Cultureworks Inc
- Assets
- $523.0k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Richmond, VA
- Founding
- 11/1965
- Data as of
- 06/2023
- EIN
- 54-6059009
Organization Overview
Cultureworks Inc is located in Richmond, VA. The organization was established in 1965. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Cultureworks Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cultureworks 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 06/2023, Cultureworks Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.1m during the year ending 06/2023. While expenses have increased by 0.7% 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.
Since 2015, Cultureworks Inc has awarded 202 individual grants totaling $3,998,382. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
CULTUREWORKS IS COMMITTED TO ITS MISSION: STRENGTHENING ARTISTS AND ARTS AND CULTURE ORGANIZATIONS TO INCREASE THEIR IMPACT IN OUR REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CULTUREWORKS GRANTS PROGRAM WAS DEVELOPED WITH THE INTENT TO SUPPORT SMALLER 501(C)(3) NONPROFIT ORGANIZATIONS, WITH LIMITED RESOURCES AND OPERATING BUDGETS LESS THAN $750,000, AS WELL AS FUNDING FOR INDIVIDUAL PRACTICING ARTISTS. WITH FEW SOURCES OF SUPPORT AVAILABLE IN THE RICHMOND REGION FOCUSED ENTIRELY ON HELPING SMALL TO MID-SIZE ARTS AND CULTURE ORGANIZATIONS, THE GRANTS PROGRAM IS ABLE TO FULFILL THIS NEED AND FUND QUALITY PROGRAMS, EVENTS AND INITIATIVES FOR OUR COMMUNITY. GRANT FUNDING IS AVAILABLE TO NONPROFIT ARTS AND CULTURAL ORGANIZATIONS AND INDIVIDUAL ARTISTS IN THE RICHMOND REGION AND FOCUSES ON TWO FUNDING PRIORITIES - CULTURAL EQUITY AND BUILDING CAPABILITIES.
OTHER PROGRAM SERVICES INCLUDE MONTHLY VIRTUAL COFFEE EDUCATIONAL HOURS, QUARTERLY NETWORKING EVENTS, TRI-CITIES ARTS & CULTURE ACTION PLAN, AEP6 ECONOMIC IMPACT STUDY, AND OTHER COLLABORATIVE, EDUCATIONAL OR ADVOCACY PROGRAMS SUPPORTING ARTS AND CULTURE NONPROFIT ORGANIZATIONS AND ARTISTS.
THE CITY OF RICHMOND AND THE COUNTIES OF HANOVER, HENRICO AND CHESTERFIELD PROVIDE FINANCIAL SUPPORT ANNUALLY. THESE FUNDS WERE ALLOCATED FOR GENERAL OPERATING SUPPORT TO THE FULL MEMBER ORGANIZATIONS OF THE ARTS AND CULTURE FUNDING CONSORTIUM. THIS CONSORTIUM IS THE ONLY DESIGNATED ENTITY ABLE TO ADMINISTER THE COMBINED PUBLIC FUNDING OF THE COMMUNITY ARTS AND CULTURAL ORGANIZATIONS.
ARTOBERVA IS A MONTH-LONG CELEBRATION OF ARTS AND CULTURE ACROSS THE RICHMOND AND TRI-CITIES REGION. IT PROVIDES A COMMON MARKETING PLATFORM THAT ENABLES THE PROMOTION OF HUNDREDS, EVEN THOUSANDS, OF ARTS AND CULTURE EVENTS PRESENTED BY THE FULL SPECTRUM OF NON-PROFIT ARTS AND CULTURE ORGANIZATIONS AND ARTISTS IN OUR REGION. THE GOAL OF THE EVENT IS TO ENGAGE THE PUBLIC IN THESE ARTS AND CULTURE EVENTS DURING ARTOBERVA, AND THROUGHOUT THE YEAR WHICH LEADS TO GREATER ECONOMIC, EDUCATIONAL AND SOCIAL IMPACTS IN OUR REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Brennen Keene Chair | OfficerTrustee | 2 | $0 |
Sherman V Burroughs IV Treasurer | OfficerTrustee | 2 | $0 |
R Blake O'brien Secretary | OfficerTrustee | 2 | $0 |
Kenya Blake Immediate Past Board Chair | OfficerTrustee | 2 | $0 |
Frazier Armstrong Director | Trustee | 2 | $0 |
Jon Baliles Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $502,821 |
| All other contributions, gifts, grants, and similar amounts not included above | $565,150 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,067,971 |
| Total Program Service Revenue | $24,000 |
| Investment income | $1,788 |
| 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 | $1,093,759 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $448,460 |
| Grants and other assistance to domestic individuals. | $57,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $168,858 |
| Compensation of current officers, directors, key employees. | $16,886 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $214,395 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,530 |
| Payroll taxes | $28,834 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $534 |
| Fees for services: Accounting | $16,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,579 |
| Advertising and promotion | $0 |
| Office expenses | $9,405 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $30,031 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,540 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,126 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,088,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $400,064 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $84,921 |
| 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 | $8,550 |
| Net Land, buildings, and equipment | $27,136 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,285 |
| Total assets | $522,956 |
| Accounts payable and accrued expenses | $8,721 |
| Grants payable | $4,676 |
| 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 | $2,199 |
| Total liabilities | $15,596 |
| Net assets without donor restrictions | $413,472 |
| Net assets with donor restrictions | $93,888 |
| 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 | $522,956 |
Grants Awarded
Over the last fiscal year, Cultureworks Inc has awarded $379,522 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
ELEGBA FOLKLORE SOCIETY INC PURPOSE: Support Excellence in the Arts in the Richmond Region and Cultural Equity | $46,435 |
EDGAR ALLAN POE MUSEUM PURPOSE: Support Excellence in the Arts in the Richmond Region | $8,860 |
RICHMOND BALLET PURPOSE: Support Excellence in the Arts in the Richmond Region | $32,487 |
BLACK HISTORY MUSEUM PURPOSE: Support Excellence in the Arts in the Richmond Region | $31,831 |
CHILDREN'S MUSEUM OF RICHMOND PURPOSE: Support Excellence in the Arts in the Richmond Region | $27,236 |
RICHMOND JAZZ SOCIETY INC PURPOSE: Support Excellence in the Arts in the Richmond Region | $7,219 |