The Avalon Foundation Inc
- Assets
- $6.7m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 14
- Location
- Easton, MD
- Founding
- 05/1996
- Data as of
- 06/2024
- EIN
- 52-1850874
Organization Overview
The Avalon Foundation Inc, operating under the name Avalon Foundation Inc, is located in Easton, MD. The organization was established in 1996. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Avalon Foundation Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avalon Foundation 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 06/2024, Avalon Foundation Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $3.0m during the year ending 06/2024. While expenses have increased by 5.6% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION INSPIRES, ENRICHES, AND CONNECTS DIVERSE AUDIENCES THROUGH ARTS, EDUCATIONAL, AND CULTURAL EXPERIENCES INSIDE THE HISTORIC AVALON THEATRE AND THROUGHOUT MARYLAND'S EASTERN SHORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PRODUCES AND PROMOTES OUTDOOR ART EVENTS, SUCH AS THE OUTDOOR SUMMER CONCERT SERIES, THE EASTON FARMERS' MARKET, THE TALBOT COUNTY MULTICULTURAL FESTIVAL, AND PLEIN AIR EASTON, THE NATION'S LARGEST OUTDOOR PAINTING COMPETITION. THE FOUNDATION RECEIVES MAJOR SUPPORT FROM THE TOWN OF EASTON, AS WELL AS MANY LOCAL BUSINESSES AND INDIVIDUALS.
MCTV PROVIDES LOCAL TELEVISION PROGRAMMING OPPORTUNITIES TO INDIVIDUALS AND INSTITUTIONS IN TALBOT COUNTY.
THE FOUNDATION INSPIRES, ENRICHES, AND CONNECTS DIVERSE AUDIENCES THROUGH ARTS, EDUCATIONAL, AND CULTURAL EXPERIENCES INSIDE THE HISTORIC AVALON THEATRE AND THROUGHOUT MARYLAND'S EASTERN SHORE.
THE FOUNDATION STRIVES TO SERVE AND EDUCATE THE YOUTH IN ITS COMMUNITY, THROUGH CHILDREN'S PROGRAMMING. THIS PROGRAMMING INCLUDES EVENTS PUT ON THROUGH THE AVALON CHILDREN'S THEATRE, AS WELL AS SUMMER DAY CAMPS FOR CHILDREN. THE FOUNDATION HAS ESTABLISHED AN ENDOWMENT, USING COMMUNITY DONATIONS, OF WHICH THE INVESTMENT RETURNS WILL BE EXCLUSIVELY USED FOR CHILDREN'S PROGRAMMING IN PERPETUITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Witowsky Chair | OfficerTrustee | 1.5 | $0 |
Jon Ryan Vice-Chair | OfficerTrustee | 1.5 | $0 |
Carol Sleeper Secretary | OfficerTrustee | 1.5 | $0 |
Abigail Rosenfeld Treasurer | OfficerTrustee | 1.5 | $0 |
Katie Cox Trustee | Trustee | 1.5 | $0 |
Patrick Fitzgerald Trustee | Trustee | 1.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $325,852 |
| All other contributions, gifts, grants, and similar amounts not included above | $789,139 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,114,991 |
| Total Program Service Revenue | $1,595,185 |
| Investment income | $155,517 |
| 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 | $3,136,702 |
| 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. | $150,000 |
| Compensation of current officers, directors, key employees. | $30,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $677,623 |
| Pension plan accruals and contributions | $21,709 |
| Other employee benefits | $88,081 |
| Payroll taxes | $63,094 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $50,566 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $930 |
| Fees for services: Other | $101,183 |
| Advertising and promotion | $76,633 |
| Office expenses | $123,192 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $73,498 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $14,165 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $323,074 |
| Insurance | $22,816 |
| All other expenses | $0 |
| Total functional expenses | $2,962,538 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $463,520 |
| Savings and temporary cash investments | $689,011 |
| Pledges and grants receivable | $100,000 |
| Accounts receivable, net | $3,341 |
| 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 | $84,247 |
| Net Land, buildings, and equipment | $3,035,770 |
| Investments—publicly traded securities | $2,316,055 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $40,629 |
| Other assets | $0 |
| Total assets | $6,732,573 |
| Accounts payable and accrued expenses | $117,056 |
| Grants payable | $0 |
| Deferred revenue | $184,552 |
| 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 | $633,685 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,059 |
| Total liabilities | $941,352 |
| Net assets without donor restrictions | $4,772,512 |
| Net assets with donor restrictions | $1,018,709 |
| 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 | $6,732,573 |