Amarillo Art Center Association
- Assets
- $3.6m
- Revenue
- $597.2k
- Investments
- $2.4m
- Employees
- 11
- Location
- Amarillo, TX
- Founding
- 11/1969
- Data as of
- 08/2023
- EIN
- 23-7042476
Organization Overview
Amarillo Art Center Association is located in Amarillo, TX. The organization was established in 1969. 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 08/2023, Amarillo Art Center Association employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Amarillo Art Center Association 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 08/2023, Amarillo Art Center Association generated $597.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $595.2k during the year ending 08/2023. 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
TO ESTABLISH AND MAINTAIN A FINE ARTS MUSEUM
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EDUCATION AND EXHIBTION INCLUDING THE COST OF PROVIDING PUBLIC ART CLASSES, LECTURES AND ART DISPLAYS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gabrielle Bivins Trustee | Trustee | 1 | $0 |
Meaghan Collier Trustee | Trustee | 1 | $0 |
Robbin Dawson Trustee | Trustee | 1 | $0 |
Dan Dowdy Trustee | Trustee | 1 | $0 |
Teel Durrett Trustee | Trustee | 1 | $0 |
Michele Fortunato Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $56,100 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $196,103 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $252,203 |
| Total Program Service Revenue | $27,764 |
| Investment income | $128,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,580 |
| Net Gain/Loss on Asset Sales | $5,889 |
| Net Income from Fundraising Events | $177,776 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $597,225 |
| 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 | $231,689 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,496 |
| Payroll taxes | $25,755 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,399 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,494 |
| Fees for services: Other | $0 |
| Advertising and promotion | $31,739 |
| Office expenses | $3,548 |
| Information technology | $0 |
| 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 | $44,605 |
| Insurance | $23,952 |
| All other expenses | $15,680 |
| Total functional expenses | $595,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $412,660 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,765 |
| 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 | $17,120 |
| Net Land, buildings, and equipment | $829,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,351,234 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,618,107 |
| Accounts payable and accrued expenses | $75,205 |
| Grants payable | $0 |
| Deferred revenue | $117,320 |
| 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 | $192,525 |
| Net assets without donor restrictions | $1,843,067 |
| Net assets with donor restrictions | $1,582,515 |
| 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 | $3,618,107 |