Watercolor Society Of Indiana Inc
- Assets
- $698.9k
- Revenue
- $25.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Indianapolis, IN
- Founding
- 04/1990
- Data as of
- 12/2021
- EIN
- 35-1598145
Organization Overview
Watercolor Society Of Indiana Inc is located in Indianapolis, IN. The organization was established in 1990. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Watercolor Society Of Indiana 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 12/2021, Watercolor Society Of Indiana Inc generated $25.5k 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 (11.3%) each year. All expenses for the organization totaled $49.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE WATERCOLOR SOCIETY OF INDIANA SEEKS TO EDUCATE INDIANA RESIDENTS ABOUT THE DISCIPLINE OF THE WATERCOLOR MEDIUM THROUGH EXHIBITS, JURIED COMPETITIONS, CLASSES, DISCUSSIONS, DEMONSTRATIONS, OUTREACH PROGRAMS, AND COMMUNITY SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2021 PROGRAM SERVICE ACCOMPLISHMENTS TOP 3:JAMES C. LENTZ SCHOLARSHIP TO A HIGH SCHOOL STUDENT FOR COLLEGE. APPROXIMATELY 40 HOURS BY WSI MEMBER VOLUNTEERS TO EVALUATE 25 APPLICATIONS.JURIED EXHIBIT AT NEWFIELDS/IMA REPRESENTING 45 MEMBER ARTISTS WITH CASH PRIZES FOR THE TOP 11 MEMBER ARTISTS.VIRTUAL MEETINGS, QUARTERLY NEWSLETTERS, MAILINGS AND WEB SITE TO EDUCATE, CONNECT, AND SERVE 235 WSI MEMBERS ACROSS THE STATE OF INDIANA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tanya Roberts Executive Dir. | Officer | 40 | $24,640 |
Kathleen Mcallen Treasurer | OfficerTrustee | 2 | $5,468 |
Linda Trowbridge Chairman | OfficerTrustee | 2 | $0 |
Jo Belmont Secretary | OfficerTrustee | 2 | $0 |
Ron Leonhardt Director | Trustee | 1 | $0 |
Beverly Mathis Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $10,045 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,565 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $22,610 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,788 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $30,108 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $375 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,474 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $245 |
| Office expenses | $4,795 |
| Information technology | $1,284 |
| Royalties | $0 |
| Occupancy | $3,000 |
| 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 | $0 |
| Insurance | $1,291 |
| All other expenses | $0 |
| Total functional expenses | $49,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,758 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | -$249 |
| 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 | $0 |
| Investments—publicly traded securities | $676,386 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $698,895 |
| Accounts payable and accrued expenses | $653 |
| 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 | $653 |
| Net assets without donor restrictions | $698,242 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $698,895 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Watercolor Society Of Indiana Inc has recieved totaling $300.
| Awarding Organization | Amount |
|---|---|
Humke Foundation Inc Zionsville, IN PURPOSE: CHARITABLE | $300 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fenestration And Glazing Industry Alliance Schaumburg, IL | $6,384,205 | $4,966,632 |
Fibre Box Association Itasca, IL | $1,560,987 | $3,611,412 |
Hyde Park Art Center Chicago, IL | $13,112,741 | $7,741,893 |
Master Craftsmen Foundation Kansas City, MO | $0 | $269 |
Arts Club Of Chicago Chicago, IL | $22,777,301 | $152,339 |
Graham Foundation For Advanced Studies In The Fine Arts Chicago, IL | $0 | $687,158 |
Laumeier Sculpture Park St Louis, MO | $5,586,221 | $2,296,143 |
Craft Alliance St Louis, MO | $3,775,459 | $2,483,894 |
Lillian Florsheim Foundation for Fine Arts Chicago, IL | $0 | $525,901 |
Intuit The Center For Intuitive And Outside Art Chicago, IL | $2,150,549 | $1,698,097 |
Painting & Decorating Contractors Of America Maryland Heights, MO | $1,053,782 | $1,259,349 |
Kmac Museum Inc Louisville, KY | $6,171,593 | $857,618 |