Marblehead Arts Association
- Assets
- $1.0m
- Revenue
- $236.2k
- Investments
- $0.0
- Employees
- 7
- Location
- Marblehead, MA
- Founding
- 05/1953
- Data as of
- 05/2024
- EIN
- 04-2078801
Organization Overview
Marblehead Arts Association is located in Marblehead, MA. The organization was established in 1953. 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 05/2024, Marblehead Arts Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marblehead Arts Association 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 05/2024, Marblehead Arts Association generated $236.2k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $226.6k during the year ending 05/2024. While expenses have increased by 1.9% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE APPRECIATION OF THE FINE AND APPLIED ARTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL ACTIVITIES RELATE DIRECTLY TO THE ORGANIZATION'S PURPOSE. THIS WAS ACCOMPLISHED BY PRESENTING EXHIBITS,PROGRAMS,CLASSES AND SPECIAL EVENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Murphy President | OfficerTrustee | 10 | $0 |
Amy Goldfarb Treasurer | OfficerTrustee | 10 | $0 |
Dbruce Greenwald Director, House Committee | Trustee | 10 | $0 |
Larry Dunn Director, Art Committee | Trustee | 6 | $0 |
Xhazzie Kindle Director Of Operations | Trustee | 30 | $51,670 |
Alessandra Donovan Membership, Community Liason | Officer | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $27,090 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $18,180 |
| All other contributions, gifts, grants, and similar amounts not included above | $112,511 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $157,781 |
| Total Program Service Revenue | $3,596 |
| Investment income | $10,812 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,334 |
| 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 | $236,223 |
| 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. | $51,670 |
| Compensation of current officers, directors, key employees. | $20,668 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,192 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,060 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,077 |
| Advertising and promotion | $6,197 |
| Office expenses | $2,767 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,841 |
| Insurance | $14,723 |
| All other expenses | $11,036 |
| Total functional expenses | $226,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,640 |
| Savings and temporary cash investments | $254,171 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $547,595 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $176,542 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,022,948 |
| Accounts payable and accrued expenses | $5,362 |
| Grants payable | $0 |
| Deferred revenue | $2,125 |
| 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 | $30,451 |
| Total liabilities | $37,938 |
| Net assets without donor restrictions | $888,443 |
| Net assets with donor restrictions | $96,567 |
| 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 | $1,022,948 |