School Of The Arts Foundation Inc
- Assets
- $10.4m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 6
- Location
- West Palm Beach, FL
- Founding
- 06/1994
- Data as of
- 06/2022
- EIN
- 65-0395865
Organization Overview
School Of The Arts Foundation Inc is located in West Palm Beach, FL. The organization was established in 1994. 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. As of 06/2022, School Of The Arts Foundation Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. School Of The 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 06/2022, School Of The Arts Foundation Inc generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.1%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (4.7%) 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
TO GENERATE ECONOMIC AND COMMUNITY FOR THE SCHOOL OF THE ARTS AS WELL AS GENERATE CHARITABLE, SCIENTIFIC, LITERARY & EDUCATIONAL ACTIVITIES FOR THE SCHOOL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLEMENTAL SCHOOL FUNDING TO ASSIST STUDENTS WITHIN EACH OF THE SIX ART DISCIPLINES. FUNDS ARE ALSO USED FOR LONG TERM ENRICHMENT PROGRAMS INCLUDING EQUIPMENT AND MATERIALS, GUEST TEACHERS AND SPEAKERS, COSTUMES AND SUPPLIES.
SCHOLARSHIPS ARE GIVEN TO STUDENTS OF THE SCHOOL OF THE ARTS FOR UNDERGRADUATE SUMMER ARTS ENRICHMENT PROGRAMS. THE MAJORITY OF THE SCHOLARSHIP FUNDS ARE AWARDED TO GRADUATING SENIORS FOR THEIR COLLEGE EXPENSES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Snyder Executive Director | 40 | $159,667 | |
Simon Benson Offit Chair Emeritus | OfficerTrustee | 3 | $0 |
George Elmore Treasurer | OfficerTrustee | 3 | $0 |
Lisa Marie Browne Chairman | OfficerTrustee | 2 | $0 |
Gil Cohen Secretary | OfficerTrustee | 1 | $0 |
Brandon Levine Vice Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $77,086 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,610,455 |
| Noncash contributions included in lines 1a–1f | $77,086 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,687,541 |
| Total Program Service Revenue | $0 |
| Investment income | $234,894 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$102,998 |
| Net Income from Fundraising Events | $32,033 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,851,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $712,722 |
| Grants and other assistance to domestic individuals. | $2,401 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $159,667 |
| Compensation of current officers, directors, key employees. | $63,867 |
| Compensation to disqualified persons | $239,586 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $26,123 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $61,571 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,525 |
| Office expenses | $0 |
| Information technology | $14,482 |
| Royalties | $0 |
| Occupancy | $9,420 |
| Travel | $2,493 |
| 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 | $3,403 |
| Insurance | $9,398 |
| All other expenses | $8,273 |
| Total functional expenses | $1,315,151 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,138,597 |
| Pledges and grants receivable | $908,655 |
| 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 | $102,533 |
| Investments—publicly traded securities | $6,046,217 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $238,547 |
| Total assets | $10,434,549 |
| Accounts payable and accrued expenses | $98,908 |
| Grants payable | $23,031 |
| 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 | $71,270 |
| Total liabilities | $193,209 |
| Net assets without donor restrictions | $633,676 |
| Net assets with donor restrictions | $9,607,664 |
| 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 | $10,434,549 |
Grants Awarded
Over the last fiscal year, School Of The Arts Foundation Inc has awarded $1,021,186 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALEXANDER W DREYFOOS SCHOOL OF THE PURPOSE: SCHOOL FUNDING | $811,479 |
ALEXANDER W DREYFOOS SCHOOL OF ART PURPOSE: CAPITAL CAMPAIGN | $209,707 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that School Of The Arts Foundation Inc has recieved totaling $44,480.
| Awarding Organization | Amount |
|---|---|
Palm Beach Country Club Foundation Inc Palm Beach, FL PURPOSE: GENERAL PURPOSE GRANT | $15,000 |
Greater Washington Community Foundation Washington, DC PURPOSE: GENERAL SUPPORT | $10,000 |
Christian Olsen Private Foundation North Palm Beach, FL PURPOSE: EDUCATION FOR CHILDREN | $7,500 |
Kristine Olsen Private Foundation North Palm Beach, FL PURPOSE: EDUCATION FOR CHILDREN | $7,500 |
Boyd Family Foundation Sugar Land, TX PURPOSE: EDUCATION | $2,000 |
Kingsleys Cause Private Foundation Palm Beach Gardens, FL PURPOSE: GENERAL | $1,000 |
Endowment Analysis
| Beg. Balance | $9,871,134 |
| Earnings | -$988,206 |
| Admin Expense | $42,500 |
| Net Contributions | -$32,566 |
| Grants | $328,743 |
| Ending Balance | $8,479,119 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Arts Of Central Florida Inc Orlando, FL | $7,262,760 | $11,256,012 |
Gwinnett Championship Foundation Inc Duluth, GA | $476,337 | $4,123,025 |
Digital Convergence Alliance Inc Tampa, FL | $2,233,099 | $3,394,790 |
Cobb Community Foundation Inc Atlanta, GA | $18,425,025 | $3,579,591 |
Creative City Collaborative Of Delray Beach Inc Delray Beach, FL | $1,041,652 | $1,722,998 |
School Of The Arts Foundation Inc West Palm Beach, FL | $10,434,549 | $1,851,470 |
Art Culture And Entertainment Inc Pensacola, FL | $146,996 | $1,084,283 |
I Love Music Tour Inc Jacksonville, FL | -$30,381 | $604,942 |
Nasyonbonsamariten Hollywood, FL | $12,299 | $594,257 |
Grsp Foundation Savannah, GA | $15,605,177 | $1,060,324 |
Thomas Dubois Hormel Foundation Inc Fort Lauderdale, FL | $7,512,533 | $223,029 |
Friends With Benefits Fund Augusta, GA | $3,687 | $377,157 |