Cornelius Arts Community Center Inc
- Assets
- $25.7m
- Revenue
- $3.4m
- Investments
- $534.5k
- Employees
- 24
- Location
- Cornelius, NC
- Founding
- 03/2017
- Data as of
- 06/2024
- EIN
- 81-4628087
Organization Overview
Cornelius Arts Community Center Inc, operating under the name Cain Center For The Arts, is located in Cornelius, NC. The organization was established in 2017. 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 06/2024, Cain Center For The Arts employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cain 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 06/2024, Cain Center For The Arts generated $3.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 59.8% each year . All expenses for the organization totaled $3.0m during the year ending 06/2024. While expenses have increased by 60.2% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
CAIN CENTER FOR THE ARTS' MISSION IS TO PROVIDE EXCEPTIONAL VISUAL ARTS, PERFORMING ARTS, AND SOCIAL EXPERIENCES TO THE LAKE NORMAN REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING FISCAL YEAR 2024, CAIN CENTER FOR THE ARTS CURATED 47 PRODUCTIONS AND HOSTED 17 PRODUCTIONS FOR OTHER ORGANIZATIONS. MORE THAN 18,400 PATRONS ATTENDED THESE SHOWS. TEN EXHIBITS WERE HELD SHOWCASING LOCAL AND REGIONAL ARTISTS OF ALL AGES. CAIN CENTER'S EDUCATION DEPARTMENT OVERSAW SIXTY-SEVEN CLASSES SERVING APPROXIMATELY 600 STUDENTS IN VARIOUS DISCIPLINES SUCH AS CERAMICS, PAINTING, SEWING, MIXED MEDIA, AND BALLET. WITH THE SUPPORT OF DONORS, THE COMMUNITY IMPACT FUND PROVIDED MORE THAN 175 AFFORDABLE TICKETS, 48 SUMMER CAMP SCHOLARSHIPS, AND 23 YEAR-LONG MUSIC LESSONS. IN COLLABORATION WITH FIVE COMMUNITY PARTNERS, CAIN CENTER PARTICIPATED IN MORE THAN SEVEN "ARTS IN COMMUNITY AND FOUR "ARTS IN SCHOOLS" PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Newton President | OfficerTrustee | 4 | $0 |
Jean Bock Vice President | OfficerTrustee | 4 | $0 |
Douglas Marion Treasurer | OfficerTrustee | 4 | $0 |
Cynthia Bush Secretary | OfficerTrustee | 4 | $0 |
Greg Wessling Board Of Directors | Trustee | 2 | $0 |
Pat Bechdol Board Of Directors | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $37,484 |
| Related organizations | $0 |
| Government grants | $487,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,510,390 |
| Noncash contributions included in lines 1a–1f | $57,525 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,034,874 |
| Total Program Service Revenue | $1,201,190 |
| Investment income | $165,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $11,788 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,417,708 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $40,927 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $174,001 |
| Compensation of current officers, directors, key employees. | $52,142 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $589,545 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,941 |
| Payroll taxes | $62,164 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $96,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $599,378 |
| Advertising and promotion | $91,403 |
| Office expenses | $158,006 |
| Information technology | $40,013 |
| Royalties | $6,494 |
| Occupancy | $96,496 |
| Travel | $33,359 |
| 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 | $720,569 |
| Insurance | $34,300 |
| All other expenses | $69,273 |
| Total functional expenses | $3,034,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $808,802 |
| Savings and temporary cash investments | $3,157,750 |
| Pledges and grants receivable | $249,241 |
| Accounts receivable, net | $1,951 |
| 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 | $10,273 |
| Net Land, buildings, and equipment | $20,896,375 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $534,489 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,705 |
| Total assets | $25,660,586 |
| Accounts payable and accrued expenses | $104,770 |
| Grants payable | $0 |
| Deferred revenue | $127,260 |
| 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 | $7,783 |
| Total liabilities | $239,813 |
| Net assets without donor restrictions | $22,797,834 |
| Net assets with donor restrictions | $2,622,939 |
| 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 | $25,660,586 |