Center For The Arts Inc
- Assets
- $1.1m
- Revenue
- $744.1k
- Investments
- $7.9k
- Employees
- 23
- Location
- Murfreesboro, TN
- Founding
- 01/2008
- Data as of
- 12/2022
- EIN
- 26-1438816
Organization Overview
Center For The Arts Inc is located in Murfreesboro, TN. The organization was established in 2008. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Center For The Arts Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 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 12/2022, Center For The Arts Inc generated $744.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $713.8k during the year ending 12/2022. While expenses have increased by 11.2% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF VARIOUS CULTURAL EVENTS (ART EXHIBITS, SHOWS, FESTIVALS) TO BENEFIT COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF CULTURAL EVENTS FOR THE COMMUNITY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Hall Board Member | Trustee | 2 | $0 |
Matt Ledbetter President | OfficerTrustee | 2 | $0 |
Gloria Bonner Board Member | Trustee | 1 | $0 |
Jill Thomas Secretary | OfficerTrustee | 1 | $0 |
Eric Parks Vice Chairman | OfficerTrustee | 1 | $0 |
Don O'henry Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $32,968 |
| Related organizations | $0 |
| Government grants | $203,176 |
| All other contributions, gifts, grants, and similar amounts not included above | $89,133 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $325,277 |
| Total Program Service Revenue | $386,505 |
| Investment income | $376 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,925 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,783 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $28,818 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $744,118 |
| 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. | $65,606 |
| Compensation of current officers, directors, key employees. | $4,133 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $178,928 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,964 |
| Payroll taxes | $19,994 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,957 |
| Advertising and promotion | $10,365 |
| Office expenses | $63,439 |
| Information technology | $5,004 |
| Royalties | $47,429 |
| Occupancy | $46,078 |
| Travel | $212 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,133 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,377 |
| Insurance | $12,936 |
| All other expenses | $750 |
| Total functional expenses | $713,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,329 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,244 |
| 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 | $11,658 |
| Net Land, buildings, and equipment | $663,274 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $7,909 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,096,414 |
| Accounts payable and accrued expenses | $31,803 |
| Grants payable | $0 |
| Deferred revenue | $33,453 |
| 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 | $65,256 |
| Net assets without donor restrictions | $810,241 |
| Net assets with donor restrictions | $220,917 |
| 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 | $1,096,414 |