Gadsden Cultural Arts Foundation Inc
- Assets
- $3.7m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 20
- Location
- Gadsden, AL
- Founding
- 05/1986
- Data as of
- 12/2023
- 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 12/2023, 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 12/2023, Gadsden Cultural Arts Foundation Inc generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.1%) 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
2023
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 449 MEMBERS AND PERFORMS REGULARLY, BOTH IN GADSDEN AND OUT OF STATE.
VARIOUS OTHER PROGRAMS - IMAGINATION PLACE, GADSDEN SYMPHONY ORCHESTRA, PROJECT INCOME
EXHIBITS - THERE ARE NUMEROUS EXHIBITS AT THE CENTER EACH YEAR.
CLASSES - CLASSES DESIGNED TO OFFER INSTRUCTION SUCH AS ART, DANCE, AND MUSIC TO APPROXIMATELY 990 PEOPLE IN THE COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heidi Prime Director | Trustee | 0 | $0 |
Cody Robinson Director | Trustee | 0 | $0 |
Bo Arthur Director | Trustee | 0 | $0 |
Jessica Brown Vice Chairman | OfficerTrustee | 0 | $0 |
Catherine Bailey Director | Trustee | 0 | $0 |
Alie Causey Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $28,900 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $462,847 |
| 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 | $491,747 |
| Total Program Service Revenue | $853,402 |
| Investment income | $62,117 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $73,053 |
| Net Income from Fundraising Events | $141,353 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,622,766 |
| 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 | $720,239 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $59,132 |
| Other employee benefits | $34,084 |
| Payroll taxes | $57,334 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,853 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,907 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,729 |
| Office expenses | $15,838 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $111,776 |
| Travel | $1,835 |
| 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 | $141,383 |
| Insurance | $57,694 |
| All other expenses | $124,137 |
| Total functional expenses | $1,683,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $140,092 |
| Savings and temporary cash investments | $105,817 |
| 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 | $1,502,578 |
| Investments—publicly traded securities | $1,973,648 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,722,135 |
| 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 | $9,997 |
| Total liabilities | $9,997 |
| Net assets without donor restrictions | $3,712,138 |
| 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 | $3,722,135 |