Chatham Creative Arts Incubator Inc
- Assets
- $249.0k
- Revenue
- $61.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Siler City, NC
- Founding
- 09/2002
- Data as of
- 12/2021
- EIN
- 47-0862625
Organization Overview
Chatham Creative Arts Incubator Inc is located in Siler City, NC. The organization was established in 2002. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chatham Creative Arts Incubator 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 12/2021, Chatham Creative Arts Incubator Inc generated $61.9k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $62.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ART SUPPORT SERVICES & EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES LOW COST STUDIO & WORKSHOP SPACE TO NEW & EXISTING ARTISTS AND ART BUSINESSES; PROVIDES LOW-COST MARKET OUTLET TO ARTIST; PROVIDES MEETING SPACE TO LOCAL ORGANIZATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Denis DE St Aubin Jr Director | Trustee | 1 | $0 |
Wren Farrar Secretary | Trustee | 3 | $0 |
Krystal Foxx Director | Trustee | 1 | $0 |
Michelle Rodriguez Director | Trustee | 1 | $0 |
Lisa Fedele Chair Person | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $5,365 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,754 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $29,119 |
| Total Program Service Revenue | $30,556 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,196 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,871 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $515 |
| Office expenses | $316 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $885 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,329 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,532 |
| Insurance | $2,999 |
| All other expenses | $2,230 |
| Total functional expenses | $62,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $60,234 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,980 |
| 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 | $186,771 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $248,985 |
| Accounts payable and accrued expenses | $0 |
| 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 | $86,487 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $86,487 |
| Net assets without donor restrictions | $161,063 |
| Net assets with donor restrictions | $1,435 |
| 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 | $248,985 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Chatham Creative Arts Incubator Inc has recieved totaling $37,500.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $20,500 |
Chatham County Arts Council Incorporated Pittsboro, NC PURPOSE: TO SUPPORT ARTISTS IN NC | $8,500 |
Chatham County Arts Council Incorporated Pittsboro, NC PURPOSE: TO SUPPORT ARTISTS IN NC | $8,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Nash-Edgecombe Economic Development Inc Rocky Mount, NC | $2,214,551 | $9,450,498 |
Alexandria Economic Development Partnership Inc Alexandria, VA | $1,919,174 | $9,268,061 |
Richmond Metropolitan Convention & Vistors Bureau Richmond, VA | $6,099,091 | $8,138,093 |
Knoxville Convention & Visitors Bureau Inc Knoxville, TN | $5,768,468 | $5,619,069 |
South Carolina I-77 Alliance Richburg, SC | $4,361,702 | $6,505,378 |
Access To Capital For Entrepreneurs Inc Cleveland, GA | $88,796,114 | $11,013,240 |
Columbia Metropolitan Convention And Visitors Bureau Columbia, SC | $6,376,262 | $4,843,981 |
Srs Community Reuse Organization Aiken, SC | $6,557,053 | $4,875,445 |
Grove Park Foundation Inc Atlanta, GA | $25,190,874 | $3,791,912 |
Alexandria Convention And Visitors Association Inc Alexandria, VA | $744,565 | $3,884,098 |
Vibrant Memphis Inc Memphis, TN | $19,880,886 | $2,783,167 |
Hampton Roads Economic Development Alliance Norfolk, VA | $4,122,075 | $4,031,039 |