Washington Art Association Inc
- Assets
- $1.2m
- Revenue
- $743.4k
- Investments
- $718.0k
- Employees
- 0
- Location
- Washington Depot, CT
- Founding
- 02/1972
- Data as of
- 12/2021
- EIN
- 06-0754956
Organization Overview
Washington Art Association Inc is located in Washington Depot, CT. The organization was established in 1972. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Washington Art Association 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 12/2021, Washington Art Association Inc generated $743.4k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.4% each year . All expenses for the organization totaled $332.8k during the year ending 12/2021. While expenses have increased by 2.3% 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
INSTRUCTION AND EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSES ON ART INSTRUCTION, EXHIBITION OF MEMBERS WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Kaplan President / Trustee | OfficerTrustee | 1 | $0 |
Stephanie Johnson Vice President / Trustee | OfficerTrustee | 1 | $0 |
Ramsay Turnbull Secretary / Trustee | OfficerTrustee | 1 | $0 |
Mark Zerbe Treasurer / Trustee | OfficerTrustee | 5 | $0 |
Joe Austin Trustee | Trustee | 0 | $0 |
Souby Boski Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $248,151 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $295,344 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $543,495 |
| Total Program Service Revenue | $186,164 |
| Investment income | $997 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,773 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $743,429 |
| 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. | $120,655 |
| Compensation of current officers, directors, key employees. | $46,580 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,251 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,570 |
| Fees for services: Other | $1,055 |
| Advertising and promotion | $2,471 |
| Office expenses | $4,716 |
| Information technology | $3,382 |
| 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 | $13,347 |
| Insurance | $12,071 |
| All other expenses | $47,736 |
| Total functional expenses | $332,844 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $160,120 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,263 |
| 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 | $332,089 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $718,003 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,211,475 |
| Accounts payable and accrued expenses | $3,388 |
| 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 | $3,388 |
| Net assets without donor restrictions | $1,156,271 |
| Net assets with donor restrictions | $51,816 |
| 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 | $1,211,475 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Washington Art Association Inc has recieved totaling $250.
| Awarding Organization | Amount |
|---|---|
Sharon And Lewis Korman Foundation New York, NY PURPOSE: FOR OPERATIONS | $250 |
Endowment Analysis
| Beg. Balance | $354,181 |
| Earnings | $29,973 |
| Admin Expense | $6,580 |
| Net Contributions | $3,500 |
| Other Expense | $10,625 |
| Ending Balance | $370,449 |
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 |