Milford Fine Arts Council Inc
- Assets
- $491.6k
- Revenue
- $265.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Milford, CT
- Founding
- 10/1974
- Data as of
- 06/2022
- EIN
- 23-7401211
Organization Overview
Milford Fine Arts Council Inc is located in Milford, CT. The organization was established in 1974. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Milford Fine Arts Council Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milford Fine Arts Council 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 06/2022, Milford Fine Arts Council Inc generated $265.1k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $304.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (2.2%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MILFORD ARTS COUNCIL SHALL SUPPORT AND FOSTER ARTISTIC, CULTURAL AND EDUCATIONAL OPPORTUNITIES FOR THE BENEFIT OF THE GREATER MILFORD COMMUNITY THROUGH THE CREATION OF ENVIRONMENTS AND PROGRAMS FOR ARTISTS TO WORK AND PRESENT; AS WELL AS ENCOURAGE THE PROMOTION, DEVELOPMENT, ACCEPTANCE AND APPRECIATION OF THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THEATRICAL PRODUCTIONS FOR THE GENERAL PUBLIC.
ARTISTIC PROGRAMS FOR THE GENERAL PUBLIC INCLUDING VISUAL ARTS AND CRAFTS.
MUSICAL CONCERTS FOR THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paige Miglio Executive Director | Officer | 30 | $47,273 |
Jacqueline Munk Chairperson | OfficerTrustee | 0.5 | $0 |
Joseph Mager III Vice Chairperson | OfficerTrustee | 0.5 | $0 |
Martha Bogucki Treasurer | OfficerTrustee | 0.5 | $0 |
Douglas Jones Past Chairperson | Trustee | 0.5 | $0 |
Mary Bayers Secretary | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $16,988 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $70,275 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,397 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $151,660 |
| Total Program Service Revenue | $142,314 |
| Investment income | $34 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $7,453 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $265,050 |
| 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. | $48,843 |
| Compensation of current officers, directors, key employees. | $12,211 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $89,063 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,936 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,428 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125 |
| Advertising and promotion | $6,653 |
| Office expenses | $5,197 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $20,492 |
| 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 | $10,331 |
| Insurance | $11,523 |
| All other expenses | $9,162 |
| Total functional expenses | $304,662 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,734 |
| Savings and temporary cash investments | $44,319 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,000 |
| 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 | $122,107 |
| Investments—publicly traded securities | $190,474 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $491,634 |
| Accounts payable and accrued expenses | $4,192 |
| Grants payable | $0 |
| Deferred revenue | $53,180 |
| 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 | $57,372 |
| Net assets without donor restrictions | $144,195 |
| Net assets with donor restrictions | $290,067 |
| 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 | $491,634 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Milford Fine Arts Council Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Allstate Foundation Northbrook, IL PURPOSE: AGENT - INDIVIDUAL HH GRANT | $500 |
Endowment Analysis
| Beg. Balance | $236,685 |
| Earnings | -$36,411 |
| Net Contributions | -$9,800 |
| Ending Balance | $190,474 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lower Manhattan Cultural Council Inc New York, NY | $12,296,474 | $4,161,213 |
Cny Arts Inc Syracuse, NY | $3,639,990 | $4,131,478 |
Artswestchester Inc White Plains, NY | $12,989,925 | $5,051,265 |
Brooklyn Arts Council Brooklyn, NY | $3,792,186 | $4,166,214 |
The Council For Canadian American Relations Inc New York, NY | $2,490,659 | $3,178,474 |
Spaceworks Nyc Inc New York, NY | $311,147 | $269,250 |
Bronx Council On The Arts Inc Bronx, NY | $7,969,070 | $2,295,657 |
Dance Service New York City Inc New York, NY | $6,304,489 | $5,030,876 |
Flushing Council On Culture And The Arts Inc Flushing, NY | $1,674,385 | $1,969,249 |
Greater Hartford Arts Council Incorporated Hartford, CT | $1,934,139 | $1,572,575 |
Rhode Island Council For The Humanities Providence, RI | $486,015 | $1,606,142 |
Queens Council On The Arts Inc Astoria, NY | $1,511,969 | $1,385,659 |