Arts Council Incorporated Winston-Salem Arts Council
- Assets
- $15.2m
- Revenue
- $3.1m
- Investments
- $1.0m
- Employees
- 55
- Location
- Winstonsalem, NC
- Founding
- 05/1953
- Data as of
- 09/2021
- EIN
- 56-0526856
Organization Overview
Arts Council Incorporated Winston-Salem Arts Council is located in Winstonsalem, NC. The organization was established in 1953. 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 09/2023, Arts Council Incorporated Winston-Salem Arts Council employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arts Council Incorporated Winston-Salem Arts Council 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 09/2021, Arts Council Incorporated Winston-Salem Arts Council generated $3.1m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $3.3m during the year ending 09/2021. While expenses have increased by 3.3% per year over the past 3 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 2020, Arts Council Incorporated Winston-Salem Arts Council has awarded 106 individual grants totaling $3,924,167. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONAL MISSION IS TO SUPPORT AND ADVANCE THE LEGACY OF INNOVATION IN AND ACCESS TO THE ARTS AS A CORE COMMUNITY VALUE, BY PROVIDING GRANTS AND VENUES FOR ARTISTS AND ART ORGANIZATIONS TO PRACTICE AND EXECUTE THEIR ART FORM IN FACILTIES THAT ARE EFFICIENTLY AND EFFECTIVELY OPERATED, AND TO CREATE AN ENVIRONMENT IN WHICH THE ARTS FLOURISH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARTS COUNCIL OWNS AND MANAGES VARIOUS ARTS COMPLEXES AND THEATRES. THESE FACILITIES ARE LOCATED ON APPROXIMATELY SEVEN ACRES IN THE CENTER OF DOWNTOWN WINSTON-SALEM. THE PROPERTIES INCLUDE COMMUNITY EVENT SPACES, OFFICES FOR NONPROFIT CHARITABLE ORGANIZATIONS, ACTIVITY ROOMS FOR CHILDREN AND ADULT PROGRAMMING AND RELATED SPACES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chase Law President & | Officer | 60 | $214,696 |
Christina Soriano Board Member | Trustee | 1 | $0 |
Clare Fader Board Member | Trustee | 1 | $0 |
Drew Gerstmyer Board Member | Trustee | 1 | $0 |
Eric Swaim Board Member | Trustee | 1 | $0 |
Iris Cole Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,732,290 |
| Investment income | $46 |
| 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 | $3,085,185 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $101,160 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $169,384 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $562,999 |
| Pension plan accruals and contributions | $8,758 |
| Other employee benefits | $76,365 |
| Payroll taxes | $49,445 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,157 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $32,965 |
| Advertising and promotion | $24,168 |
| Office expenses | $92,316 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $278,683 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,876 |
| Interest | $66,828 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $608,981 |
| Insurance | $41,863 |
| All other expenses | $0 |
| Total functional expenses | $3,327,011 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $742,680 |
| Savings and temporary cash investments | $138,548 |
| Pledges and grants receivable | $1,052,204 |
| Accounts receivable, net | $78,270 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $113,500 |
| Prepaid expenses and deferred charges | $34,558 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,001,384 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $619,692 |
| Total assets | $15,176,121 |
| Accounts payable and accrued expenses | $108,386 |
| Grants payable | $8,817 |
| Deferred revenue | $3,199 |
| Tax-exempt bond liabilities | $3,411,029 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $329,909 |
| Unsecured mortgages and notes payable | $349,022 |
| Other liabilities | $0 |
| Total liabilities | $4,210,362 |
| Net assets without donor restrictions | $7,614,195 |
| Net assets with donor restrictions | $3,351,564 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $10,965,759 |
Grants Awarded
Over the last fiscal year, Arts Council Incorporated Winston-Salem Arts Council has awarded $1,223,777 in support to 40 organizations.
| Grant Recipient | Amount |
|---|---|
1 LOVE FESTIVAL PURPOSE: OPERATING ASSISTANCE | $80,032 |
6AM CITY INC PURPOSE: OPERATING ASSISTANCE | $12,500 |
APERTURE PURPOSE: OPERATING ASSISTANCE | $17,804 |
ACTION4EQUITY PURPOSE: OPERATING ASSISTANCE | $37,450 |
ARTS DISTRICT OF WINSTON-SALEMASSOCIATION INC PURPOSE: OPERATING ASSISTANCE | $10,396 |
ART SHAC INC PURPOSE: OPERATING ASSISTANCE | $7,500 |