Riffraff Arts Collective Inc
- Assets
- $711.1k
- Revenue
- $497.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Princeton, WV
- Founding
- 07/2019
- Data as of
- 12/2022
- EIN
- 83-4471579
Organization Overview
Riffraff Arts Collective Inc is located in Princeton, WV. The organization was established in 2019. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Riffraff Arts Collective 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 12/2022, Riffraff Arts Collective Inc generated $497.3k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 14.2% each year . All expenses for the organization totaled $429.2k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
RIFFRAFF ARTS COLLECTIVE INSPIRES, EMPOWERS AND PROMOTES THE ARTS AND CREATIVITY IN DOWNTOWN PRINCETON, SOUTH WV, AND THE APPALACHIAN REGION. RRAC ENABLES CREATIVE GROWTH BY PROVIDING SPACE, TOOLS AND RESOURCES TO ARTISTS OF ALL TYPES INCLUDING BUT NOT LIMITED TO VISUAL, PERFORMING, LITERARY AND HEALING ARTISTS, SMALL BUSINESS OWNERS AND CREATIVE PEOPLE OF ALL AGES. RRAC OPENS THE DOORS TO CREATIVE COMMUNITY TRANSFORMATION BY CONNECTING ARTISTS WITH LOCAL GOVERNMENT, CHAMBERS OF COMMERCE, THE BUSINESS COMMUNITY AND COMMUNITY AT LARGE, AND DEPLOYS CREATIVE ACTION FROM WITH THE SPACE IT OCCUPIES TO THE WORLD AROUND IT. RRAC ENABLES EDUCATIONAL OPPORTUNITIES FOR CREATIVE PEOPLE OF ALL AGES, WITHA PARTICULAR EMPHASIS ON YOUTH. RRAC BELIEVES IN THE POWER AND ABILITY OF MUSIC AND THE ARTS TO PROMOTE GROWTH AND TRANSFORMATION, BOTH PERSONALLY AND EXTERNALLY, AND SEEKS TO PROMOTE CHANGE AND ULTIMATELY, POSITIVE TRANSFORMATION OF PEOPLE, SPACES, AND PLACES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INSPIRATION, GUIDANCE, TOOLS AND MENTORSHIP TO COMMUNITIES THROUGH CREATE YOUR STATE.
PROVIDED PROMOTION, TOOLS AND RESOURCES TO ARTISTS AND ENTREPRENEURS THROUGH CREATIVE MEDIA AND PROGRAM OUTREACH.
RAISED QUALITY OF LIFE AND PROVIDED ACCESS TO ARTS PROGRAMMING FOR FAMILIES AND CITIZENS THROUGH REGULAR ARTS PROGRAMMING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Spellman President | OfficerTrustee | 1 | $0 |
Henry Jones Vice President | OfficerTrustee | 1 | $0 |
Dr Tim Mainland Secretary | OfficerTrustee | 1 | $0 |
Rick Burke Treasurer | OfficerTrustee | 1 | $0 |
Patty Graham Member | Trustee | 1 | $0 |
Lori Mckinney Executive Director | Officer | 40 | $52,405 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $82,550 |
| All other contributions, gifts, grants, and similar amounts not included above | $338,458 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $421,008 |
| Total Program Service Revenue | $72,574 |
| Investment income | $16 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $497,318 |
| 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. | $52,405 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,150 |
| Fees for services: Accounting | $1,141 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $203,938 |
| Advertising and promotion | $1,768 |
| Office expenses | $4,826 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $42,391 |
| Travel | $1,521 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,400 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,200 |
| Insurance | $5,457 |
| All other expenses | $0 |
| Total functional expenses | $429,215 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,585 |
| Savings and temporary cash investments | $52,794 |
| 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 | $480,572 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $167 |
| Other assets | $0 |
| Total assets | $711,118 |
| 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 | $300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $300,000 |
| Net assets without donor restrictions | $411,118 |
| Net assets with donor restrictions | $0 |
| 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 | $711,118 |