The AADF received gifts from New York, major grants, and plenty of gifts from the "inner circle," which were mostly board members at the time.
It will house the performing company as well as all AADF programs.
RELIANCE ON DISCRETIONARY REVENUES: AADF is reliant on public support and performance fees, both of which can vary from year to year, and are discretionary sources of revenue.
Given AADF's balanced investment portfolio strategy and positive operations, financial resources for AADF are expected to remain at current levels.
AADF has demonstrated operating flexibility in a challenging environment by realizing revenue growth from educational activities and has been aided by performance fees which have trended positively for the past three years.
AADF performance based revenues generally offset related expenses as the foundation is able to curtail costs in event of fewer than expected scheduled performances.
AADF entire capital structure is composed of variable rate debt of $14.
Over 85% of pledges have been collected to date and AADF
benefits from a generous and committed board and an expanding donor base.
AADF supports the activities of Alvin Ailey American Dance Theater (AAADT), one of the world's leading dance companies, The Ailey School, Ailey II, and Ailey Arts in Education and Community Outreach programs.
8 million of grants and pledges receivable, these assets give AADF a healthy financial cushion to deal with any future fluctuations in public grants, philanthropy, attendance, or interest rates.
Because the bonds are initially being issued in a weekly rate mode, there is currently no obligation for AADF to provide continuing disclosure under SEC Rule 15c2-12.