided as a note to it audited financial statements; unfortunately, not all organizations are as transparent with these as PNB is. To find NYCB's, for instance, you have to scrounge around their filings on the the New York State Charities Bureau website.

Link to comment
  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...