Hartford Art School Inc
- Assets
- $20.6m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- West Hartford, CT
- Founding
- 11/1989
- Data as of
- 06/2023
- EIN
- 06-1256949
Organization Overview
Hartford Art School Inc is located in West Hartford, CT. The organization was established in 1989. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hartford Art School 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 06/2023, Hartford Art School Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $880.9k during the year ending 06/2023. 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
STUDENTS ARE AT THE HEART OF OUR MISSION. THE PURPOSES AND OBJECTIVES OF THE HARTFORD ART SCHOOL ENDOWMENT, INC. ARE TO MONITOR AND ASSIST THE UNIVERSITY OF HARTFORD IN THE CONDUCT OF THE HARTFORD ART SCHOOL AS A FIRST QUALITY, FULLY ACCREDITED PROFESSIONAL SCHOOL OF FINE ARTS, AND FURTHER TO PROMOTE AND ENCOURAGE THE STUDY AND PRACTICE OF FINE ARTS AND ANY RELATED STUDIO DISCIPLINES WHICH IN ITS' OPINION ARE NECESSARY, VALUABLE AND PERTINENT TO THE CURRICULUM OF SUCH A SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVANCING ACADEMIC AND PROGRAM EXCELLENCE AS WELL AS CONTRIBUTING TO THE FINANCIAL SUPPORT OF DESERVING STUDENTS WHO DEMONSTRATE MERIT AND/OR FINANCIAL NEED AT THE UNIVERSITY OF HARTFORD ART SCHOOL. THE ENDOWMENT FUND CONTRIBUTED 709,015 TO THE UNIVERSITY OF HARTFORD IN ORDER TO SUPPORT ITS MISSION FOR THE FISCAL YEAR ENDED 6/30/2023. THESE FUNDS HELP PROVIDE OPERATING, PROGRAMMING AND GALLERY SUPPORT, AS WELL AS 61 SCHOLARSHIPS AWARDED TO 55 STUDENTS BY THE UNIVERSITY OF HARTFORD TOTALING 157,051.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marty Baron Treasurer | Officer | 1 | $0 |
Tom Bradley Vice Preside | Officer | 1 | $0 |
Stephan L Christiansen President | Officer | 2 | $0 |
Danuta Syp Gordon Secretary | Officer | 0.5 | $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 | $426,226 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $426,226 |
| Total Program Service Revenue | $0 |
| Investment income | $452,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,165,452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,043,767 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,500 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,000 |
| Office expenses | $1,195 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8 |
| 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 | $800,615 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,873 |
| All other expenses | $0 |
| Total functional expenses | $880,947 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $575,068 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $20,039,015 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,614,083 |
| Accounts payable and accrued expenses | $8,875 |
| 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 | $8,875 |
| Net assets without donor restrictions | $0 |
| 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 | $20,605,208 |
| Total liabilities and net assets/fund balances | $20,614,083 |