Atlantic City Arts Foundation
- Assets
- $156.5k
- Revenue
- $205.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Atlantic City, NJ
- Founding
- 05/2013
- Data as of
- 12/2021
- EIN
- 45-2409043
Organization Overview
Atlantic City Arts Foundation is located in Atlantic City, NJ. The organization was established in 2013. 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 12/2021, Atlantic City Arts Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlantic City Arts Foundation 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, Atlantic City Arts Foundation generated $205.2k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 25.6% each year . All expenses for the organization totaled $168.4k during the year ending 12/2021. While expenses have increased by 28.5% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER AN ENVIRONMENT IN WHICH DIVERSE ARTS AND CULTURAL PROGRAMS ENRICH THE QUALITY OF LIFE FOR RESIDENTS OF AND VISITORS TO ATLANTIC CITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
48 BLOCKSCITY-WIDE ARTS AND CULTURAL CELEBRATION INCLUDING A MURAL ARTS PROGRAM
ARTERIORSLOCAL ARTISTS TRANSFORM A VACANT PROPERTY IN A NEIGHBORHOOD IN TRANSITION INTO A POP-UP ART INSTALLATION, HIGHLIGHTING THE REBIRTH OF ATLANTIC CITY.
COMMUNITY ARTSMISCELLANEOUS PROGRAMMING DEVELOPED SPECIFIC TO THE COMMUNITY AND ITS NEEDS, INCLUDING ART EDUCATION.
CHALK ABOUT ACCITY-WIDE EVENT TO CREATE CHALK ARTWORK TO ENCOURAGE POSITIVE PERCEPTIONS OF ATLANTIC CITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Hagen Executive Director | Trustee | 1 | $38,352 |
Kaitlyn O'malley Program Manager | Trustee | 1 | $24,808 |
Stephanie Koch Vice President | OfficerTrustee | 0 | $0 |
Jodi Burroughs Treasurer | OfficerTrustee | 0 | $0 |
Lisa Honaker President | OfficerTrustee | 0 | $0 |
Elizabeth Terenik Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $81,843 |
| All other contributions, gifts, grants, and similar amounts not included above | $112,666 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $194,509 |
| Total Program Service Revenue | $9,941 |
| Investment income | $5 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $761 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $205,216 |
| 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. | $63,160 |
| Compensation of current officers, directors, key employees. | $63,160 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,270 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,009 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,153 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,533 |
| Advertising and promotion | $1,332 |
| Office expenses | $2,636 |
| Information technology | $295 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $411 |
| 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 | $2,665 |
| All other expenses | $0 |
| Total functional expenses | $168,422 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,217 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,900 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,356 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $156,473 |
| Accounts payable and accrued expenses | $4,196 |
| 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 | $54,007 |
| Other liabilities | $0 |
| Total liabilities | $58,203 |
| Net assets without donor restrictions | $98,270 |
| 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 | $156,473 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Atlantic City Arts Foundation has recieved totaling $49,000.
| Awarding Organization | Amount |
|---|---|
Princeton Area Community Foundation Inc Lawrenceville, NJ PURPOSE: New Jersey Arts and Culture Recovery Fund Grant Ap | $37,500 |
Community Foundation Of New Jersey Morristown, NJ PURPOSE: GENERAL SUPPORT | $10,000 |
Schultz-Hill Foundation Atlantic City, NJ PURPOSE: GRANT | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattan School Of Music New York, NY | $110,734,113 | $63,876,459 |
Franklin Institute Philadelphia, PA | $191,202,786 | $32,040,912 |
Art Students League Of New York New York, NY | $112,886,191 | $14,274,262 |
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Global Disciples Lancaster, PA | $4,481,434 | $6,431,035 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Grounds For Sculpture Inc Hamilton, NJ | $36,793,406 | $11,597,062 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |
The Arts Connection Inc New York, NY | $2,703,336 | $4,972,330 |