Galveston Arts Center Inc
- Assets
- $3.2m
- Revenue
- $567.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Galveston, TX
- Founding
- 01/1987
- Data as of
- 08/2023
- EIN
- 76-0196609
Organization Overview
Galveston Arts Center Inc is located in Galveston, TX. The organization was established in 1987. 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 08/2023, Galveston Arts Center Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Galveston Arts Center 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 08/2023, Galveston Arts Center Inc generated $567.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $586.5k during the year ending 08/2023. While expenses have increased by 1.1% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ARTS PRESERVATION AND ENHANCEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISPLAY OF CONTEMPORARY ARTS AND CRAFTS FOR PUBLIC VIEWING AND PURCHASE, EDUCATIONAL CLASSES TEACHING VARIOUS ART SKILLS AND HOSTING SPECIAL EVENTS TO PROMOTE HISTORIC DOWNTOWN GALVESTON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Butler Treasurer | Trustee | 1 | $0 |
Barbara Railey Director | Trustee | 1 | $0 |
Carol Bunch Davis Director | Trustee | 1 | $0 |
Jeannie Janota Director | Trustee | 1 | $0 |
Doug Mclean Past President | Trustee | 1 | $0 |
Brent Bell Vice President | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $195,928 |
| All other contributions, gifts, grants, and similar amounts not included above | $282,286 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $478,214 |
| Total Program Service Revenue | $61,519 |
| Investment income | $4,274 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,812 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,840 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $567,659 |
| 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 | $220,416 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,956 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,184 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25,530 |
| Office expenses | $1,553 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,854 |
| 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 | $96,894 |
| Insurance | $42,965 |
| All other expenses | $88,891 |
| Total functional expenses | $586,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,530 |
| Savings and temporary cash investments | $160,327 |
| 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 | $2,969,317 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,210,174 |
| Accounts payable and accrued expenses | $0 |
| 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 | $14,909 |
| Total liabilities | $14,909 |
| Net assets without donor restrictions | -$203,366 |
| Net assets with donor restrictions | $3,398,631 |
| 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 | $3,210,174 |