Heart Of The Arts Inc
- Assets
- $2.8m
- Revenue
- $570.3k
- Investments
- $0.0
- Employees
- 16
- Location
- Moscow, ID
- Founding
- 11/2003
- Data as of
- 12/2021
- EIN
- 75-3106131
Organization Overview
Heart Of The Arts Inc is located in Moscow, ID. The organization was established in 2003. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Heart Of The Arts Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Heart Of The Arts 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 12/2021, Heart Of The Arts Inc generated $570.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $272.8k during the year ending 12/2021. While expenses have increased by 4.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION EXISTS TO DEVELOP AND FUND ARTISTIC AND CULTURAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION EXISTS TO DEVELOP AND FUND ARTISTIC AND CULTURAL PROGRAMS.
ORGANIZATION EXISTS TO DEVELOP AND FUND ARTISTIC AND CULTURAL PROGRAMS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jenny Kostroff Executive Dir. | Officer | 40 | $47,496 |
Stephanie Clarkson President | OfficerTrustee | 1 | $0 |
James Pedersen Treasurer | OfficerTrustee | 1 | $0 |
Kim Pedersen Secretary | OfficerTrustee | 1 | $0 |
Becky Tallent Vice President | OfficerTrustee | 1 | $0 |
Sally Amador Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $104,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $364,058 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $468,808 |
| Total Program Service Revenue | $55,019 |
| Investment income | $25 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $46,413 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $570,265 |
| 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. | $47,496 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $32,258 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $6,002 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $340 |
| Advertising and promotion | $416 |
| Office expenses | $9,788 |
| Information technology | $3,667 |
| Royalties | $0 |
| Occupancy | $20,027 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $895 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,129 |
| Insurance | $2,460 |
| All other expenses | $1,454 |
| Total functional expenses | $272,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,765 |
| Savings and temporary cash investments | $318,100 |
| 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 | $831 |
| Net Land, buildings, and equipment | $2,432,608 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,783,304 |
| Accounts payable and accrued expenses | $21,057 |
| 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 | $2,176 |
| Total liabilities | $23,233 |
| Net assets without donor restrictions | $2,286,033 |
| Net assets with donor restrictions | $474,038 |
| 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 | $2,783,304 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Heart Of The Arts Inc has recieved totaling $65,118.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $65,100 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $18 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Utah Arts Festival Foundation Inc Salt Lake City, UT | $348,898 | $1,497,242 |
Centrocultural Mexicano Redmond, WA | $1,206,257 | $2,680,609 |
Path With Art Seattle, WA | $2,031,532 | $2,438,156 |
Western Folklife Center Elko, NV | $4,175,367 | $1,317,220 |
Asia-Northwest Cultural Education Association Tacoma, WA | $252,423 | $1,459,616 |
Portland 5 Centers For The Arts Foundation Portland, OR | $140,561 | $1,203,023 |
Ingersoll Gender Center Seattle, WA | $863,153 | $449,154 |
Portland Rose Festival Foundation Portland, OR | $2,329,427 | $1,493,262 |
Northwest Folklife Seattle, WA | $1,273,751 | $1,146,546 |
Sisters Folk Festival Inc Sisters, OR | $3,152,481 | $1,369,782 |
Kayenta Arts Foundation Ivins, UT | $2,367,602 | $928,340 |
Downtown Slc Presents Salt Lake City, UT | $145,975 | $778,611 |