Mystic Art Association
- Assets
- $4.4m
- Revenue
- $1.8m
- Investments
- $45.6k
- Employees
- 27
- Location
- Mystic, CT
- Founding
- 08/1979
- Data as of
- 12/2021
- EIN
- 06-6000563
Organization Overview
Mystic Art Association is located in Mystic, CT. The organization was established in 1979. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Mystic Art Association employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mystic Art Association 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, Mystic Art Association generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MYSTIC ART ASSOCIATION IS AN EDUCATIONAL NON-PROFIT, NON-STOCK CORPORATION. ITS MISSION IS TO INSPIRE CREATIVITY AND CRITICAL DIALOGUE BY ENGAGING THE REGIONAL COMMUNITY IN UNDERSTANDING, APPRECIATION, AND PRACTICE OF VISUAL ART.
Describe the Organization's Program Activity:
PARKING LOT OPERATIONS - TO LESSEN THE BURDEN OF THE TOWN OF GROTON BY ALLOWING ITS PARKING FACILITIES TO BE USED TO SUPPORT COMMUNITY ACTIVITIES AND ECONOMIC DEVELOPMENT.
EDUCATION AND EDUCATION OUTREACH - COMING OUT OF COVID LOCK-DOWN, MMOA CONVERTED TO HYBRID PROGRAM DELIVERY, PROVIDING ONLINE ART PROJECTS AND LESSON PLANS, WHILE ALSO REOPENING ITS STUDIO CLASSES FOR ADULTS AND CHILDREN. THE ADDITION OF A NEW POSITION, DIRECT OF EDUCATION, PERMITS MMOA TO EXPAND ITS EDUCATIONAL OFFERINGS AND TIE THEM WITH THE EXHIBITIONS, SO THAT WE MAY PROVIDE GALLERY-BASED AS WELL AS STUDIO-BASED LEARNING EXPERIENCES. THE NEW POSITION ALSO ENABLED MMOA TO DEDICATE EXISTING STAFF MEMBERS TO OUTREACH PROGRAMS AND FIELD TRIPS FOR LOCAL SCHOOLS, PARKS AND RECREATION GROUPS, AND HOMESCHOOLERS. THE OUTREACH POSITION ALSO PROVIDES ENRICHMENT AND PROFESSIONAL DEVELOPMENT TRAINING FOR SCHOOL TEACHERS TO ENRICH AND DIVERSIFY THEIR CURRICULUM THROUGH ART PRACTICES.
EXHIBITIONS - THE MUSEUM ADAPTED TO THE ENVIRONMENT BY OFFERING BOTH VIRTUAL EXHIBITIONS TOURS AND INFORMATION ABOUT ARTISTS AND THEIR WORK, AND IN-PERSON EXHIBITION IN THE GALLERIES. A MAJOR REVIEW OF THE HISTORY OF THE MYSTIC ART COLONY WAS PRESENTED TO THE PUBLIC FROM JUNE TO SEPTEMBER, ENTITLED: "THE FOUNDERS: RECLAIMING MYSTIC'S ARTISTIC ROOTS." THE EXIBITION FEATURED MORE THAN 30 WORKS OF ART ON LOAN FROM PRIVATE COLLECTORS AS WELL AS HOLDINGS FROM THE MMOA PERMANENT COLLECTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Fisher Executive Dir. | Officer | 40 | $100,386 |
Elise Vonhousen Treasurer | OfficerTrustee | 0.5 | $0 |
Mary Anne Stets President | OfficerTrustee | 2 | $0 |
Patricia Kitchings Secretary | OfficerTrustee | 1 | $0 |
Cynthia Martin Vice President | OfficerTrustee | 1 | $0 |
Ann Marenakos Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,794 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $300,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $326,994 |
| Total Program Service Revenue | $1,186,183 |
| Investment income | $17,281 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$78,088 |
| Net Gain/Loss on Asset Sales | $251,439 |
| Net Income from Fundraising Events | $47,936 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,751,745 |
| 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. | $100,386 |
| Compensation of current officers, directors, key employees. | $42,162 |
| Compensation to disqualified persons | $349,392 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,070 |
| Payroll taxes | $33,838 |
| Fees for services: Management | $27,095 |
| Fees for services: Legal | $7,678 |
| Fees for services: Accounting | $6,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,617 |
| Advertising and promotion | $6,753 |
| Office expenses | $30,202 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,965 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $53 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $30,546 |
| Insurance | $18,250 |
| All other expenses | $27,874 |
| Total functional expenses | $1,003,460 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $931,472 |
| Savings and temporary cash investments | $235,968 |
| Pledges and grants receivable | $1,057 |
| 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 | $37,883 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $867,002 |
| Investments—publicly traded securities | $1,740,624 |
| Investments—other securities | $45,638 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $533,340 |
| Total assets | $4,392,984 |
| Accounts payable and accrued expenses | $336,277 |
| 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 | $8,836 |
| Total liabilities | $345,113 |
| Net assets without donor restrictions | $3,318,703 |
| Net assets with donor restrictions | $729,168 |
| 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 | $4,392,984 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mystic Art Association has recieved totaling $5,480.
| Awarding Organization | Amount |
|---|---|
Edward And Mary Lord Foundation North Franklin, CT PURPOSE: UNRESTRICTED GENERAL SUPPORT | $5,000 |
Pfizer Foundation Inc New York, NY PURPOSE: MATCHING GIFTS | $450 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $30 |
Endowment Analysis
| Beg. Balance | $921,393 |
| Earnings | $17,314 |
| Net Contributions | $714,959 |
| Other Expense | $44,869 |
| Ending Balance | $1,608,797 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Institute Of Contemporary Art Boston, MA | $121,321,339 | $26,427,567 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |
Wadsworth Atheneum Museum Of Art Hartford, CT | $165,426,651 | $15,147,902 |
Neue Galerie New York New York, NY | $114,494,920 | $18,242 |
Worcester Art Museum Worcester, MA | $148,643,203 | $30,005,812 |
International Center Of Photography New York, NY | $72,245,409 | $16,287,723 |
Doris Duke Foundation For Islamic Art New York, NY | $38,632,422 | $9,089,054 |
Storm King Art Center New Windsor, NY | $80,583,864 | $14,230,209 |
Fellowship For The Performing Arts Inc New York, NY | $15,555,732 | $10,766,818 |
Ps1 Contemporary Art Center Inc Long Island City, NY | $7,393,924 | $9,638,266 |