Bower Center For The Arts
- Assets
- $378.0k
- Revenue
- $248.2k
- Investments
- $0.0
- Employees
- 11
- Location
- Bedford, VA
- Founding
- 05/2016
- Data as of
- 12/2023
- EIN
- 81-0684725
Organization Overview
Bower Center For The Arts is located in Bedford, VA. The organization was established in 2016. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Bower Center For The Arts employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bower 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 12/2023, Bower Center For The Arts generated $248.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (10.9%) each year. All expenses for the organization totaled $271.8k during the year ending 12/2023. 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
TO MAKE VISUAL AND PERFORMING ARTS AVAILABLE TO THE ENTIRE BEDFORD POPULATION; TO BECOME A CREATIVE FORCE AND AN EDUCATIONAL RESOURCE FOR THE COMMUNITY, AND TO HARNESS THE ECONOMIC VITALITY OF THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAMS TO MAKE VISUAL AND PERFORMING ARTS AVAILABLE TO THE ENTIRE BEDFORD POPULATION: TO BECOME A CREATIVE FORCE AND AN EDUCATIONAL RESOURCE FOR THE COMMUNITY, AND TO HARNESS THE ECONOMIC VITALITY OF THE ARTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Desmond Black Facilities Chair Person | OfficerTrustee | 5 | $0 |
Emilie Temeles Director | Trustee | 2 | $0 |
Stacey Hailey Second Vice President | OfficerTrustee | 5 | $0 |
Janet Chalker Treasurer | OfficerTrustee | 5 | $0 |
Toni Henneman Director | Trustee | 1 | $0 |
Perri Mason Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $6,600 |
| Related organizations | $0 |
| Government grants | $12,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $159,214 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $177,814 |
| Total Program Service Revenue | $51,290 |
| Investment income | $112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,874 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $223 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,861 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $248,176 |
| 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. | $63,751 |
| Compensation of current officers, directors, key employees. | $21,875 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,468 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,266 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,114 |
| Advertising and promotion | $793 |
| Office expenses | $5,772 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,707 |
| 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 | $18,520 |
| Insurance | $7,284 |
| All other expenses | $15,954 |
| Total functional expenses | $271,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,747 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,816 |
| 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 | $559 |
| Net Land, buildings, and equipment | $318,903 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $378,025 |
| Accounts payable and accrued expenses | $9,943 |
| 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 | $18,258 |
| Total liabilities | $28,201 |
| Net assets without donor restrictions | $332,301 |
| Net assets with donor restrictions | $17,523 |
| 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 | $378,025 |