Essex Art Center Inc
- Assets
- $1.0m
- Revenue
- $563.7k
- Investments
- $0.0
- Employees
- 11
- Location
- Lawrence, MA
- Founding
- 02/1995
- Data as of
- 09/2023
- 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 09/2023, Essex Art Center Inc employed 11 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 09/2023, Essex Art Center Inc generated $563.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $615.6k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ESSEX ART CENTER IS A NON-PROFIT 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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSROOM EXPLORATION, COMMUNITY OUTREACH & GALLERY EXHIBITION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne Thiam Chair | OfficerTrustee | 2 | $0 |
Merylinda Santiago Vice Chair | OfficerTrustee | 2 | $0 |
Karen Van Welden-Herman Secretary | OfficerTrustee | 2 | $0 |
Paul Therkelsen Treasurer | OfficerTrustee | 2 | $0 |
Allison Rieke Development Chair | Trustee | 2 | $0 |
Caitlyn Aguiar Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $49,090 |
| All other contributions, gifts, grants, and similar amounts not included above | $294,895 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $343,985 |
| Total Program Service Revenue | $194,432 |
| Investment income | $10,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,487 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $563,654 |
| 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 | $230,324 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,620 |
| Payroll taxes | $18,256 |
| Fees for services: Management | $1,700 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,862 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $110,311 |
| Advertising and promotion | $7,207 |
| Office expenses | $38,566 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $51,021 |
| 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 | $10,928 |
| Insurance | $8,049 |
| All other expenses | $2,989 |
| Total functional expenses | $615,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,594 |
| Savings and temporary cash investments | $379,638 |
| Pledges and grants receivable | $10,000 |
| Accounts receivable, net | $1,250 |
| 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 | $1,504 |
| Net Land, buildings, and equipment | $58,140 |
| Investments—publicly traded securities | $233,272 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $198,602 |
| Total assets | $1,020,000 |
| Accounts payable and accrued expenses | $17,414 |
| Grants payable | $0 |
| Deferred revenue | $4,289 |
| 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 | $198,602 |
| Total liabilities | $220,305 |
| Net assets without donor restrictions | $699,695 |
| Net assets with donor restrictions | $100,000 |
| 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 | $1,020,000 |