Cherry Creek Arts Festival
- Assets
- $2.6m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Denver, CO
- Founding
- 10/1989
- Data as of
- 09/2021
- EIN
- 74-2546811
Organization Overview
Cherry Creek Arts Festival, operating under the name Cherry Arts, is located in Denver, CO. The organization was established in 1989. 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 09/2021, Cherry Arts employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry 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 09/2021, Cherry Arts generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.3%) each year. All expenses for the organization totaled $1.8m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CHERRY ARTS 501C3 NON PROFIT MISSION IS TO PROVIDE ACCESS TO ART EXPERIENCES AND SUPPORT ARTS EDUCATION IN COLORADO
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHERRY CREEK ARTS FESTIVAL-PROVIDES FREE OF CHARGE AN INTERACTIVE VISUAL ARTS EXPERIENCE FOR APPROXIMATELY 350,000 ATTENDEES. THE FOCUS OF ACTIVITIES IS A JURIED EXHIBITION WITH ARTISTS FROM VARIOUS STATES & COUNTRIES SHOWING THEIR WORKS OF ART.
EDUCATION AND OUTREACH-PROGRAMS ARE DESIGNED TO BE MOBILE BRINGING ART PROGRAMS DIRECTLY INTO SCHOOLS AND COMMUNITY CENTERS. EDUCATIONAL INITIATIVES ARE DESIGNED TO NURTURE FUTURE GENERATIONS OF ARTS SUPPORTERS AND EXPOSE YOUNG MINDS TO THE MANY SOCIAL AND INDIVIDUAL BENEFITS OF EXPERIENCING AND CREATING ART.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Brickell Executive Director | OfficerTrustee | 40 | $114,747 |
Judith Lajoie Board Chair | OfficerTrustee | 2 | $0 |
Britta Miles Vice Chair | OfficerTrustee | 2 | $0 |
Joanne Reilly Secretary Treasurer | OfficerTrustee | 2 | $0 |
John Claude Futrell Board Member | Trustee | 2 | $0 |
Ron Hicks Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $169,078 |
| All other contributions, gifts, grants, and similar amounts not included above | $604,608 |
| Noncash contributions included in lines 1a–1f | $455,733 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $773,686 |
| Total Program Service Revenue | $574,925 |
| Investment income | $27,277 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $68,643 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,539,850 |
| 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. | $114,747 |
| Compensation of current officers, directors, key employees. | $26,966 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $194,000 |
| Pension plan accruals and contributions | $11,198 |
| Other employee benefits | $29,276 |
| Payroll taxes | $23,681 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $57,736 |
| Advertising and promotion | $562,670 |
| Office expenses | $13,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $68,244 |
| 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 | $4,033 |
| Insurance | $21,011 |
| All other expenses | $660,935 |
| Total functional expenses | $1,760,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $50,623 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $208,857 |
| 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 | $254,279 |
| Investments—publicly traded securities | $2,102,480 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $894 |
| Total assets | $2,617,133 |
| Accounts payable and accrued expenses | $124,537 |
| 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 | $91,561 |
| Total liabilities | $216,098 |
| Net assets without donor restrictions | $2,240,285 |
| Net assets with donor restrictions | $160,750 |
| 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 | $2,617,133 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cherry Creek Arts Festival has recieved totaling $10,014.
| Awarding Organization | Amount |
|---|---|
Mdc Richmond American Homes Foundation Denver, CO PURPOSE: General Operating Support | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $14 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mosaic Employee Welfare Benefit Plan Trust Omaha, NE | $7,371,640 | $16,223,052 |
Phoenix Painting Industry Trust Fund Phoenix, AZ | $8,745,449 | $4,690,569 |
Redline Denver, CO | $19,188,382 | $2,483,556 |
National Council On Education For The Ceramic Arts Boulder, CO | $3,277,590 | $1,203,112 |
Cherry Creek Arts Festival Denver, CO | $2,617,133 | $1,539,850 |
Art Association Of Jackson Hole Jackson, WY | $1,265,273 | $1,643,063 |
Foothills Art Center Inc Golden, CO | $2,162,133 | $1,395,944 |
Studio Arts Boulder Inc Boulder, CO | $3,831,022 | $2,254,756 |
Craft Lake City Salt Lake City, UT | $319,746 | $884,315 |
The Art Base Basalt, CO | $2,805,955 | $1,249,612 |
Turrell Art Foundation Flagstaff, AZ | $84,539,675 | $27,051,414 |
Lux Center For The Arts Lincoln, NE | $2,353,211 | $746,199 |