audiodb Posted December 23, 2012 Share Posted December 23, 2012 The Academy Revenue, Expenses, and Net Assets The Bottom Line Revenue 2008: $667,844 2009: $618,754 2010: $688,301 Expenses 2008: $642,489 2009: $638,184 2010: $632,110 Talk about controlling expenses....these are nearly identical from year to year. Quote Link to comment Share on other sites More sharing options...
garfield Posted December 23, 2012 Author Share Posted December 23, 2012 Talk about controlling expenses....these are nearly identical from year to year. Yep, pretty strong. And while expenses were slightly lower, revenue was slightly increasing as were net assets. Hard to complain about that. Quote Link to comment Share on other sites More sharing options...
garfield Posted December 24, 2012 Author Share Posted December 24, 2012 The Academy Statement of Revenue (Note: 2008's forms are not broken down as are '09 and '10. Some details may not be decipherable from the 2008 forms.) (Note: Revenue is divided into three major categories: "Contributions, gifts, grants, etc", "Program Service Revenue", and "Other Revenue") Contributions, gifts, grants, etc Membership dues 2008: $410,254 (Note: 2008's line item is called "Membership dues and assessments") 2009: $291,549 2010: $357,924 Government Grants and All other contributions, etc 2008: $151,796 2009: $139,997 2010: $142,484 Total Contributions, gifts, grants, etc 2008: $562,050 2009: $431,526 2010: $500,408 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 24, 2012 Author Share Posted December 24, 2012 The Academy Revenue Program Service Revenue (Note: Only Performance Fees shows in the '09 and '10 numbers. 2008 lists $410,254 [the same number as "Membership dues" above] as Program Service Revenue) Performance Fees 2008: Not determinable 2009: $153,320 2010: $149,067 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 24, 2012 Author Share Posted December 24, 2012 The Academy Revenue Other Revenue Net Income from sales of inventory 2008: $18,542 2009: $21,989 2010: $26,945 Observation: If "inventory" includes souvie sales (typical) then Academy's souvie sales are steadily growing. Other Revenue 2008: $18,900 2009: $11,919 2010: $11,881 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 24, 2012 Author Share Posted December 24, 2012 The Academy Statement of Functional Expenses (Note: Each expense line item can be categorized in one or more of three definitions: "Program Service Expense (PSE)", "Management and Other Expense (MGE)", or "Fundraising Expense (FRE)". Note: 2008 is not defined as PSE, MGE, or FRE". Note: Only major, unusual, or significantly changed items will be shown. Tour Expenses 2008: $271,381 2009: $286,413 2010: $285,025 Travel 2008: $55,492 2009: $41,280 2010: $33,380 Instruction Design Staff 2008: Not determinable 2009: $79,584 2010: $95,855 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 24, 2012 Author Share Posted December 24, 2012 Before we finish up, one final detail about Expenses. Many people compare charitable organizations based on the amount of money that actually gets to the charitable purpose of the organization vs. the administrative expenses used to get the money there. The 990's provide a look at this comparison by requiring expenses to be categorized into two categories, Program Service Expenses and Management and General Expenses. For 2011, Total expenses were $9,429,827. Of that amount, $6,555,032 (69.5%) went to Program Service Expenses and $2,874,795 (30.5%) went to Management and General Expenses. In 2010, Total Expenses were $8,875,705. Of that, $5,768,844 (65%) was Program Service and $3,106,861 (35%) was Management and General. In 2009, Total Expenses were $8,542,134. $5,373,139 (62.4%) were Program Service and $3,168,985 (37.6%) were M&G. (Sorry, just realized the order by year is reversed from prior posts.) If this is a representation of efficiency, these numbers look pretty good. Seven percent more of DCI's Revenue was spent on Program Service in 2011 than in 2009, and Management and General expenses consumed less of the Revenue over these three years. This would be a good thing depending on where you stand and what's behind the numbers. More money going into Program (show) expenses could mean more money is being paid out to corps, or it could mean more money went into show production (like venue costs, etc). Anecdotally, I have noticed a decline in the number of attendants guarding the entrys to prevent fans from entering or leaving during a show. Those savings in venue costs (if my observation is a true representation) may mean the corps make more but the fans suffer more disruptions, for example. Without an explanation of Program Expenses there's no way to tell who got the benefit of DCI's greater management "efficiency". EDIT: If it's reasonable to presume that the corps benefited most from this increase in effeciency, I have to ask: What the heck are they complaining about? With all that DCI does to produce a tour (venue, rights, travel, etc) is it reasonable to think that a "Music in Motion" tour could be produced more efficiently? The Academy Program Expense "Efficiency" (as defined above) 2008: Not determinable 2009: Of $638,184 in Total Expenses, $560,385 (87.8%) were PSE 2010: Of $632,110 in Total Expenses, $429,162 (67.8%) were PSE Quote Link to comment Share on other sites More sharing options...
Jeff Ream Posted December 26, 2012 Share Posted December 26, 2012 The Academy Program Expense "Efficiency" (as defined above) 2008: Not determinable 2009: Of $638,184 in Total Expenses, $560,385 (87.8%) were PSE 2010: Of $632,110 in Total Expenses, $429,162 (67.8%) were PSE thats a large jump from 87 to 67 Quote Link to comment Share on other sites More sharing options...
garfield Posted December 26, 2012 Author Share Posted December 26, 2012 thats a large jump from 87 to 67 I thought so, too. In 2009 they spent $76,180 on MGE expenses and in '10 they spend over $202,000. Quote Link to comment Share on other sites More sharing options...
garfield Posted December 26, 2012 Author Share Posted December 26, 2012 The Academy Balance Sheet I've been looking at Academy's Balance sheet and I wish I could find something profound enough about it to list each asset and liability, but I just can't. 2008's report is not available in their "EZ" form, and 2009 and 2010 are about as boring as we've seen so far. Nothing at all sticks out; nothing changed much. Except, that is, for the bottom line. They added about $67,000, or about 20%, to their net assets in 2010. From what I've seen so far, The Academy is, financially, a solid, well-run organization who's biggest worry is whether there will be a circuit in which they can compete. I do find it interesting that Academy (and other's recently in our review here) have been able to increase "membership dues" in the last few years, and wonder if it's related to placement and/or awareness of the corps. I admit to knowing very little about the corps until recent years and I'd bet that, as more fans notice them, they can get a higher rate on their dues. In Academy's case, it appears "membership dues" includes camp fees. Their increase in "dues" (from $291,000 in '09 to $357,000 in '10) may also indicate more kids trying out for Academy as well as a general increase in dues. Both, or either, would be great for the corps. I appreciate a corps that minds it's financial P's and Q's. It seems I can be confident in sending my kid to Tempe for Thanksgiving. Nice job, Academy. Quote Link to comment Share on other sites More sharing options...
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