Midland Center For The Arts Inc
- Assets
- $105.5m
- Revenue
- $38.5m
- Investments
- $15.6m
- Employees
- 112
- Location
- Midland, MI
- Founding
- 09/1966
- Data as of
- 08/2022
- EIN
- 38-6114020
Organization Overview
Midland Center For The Arts Inc is located in Midland, MI. The organization was established in 1966. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2022, Midland Center For The Arts Inc employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midland 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 08/2022, Midland Center For The Arts Inc generated $38.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $9.4m during the year ending 08/2022. While expenses have increased by 1.4% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENTERTAIN, EDUCATE AND INSPIRE A DIVERSE AND EXPANDING REGIONAL AUDIENCES IN THE ARTS, SCIENCES AND HUMANITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PRESENT VARIOUS PROGRAMS THAT SUPPORT THE MISSION FO THE CENTER, THAT INCLUDES PROGRAM EXPENSES AND GENERAL OPERATIONS TO SUPPORT THOSE PROGRAMS. EXPENSES INCURRED PROVIDE TECHNICAL SERVICES AND EQUIPMENT TO OPERATE TWO THEATRES, TWO MUSEUMS AND EDUCATION ACTIVITIES, MARKETING AND CENTER MAGAZINE EXPENSES, VISITOR SERVICES, BOX OFFICE AND HOUSE SERVICES, AND SPECIAL EVENTS.
TO PROVIDE FACILITIES, STAFF, AND OTHER RESOURCES TO CARRY OUT THE MISSION OF THE ORGANIZATION THROUGH THE PRESENTATION, SPONSORSHIP, AND SUPPORT OF PERFORMANCES, EXHIBITIONS, AND CULTURAL ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terri Trotter Former CEO | OfficerTrustee | 40 | $274,973 |
Diane Wilcox VP Communica | 40 | $131,265 | |
Jon Loos Interim CEO | OfficerTrustee | 40 | $118,717 |
Dave B Jao VP Performin | 40 | $105,741 | |
Lynn Booms Former CFO | Officer | 40 | $91,002 |
Edgar Martinez Former CFO | Officer | 40 | $53,983 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Csrs Inc Disaster Relief | 8/30/21 | $171,609 |
Servpro Of Saginaw Damage Restore | 8/30/21 | $411,049 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,828,611 |
| All other contributions, gifts, grants, and similar amounts not included above | $26,117,977 |
| Noncash contributions included in lines 1a–1f | $34,962 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,946,588 |
| Total Program Service Revenue | $2,903,302 |
| Investment income | $5,786,352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $882,156 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $38,518,398 |
| 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. | $430,867 |
| Compensation of current officers, directors, key employees. | $430,867 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,421,310 |
| Pension plan accruals and contributions | $77,748 |
| Other employee benefits | $309,890 |
| Payroll taxes | $203,863 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,430 |
| Fees for services: Accounting | $31,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $513,334 |
| Fees for services: Other | $694,011 |
| Advertising and promotion | $395,166 |
| Office expenses | $266,073 |
| Information technology | $220,783 |
| Royalties | $0 |
| Occupancy | $415,423 |
| Travel | $4,074 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,198 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $895,779 |
| Insurance | $98,421 |
| All other expenses | $212,223 |
| Total functional expenses | $9,352,629 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,794,286 |
| Savings and temporary cash investments | $8,993,331 |
| Pledges and grants receivable | $17,760,879 |
| Accounts receivable, net | $1,299,914 |
| 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 | $324,712 |
| Net Land, buildings, and equipment | $10,060,022 |
| Investments—publicly traded securities | $49,725,357 |
| Investments—other securities | $15,561,523 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $105,520,024 |
| Accounts payable and accrued expenses | $430,853 |
| Grants payable | $0 |
| Deferred revenue | $1,022,466 |
| 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 | $636,486 |
| Total liabilities | $2,089,805 |
| Net assets without donor restrictions | $59,024,708 |
| Net assets with donor restrictions | $44,405,511 |
| 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 | $105,520,024 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Midland Center For The Arts Inc has recieved totaling $667,882.
| Awarding Organization | Amount |
|---|---|
Midland Area Community Foundation Midland, MI PURPOSE: ARTS | $253,023 |
Dow Company Foundation Bay City, MI PURPOSE: COMMUNITY WELLBEING | $250,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $54,100 |
Maxwell K Pribil Irrv Memorial Tr Columbus, OH PURPOSE: GENERAL OPERATING | $50,000 |
Bill And Linda Stavropoulos Family Foundation Naples, FL PURPOSE: ART CENTER | $25,000 |
Middle Michigan Development Corporation Mt Pleasant, MI PURPOSE: COVID-19 RELIEF | $20,000 |
Endowment Analysis
| Beg. Balance | $69,993,015 |
| Earnings | -$4,046,427 |
| Net Contributions | $110,000 |
| Other Expense | $520,731 |
| Ending Balance | $65,535,857 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Flint Cultural Center Corporation Inc Flint, MI | $82,664,438 | $21,920,278 |
Midland Center For The Arts Inc Midland, MI | $105,520,024 | $38,518,398 |
John Michael Kohler Arts Center Inc Sheboygan, WI | $91,886,755 | $7,533,321 |
Bertha D Garten Ketcham Memorial Center Inc Odon, IN | $9,035,091 | $6,675,118 |
Kohler Trust For The Arts And Education Kohler, WI | $9,068,772 | $5,585,156 |
The Center For The Performing Arts Inc Carmel, IN | $11,269,434 | $4,631,898 |
Milwaukee County War Memorial Inc Milwaukee, WI | $14,315,972 | $2,406,675 |
Beck Center For The Arts Lakewood, OH | $7,579,389 | $3,024,551 |
The Ark Ann Arbor, MI | $4,959,177 | $2,583,819 |
The Works Ohio Center Of History Art & Technology Newark, OH | $33,943,893 | $2,939,769 |
Phipps Center For The Arts Inc Hudson, WI | $10,511,884 | $2,040,286 |
Ashwabay Alliance Inc Washburn, WI | $4,876,246 | $2,182,300 |