Degrazia Art & Cultural Foundation Inc
- Assets
- $21.6m
- Revenue
- $3.1m
- Investments
- $7.1m
- Employees
- 0
- Location
- Tucson, AZ
- Founding
- 02/1979
- Data as of
- 06/2023
- EIN
- 86-0339837
Organization Overview
Degrazia Art & Cultural Foundation Inc is located in Tucson, AZ. The organization was established in 1979. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Degrazia Art & Cultural Foundation 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 06/2023, Degrazia Art & Cultural Foundation Inc generated $3.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 31.9% each year . All expenses for the organization totaled $1.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DEGRAZIA FOUNDATION OPERATES AN ART MUSEUM AT GALLERY IN THE SUN IN TUCSON, ARIZONA. THERE ARE SIX PERMANENT COLLECTIONS OF PAINTINGS THAT TRACE HISTORICAL EVENTS AND NATIVE CULTURES OF THE SOUTHWEST. ROTATING EXHIBITIONS DISPLAY SOME OF THE 15,000 DEGRAZIA ORIGINALS HOUSED AT THE GALLERY, INCLUDING OILS, WATERCOLORS, SKETCHES, SERIGRAPHS, LITHOGRAPHS, SCULPTURES, CERAMICS AND JEWELRY. A CONSIGNMENT ROOM DISPLAYS DEGRAZIA ORIGINALS AVAILABLE FOR PURCHASE, WHILE THE GIFT SHOP OFFERS A WIDE SELECTION OF REPRODUCTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lance Laber Executive Director | 40 | $112,200 | |
Mark Cowley President/treasurer | 1 | $4,000 | |
Domingo Degrazia Secretary | 1 | $1,000 | |
Joseph Wilder Member | 1 | $4,000 | |
Robert Vint Member | 1 | $2,000 | |
Ralph Pattison Vice-President | 1 | $4,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $199,853 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $2,453,825 |
| Capital Gain Net Income | $2,453,825 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $405,954 |
| Other Income | $12,319 |
| Total Revenue | $3,071,951 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $146,150 |
| Other employee salaries and wages | $314,649 |
| Pension plans, employee benefits | $18,046 |
| Interest | $148 |
| Taxes | $35,968 |
| Depreciation | $25,352 |
| Occupancy | $26,361 |
| Travel, conferences, and meetings | $2,896 |
| Printing and publications | $0 |
| Other expenses | $320,136 |
| Total operating and administrative expenses | $986,400 |
| Contributions, gifts, grants paid | $21,414 |
| Total expenses and disbursements | $1,007,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,119 |
| Savings and temporary cash investments | $1,339,223 |
| Net Accounts receivable | $11 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $694,726 |
| Prepaid expenses and deferred charges | $6,220 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $669,815 |
| Net Land, buildings, and equipment | $2,313,858 |
| Other assets | $10,127,271 |
| Total assets | $21,606,156 |
| Accounts payable and accrued expenses | $15,788 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $40,765 |
| Total liabilities | $56,553 |
Grants Awarded
Over the last fiscal year, Degrazia Art & Cultural Foundation Inc has awarded $28,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARIZONA PUBLIC MEDIA PURPOSE: UNRESTRICTED GENERAL OPERATING | $25,800 |
TUCSON ARIZONA BOYS CHORUS PURPOSE: UNRESTRICTED GENERAL OPERATING | $2,500 |