New Mexico School For The Arts Art Institute
- Assets
- $29.1m
- Revenue
- $2.9m
- Investments
- $1.3m
- Employees
- 54
- Location
- Santa Fe, NM
- Founding
- 01/2010
- Data as of
- 06/2022
- EIN
- 26-4764395
Organization Overview
New Mexico School For The Arts Art Institute is located in Santa Fe, NM. The organization was established in 2010. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, New Mexico School For The Arts Art Institute employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New Mexico School For The Arts Art Institute 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, New Mexico School For The Arts Art Institute generated $2.9m 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 (16.5%) each year. All expenses for the organization totaled $2.8m during the year ending 06/2022. 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
NEW MEXICO SCHOOL FOR THE ARTS-ART INSTITUTE, ASSISTS PASSIONATE YOUNG ARTISTS IN DEVELOPING THEIR FULL POTENTIAL THROUGH A RIGOROUS MASTER OF ARTS AND ACADEMIC EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTS EDUCATIONAL INSTITUTION PROGRAM WAS ESTABLISHED TO PROVIDE INTENSIVE PRE-PROFESSIONAL ART EDUCATION OF STUDENTS DEMONSTRATING PROMISE, APTITUDE AND PASSION FOR THE ARTS. PROVIDING PROFESSIONAL AND PRE-PROFESSIONAL INSTRUCTIONS THROUGH PROGRAMS OFFERED THROUGHOUT NEW MEXICO. A SUMMER INTENSIVE PROGRAM IS ALSO OFFERED. TOTAL STUDENTS SERVED IS APPROXIMATELY 279.
ART EDUCATION STUDENTS MAY OBTAIN HOUSING THROUGH THE SCHOOL IN ORDER TO PARTICIPATE IN THE PROGRAM DURING THE SCHOOL YEAR. APPROXIMATELY 20 STUDENTS PARTICIPATED IN THE RESIDENTIAL PROGRAM IN ORDER TO ATTEND THE YEAR ROUND SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cindy Montoya Executive Director | OfficerTrustee | 40 | $0 |
Carl Thoma Board Chair | OfficerTrustee | 1 | $0 |
Pamela Saunders-Albin Vice Chair | OfficerTrustee | 1 | $0 |
Cynthia Nava Secretary | OfficerTrustee | 1 | $0 |
William Miller Treasurer | OfficerTrustee | 5 | $0 |
Catherine Oppenheimer Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Studio Sw Architects Inc Architectural | 6/29/17 | $919,347 |
Klinger Construction Engineering | 6/29/17 | $413,946 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $347,343 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,803,788 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,151,131 |
| Total Program Service Revenue | $199,265 |
| Investment income | $479 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $298,186 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $278,709 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,927,770 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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 | $1,176,136 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $82,502 |
| Payroll taxes | $94,353 |
| Fees for services: Management | $3,010 |
| Fees for services: Legal | $5,757 |
| Fees for services: Accounting | $36,678 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $309,869 |
| Advertising and promotion | $9,106 |
| Office expenses | $79,398 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $139,901 |
| Travel | $46,409 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $83,003 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $536,686 |
| Insurance | $38,710 |
| All other expenses | $134,489 |
| Total functional expenses | $2,826,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,444,138 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $635,943 |
| Accounts receivable, net | -$4,374 |
| 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 | $22,674 |
| Net Land, buildings, and equipment | $4,826,120 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,312,495 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,823,582 |
| Total assets | $29,060,578 |
| Accounts payable and accrued expenses | $1,923 |
| 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 | $1,752,716 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $199,941 |
| Total liabilities | $1,954,580 |
| Net assets without donor restrictions | $25,462,267 |
| Net assets with donor restrictions | $1,643,731 |
| 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 | $29,060,578 |