Ymi Cultural Center Inc
- Assets
- $4.0m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Asheville, NC
- Founding
- 10/1981
- Data as of
- 06/2023
- EIN
- 58-1448997
Organization Overview
Ymi Cultural Center Inc is located in Asheville, NC. The organization was established in 1981. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Ymi Cultural Center Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ymi Cultural Center 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, Ymi Cultural Center Inc generated $2.1m in total revenue. All expenses for the organization totaled $357.8k during the year ending 06/2023. While expenses have increased by 25.8% per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE YMICC'S MISSION IS TO EMPOWER THE BLACK COMMUNITY TO CELEBRATE ITS RICH CULTURAL HERITAGE THROUGH PROGRAMS THAT PRESERVE AND PROMOTE AFRICAN AMERICAN ARTS AND TRADITIONS WITH A COMMITMENT TO JUSTICE, EQUITY, DIVERSITY AND INCLUSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE YMI CULTURAL CENTER ELEVATES BLACK COMMUNITIES THROUGH CULTURAL, ECONOMIC AND LEADERSHIP DEVELOPMENT ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Thomas Chair | OfficerTrustee | 5 | $0 |
Iindia Pearson Vice Chair | OfficerTrustee | 1 | $0 |
Nina Ireland Secretary | OfficerTrustee | 1 | $0 |
Sherman Williams Treasurer | OfficerTrustee | 1 | $0 |
Nex Millen Director | Trustee | 0.5 | $0 |
Josiah Justice Rogers Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $14,000 |
| Related organizations | $0 |
| Government grants | $1,031,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $902,049 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,947,049 |
| Total Program Service Revenue | $30,912 |
| Investment income | $120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $26,259 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$21,232 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,055,281 |
| 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 | $130,743 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $686 |
| Fees for services: Accounting | $16,558 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $12,500 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $44,271 |
| Advertising and promotion | $4,817 |
| Office expenses | $2,575 |
| 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 | $733 |
| Interest | $6,798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,326 |
| Insurance | -$1,343 |
| All other expenses | $25,914 |
| Total functional expenses | $357,775 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $501,497 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,073,306 |
| 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 | $9,475 |
| Net Land, buildings, and equipment | $63,140 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,369,481 |
| Total assets | $4,016,899 |
| Accounts payable and accrued expenses | $323,814 |
| 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 | $1,365,958 |
| Total liabilities | $1,689,772 |
| Net assets without donor restrictions | $915,887 |
| Net assets with donor restrictions | $1,411,240 |
| 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 | $4,016,899 |