Tri-State Center For The Arts Inc
- Assets
- $2.4m
- Revenue
- $150.1k
- Investments
- $0.0
- Employees
- 60
- Location
- Sharon, CT
- Founding
- 09/1991
- Data as of
- 12/2023
- EIN
- 14-1729925
Organization Overview
Tri-State Center For The Arts Inc is located in Sharon, CT. The organization was established in 1991. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Tri-State Center For The Arts Inc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tri-State Center For The Arts 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 12/2023, Tri-State Center For The Arts Inc generated $150.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (15.9%) each year. All expenses for the organization totaled $145.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (18.6%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE COMMUNITY TOGETHER THROUGH THE PERFORMING ARTS BY ENTERTAINING THE COMMUNITY OF NORTHWEST CONNECTICUT AND BEYOND, WHILE ALSO SERVING AS A TEACHING THEATER TO ENCOURAGE ASPIRING ACTORS AND OTHER THEATRE ARTISTS OF ALL AGES TO DEVELOP THEIR CRAFT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESENT THEATRICAL AND MUSICAL PRODUCTIONS IN THE COMMUNITY; EDUCATIONAL WORKSHOPS, READINGS OF NEW WORKS, AND SPECIAL EVENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gigi Noyes Director | Trustee | 1 | $0 |
Karen Grimaldi Director | Trustee | 1 | $0 |
Rob Fish Director | Trustee | 1 | $0 |
John Christian Lange Director | Trustee | 1 | $0 |
Amy Danis Director | Trustee | 1 | $0 |
Melinda Sweet Director | Trustee | 1 | $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 | $112,837 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,837 |
| Total Program Service Revenue | $27,639 |
| Investment income | $7,691 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,520 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $404 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $150,091 |
| 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 | $63,504 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,662 |
| 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 | $0 |
| Advertising and promotion | $13,832 |
| Office expenses | $2,887 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,109 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,716 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,542 |
| Insurance | $9,823 |
| All other expenses | $0 |
| Total functional expenses | $145,851 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,323 |
| Savings and temporary cash investments | $1,011,347 |
| Pledges and grants receivable | $2,475 |
| 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 | $1,000 |
| Prepaid expenses and deferred charges | $75,165 |
| Net Land, buildings, and equipment | $1,224,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,372,173 |
| Accounts payable and accrued expenses | $54,101 |
| 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 | $270,619 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $324,720 |
| Net assets without donor restrictions | $2,043,210 |
| Net assets with donor restrictions | $4,243 |
| 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 | $2,372,173 |