Drcfa Art Foundation
- Assets
- $1.5m
- Revenue
- $385.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 07/2015
- Data as of
- 09/2022
- EIN
- 47-2381536
Organization Overview
Drcfa Art Foundation is located in Detroit, MI. The organization was established in 2015. 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. Drcfa Art 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 09/2022, Drcfa Art Foundation generated $385.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.1% each year . All expenses for the organization totaled $68.7k during the year ending 09/2022. While expenses have increased by 17.3% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION IS TO CARE FOR AND ENHANCE THE ART COLLECTION AT HUNTINGTON PLACE IN DETROIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART ACQUISITIONS, CURATION, AND MAINTENANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Abood Vice Chairperson | OfficerTrustee | 1 | $0 |
Lisa Canada Chairperson | OfficerTrustee | 1 | $0 |
Larry Alexander Ended 2022 Vice Chairperson | OfficerTrustee | 1 | $0 |
Alexis Wiley Treasurer | OfficerTrustee | 1 | $0 |
Patrick Bero Ceo/cfo | Officer | 2 | $0 |
Claude Molinari Appointee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,699 |
| All other contributions, gifts, grants, and similar amounts not included above | $275,053 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,752 |
| Total Program Service Revenue | $0 |
| Investment income | $67 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $385,819 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $23,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $876 |
| 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 | $68,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,158 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $39,226 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,479,247 |
| Total assets | $1,525,631 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,232 |
| Total liabilities | $36,232 |
| Net assets without donor restrictions | $1,489,399 |
| 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 | $1,525,631 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Drcfa Art Foundation has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Flint Institute Of Arts Flint, MI | $64,606,144 | $9,980,420 |
Blue Lake Fine Arts Camp Twin Lake, MI | $13,832,939 | $7,779,561 |
Indianapolis Art Center Inc Indianapolis, IN | $17,635,206 | $3,948,601 |
Graham Gund Gallery Gambier, OH | $8,250,705 | $4,357,194 |
Oxbow Saugatuck, MI | $6,747,769 | $2,600,895 |
Art Opportunities Inc Cincinnati, OH | $2,054,110 | $2,614,332 |
Indiana State School Music Association Inc Indianapolis, IN | $1,923,240 | $2,914,497 |
Wisconsin Foundaton For Educational Administration Inc Madison, WI | $1,928,269 | $1,830,497 |
Sandusky Artisans Cooperative Sandusky, OH | $1,372,352 | $1,709,414 |
Peggy R Mcconnell Worthington Center For The Arts Worthington, OH | $1,784,443 | $1,123,568 |
Anthroposophical Society In America Ann Arbor, MI | $2,697,785 | $1,103,549 |
Thomas R Schiff Foundation Cincinnati, OH | $2,111,481 | $2,381,769 |