Rowayton Arts Center Inc
- Assets
- $934.5k
- Revenue
- $316.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Rowayton, CT
- Founding
- 11/1962
- Data as of
- 12/2021
- EIN
- 06-6070045
Organization Overview
Rowayton Arts Center Inc is located in Rowayton, CT. The organization was established in 1962. 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 12/2021, Rowayton Arts Center Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rowayton Arts 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 12/2021, Rowayton Arts Center Inc generated $316.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.1% each year. All expenses for the organization totaled $292.8k during the year ending 12/2021. While expenses have increased by 3.4% 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
THE ROWAYTON ARTS CENTER (RAC) CELEBRATES THE STUDY, CREATION AND APPRECIATION OF THE ARTS THROUGH CLASSES, EXHIBITIONS AND EVENTS OPEN TO ALL IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART CLASSES OFFERED TO THE GENERAL PUBLIC. EXPENSES INCLUDE ART TEACHERS, DIRECT EXPENSES (EASELS, MODELS, ETC.) PLUS OVERHEAD. THESE CLASSES SERVE OVER 500 STUDENTS.
ART SHOWS FOR ARTISTS WHO WISH TO EXHIBIT AND SELL THEIR WORKS. EXPENSES INCLUDE DIRECT EXPENSES PLUS OVERHEAD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Letters Executive Director | OfficerTrustee | 35 | $40,417 |
Joanna Bridges President | OfficerTrustee | 20 | $0 |
Steve Mernick Treasurer | OfficerTrustee | 2 | $0 |
Lulu Mcphee Vice President | OfficerTrustee | 2 | $0 |
Judith Katz Director | Trustee | 2 | $0 |
Kathleen Weinstock Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $15,920 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,778 |
| All other contributions, gifts, grants, and similar amounts not included above | $44,158 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,856 |
| Total Program Service Revenue | $223,472 |
| Investment income | $11,249 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $316,076 |
| 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. | $40,417 |
| Compensation of current officers, directors, key employees. | $26,271 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $27,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,173 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,633 |
| Advertising and promotion | $28,766 |
| Office expenses | $8,201 |
| Information technology | $2,595 |
| Royalties | $0 |
| Occupancy | $21,108 |
| 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 | $6,411 |
| Insurance | $6,741 |
| All other expenses | $4,426 |
| Total functional expenses | $292,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,770 |
| Savings and temporary cash investments | $26,506 |
| 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 | $91,201 |
| Investments—publicly traded securities | $706,063 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $934,540 |
| Accounts payable and accrued expenses | $6,250 |
| 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 | $6,250 |
| Net assets without donor restrictions | $910,207 |
| Net assets with donor restrictions | $18,083 |
| 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 | $934,540 |
Endowment Analysis
| Beg. Balance | $630,369 |
| Earnings | $103,700 |
| Grants | $1,500 |
| Ending Balance | $732,569 |
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 |