Oklahoma Arts Institute Foundation
- Assets
- $11.6m
- Revenue
- $710.2k
- Investments
- $11.6m
- Employees
- 0
- Location
- Oklahoma City, OK
- Founding
- 08/2014
- Data as of
- 12/2021
- 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 12/2021, Oklahoma Arts Institute Foundation generated $710.2k 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 (10.2%) each year. All expenses for the organization totaled $469.9k during the year ending 12/2021. 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 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 |
|---|---|---|---|
Don G Holladay President | OfficerTrustee | 0.5 | $0 |
Linda Frazier Director | Trustee | 0.5 | $0 |
Jeff Greenlee Treasurer | OfficerTrustee | 0.5 | $0 |
John M Seward Secretary | OfficerTrustee | 0.5 | $0 |
Teresa Adwan Director | Trustee | 0.5 | $0 |
J Edward Barth Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,126 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,126 |
| Total Program Service Revenue | $0 |
| Investment income | $167,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $491,698 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $710,177 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $406,476 |
| 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 | $13,296 |
| 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 | $5,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,299 |
| 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 | $469,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,960 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,625 |
| Accounts receivable, net | $11,142 |
| 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 | $11,556,973 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,614,700 |
| Accounts payable and accrued expenses | $21,160 |
| 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 | $21,160 |
| Net assets without donor restrictions | $600,543 |
| Net assets with donor restrictions | $10,992,997 |
| 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 | $11,614,700 |
Grants Awarded
Over the last fiscal year, Oklahoma Arts Institute Foundation has awarded $1,140,507 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
QUARTZ MOUNTAIN ARTS AND CONFERENCE | | | $766,083 |
Oklahoma City, OK | | $374,424 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Oklahoma Arts Institute Foundation has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
Anne And Henry Zarrow Foundation Tulsa, OK PURPOSE: TO ESTABLISH A NEW ENDOWED SCHOLARSHIP FUND | $15,000 |
Lester Family Foundation Oklahoma City, OK PURPOSE: CONTINUING OPERATIONS | $2,000 |
Endowment Analysis
| Beg. Balance | $10,005,397 |
| Earnings | $1,461,010 |
| Admin Expense | $40,327 |
| Net Contributions | $21,485 |
| Grants | $406,476 |
| Ending Balance | $11,041,090 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Art Bridges Inc Fort Worth, TX | $0 | $357,485,765 |
Big Thought Dallas, TX | $5,164,665 | $9,225,791 |
Southwest School Of Art San Antonio, TX | $10,498,026 | -$15,382,277 |
Anderson Ranch Arts Foundation Snowmass Village, CO | $19,349,000 | $7,444,141 |
Fab Lab Tulsa Inc Tulsa, OK | $905,994 | $2,260,190 |
Art Students League Of Denver Denver, CO | $2,150,049 | $2,289,374 |
Tara Institute Of The Performing Arts Incorporated Boulder, CO | $2,762,734 | $2,020,459 |
Santa Fe School For The Arts Santa Fe, NM | $4,340,717 | $1,902,890 |
Oklahoma Arts Institute Oklahoma City, OK | $2,532,394 | $1,383,952 |
Ah Haa School For The Arts Telluride, CO | $12,435,871 | $2,343,816 |
Multicultural Education And Counseling Through The Arts Houston, TX | $4,644,101 | $2,037,486 |
Art League Of Houston Houston, TX | $910,841 | $1,126,374 |