Financials

Tapestry Folkdance Center Financial Information

It costs about $485 per day to operate Tapestry Folkdance Center. Revenue from dances is about $89,000 per year, while operating expenses (not including building renovation or depreciation) for the current fiscal year are projected at $176,849. Besides dance revenue, Tapestry relies upon studio rentals, memberships, grants and contributions from organizations and – most crucially – individuals. We invite you to consider supporting Tapestry Folkdance Center by making a donation or by becoming a member.

If you are interested in understand the financial status of Tapestry, you can review the financial documents provided below, together with a multi-year financial summary. Financial statements are compiled monthly by Tapestry staff, and reviewed by the full Board of Directors at every meeting. Tax documents are prepared annually by staff, with the assistance of the Board’s Treasurer.

Current Financial Documents

Form 990 for Fiscal Year 2014-2015

Past Financial Documents

Form990FiscalYear2013–2014withSchADO

Financial Statement Summary

Form990FiscalYear2012WithSchADO

Form990FiscalYear2011

Congratulations and Thank You – The $30,000 Gift Match Was Reached!

There has been wonderful response from donors contributing funds for general operations; for the Minnehaha road construction project; and for “wherever it is most needed.” As of 12/16/2015, we met the $30,000 match!

But Tapestry is continuing its 2015-2016 fundraising campaign with the goal of raising an additional $15,000, per the advice of Bruce Nelson, Chair of the Facilities Committee. Here’s why…

  • When the “Bricks, Tar & Air” building campaign was launched, we expected to do minor enhancements to exterior lighting. As a result of a lighting efficiency audit, it’s become clear that it makes financial sense to overhaul the interior lighting in both studios.
  • We now know that the HVAC system replacement will be more involved and more costly than originally anticipated.
  • There are several potential treatments that could be applied to enhance the surface of the parking lots and the Facilities Committee is looking at the pros and cons (and price tags) of each approach.

If you’ve been considering making a gift, please do so, even though the matching grant has already been secured.

Minnehaha Reconstruction Assessment

At its December meeting, the Board adopted a board resolution of intent to pay the $38,000 Minnehaha road construction Assessment in full when the bill comes due in November 2016. As one board member said, “I love this place, and want to have it here when I’m dancing in my 80s and 90s.” Paying off the obligation and avoiding taking on debt to finance it is an investment in Tapestry and a gift to dancers for decades to come.

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