Southern Vermont Arts Center Incorporated
- Assets
- $10.7m
- Revenue
- $1.5m
- Investments
- $5.5k
- Employees
- 19
- Location
- Manchester Village, VT
- Founding
- 05/1952
- Data as of
- 12/2021
- EIN
- 03-0186501
Organization Overview
Southern Vermont Arts Center Incorporated is located in Manchester Village, VT. The organization was established in 1952. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Southern Vermont Arts Center Incorporated employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Vermont Arts Center Incorporated is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Southern Vermont Arts Center Incorporated generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.6% each year . All expenses for the organization totaled $1.5m during the year ending 12/2021. While expenses have increased by 7.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND NURTURE THE ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART SCHOOL, SPECIAL EVENTS, AUXILLARY ACTIVITIES
ART SCHOOL, SPECIAL EVENTS, AUXILLARY ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Corso Executive Director | 40 | $115,000 | |
Peggy Telscher Secretary | OfficerTrustee | 1 | $0 |
Peter Radford Treasurer | OfficerTrustee | 2 | $0 |
Debbie Wight Vice President | OfficerTrustee | 1 | $0 |
Bob Van Degna President | OfficerTrustee | 3.46 | $0 |
Brian Maggiotto Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $112,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $884,075 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $996,263 |
| Total Program Service Revenue | $373,265 |
| Investment income | $48,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,500,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $115,348 |
| Compensation of current officers, directors, key employees. | $11,535 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,087 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,514 |
| Payroll taxes | $42,249 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,147 |
| Fees for services: Other | $61,522 |
| Advertising and promotion | $66,159 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $196,181 |
| Travel | $700 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $176 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $220,528 |
| Insurance | $0 |
| All other expenses | $113,532 |
| Total functional expenses | $1,531,755 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $464,355 |
| Savings and temporary cash investments | $197,438 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $251,654 |
| Prepaid expenses and deferred charges | $2,500 |
| Net Land, buildings, and equipment | $4,585,269 |
| Investments—publicly traded securities | $3,513,113 |
| Investments—other securities | $5,524 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,705,084 |
| Total assets | $10,724,937 |
| Accounts payable and accrued expenses | $98,078 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,914 |
| Total liabilities | $114,992 |
| Net assets without donor restrictions | $6,049,405 |
| Net assets with donor restrictions | $4,560,540 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,724,937 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Southern Vermont Arts Center Incorporated has recieved totaling $43,750.
| Awarding Organization | Amount |
|---|---|
Vermont Council On The Arts Inc Montpelier, VT PURPOSE: GENERAL PURPOSE | $23,000 |
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $13,250 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: ARTS AND CULTURE | $7,500 |
Endowment Analysis
| Beg. Balance | $3,036,219 |
| Earnings | $409,759 |
| Admin Expense | $25,146 |
| Other Expense | $1,213,171 |
| Ending Balance | $2,207,661 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |
St Anns Warehouse Inc Brooklyn, NY | $32,618,208 | $8,833,127 |
One Club For Creativity Inc New York, NY | $23,237,696 | $9,988,732 |
Consensus Building Institute Inc Cambridge, MA | $9,333,296 | $7,559,086 |
Judd Foundation New York, NY | $82,389,087 | $7,883,436 |
Guild Hall Of East Hampton Inc East Hampton, NY | $35,896,554 | $17,394,413 |
City Lore Inc New York, NY | $1,966,661 | $4,516,520 |
Restart Factory Inc New York, NY | $6,049,280 | $3,828,840 |