International Violin Competition Of Indianapolis Inc
- Assets
- $1.8m
- Revenue
- $819.7k
- Investments
- $0.0
- Employees
- 4
- Location
- Indianapolis, IN
- Founding
- 01/1972
- Data as of
- 07/2021
- EIN
- 23-7139746
Organization Overview
International Violin Competition Of Indianapolis Inc, operating under the name International Violin Competition Of, is located in Indianapolis, IN. The organization was established in 1972. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2021, International Violin Competition Of employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Violin Competition Of 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 07/2021, International Violin Competition Of generated $819.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.3%) each year. All expenses for the organization totaled $768.2k during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (10.5%) per year over the past 6 years. 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
UTILIZES ITS WORLD PROMINENCE TO BRING INTERNATIONAL ATTENTION TO INDIANAPOLIS, AND MAINTAINS ITS EFFORTS TO BE A VISIBLE AND COLLABORATIVE MEMBER OF THE ARTS COMMUNITIES IN INDIANAPOLIS AND INDIANA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INTERNATIONAL VIOLIN COMPETITION OF INDIANAPOLIS FULFILLS ITS MISSION BY SPONSORING AND PRODUCING ONE OF THE WORLD'S LEADING VIOLIN COMPETITIONS ON A QUADRENNIAL BASIS, AND EDUCATION AND PUBLIC OUTREACH PROGRAMS.
THE IVCI LAUREATE SERIES FEATURES PAST PRIZE WINNERS AND GUESTS IN RECITAL AND IN CONCERT WITH AREA ENSEMBLES BRINGING THE EXCITEMENT OF THE COMPETITION BACK TO INDIANA ANNUALLY (SERVING APPROX. 2000 PEOPLE).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Glen Kwok Executive Di | Officer | 60 | $143,270 |
Mary Jane Sorbera Dir. Of Deve | 40 | $107,888 | |
Kurt Tornquist Treasurer | OfficerTrustee | 1 | $0 |
Donna Reynolds President | OfficerTrustee | 1 | $0 |
Dawn Bennett Board Member | Trustee | 1 | $0 |
Rebecca Dixon Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $44,950 |
| Related organizations | $0 |
| Government grants | $112,784 |
| All other contributions, gifts, grants, and similar amounts not included above | $537,119 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $694,853 |
| Total Program Service Revenue | $27,223 |
| Investment income | $12,750 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $84,878 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $819,704 |
| 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. | $165,461 |
| Compensation of current officers, directors, key employees. | $33,092 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $282,317 |
| Pension plan accruals and contributions | $15,498 |
| Other employee benefits | $21,248 |
| Payroll taxes | $30,560 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,094 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,763 |
| Advertising and promotion | $47,809 |
| Office expenses | $40,819 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,022 |
| Travel | $997 |
| 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 | $2,445 |
| Insurance | $12,459 |
| All other expenses | $1,344 |
| Total functional expenses | $768,191 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $237,873 |
| Savings and temporary cash investments | $1,355,870 |
| Pledges and grants receivable | $164,876 |
| 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 | $29,103 |
| Net Land, buildings, and equipment | $3,587 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,771 |
| Total assets | $1,812,080 |
| Accounts payable and accrued expenses | $8,050 |
| 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 | $84,890 |
| Other liabilities | $0 |
| Total liabilities | $92,940 |
| Net assets without donor restrictions | $235,240 |
| Net assets with donor restrictions | $1,483,900 |
| 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 | $1,812,080 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that International Violin Competition Of Indianapolis Inc has recieved totaling $251,393.
| Awarding Organization | Amount |
|---|---|
Matthews Family Foundation Cleveland, OH PURPOSE: GENERAL | $150,000 |
Christel Dehaan Family Foundation Inc Indianapolis, IN PURPOSE: GENERAL OPERATING SUPPORT | $60,000 |
Central Indiana Community Foundation Inc Indianapolis, IN PURPOSE: 11th Quadrennial Competition | $19,900 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $18,450 |
Nicholas H Noyes Jr Memorial Foundation Inc Carmel, IN PURPOSE: ANNUAL SUPPORT | $3,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $43 |
Endowment Analysis
| Beg. Balance | $12,316,067 |
| Earnings | $1,783,657 |
| Admin Expense | $59,768 |
| Other Expense | $24,395 |
| Ending Balance | $14,015,561 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ravinia Festival Association Highland Park, IL | $230,171,878 | $43,242,885 |
Cave Hill Investment Company Louisville, KY | $206,891,533 | $9,697,721 |
Irish Festivals Inc Wauwatosa, WI | $3,948,548 | $3,527,102 |
Artists In Motion Inc Indianapolis, IN | $1,277,049 | $1,242,334 |
Thelma Sadoff Center For The Arts Inc Fond Du Lac, WI | $5,501,310 | $863,155 |
Hoogland Center For The Arts Inc Springfield, IL | $6,969,049 | $1,022,079 |
Kuumba Lynx Chicago, IL | $1,227,292 | $991,440 |
International Violin Competition Of Indianapolis Inc Indianapolis, IN | $1,812,080 | $819,704 |
Natya Dance Theatre Oakbrook, IL | $1,497,460 | $845,551 |
Tobacco Road Incorporated Chicago, IL | $6,766,640 | $242,517 |
Circus Flora Inc Saint Louis, MO | $192,585 | $837,921 |
Indiana Ballet Conservatory Inc Carmel, IN | $193,640 | $651,465 |