Theatre Art Galleries
- Assets
- $1.3m
- Revenue
- $438.6k
- Investments
- $647.2k
- Employees
- 4
- Location
- High Point, NC
- Founding
- 05/1993
- Data as of
- 06/2022
- EIN
- 56-1784862
Organization Overview
Theatre Art Galleries is located in High Point, NC. The organization was established in 1993. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Theatre Art Galleries employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Theatre Art Galleries 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 06/2022, Theatre Art Galleries generated $438.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $228.0k during the year ending 06/2022. While expenses have increased by 0.6% 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
TO PROVIDE QUALITY VISUAL ART EXHIBITS AND EDUCATIONAL EXPERIENCES FOR THE ENRICHMENT OF THE ENTIRE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION EXISTS TO EDUCATE & ENRICH THE CITIZENS OF HIGH POINT, NORTH CAROLINA THROUGH EXHIBITIONS & LECTURES IN FINE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doris Deal Emertius | Trustee | 0.5 | $0 |
Lin Amos Director | Trustee | 0.5 | $0 |
Susan Wood Director | Trustee | 0.5 | $0 |
Justin Stabb Director | Trustee | 0.5 | $0 |
Caroline Godwin Director | Trustee | 0.5 | $0 |
Rebecca Mccarter Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $244,146 |
| Related organizations | $0 |
| Government grants | $34,085 |
| All other contributions, gifts, grants, and similar amounts not included above | $107,756 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $385,987 |
| Total Program Service Revenue | $8,157 |
| Investment income | $33,504 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,725 |
| Net Income from Fundraising Events | $4,218 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $438,591 |
| 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. | $106,564 |
| Compensation of current officers, directors, key employees. | $11,722 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $47,357 |
| Pension plan accruals and contributions | $4,154 |
| Other employee benefits | $0 |
| Payroll taxes | $11,946 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,390 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,814 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,150 |
| Office expenses | $17,544 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $854 |
| 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 | $109 |
| Insurance | $0 |
| All other expenses | $7,087 |
| Total functional expenses | $228,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $589,306 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $582 |
| Net Land, buildings, and equipment | $22,857 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $647,196 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,259,941 |
| Accounts payable and accrued expenses | $4,452 |
| 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 | $430,500 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $434,952 |
| Net assets without donor restrictions | $824,989 |
| 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 | $1,259,941 |