Greenwich Arts Council Inc
- Assets
- $749.5k
- Revenue
- $340.4k
- Investments
- $553.5k
- Employees
- 6
- Location
- Greenwich, CT
- Founding
- 10/1973
- Data as of
- 06/2022
- EIN
- 23-7224200
Organization Overview
Greenwich Arts Council Inc is located in Greenwich, CT. The organization was established in 1973. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Greenwich Arts Council Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwich Arts Council 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 06/2022, Greenwich Arts Council Inc generated $340.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (10.8%) each year. All expenses for the organization totaled $281.2k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (13.6%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE INDIVIDUAL CREATIVITY AND TO BROADEN COMMUNITY PARTICIPATION IN, APPRECIATION OF, AND SUPPORT FOR THE VISUAL, PERFORMING, AND LITERARY ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE THE ARTS BY NURTURING ARTISTS AND BUILDING AUDIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dorianne Samuels President | OfficerTrustee | 20 | $0 |
Susan Kalla Vice President | OfficerTrustee | 15 | $0 |
Priou Fereshteh Treasurer | OfficerTrustee | 15 | $0 |
Linda Shirley Secretary | OfficerTrustee | 15 | $0 |
Andrew Borner Director | Trustee | 5 | $0 |
Laurel Frost Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $111,419 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,419 |
| Total Program Service Revenue | $21,184 |
| Investment income | $58,584 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $149,862 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,654 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $340,395 |
| 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 | $134,875 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,748 |
| Payroll taxes | $13,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,606 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,859 |
| Fees for services: Other | $6,686 |
| Advertising and promotion | $449 |
| Office expenses | $12,690 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,768 |
| 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 | $23,343 |
| Insurance | $13,834 |
| All other expenses | $2,349 |
| Total functional expenses | $281,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$1 |
| Savings and temporary cash investments | $68,911 |
| 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 | $3,283 |
| Net Land, buildings, and equipment | $123,862 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $553,478 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $749,533 |
| Accounts payable and accrued expenses | $4,289 |
| 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 | $30,920 |
| Total liabilities | $35,209 |
| Net assets without donor restrictions | $657,503 |
| Net assets with donor restrictions | $56,821 |
| 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 | $749,533 |