The Classic Center Cultural Foundation Inc
- Assets
- $2.2m
- Revenue
- $507.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Athens, GA
- Founding
- 04/2001
- Data as of
- 06/2022
- EIN
- 58-2594235
Organization Overview
The Classic Center Cultural Foundation Inc is located in Athens, GA. The organization was established in 2001. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Classic Center Cultural 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 06/2022, Classic Center Cultural Foundation Inc generated $507.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $472.4k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 7 years. 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
SUPPORT CLASSIC CENTER PROMOTE CULTURAL AWARENESS
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS - GIVEN TO COMMUNITY HIGH SCHOOL PERFORMING ARTS, CULINARY ARTS, AND VISUAL ARTS STUDENTS
SPONSORSHIPS - GIVEN TO LOCAL NON-PROFIT ORGANIZATIONS
CELEBRATION OF THE ARTS, SHOW RECEPTIONS, AND OTHER EVENTS - MEMBER EV HELD TO PROMOTE THE CLASSIC CENTER OF ATHENS, GA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack Crowley President | OfficerTrustee | 5 | $0 |
Jinx Patel Treasurer | OfficerTrustee | 5 | $0 |
Gwen O'looney Vice President | OfficerTrustee | 5 | $0 |
Chad Brown Secretary | OfficerTrustee | 5 | $0 |
Paul Cramer Exofficio | Trustee | 10 | $0 |
Beth Bryant Director | Trustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $160,738 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $27,418 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $188,156 |
| Total Program Service Revenue | $138,312 |
| Investment income | $104,812 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,655 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $77,430 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $507,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,339 |
| Grants and other assistance to domestic individuals. | $51,381 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $19,613 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $164,329 |
| Fees for services: Legal | $6,911 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,874 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,932 |
| Office expenses | $891 |
| 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 | $0 |
| Interest | $5,612 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $182,523 |
| Total functional expenses | $472,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $183,121 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $81,309 |
| 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 | $6,095 |
| Net Land, buildings, and equipment | $170,000 |
| Investments—publicly traded securities | $1,749,280 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,189,805 |
| Accounts payable and accrued expenses | $52,304 |
| Grants payable | $0 |
| Deferred revenue | $260,100 |
| 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 | $155,612 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $468,016 |
| Net assets without donor restrictions | $0 |
| 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 | $1,721,789 |
| Total liabilities and net assets/fund balances | $2,189,805 |
Grants Awarded
Over the last fiscal year, The Classic Center Cultural Foundation Inc has awarded $37,794 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CLASSIC CENTER AUTHORITY PURPOSE: MASK MAKING | $13,897 |
CLASSIC CENTER AUTHORITY PURPOSE: MASK MAKING | $13,897 |
HISTORIC COBBHAM FOUNDATIO PURPOSE: MOSAICS COBBHAM TRIANGLE | $5,000 |
HISTORIC COBBHAM FOUNDATIO PURPOSE: MOSAICS COBBHAM TRIANGLE | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that The Classic Center Cultural Foundation Inc has recieved totaling $17,363.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $9,263 |
Athens Area Community Foundation Inc Athens, GA PURPOSE: PHILANTHROPY | $8,100 |
Endowment Analysis
| Beg. Balance | $1,753,718 |
| Earnings | -$215,397 |
| Admin Expense | $9,874 |
| Net Contributions | $220,833 |
| Ending Balance | $1,749,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Adrienne Arsht Center Trust Inc Miami, FL | $40,375,100 | $35,550,513 |
Dr Phillips Center For The Performing Arts Inc Orlando, FL | $72,410,407 | $23,068,254 |
North Carolina Museum Of Art Foundation Inc Raleigh, NC | $80,876,506 | $13,828,837 |
Broward Performing Arts Foundation Inc Fort Lauderdale, FL | $22,267,625 | $6,295,369 |
Alabama Educational Television Foundation Authority Birmingham, AL | $11,749,441 | $5,899,982 |
Memphis Brooks Museum Of Art Inc Memphis, TN | $44,232,792 | $7,821,496 |
Marbles Kids Museum Raleigh, NC | $8,790,326 | $3,967,863 |
Udt-Seal Museum Association Inc Fort Pierce, FL | $11,703,499 | $4,225,376 |
Tampa Bay Performing Arts Center Foundation Inc Tampa, FL | $58,693,450 | $5,079,168 |
Bellingrath Gardens And Home Foundation Inc Theodore, AL | $4,998,208 | $3,680,917 |
Friends Of Nc State Museum Of Natural Sciences Raleigh, NC | $9,967,287 | $3,956,524 |
Centennial Park Conservancy Nashville, TN | $5,267,235 | $2,768,009 |