Oklahoma Arts Institute Foundation
- Assets
- $9.5m
- Revenue
- $411.9k
- Investments
- $9.4m
- Employees
- 0
- Location
- Oklahoma City, OK
- Founding
- 08/2014
- Data as of
- 12/2022
- EIN
- 46-1503394
Organization Overview
Oklahoma Arts Institute Foundation is located in Oklahoma City, OK. The organization was established in 2014. According to its NTEE Classification (A25) the organization is classified as: Arts Education, 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. Oklahoma Arts Institute 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 12/2022, Oklahoma Arts Institute Foundation generated $411.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (15.0%) each year. All expenses for the organization totaled $476.5k during the year ending 12/2022. 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 SUPPORT, PROMOTE, AND IMPROVE THE PROGRAMS AND SERVICES OF THE OKLAHOMA ARTS INSTITUTE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OVERSIGHT OF THE INVESTMENT AND MANAGEMENT OF ENDOWMENT FUNDS TO SUPPORT THE PROGRAMMING OF THE OKLAHOMA ARTS INSTITUTE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John M Seward President | OfficerTrustee | 0.5 | $0 |
Leigh Ann Moss Vice Preside | OfficerTrustee | 0.5 | $0 |
Polly Fleet Secretary | OfficerTrustee | 0.5 | $0 |
Jeff Greenlee Treasurer | OfficerTrustee | 0.5 | $0 |
Teresa Adwan Director | Trustee | 0.5 | $0 |
Adrienne L Barnet Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $16,250 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $96,511 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,761 |
| Total Program Service Revenue | $0 |
| Investment income | $187,109 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $112,006 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $411,876 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $390,308 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,758 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,391 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $476,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,435 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,000 |
| Accounts receivable, net | $30,397 |
| 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 | $0 |
| Investments—other securities | $9,378,456 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,450,288 |
| Accounts payable and accrued expenses | $43,760 |
| 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 | $43,760 |
| Net assets without donor restrictions | $490,704 |
| Net assets with donor restrictions | $8,915,824 |
| 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 | $9,450,288 |
Grants Awarded
Over the last fiscal year, Oklahoma Arts Institute Foundation has awarded $1,140,507 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OKLAHOMA ARTS INSTITUTE INC | | | $374,424 |
QUARTZ MOUNTAIN ARTS AND CONFERENCE | | | $766,083 |