The 990's

[garfield]

The balance sheet - assets and liabilities. Assets are cash, savings, accounts receivable, inventories, prepaid expenses, land & buildings, investments, and "other" assets.

Liabilities are accounts payable, deferred revenue, and "other".

Bottom lines are as follows (for those who want to cut to the chase):

2009: Assets = $2,078,338, Liabilities = $1,872,380, Net Assets = $205,958

2010: Assets = $1,984,049, Liabilities = $1,693,392, Net Assets = $290,657

2011: Assets = $2,955,395, Liabilities = $2,351,276, Net Assets = $604,111

Why the big jump in 2011? Funny, I asked the same question...

Edited November 15, 2012 by garfield

[garfield]

The biggest changes in the Assets category from 2009 to 2011 were:

Accounts receivable:

2009: $955,556, 2011: $1,332,183

Inventories:

2009: $347,878, 2011: $558,572

Investments:

2009: $302,562, 2011: $122,601

Other Assets:

2009: $0, 2011: $375,000 (Huh? What was this?)

A little deeper in the "Other Assets" explanation is this notation:

"Photo Collection", book value $375,000

Then, a little deeper under "Noncash Contributions", an entry in "Collectibles" shows an appraisal of $375,000 for one contribution.

So it appears that the majority of the bump in assets was from a donation by one contributor of a photo collection worth $375,000.

I remember hearing something about Steve Vickers at Drum Corps World making a donation of historical items, but I don't know if this was that donation or someone else.

Regardless, a Thank You is obviously in order.

[Veritaffle]

This thread has made my day. Thank you so much, garfield, for making this information available.

The biggest question I have would be how DCI and the corps income profiles compare to those of other similarly-sized non-profits. In particular, are there any sources of revenue on which corps either under- or over-rely?

[garfield]

Youth Education in the Arts.

This 990, like BD's and others that run more than just a drum corps, is going to be complicated to interpret because, in general, Revenues, Expenses, Assets & Liabilities are all jumbled together. Where available, I'll show specifics that identify which organization an entry references, but those are the exception not the rule. Unless I specify, all numbers will be for the entire organization, not just the drum corps.

Gross Receipts

2009: $4,510,344

2010: $4,603,763 (plus $93,419 [2%] from 2009)

2011: $5,103,866 (plus $500,103 [10.9%] from 2010, plus $593,522 [13.2%] from 2009)

Remember that "Gross Receipts" is everything that YEA took in; revenue, contributions, gifts, good-will, anything at all.

Looks like YEA! had a banner year in 2011. Good job and kudos to them.

Now, let's see if we can figure out where that good news came from.

[garfield]

YEA! Revenue

Contributions and Grants:

2009: $537,756

2010: $358,570 (minus $179,186 [33.3%] from 2009)

2011: $661,601 (plus $303,031 [84.5%] from 2010, plus $123,845 [23%] from 2009)

Edited November 16, 2012 by garfield

[garfield]

YEA! Revenue

Program Service Revenue:

2009: $2,915,076

2010: $3,193,486 (plus $278,410 [9.5%] over 2009)

2011: $3,394,014 (plus $200,528 [6.3%] over 2010, plus $478,938 [16.4%] over 2009)

Program Service Revenue is broken down into five categories:

USSBA Shows

Program Sponsorship Income

Tour/Camp/Traning Fees

Drum Corps Shows

Appearance Fees

We'll look at these one at a time.

[garfield]

YEA! Revenue

Program Service Revenue

USSBA Shows:

2009: $1,549,216

2010: $1,729,956 (plus $180,740 [11.7%] from 2009)

2011: $1,702,195 (minus $27,761 [1.6%] from 2010, plus $152,979 [9.9%] from 2009)

[Pete Freedman]

For some reason I thought the Cadets and each of their other units would be separate non-profits under the umbrella non-profit YEA. But I couldn't find the Cadets listed separately on Guidestar. This certainly makes more sense for the corps, since it's a huge savings on filings. Still, I'm surprised the IRS doesn't want some kind of paperwork at least from each distinct subunit, to make it harder to hide things.

[garfield]

YEA! Revenue

Program Service Revenue

Program Sponsorship Income (Note: this income is categorized as "Revenue excluded from tax under sections 512, 513, or 514", instead of under "Related or exempt function revenue" as are all of the other income items.)

2009: $463,554

2010: $484,165 (plus $20,611 [4.4%] from 2009)

2011: $508,782 (plus $24,617 [5%] from 2010, plus $45,228 [9.7%] from 2009

[garfield]

YEA! Revenue

Program Service Revenue

Tour/Camp/Training Fees:

2009: $453,552

2010: $512,883 (plus $59,331 [13.1%] from 2009)

2011: $573,730 (plus $60,847 [11.8%] from 2010, plus $120,178 [26.5%] from 2009