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North Carolina Dance Theatre Executive Committee
April 7, 2014
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Our Mission: Artistic Excellence
North Carolina Dance Theatre 5/22/2018 Our Mission: Artistic Excellence To provide artistically excellent programming to diverse audiences in our home city of Charlotte, the Southeast region, and to the varied communities we serve while on tour across the nation. Doug
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North Carolina Dance Theatre Vote Minutes from February & March
5/22/2018 Welcome Vote Minutes from February & March Doug
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North Carolina Dance Theatre
5/22/2018 Strategic Planning Deloitte 5-Year HIGH Level Strategic Plan Carole Millberg & Jared Anthony Doug
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North Carolina Dance Theatre Nominations
5/22/2018 Governance Committee Nominations Doug
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North Carolina Dance Theatre
5/22/2018 Governance Committee Other Ballet Organizations Update on Process/Conversations Charlotte School of Ballet Charlotte Youth Ballet Doug
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North Carolina Dance Theatre
5/22/2018 Financial Update Fiscal Year 2014 Projected Year End With Fiscal Year 2015 Draft Doug
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Revenue – Total FY14 Projected YE FY 15 Draft Budget
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Earned Revenue – Total FY14 Projected YE FY 15 Draft Budget
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Earned Revenue – Performance (Ticket Sales & Touring)
FY14 PYE Process FY 15 FY14 Budget to Actual FY14 -16% positive variance from budget to actual FY 15 Draft Budget Touring decrease– Chautauqua Only FY15 represents a 15% increase from FY14 projected year end Nutcracker & Story Book critical to success FY14 ROI: $4.81/FY15 ROI: $4.50 Nut Capacity: FY 14: 82%/FY15: 76% Target: new to file patrons Nutcracker feeds Story Book Transfer Increase in Expenses to Achieve: $82K Production/$52K Marketing
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Earned Revenue – Academy
FY14 PYE Process FY 15 FY14 Budget to Actual FY14 - 5% positive variance from budget to actual FY 15 Draft Budget School Year based on slight increase in fees/not tuition at this time FY15 represents a 16% increase from FY14 projected year end due to Summer Intensive Growth Revenue Increase: $145K Expense Increase: $76K Net Positive: $69K
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Earned Revenue – Education
FY14 PYE Process FY 15 FY14 Budget to Actual FY % positive variance from budget to actual New Summer Camp Program FY 15 Budget Summer Camp to Split Fiscal Cycles: $10k in revenue per session: two sessions
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Earned Revenue – Total FY14 Projected YE FY 15 Draft Budget FY14 PYE
Process FY14 Projected YE FY 15 Draft Budget
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Contributed Revenue – Total
FY14 PYE Process FY14 Projected YE FY 15 Draft Budget
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Contributed Revenue– Foundation & Govt.
FY14 PYE Process FY 15 FY14 Budget to Actual FY % negative variance from budget to actual ASC & Knight Fnd & REACH! FY 15 Budget Government Grants – Flat ASC Funding – Flat (positive early results) Knight Foundation - confirmed Blumenthal Fnd ($12,500)
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Contributed Revenue– Corporate
FY14 PYE Process FY 15 FY14 Budget to Actual FY % negative variance from budget to actual Innovative & Othello Reconciliation in process FY 15 Draft Budget Wells Fargo – Confirmed Deloitte – Confirmed Increase – Branding $75K $25K Confirmed Innovative & Spring – reflects FY14 Budget
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Contributed Revenue– Individual
FY14 PYE Process FY 15 FY14 Budget to Actual FY % negative variance from budget to actual Multi-Year Artistic Asset not realized FY 15 Budget Board Gifts – Increase $25k (22%) Other Gifts – Increase $15K (9%) Commissions – Increase $12.5K (26%) Includes cash released from restriction
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Contributed Revenue– Benefits & Affiliates
FY14 PYE Process FY 15 FY14 Budget to Actual FY % positive variance from budget to actual Multi-Year Artistic Asset not realized FY 15 Draft Budget Gala Net – decreased $68k from actual FY14 (18%) Raffle – decrease $20K (100%)
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Contributed Revenue – Total
FY14 Projected YE FY 15 Draft Budget
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Expenses – Total FY14 Projected YE FY 15 Draft Budget
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Expenses – Payroll FY14 Budget to Actual FY 15 Draft Budget
FY14 PYE Process FY 15 FY14 Budget to Actual FY14 - 1% negative variance from budget to actual FY 15 Draft Budget Dancers Total Salary increase 11% 5 artist positions advanced in category All eligible employees budgeted for Health Insurance 57 Eligible (32 Employees FY14) Workers Comp Renews Sept 2014 Budgeted Increase 65% All employees 4% increase minimum Social Media Position added
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Expenses – Performance Expense
FY14 PYE Process FY 15 FY14 Budget to Actual FY14 - 2% negative variance from budget to actual Increase in Box Office Expense (Nutcracker Success) FY 15 Draft Budget Theater & Stagehands – 3% Peter Pan Stagehands - +7 Charlotte Symphony – 4 additional performance – $40K Box Office & FOH Staff increase
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Expenses – Academy Expense
FY14 PYE Process FY 15 FY14 Budget to Actual FY % negative variance from budget to actual SERBA – Pass though expense Parent Guild Boutique (Net Positive) FY 15 Draft Budget Summer Intensive: $49K (UNCC) Parent Guild Boutique Inventory Increase
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Expenses – Marketing Expense
FY14 PYE Process FY 15 FY14 Budget to Actual FY % negative variance from budget to actual $60k to support Rebrand 8K – Contract Labor – PR 52K – Direct Mail & OOH Campaign FY 15 Draft Budget Nutcracker Increase: $52K Website & Photography Increase $32K to Support Branding Advertising Campaign Monthly
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Expenses – Facilities/Admin
FY14 PYE Process FY 15 FY14 Budget to Actual FY % negative variance from budget to actual $17k to support Rebrand (Supplies & Signage) $20K Credit Card Fees– Accurately tracked FY 15 Budget $19K Professional Development $15K Technology Plan Investment
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Contingency FY15 Draft Budget FY 15 Draft Budget $137,000 Total
FY14 PYE Process FY 15 FY15 Draft Budget $137,000 Total $10K Professional Development Pull Back on Professional Development $10K Marketing Discretionary Opportunities $57K Health Insurance Enrollment same as FY14 $60K Workers Compensation Increase is only 20% vs 80% FY 15 Draft Budget
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Surplus FY14 PYE Process FY 15 FY 14 Projected YE FY 15 Draft Budget
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North Carolina Dance Theatre
5/22/2018 Financial Update Fiscal Year 2014 Projected Year End Vote Recommend Draft FY15 to Board of Trustees Doug
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Appendix
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Source Material File name Link March Executive Committee Report
Draft Budget FY15 Branding Spend Technology Plan
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