Waco Creative Art Center
- Assets
- $2.4m
- Revenue
- $639.5k
- Investments
- $202.0k
- Employees
- 13
- Location
- Waco, TX
- Founding
- 05/1973
- Data as of
- 06/2021
- EIN
- 74-1721811
Organization Overview
Waco Creative Art Center is located in Waco, TX. The organization was established in 1973. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Waco Creative Art Center employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waco Creative Art Center 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 06/2021, Waco Creative Art Center generated $639.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 34.1% each year . All expenses for the organization totaled $199.0k during the year ending 06/2021. While expenses have increased by 9.2% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE THE COMMUNITY ABOUT CREATIVE ART EXPRESSION; ENCOURAGE APPRECIATION OF VARIOUS ART FORMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION CLASSES, WORKSHOPS, ARTISTS' MARKETS - TO PROMOTE THE EDUCATION OF THE GENERAL PUBLIC IN THE APPRECIATION OF ART
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance Magid Vice Chairman | OfficerTrustee | 1 | $0 |
Jill Michaels Chairman | OfficerTrustee | 1 | $0 |
Ansuya Abnoussi Secretary | OfficerTrustee | 1 | $0 |
Duane Sartor Treasurer | OfficerTrustee | 1 | $0 |
Lenny Caballero Director | Trustee | 1 | $0 |
Bryant Stanton Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,090 |
| Fundraising events | $10,147 |
| Related organizations | $0 |
| Government grants | $46,481 |
| All other contributions, gifts, grants, and similar amounts not included above | $512,402 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $574,120 |
| Total Program Service Revenue | $34,042 |
| Investment income | $3,271 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,045 |
| Net Income from Fundraising Events | $16,550 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $500 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $639,528 |
| 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 | $121,648 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,226 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,469 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10 |
| Office expenses | $708 |
| Information technology | $4,939 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,411 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $15,016 |
| Insurance | $10,333 |
| All other expenses | $7,701 |
| Total functional expenses | $199,025 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $495,002 |
| 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 | $1,194,049 |
| Investments—publicly traded securities | $251,694 |
| Investments—other securities | $201,980 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $221,915 |
| Total assets | $2,364,640 |
| Accounts payable and accrued expenses | $5,697 |
| 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 | $23,681 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $29,378 |
| Net assets without donor restrictions | $1,986,095 |
| Net assets with donor restrictions | $349,167 |
| 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 | $2,364,640 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Waco Creative Art Center has recieved totaling $392,600.
| Awarding Organization | Amount |
|---|---|
Madison Alexander Cooper And Martha Roane Cooper Foundation Waco, TX PURPOSE: TWO ART CLASSROOMS | $250,000 |
Waco Foundation Waco, TX PURPOSE: UNDESIGNATED | $107,600 |
Creative Waco Waco, TX PURPOSE: OPERATIONAL SUPPORT AND PROJECT GRANT | $35,000 |
Endowment Analysis
| Beg. Balance | $509,255 |
| Earnings | $50,378 |
| Admin Expense | $1,441 |
| Other Expense | $209,025 |
| Ending Balance | $349,167 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dallas Contemporary Dallas, TX | $3,580,432 | $1,729,811 |
Louisiana Art And Science Museum Inc Baton Rouge, LA | $6,561,733 | $3,010,375 |
Kid Smart New Orleans, LA | $1,431,671 | $1,483,541 |
Glass Control Inc Emp Ben Tr Lubbock, TX | $187,823 | $1,183,121 |
Ballroom Cultural Arts Foundation Marfa, TX | $1,422,501 | $1,165,140 |
Gil And Dody Weaver Foundation Dallas, TX | $0 | $964,218 |
Fotofest Inc Houston, TX | $1,959,929 | $2,155,129 |
Interform Springdale, AR | $499,617 | $931,526 |
Inspiration Point Fine Arts Colony Inc Eureka Springs, AR | $3,726,831 | $2,341,148 |
Dallas Spark Dallas, TX | $494,166 | $779,653 |
Valere B Potter Trust Uw Dallas, TX | $5,062,926 | $695,206 |
Creative Arts Center Of Dallas Dallas, TX | $609,840 | $730,284 |