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Every ballet company's tax return is public record. Most dancers have never seen one.

Liza Yntema, founder of the Dance Data Project, and Griff Braun, National Organizing Director at the American Guild of Musical Artists, walk us through what the numbers reveal. We start with the 990, how to read it, and what a company's revenue structure tells you about its priorities. From there we get into the funding landscape, leadership compensation, and why the gap between what artistic directors make and what dancers make is worth paying attention to.

On the contract side, Griff breaks down what's in a collective bargaining agreement, what dancers should look for when they sign, and what generations of dancers have fought to put in those documents. We also get into the one-year contract cycle, the psychological weight it puts on dancers, and how the U.S. compares to countries that fund their arts institutions in a meaningful way.

We also address the pay-to-play question directly: the trainee model, sponsored dancers, and the financial barriers that quietly shape who gets to have a professional ballet career.

Plus: board governance, leadership training, and what would need to change for ballet companies to function differently.

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