Essex Art Center Inc
- Assets
- $620.6k
- Revenue
- $539.2k
- Investments
- $253.7k
- Employees
- 4
- Location
- Lawrence, MA
- Founding
- 02/1995
- Data as of
- 09/2021
- EIN
- 04-3238501
Organization Overview
Essex Art Center Inc is located in Lawrence, MA. The organization was established in 1995. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2021, Essex Art Center Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Essex Art Center 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 09/2021, Essex Art Center Inc generated $539.2k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $443.5k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (1.6%) 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
TO INSPIRE AND NURTURE THE DIVERSE ARTISTIC POTENTIAL OF THE GREATER LAWRENCE COMMUNITY THROUGH CLASS EXPLORATION AND GALLERY EXHIBITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESSEX ART CENTER IS A NON-PROFIT ART ORGANIZATION WITH A MISSION TO INSPIRE AND NURTURE THE DIVERSE ARTISTIC POTENTIAL OF THE GREATER LAWRENCE COMMUNITY THROUGH CLASSROOM EXPLORATION AND GALLERY EXHIBITIONS - MAKING THE CREATION AND ENJOYMENT OF ART ACCESSIBLE TO ALL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Mclaurin Former Executive Director | 40 | $88,279 | |
Anne Thiam Chair | OfficerTrustee | 2 | $0 |
Paul Kotakis Vice Chair | OfficerTrustee | 2 | $0 |
Joseph Carreiro Treasurer | OfficerTrustee | 2 | $0 |
Monica Manoski Executive Director | Officer | 40 | $0 |
Andre Hester Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $339,561 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $380,861 |
| Total Program Service Revenue | $155,332 |
| Investment income | $6,733 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $440 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,190 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $539,176 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $173,284 |
| Pension plan accruals and contributions | $3,776 |
| Other employee benefits | $0 |
| Payroll taxes | $18,004 |
| 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 | $0 |
| Fees for services: Other | $115,326 |
| Advertising and promotion | $199 |
| Office expenses | $14,201 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $75,098 |
| 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 | $4,904 |
| Insurance | $6,595 |
| All other expenses | $2,226 |
| Total functional expenses | $443,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,320 |
| Savings and temporary cash investments | $318,587 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,507 |
| 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 | $7,503 |
| Net Land, buildings, and equipment | $27,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $253,688 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $620,567 |
| Accounts payable and accrued expenses | $13,602 |
| 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 | $0 |
| Total liabilities | $13,602 |
| Net assets without donor restrictions | $563,965 |
| Net assets with donor restrictions | $43,000 |
| 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 | $620,567 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Essex Art Center Inc has recieved totaling $201,549.
| Awarding Organization | Amount |
|---|---|
Amelia Peabody Foundation Wellesley, MA PURPOSE: YOUTH ART PROGRAM | $45,000 |
Essex County Community Foundation Incorporated Danvers, MA | | $33,500 |
The Garth Family Foundation Boston, MA PURPOSE: GENERAL FUND | $25,000 |
Josephine G Russell Trust Andover, MA PURPOSE: EDUCATION | $20,000 |
Willard C Tilson Foundation Exeter, NH PURPOSE: ONGOING OPERATIONAL SUPPORT | $20,000 |
New Balance Foundation Boston, MA PURPOSE: GENERAL SUPPORT | $15,000 |
Endowment Analysis
| Beg. Balance | $16,082 |
| Net Contributions | $43,000 |
| Other Expense | $16,082 |
| Ending Balance | $43,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattan School Of Music New York, NY | $110,734,113 | $63,876,459 |
Art Students League Of New York New York, NY | $112,886,191 | $14,274,262 |
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
Artists For Humanity Inc Boston, MA | $38,813,967 | $6,181,666 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |
The Arts Connection Inc New York, NY | $2,703,336 | $4,972,330 |
Alliance For Young Artists & Writers Inc New York, NY | $7,496,330 | $3,366,982 |
Marquis Studios Ltd Brooklyn, NY | $2,435,475 | $3,259,805 |