Dusti Bonge Art Foundation Inc
- Assets
- $4.9m
- Revenue
- $539.0k
- Investments
- $0.0
- Employees
- 1
- Location
- Biloxi, MS
- Founding
- 03/1996
- Data as of
- 12/2022
- EIN
- 64-0861167
Organization Overview
Dusti Bonge Art Foundation Inc is located in Biloxi, MS. The organization was established in 1996. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. Dusti Bonge Art 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, Dusti Bonge Art Foundation Inc generated $539.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.5% each year . All expenses for the organization totaled $372.0k during the year ending 12/2022. While expenses have increased by 16.3% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE ARTISTIC LEGACY OF DUSTI BONGÉ, MISSISSIPPIS FIRST ABSTRACT EXPRESSIONIST PAINTER, THROUGH EXHIBITION, CONSERVATION, SCHOLARSHIP, AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTRODUCTION OF WORKS OF ART WITHIN THE LOCAL COMMUNITY AND NATIONALLY.
CONSERVATION OF WORKS OF ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Myatt Secretary | Officer | 5 | $0 |
Julie Smith Vice President | Officer | 5 | $0 |
Cynthia Eldridge Treasurer | Officer | 5 | $0 |
Carol Leake President | Officer | 5 | $0 |
Ligia Romer Executive Director | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $895 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $895 |
| Total Program Service Revenue | $140 |
| Investment income | $91,053 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$107,467 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $585,038 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $538,967 |
| 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 | $50,037 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,275 |
| Fees for services: Accounting | $6,431 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,269 |
| Fees for services: Other | $263,080 |
| Advertising and promotion | $0 |
| Office expenses | $568 |
| Information technology | $2,481 |
| Royalties | $0 |
| Occupancy | $14,966 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $7,321 |
| All other expenses | $4,969 |
| Total functional expenses | $371,953 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $334,740 |
| Savings and temporary cash investments | $92,614 |
| 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 | $110,146 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $401,545 |
| Investments—publicly traded securities | $1,557,175 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,367,555 |
| Total assets | $4,863,775 |
| Accounts payable and accrued expenses | -$708 |
| 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 | $0 |
| Total liabilities | -$708 |
| Net assets without donor restrictions | $4,864,483 |
| 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 | $4,863,775 |