Magnolia Arts Council Inc
- Assets
- $497.7k
- Revenue
- $292.7k
- Investments
- $11.0k
- Employees
- 1
- Location
- Magnolia, AR
- Founding
- 01/1977
- Data as of
- 06/2022
- EIN
- 71-0481133
Organization Overview
Magnolia Arts Council Inc is located in Magnolia, AR. The organization was established in 1977. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, 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. Magnolia Arts Council 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, Magnolia Arts Council Inc generated $292.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $159.7k during the year ending 06/2022. While expenses have increased by 4.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION STRIVES TO BRING ART OF ALL KINDS TO THE PEOPLE OF COLUMBIA COUNTY, ARKANSAS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART SHOWS AND THEATRICAL PRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wally Wood Treasurer | OfficerTrustee | $0 | |
Steven Ochs President | OfficerTrustee | $0 | |
Steve Nipper Vice Preside | OfficerTrustee | $0 | |
Deby Jones Secretary | Officer | $0 | |
Mike Boyd Director | Trustee | $0 | |
Morgan Smith Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $235,840 |
| All other contributions, gifts, grants, and similar amounts not included above | $32,694 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $268,534 |
| Total Program Service Revenue | $24,861 |
| Investment income | -$731 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $292,664 |
| 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. | $29,741 |
| Compensation of current officers, directors, key employees. | $2,974 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,311 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,319 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,895 |
| Office expenses | $8,105 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,727 |
| 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 | $13,872 |
| Insurance | $10,424 |
| All other expenses | $9,415 |
| Total functional expenses | $159,707 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,073 |
| 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 | $379,624 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,001 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $497,698 |
| Accounts payable and accrued expenses | $11 |
| 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 | $11 |
| Net assets without donor restrictions | $383,688 |
| Net assets with donor restrictions | $113,999 |
| 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 | $497,698 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Magnolia Arts Council Inc has recieved totaling $15,487.
| Awarding Organization | Amount |
|---|---|
Magale Foundation Shreveport, LA PURPOSE: GENERAL FUND FOR EDUCATIONAL EXPENSES FOR ARTS, THEATRE , FILM , MUSIC PROGRAMS | $10,000 |
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $5,000 |
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $225 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $112 |
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $100 |
Albemarle Foundation Charlotte, NC PURPOSE: PROGRAM ASSISTANCE | $50 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walton Arts Center Council Inc Fayetteville, AR | $96,355,253 | $44,644,953 |
Houston Arts Alliance Houston, TX | $29,688,694 | $26,121,886 |
Mid-America Arts Alliance Kansas City, MO | $12,444,344 | $5,873,119 |
Arts Council Of Oklahoma City Oklahoma City, OK | $5,417,646 | $3,471,903 |
Arts Memphis Memphis, TN | $27,136,198 | $4,849,435 |
Regional Cultural & Performing Arts Development Commission St Louis, MO | $5,092,606 | $4,539,915 |
Acadiana Center For The Arts Lafayette, LA | $2,214,037 | $2,734,982 |
Arts And Humanities Council Of Tulsa Inc Tulsa, OK | $13,547,923 | $1,595,922 |
Arts Council Of New Orleans New Orleans, LA | $1,809,882 | $2,444,435 |
Arts Council Of Greater Baton Rouge Inc Baton Rouge, LA | $4,710,204 | $2,512,753 |
Arts & Education Council Of Greater St Louis St Louis, MO | $3,607,788 | $2,239,386 |
Metropolitan Arts Council Of Greater Kansas City Kansas City, MO | $1,490,400 | $2,232,014 |