Nantucket Arts Council Inc
- Assets
- $693.2k
- Revenue
- $81.2k
- Investments
- $0.0
- Employees
- 2
- Location
- Nantucket, MA
- Founding
- 10/1974
- Data as of
- 06/2021
- EIN
- 04-2545302
Organization Overview
Nantucket Arts Council Inc is located in Nantucket, MA. The organization was established in 1974. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Nantucket Arts Council Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nantucket Arts Council Inc 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 06/2021, Nantucket Arts Council Inc generated $81.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (14.5%) each year. All expenses for the organization totaled $112.3k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (12.8%) per year over the past 6 years. 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
SUPPORT AND ENCOURAGE A COLLABORATIVE COMMUNITY OF THE VISUAL, PERFORMING AND LITERARY ARTS THROUGH EDUCATION, GRANTS, SCHOLARSHIPS AND EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE OPERATION OF A PERFORMANCE CENTER AND THE SPONSORING OF CONCERTS, RECITALS, AND OTHER CULTURAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pam Murphy Clerk | OfficerTrustee | 1 | $0 |
Barbara Elder President/treasurer | OfficerTrustee | 1 | $0 |
Beverly Hall Vice President | OfficerTrustee | 1 | $0 |
Robert Frazier Director | Trustee | 1 | $0 |
Sharon Lorenzo Director | Trustee | 1 | $0 |
Elizabeth Morris Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,195 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $64,195 |
| Total Program Service Revenue | $0 |
| Investment income | $10,895 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,141 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $81,231 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,000 |
| Grants and other assistance to domestic individuals. | $22,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,710 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,671 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $195 |
| Advertising and promotion | $1,196 |
| Office expenses | $2,295 |
| Information technology | $1,560 |
| Royalties | $0 |
| Occupancy | $13,780 |
| 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 | $0 |
| Insurance | $8,242 |
| All other expenses | $59 |
| Total functional expenses | $112,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,207 |
| Savings and temporary cash investments | $0 |
| 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 | $2,660 |
| Net Land, buildings, and equipment | $500 |
| Investments—publicly traded securities | $669,118 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,750 |
| Total assets | $693,235 |
| Accounts payable and accrued expenses | $375 |
| 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 | $12,023 |
| Other liabilities | $0 |
| Total liabilities | $12,398 |
| Net assets without donor restrictions | $680,837 |
| Net assets with donor restrictions | $0 |
| 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 | $693,235 |
Grants Awarded
Over the last fiscal year, Nantucket Arts Council Inc has awarded $6,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Shrewsbury, MA PURPOSE: COLLEGE SCHOLARSHIPS FOR ART STUDY | $3,000 |
Nashville, TN PURPOSE: COLLEGE SCHOLARSHIPS FOR ART STUDY | $3,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nantucket Arts Council Inc has recieved totaling $100.
| Awarding Organization | Amount |
|---|---|
Clara Foundation Inc Siasconset, MA PURPOSE: GENERAL & UNRESTRICTED | $100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lower Manhattan Cultural Council Inc New York, NY | $12,296,474 | $4,161,213 |
Vermont Council On The Arts Inc Montpelier, VT | $1,668,560 | $4,418,731 |
Cny Arts Inc Syracuse, NY | $3,639,990 | $4,131,478 |
Artswestchester Inc White Plains, NY | $12,989,925 | $5,051,265 |
Brooklyn Arts Council Brooklyn, NY | $3,792,186 | $4,166,214 |
The Council For Canadian American Relations Inc New York, NY | $2,490,659 | $3,178,474 |
Spaceworks Nyc Inc New York, NY | $311,147 | $269,250 |
Bronx Council On The Arts Inc Bronx, NY | $7,969,070 | $2,295,657 |
Dance Service New York City Inc New York, NY | $6,304,489 | $5,030,876 |
Flushing Council On Culture And The Arts Inc Flushing, NY | $1,674,385 | $1,969,249 |
Vermont Humanities Council Montpelier, VT | $3,523,596 | $2,606,511 |
Greater Hartford Arts Council Incorporated Hartford, CT | $1,934,139 | $1,572,575 |