Watercolor Art Society-Houston
- Assets
- $805.5k
- Revenue
- $247.3k
- Investments
- $0.0
- Employees
- 2
- Location
- Houston, TX
- Founding
- 08/1977
- Data as of
- 05/2022
- EIN
- 23-7451855
Organization Overview
Watercolor Art Society-Houston is located in Houston, TX. The organization was established in 1977. 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 05/2022, Watercolor Art Society-Houston employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watercolor Art Society-Houston 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 05/2022, Watercolor Art Society-Houston generated $247.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $260.2k during the year ending 05/2022. 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 FURTHER THE CAUSE AND INTEREST IN WATERMEDIA ART, THROUGH TEACHING PROGRAMS, DEMONSTRATIONS, OUTREACH AND EXHIBITIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLASSES AND WORKSHOPS
ART EXHIBITS AND COMPETITIONS
SALES OF EXHIBITED PAINTINGS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Mossman Iwe Director | Trustee | 5 | $22,154 |
Diann Zimmerman Education Director | Trustee | 30 | $3,779 |
Ksenia Annis Communications Director | Trustee | 3 | $1,778 |
Irene Sheytman Co-Vice President | Trustee | 5 | $788 |
Paula Fowler Gallery Director | Trustee | 5 | $0 |
Karen Stopnicki Website Director | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $39,345 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,046 |
| Noncash contributions included in lines 1a–1f | $1,682 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,391 |
| Total Program Service Revenue | $151,862 |
| Investment income | $25 |
| 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 | $247,278 |
| 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 | $32,625 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $97,468 |
| Advertising and promotion | $6,079 |
| Office expenses | $45,972 |
| Information technology | $1,250 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,546 |
| 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 | $27,265 |
| Insurance | $10,989 |
| All other expenses | $0 |
| Total functional expenses | $260,228 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,059 |
| Savings and temporary cash investments | $279,606 |
| 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 | $370 |
| Net Land, buildings, and equipment | $472,480 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $805,515 |
| Accounts payable and accrued expenses | $1,443 |
| 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 | $1,443 |
| 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 | $804,072 |
| Total liabilities and net assets/fund balances | $805,515 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Watercolor Art Society-Houston has recieved totaling $25,500.
| Awarding Organization | Amount |
|---|---|
Communities Foundation Of Texas Dallas, TX PURPOSE: THIS GRANT IS DESIGNATED FOR GENERAL SUPPORT. | $10,000 |
Mcneill Charitable Foundation Inc Houston, TX PURPOSE: TO PROMOTE WATERCOLOR ART CLASSES | $10,000 |
Jack And Annis Bowen Foundation Carmine, TX PURPOSE: UNRESTRICTED | $5,000 |
Shell Oil Company Foundation Houston, TX PURPOSE: MG | $500 |
Endowment Analysis
| Beg. Balance | $87,075 |
| Earnings | $8 |
| Net Contributions | $5,000 |
| Other Expense | $2,200 |
| Ending Balance | $89,883 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Contemporary Dallas, TX | $3,580,432 | $1,729,811 |
Louisiana Art And Science Museum Inc Baton Rouge, LA | $6,561,733 | $3,010,375 |
Kid Smart New Orleans, LA | $1,431,671 | $1,483,541 |
Glass Control Inc Emp Ben Tr Lubbock, TX | $187,823 | $1,183,121 |
Ballroom Cultural Arts Foundation Marfa, TX | $1,422,501 | $1,165,140 |
Gil And Dody Weaver Foundation Dallas, TX | $0 | $964,218 |
Fotofest Inc Houston, TX | $1,959,929 | $2,155,129 |
Interform Springdale, AR | $499,617 | $931,526 |
Inspiration Point Fine Arts Colony Inc Eureka Springs, AR | $3,726,831 | $2,341,148 |
Dallas Spark Dallas, TX | $494,166 | $779,653 |
Valere B Potter Trust Uw Dallas, TX | $5,062,926 | $695,206 |
Creative Arts Center Of Dallas Dallas, TX | $609,840 | $730,284 |