Minnetonka Center For The Arts
- Assets
- $4.6m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 80
- Location
- Wayzata, MN
- Founding
- 06/1954
- Data as of
- 06/2024
- EIN
- 41-0804989
Organization Overview
Minnetonka Center For The Arts is located in Wayzata, MN. The organization was established in 1954. 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 06/2024, Minnetonka Center For The Arts employed 80 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnetonka 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 06/2024, Minnetonka Center For The Arts generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.4%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2024. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE VISUAL ART INSTRUCTION, EXHIBITIONS, AND CULTURAL ENRICHMENT TO ALL AGES AND INTERESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDIO CLASSES:IN PURSUIT OF OUR GOAL TO ENHANCE THE QUALITY OF LIFE IN OUR COMMUNITY, WE PROVIDE YEAR-ROUND STUDIO CLASSES FOR ADULTS, YOUTH, AND CHILDREN. WE PROVIDE CLASSES IN PAINTING, DRAWING, SCULPTURE, CERAMICS, PHOTOGRAPHY, FIBER ARTS, GLASS AND MORE. INSTRUCTORS ARE HIGHLY SKILLED, PROFESSIONAL ARTISTS WITH EXPERIENCE AND AN INTEREST IN NURTURING AND GUIDING DEVELOPING ARTISTS. FOR FY24, WE HELD 386 ON-SITE STUDIO CLASSES AND WORKSHOPS AND HAD OVER 2,700 REGISTRATIONS. IN ADDITION, WE HAD OVER 700 REGISTRATIONS FOR OUR SUMMER ARTS CAMP, WHICH PROVIDES A UNIQUE OPPORTUNITY FOR CHILDREN AND YOUTH AGES 5-15 TO EXPERIENCE A PROFESSIONAL ART STUDIO ENVIRONMENT AND LEARN FROM WORKING ARTISTS.
EXHIBITIONS:OUR GALLERY IS OPEN TO THE PUBLIC AND ADMISSION IS FREE. WE FEATURE ARTWORK BY LOCAL, REGIONAL, AND NATIONALLY KNOWN ARTISTS. IN FY24, WE PRESENTED TWO EXHIBITS ON-SITE AND AN ADDITIONAL FOUR EXHIBITS OFFSITE AT THE RIDGEDALE SHOPPING CENTER. A TOTAL OF 3,722 WORKS OF ART AND FINE CRAFT BY 198 ARTISTS WITH A TOTAL RETAIL VALUE OF $379,154 WERE DISPLAYED.
COMMUNITY OUTREACH:IN AN EFFORT TO MAKE OUR PROGRAMS AVAILABLE TO THE WIDEST POSSIBLE AUDIENCE, 343 CHILDREN, YOUTH AND ADULTS FROM TWENTY DIFFERENT COMMUNITY PARTNERS PARTICIPATED IN OUR OUTREACH PROGRAMS DURING THE FISCAL YEAR. MANY PARTICIPATED AT LOW OR NO COST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Schwert Chair | OfficerTrustee | 3 | $0 |
Curt Paulsen Vice Chair | OfficerTrustee | 3 | $0 |
Gary Lasche' Treasurer/secretary | OfficerTrustee | 3 | $0 |
Sarah Gibson Member | Trustee | 2 | $0 |
Laura Bernstein Member | Trustee | 2 | $0 |
Barbara Mcburney Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $42,597 |
| Fundraising events | $19,749 |
| Related organizations | $0 |
| Government grants | $84,908 |
| All other contributions, gifts, grants, and similar amounts not included above | $214,517 |
| Noncash contributions included in lines 1a–1f | $16,715 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $361,771 |
| Total Program Service Revenue | $919,320 |
| Investment income | $14,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $66 |
| Net Income from Fundraising Events | -$2,841 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,303,632 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $551 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $178,043 |
| Compensation of current officers, directors, key employees. | $95,163 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $416,177 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,515 |
| Payroll taxes | $44,710 |
| Fees for services: Management | $54,916 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,055 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,425 |
| Advertising and promotion | $44,140 |
| Office expenses | $129,019 |
| Information technology | $46,190 |
| Royalties | $0 |
| Occupancy | $216,717 |
| 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 | $103,105 |
| Insurance | $55,224 |
| All other expenses | $0 |
| Total functional expenses | $1,443,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $315,959 |
| Savings and temporary cash investments | $19,558 |
| Pledges and grants receivable | $29,469 |
| Accounts receivable, net | $3,918 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,012 |
| Prepaid expenses and deferred charges | $32,683 |
| Net Land, buildings, and equipment | $3,911,336 |
| Investments—publicly traded securities | $272,928 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,590,863 |
| Accounts payable and accrued expenses | $65,731 |
| Grants payable | $0 |
| Deferred revenue | $147,382 |
| 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 | $213,113 |
| Net assets without donor restrictions | $4,068,276 |
| Net assets with donor restrictions | $309,474 |
| 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 | $4,590,863 |