Gadsden Cultural Arts Foundation Inc
- Assets
- $3.8m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 20
- Location
- Gadsden, AL
- Founding
- 05/1986
- Data as of
- 12/2022
- EIN
- 63-0899081
Organization Overview
Gadsden Cultural Arts Foundation Inc is located in Gadsden, AL. The organization was established in 1986. 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 12/2022, Gadsden Cultural Arts Foundation Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gadsden Cultural Arts 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 12/2022, Gadsden Cultural Arts Foundation Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 8 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
PROMOTION OF ARTISTIC ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH SYMPHONY ORCHESTRA - LOCAL SCHOOL STUDENTS PARTICIPATE IN THIS GROUP WHICH HAS 273 MEMBERS AND PERFORMS REGULARLY, BOTH IN GADSDEN AND OUT OF STATE.
EXHIBITS - THERE ARE NUMEROUS EXHIBITS AT THE CENTER EACH YEAR.
CLASSES - CLASSES DESIGNED TO OFFER INSTRUCTION SUCH AS ART, DANCE, AND MUSIC TO APPROXIMATELY 713 PEOPLE IN THE COMMUNITY.
VARIOUS OTHER PROGRAMS - IMAGINATION PLACE, GADSDEN SYMPHONY ORCHESTRA, PROJECT INCOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Brown Vice Chairman | OfficerTrustee | 0 | $0 |
Kay Moore Treasurer | OfficerTrustee | 0 | $0 |
Catherine Martin Chairman | OfficerTrustee | 0 | $0 |
Elisabeth Hardin Secretary | Officer | 0 | $0 |
Noorkarim Nagji Director | Trustee | 0 | $0 |
Heidi Prime Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $23,220 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $458,896 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $482,116 |
| Total Program Service Revenue | $832,381 |
| Investment income | $57,995 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $50,283 |
| Net Income from Fundraising Events | $68,437 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,493,599 |
| 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 | $632,035 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $68,812 |
| Other employee benefits | $33,029 |
| Payroll taxes | $53,166 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,997 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,349 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,265 |
| Office expenses | $13,019 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $81,543 |
| Travel | $6,360 |
| 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 | $120,792 |
| Insurance | $43,877 |
| All other expenses | $126,070 |
| Total functional expenses | $1,513,404 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,681 |
| Savings and temporary cash investments | $192,088 |
| 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 | $1,296,814 |
| Investments—publicly traded securities | $2,058,460 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,782,043 |
| 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 | $9,606 |
| Total liabilities | $9,606 |
| Net assets without donor restrictions | $3,772,437 |
| 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 | $3,782,043 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Gadsden Cultural Arts Foundation Inc has recieved totaling $15,053.
| Awarding Organization | Amount |
|---|---|
Daniel Foundation Of Alabama Birmingham, AL PURPOSE: CHARITABLE | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $53 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of The Four Arts Palm Beach, FL | $121,173,909 | $24,597,391 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
Irma And Norman Braman Art Foundation Miami, FL | $27,200,000 | -$200,000 |
Korean Martial Arts Culture & Education Foundation Inc Hollywood, FL | $530,186 | $4,469,417 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Memphis Equity Through Arts Meta Incorporated Memphis, TN | $5,874,530 | $7,164,597 |
Memphis In May International Festival Inc Memphis, TN | $4,677,503 | $2,273,583 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |
Miami Broward One Carnival Host Committee Inc Miami, FL | $499,382 | $2,415,530 |
Artsnow Inc Atlanta, GA | $4,742,407 | $2,526,341 |
Dunedin Fine Arts Cultural Center Inc Dunedin, FL | $9,442,187 | $2,311,828 |