Rhode Island Watercolor Society
- Assets
- $328.5k
- Revenue
- $123.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Pawtucket, RI
- Founding
- 04/1974
- Data as of
- 12/2021
- EIN
- 05-6010909
Organization Overview
Rhode Island Watercolor Society is located in Pawtucket, RI. The organization was established in 1974. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Rhode Island Watercolor Society 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 12/2021, Rhode Island Watercolor Society generated $123.4k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $83.5k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE SOCIETY IS TO PROMOTE THE ARTS THROUGH ART EXHIBITS, AWARDS, ART CLASSES, AND DEMONSTRATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RHODE ISLAND WATER COLOR SOCIETY CONTINUES TO PROMOTE THE ARTS THROUGH HOSTING ART EXHIBITS, PROVIDING AWARDS, ART CLASSES, AND DEMONSTRATIONS. THE SOCIETY WORKS HARD TO CONTINUE TO PROMOTE THE ARTS IN HISTORIC VILLAGE OF SLATER MILL, PAWTUCKET, RHODE ISLAND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen O'hara Executive Director | Officer | 32 | $24,768 |
Leslie Godfrey Vice President | OfficerTrustee | 1 | $0 |
Jackie Habig President | OfficerTrustee | 1 | $0 |
Bernadette Pace Workshop Coordinator | OfficerTrustee | 1 | $0 |
Elinor Thompson Corresponding Secretary | OfficerTrustee | 1 | $0 |
Dennis Finlay Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $15,150 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,242 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,132 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $59,524 |
| Total Program Service Revenue | $35,661 |
| Investment income | $4,175 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,780 |
| Net Income from Fundraising Events | $3,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,816 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $123,350 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $25,101 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,380 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,692 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,666 |
| Fees for services: Other | $798 |
| Advertising and promotion | $0 |
| Office expenses | $8,583 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,565 |
| 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 | $6,686 |
| Insurance | $5,481 |
| All other expenses | $0 |
| Total functional expenses | $83,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,356 |
| 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 | $71,241 |
| Investments—publicly traded securities | $222,910 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $328,507 |
| Accounts payable and accrued expenses | $880 |
| Grants payable | $0 |
| Deferred revenue | $1,375 |
| 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 | $2,255 |
| Net assets without donor restrictions | $210,622 |
| Net assets with donor restrictions | $115,630 |
| 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 | $328,507 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Rhode Island Watercolor Society has recieved totaling $14,027.
| Awarding Organization | Amount |
|---|---|
The Champlin Foundation Pittsburgh, PA PURPOSE: CLASSROOM RENOVATIONS AND OUTDOOR CLASSROOM EQUIPMENT | $14,022 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Endowment Analysis
| Beg. Balance | $115,532 |
| Other Expense | $933 |
| Grants | $3,545 |
| Ending Balance | $111,054 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Williamstown Art Conservation Center Inc Williamstown, MA | $5,527,048 | $2,431,960 |
Waterfire Providence Providence, RI | $10,698,557 | $2,564,695 |
Mahaiwe Performing Arts Center Inc Great Barrington, MA | $10,112,279 | $3,283,746 |
Architectural Heritage Foundation Inc Brighton, MA | $30,137,143 | -$46,073 |
The Guilford Art Center Inc Guilford, CT | $2,451,386 | $1,170,235 |
Design Museum Foundation Inc Boston, MA | $348,197 | $567,255 |
Worcester Center For Crafts Inc Worcester, MA | $2,418,623 | $994,127 |
Spoke Art Inc Boston, MA | $249,161 | $827,516 |
Tri-State Center For The Arts Inc Sharon, CT | $2,560,245 | $2,275,778 |
Farmington Valley Arts Center Inc Avon, CT | $433,299 | $528,463 |
Concord Art Association Concord, MA | $2,607,234 | $664,341 |
The Society Of Arts And Crafts Dorchester, MA | $877,949 | $943,805 |