Art Business Incubator South Padre Island
- Assets
- $77.6k
- Revenue
- $153.6k
- Investments
- $0.0
- Employees
- 2
- Location
- South Padre Island, TX
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 83-4500026
Organization Overview
Art Business Incubator South Padre Island is located in South Padre Island, TX. The organization was established in 2019. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Art Business Incubator South Padre Island employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Art Business Incubator South Padre Island 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, Art Business Incubator South Padre Island generated $153.6k in total revenue. The organization has seen a slow decline revenue. Over the past 2 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $132.6k 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
THE CORPORATION IS ORGANIZED EXCLUSIVELY FOR EDUCATIONAL, CULTURAL, AND CHARITABLE PURPOSES RELATED TO THE PROMOTION OF AWARENESS, UNDERSTANDING AND APPRECIATION OF THE ARTS TO FACILITATE THE GROWTH OF SOUTH PADRE ISLAND INTO A REGIONAL ARTS DESTINATION BY (I) STRENGTHENING THE ROLE OF THE ARTS IN THE COMMUNITY AND LIVES OF CHILDREN AND YOUTH; (II) OPERATING FACILITIES TO CREATE AN ENVIRONMENT THAT NURTURES LOCAL ARTISTIC TALENT BY EDUCATING ARTISTS IN THE BUSINESS AND OTHER SKILLS NECESSARY TO MAKE THEIR ARTISTRY SELF-SUSTAINING; AND (III) ENRICHING THE LOCAL COMMUNITY THROUGH ART ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CORPORATION SEEKS TO ENHANCE SOUTH PADRE ISLAND'S ECONOMIC DEVELOPMENT BY TRAINING EMERGING ART ENTREPRENEURS AND SUPPORTING THEIR EFFORTS TO ESTABLISH SELF-SUSTAINING ART BUSINESSES ON THE ISLAND. IT ALSO WORKS TO ENRICH THE COMMUNITY BY PROMOTING AWARENESS, UNDERSTANDING AND APPRECIATION OF ALL THE FINE AND PERFORMING ARTS AVAILABLE IN THE COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joann Evans President | OfficerTrustee | 1 | $0 |
Lorenzo Galvan Vice President | OfficerTrustee | 1 | $0 |
Darla Lapeyre Secretary | OfficerTrustee | 1 | $0 |
Roxanne Ray Treasurer | OfficerTrustee | 1 | $0 |
Karla Scimeca Director | Trustee | 1 | $0 |
Alexa Ray Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,161 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,161 |
| Total Program Service Revenue | $21,540 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $42,724 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $153,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $27,087 |
| 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 | $38,933 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,271 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,142 |
| Office expenses | $6,473 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,817 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,498 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,082 |
| All other expenses | $4,759 |
| Total functional expenses | $132,568 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $77,038 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $528 |
| Total assets | $77,566 |
| Accounts payable and accrued expenses | $899 |
| 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 | $0 |
| Total liabilities | $899 |
| Net assets without donor restrictions | $0 |
| 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 | $76,667 |
| Total liabilities and net assets/fund balances | $77,566 |