Verge Center For The Arts
- Assets
- $1.9m
- Revenue
- $892.8k
- Investments
- $21.5k
- Employees
- 24
- Location
- Sacramento, CA
- Founding
- 03/2012
- Data as of
- 12/2023
- EIN
- 27-2378275
Organization Overview
Verge Center For The Arts is located in Sacramento, CA. The organization was established in 2012. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Verge Center For The Arts employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verge Center For The Arts 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 12/2023, Verge Center For The Arts generated $892.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $797.9k during the year ending 12/2023. While expenses have increased by 4.1% per year over the past 7 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EXPOSE THE SACRAMENTO REGION TO INTERNATIONALLY RECOGNIZED CONTEMPORARY ART, WHILE PROVIDING RESOURCES TO LOCAL CAREER AND EMERGING ARTISTS.
Describe the Organization's Program Activity:
VERGE PROVIDES SUBSIDIZED STUDIOS TO 53 ARTISTS THROUGH OUR RESIDENT ART STUDIO PROGRAM. IN ADDITION TO LOW COST WORK SPACE, ARTISTS ARE AFFORDED ALL THE BENEFITS OF A VERGE MEMBERSHIP, A MONTHLY ARTIST SALON FACILITATED BY VERGE STAFF, ACCESS TO SPECIALIZED ART EQUIPMENT INCLUDING OUR PRINTMAKING FACILITY, AND DISCOUNTS ON VERGE PROGRAMS.
VERGE OFFERS AN ENGAGING ARTS EDUCATION PROGRAM FOR ADULTS, TEENS, AND CHILDREN THAT SEEKS TO INFORM AND INSPIRE ART APPRECIATION AND UNDERSTANDING WITHIN THE SACRAMENTO COMMUNITY. VERGE ALSO COLLABORATES WITH A DIVERSE NUMBER OF ORGANIZATIONS AND ARTS EDUCATION PROFESSIONALS IN AN EFFORT TO ENHANCE AND EXPAND ITS COMMUNITY IMPACT.
THE DEVELOPMENT DEPARTMENT'S PRIMARY FOCUS IS ON VERGE'S NON-PROGRAMMATIC (I.E. EDUCATION AND/OR PUBLIC PROGRAMS LIKE "MOVIES ON THE VERGE") FUNDRAISING EFFORTS INCLUDING GRANTS, TICKETED FUNDRAISERS LIKE TV DINNER OR THE VERGE ART AUCTION, UNRESTRICTED GIVING DAYS LIKE THE REGIONAL BIG DAY OF GIVING OR GIVING TUESDAY, VERGE MEMBERSHIPS, SOLICITING GENERAL DONATIONS AS WELL AS IN-KIND DONATIONS OF GOODS AND SERVICES, IN ADDITION TO COORDINATING WITH VERGE'S DIRECTOR TO TRACK ONGOING PLEDGES AND RECURRING GIFTS.
SAC OPEN STUDIOS IS A CITY WIDE STUDIO TOUR FEATURING OVER 273 PARTICIPATING ARTISTS. VERGE PUBLISHES A STUDIO GUIDE THAT INCLUDES A DIRECTORY AND MAPS FOR ALL PARTICIPATING ARTISTS, AN EXHIBITION OF PARTICIPATING ARTISTS WORK, AS WELL AS WORKSHOPS ON HOW TO DOCUMENT YOUR WORK AND PROMOTE YOUR PRACTICE FOR TOUR EVENTS. THIS IS THE LARGEST CITY-WIDE ART EVENT IN SACRAMENTO WITH APPROXIMATELY 25,000 TOUR GOERS ATTENDING EACH YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gwenna Howard President | OfficerTrustee | 1 | $0 |
Phil Cunningham Co-Treasurer | OfficerTrustee | 1 | $0 |
Kelly Lindner Secretary | OfficerTrustee | 1 | $0 |
Gerardo Cabral Director | Trustee | 1 | $0 |
Phil Isenberg Director | Trustee | 1 | $0 |
Darrene Hackler Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,290 |
| Fundraising events | $123,793 |
| Related organizations | $0 |
| Government grants | $86,064 |
| All other contributions, gifts, grants, and similar amounts not included above | $267,336 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $503,483 |
| Total Program Service Revenue | $317,239 |
| Investment income | $596 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,820 |
| Net Income from Fundraising Events | $24,764 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,528 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $892,750 |
| 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. | $76,546 |
| Compensation of current officers, directors, key employees. | $2,195 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,452 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,500 |
| Payroll taxes | $39,126 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,885 |
| Fees for services: Accounting | $17,841 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,959 |
| Office expenses | $15,569 |
| Information technology | $20,097 |
| Royalties | $0 |
| Occupancy | $77,723 |
| Travel | $1,541 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $71,493 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,086 |
| Insurance | $13,760 |
| All other expenses | $0 |
| Total functional expenses | $797,915 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,824 |
| Savings and temporary cash investments | $123,630 |
| Pledges and grants receivable | $116,139 |
| Accounts receivable, net | $65 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,540,412 |
| Investments—publicly traded securities | $2,939 |
| Investments—other securities | $21,462 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $28,893 |
| Total assets | $1,895,364 |
| Accounts payable and accrued expenses | $41,639 |
| Grants payable | $0 |
| Deferred revenue | $9,543 |
| 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 | $1,535,872 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,659 |
| Total liabilities | $1,609,713 |
| Net assets without donor restrictions | $194,371 |
| Net assets with donor restrictions | $91,280 |
| 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 | $1,895,364 |