Center For The Arts
- Assets
- $21.9m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 99
- Location
- Crested Butte, CO
- Founding
- 05/1987
- Data as of
- 10/2023
- EIN
- 74-2451146
Organization Overview
Center For The Arts is located in Crested Butte, CO. The organization was established in 1987. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 10/2023, Center For The Arts employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For The Arts 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 10/2023, Center For The Arts generated $3.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $3.5m during the year ending 10/2023. 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
ENRICHING AND ENGAGING THE COMMUNITY BY FOSTERING ARTISTIC EXPRESSION AND CULTURAL EXPERIENCES IN COLORADO'S UPPER EAST RIVER VALLEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CENTER FOR THE ARTS IS A COMMUNITY FACILITY WITH THE PRIMARY PURPOSE OF PROVIDING A PERFORMANCE FACILITY FOR LOCAL ART GROUPS, AS WELL AS BRINGING OUTSIDE PERFORMANCE GROUPS TO THE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Carter President | OfficerTrustee | 2 | $0 |
Lang Ingalls Vice President | OfficerTrustee | 2 | $0 |
Lydia Deutsch Secretary | OfficerTrustee | 2 | $0 |
Bob Valentine Treasurer | OfficerTrustee | 2 | $0 |
Barbara Glazer Rosenblatt Member | Trustee | 2 | $0 |
Leigh Mundy Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $723,260 |
| Related organizations | $0 |
| Government grants | $3,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,120,059 |
| Noncash contributions included in lines 1a–1f | $63,043 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,846,819 |
| Total Program Service Revenue | $618,080 |
| Investment income | $750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $267,450 |
| Net Gain/Loss on Asset Sales | $84,795 |
| Net Income from Fundraising Events | $12,734 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $171,433 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,002,061 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $229,620 |
| Compensation of current officers, directors, key employees. | $114,810 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $866,716 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $71,190 |
| Payroll taxes | $104,907 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,636 |
| Fees for services: Accounting | $33,269 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,879 |
| Fees for services: Other | $37,621 |
| Advertising and promotion | $81,954 |
| Office expenses | $67,318 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $263,471 |
| Travel | $48,376 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $94,766 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $560,135 |
| Insurance | $69,825 |
| All other expenses | $5,075 |
| Total functional expenses | $3,527,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $526,129 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,275,898 |
| Accounts receivable, net | $75,352 |
| 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 | $33,162 |
| Net Land, buildings, and equipment | $17,885,931 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,062,252 |
| Total assets | $21,858,724 |
| Accounts payable and accrued expenses | $97,336 |
| 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 | $1,400,000 |
| Other liabilities | $0 |
| Total liabilities | $1,497,336 |
| Net assets without donor restrictions | $18,878,288 |
| Net assets with donor restrictions | $1,483,100 |
| 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 | $21,858,724 |