Key West Art Center Inc is located in Key West, FL. The organization was established in 1992. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Key West Art Center Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Key West Art 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 12/2021, Key West Art Center Inc generated $166.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $133.6k during the year ending 12/2021. While expenses have increased by 4.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF THE ARTS IN KEY WEST BY PROVIDING A CULTURAL CENTER TO BE USED FOR ART EXHIBITS, EDUCATION, AND THE ENCOURAGEMENT OF ARTISTIC DEVELOPMENT THROUGHOUT THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF THE ARTS IN KEY WEST BY PROVIDING A CULTURAL CENTER TO BE USED FOR ART EXHIBITS, EDUCATION, AND THE ENCOURAGEMENT OF ARTISTIC DEVELOPMENT THROUGHOUT THE COMMUNITY.
PROMOTION OF THE ARTS IN KEY WEST BY PROVIDING A CULTURAL CENTER TO BE USED FOR ART EXHIBITS, EDUCATION, AND THE ENCOURAGEMENT OF ARTISTIC DEVELOPMENT THROUGHOUT THE COMMUNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joan Cox Treasurer | Officer | $0 | |
Susann D'antonio Co-Vice Pres | Officer | $0 | |
Nancy Henning President | Officer | $0 | |
Carol Rezba Co-Vice Pres | Officer | $0 | |
Margo Ellis Secretary | Officer | $0 | |
Rita Walter Fundraising/ | Trustee | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $5,000 |
Membership dues | $12,829 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $30,888 |
All other contributions, gifts, grants, and similar amounts not included above | $12,139 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $60,856 |
Total Program Service Revenue | $0 |
Investment income | $17,559 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $40,072 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $48,009 |
Miscellaneous Revenue | $0 |
Total Revenue | $166,496 |
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 | $50,660 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $3,876 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $7,860 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $3,523 |
Fees for services: Other | $15,826 |
Advertising and promotion | $16,760 |
Office expenses | $4,854 |
Information technology | $1,106 |
Royalties | $0 |
Occupancy | $7,490 |
Travel | $25 |
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 | $171 |
Insurance | $2,755 |
All other expenses | $2,636 |
Total functional expenses | $133,637 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $105,034 |
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 | $0 |
Net Land, buildings, and equipment | $256 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $311,044 |
Total assets | $416,334 |
Accounts payable and accrued expenses | $0 |
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 | $39,982 |
Total liabilities | $39,982 |
Net assets without donor restrictions | $376,352 |
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 | $416,334 |
Over the last fiscal year, we have identified 2 grants that Key West Art Center Inc has recieved totaling $1,005.
Awarding Organization | Amount |
---|---|
Ferris Foundation Inc New York, NY PURPOSE: GENERAL | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Organization Name | Assets | Revenue |
---|---|---|
Jorge M Perez Art Museum Of Miami Dade County Inc Miami, FL | $170,476,765 | $20,155,933 |
Norton Museum Of Art Inc West Palm Beach, FL | $222,458,211 | $26,618,274 |
Salvador Dali Museum Inc St Petersburg, FL | $91,811,213 | $16,504,517 |
Institute Of Contemporary Art Miami Inc Miami, FL | $55,226,437 | $8,674,913 |
Telfair Museum Of Art Inc Savannah, GA | $65,681,011 | $7,397,922 |
Deette Holden Cummer Museum Foundation Inc Jacksonville, FL | $55,301,594 | $7,203,933 |
James Museum Of Western Art St Petersburg, FL | $84,650,622 | $18,663,033 |
Boca Raton Museum Of Art Inc Boca Raton, FL | $21,164,716 | $6,166,794 |
Museum Of Fine Arts Of St Petersburg Fla Inc St Petersburg, FL | $51,064,193 | $3,959,049 |
Tampa Museum Of Art Inc Tampa, FL | $21,710,466 | $4,685,160 |
Orlando Museum Of Art Inc Orlando, FL | $14,433,730 | $4,128,087 |
Friends Of The Bass Museum Inc Miami Beach, FL | $15,827,665 | $3,183,331 |