Cincinnati Institute Of Fine Arts
- Assets
- $143.7m
- Revenue
- $18.2m
- Investments
- $24.8m
- Employees
- 26
- Location
- Cincinnati, OH
- Founding
- 11/1951
- Data as of
- 08/2021
- EIN
- 31-0537138
Organization Overview
Cincinnati Institute Of Fine Arts, operating under the name Artswave, is located in Cincinnati, OH. The organization was established in 1951. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2021, Artswave employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Artswave 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 08/2021, Artswave generated $18.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $15.0m during the year ending 08/2021. While expenses have increased by 1.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Artswave has awarded 156 individual grants totaling $20,701,449. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
WITH FUNDING, SERVICES, AND ADVOCACY, ARTSWAVE FUELS A MORE VIBRANT ECONOMY AND CONNECTED COMMUNITY THROUGH THE ARTS.
Describe the Organization's Program Activity:
GRANTMAKING: MANAGEMENT OF ANNUAL COMMUNITY CAMPAIGN FOR THE ARTS TO PROVIDE THE RESOURCES USED TO MAKE DISTRIBUTIONS OF FINANCIAL GRANTS TO ORGANIZATIONS THROUGHOUT THE GREATER CINCINNATI REGION. THESE GRANTS HELP THEM CREATE A VITAL ARTS SCENE AND ALL THE COMMUNITY-WIDE BENEFITS THAT COME WITH IT, INCLUDING ECONOMIC VITALITY AND A GREATER SENSE OF CONNECTEDNESS FOR THE PEOPLE OF THE REGION. DISTRIBUTIONS SUPPORT A WIDE VARIETY OF ARTS AND CULTURE GROUPS THAT REFLECT AND BENEFIT THE COMMUNITY IN ALL ITS DIVERSITY.
MARKETING THE IMPACT OF THE ARTS: ORGANIZATION OF SEVERAL DAYS OF FREE SAMPLINGS OF VISUAL AND PERFORMING ARTS AT MULTIPLE VENUES ACROSS THE REGIONAL COMMUNITY. ORGANIZATION OF COMMUNITY ENGAGEMENT EVENTS THAT CONNECT PEOPLE THROUGH THE ARTS. DEVELOPMENT AND EXECUTION OF MARKETING AND PUBLIC RELATIONS STRATEGY THAT BUILDS BROAD SUPPORT FOR THE ARTS BY FOCUSING ON THE COMMUNITY IMPACT OF ARTS ORGANIZATIONS.
MEASURING IMPACT: COLLECTION OF DATA WHICH MEASURES THE IMPACT OF THE ARTS AS LOCAL ARTS ORGANIZATIONS CREATE ECONOMIC VITALITY, VIBRANT NEIGHBORHOODS, AND A MORE CONNECTED COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alecia Kintner President & CEO | Officer | 50 | $218,857 |
Lisa Wolter Vp, Comm. Campaign | 50 | $121,798 | |
Dennis Lyons Sr. Director It | 50 | $116,630 | |
Kathy Debrosse Vp, Marketing | 50 | $111,864 | |
Kate Kennedy COO | Officer | 50 | $103,024 |
Samantha Cribbet Vp, Finance | Officer | 50 | $96,028 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hale Justis Llc Rental Property | 8/30/21 | $109,991 |
Stratus Live Donor Database Management | 8/30/21 | $179,051 |
Cincinnati Business Courier Advertising | 8/30/21 | $101,065 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $314,082 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,887,654 |
| Noncash contributions included in lines 1a–1f | $167,349 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,201,736 |
| Total Program Service Revenue | $20,148 |
| Investment income | $1,302,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,747,919 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,167,716 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,664,118 |
| Grants and other assistance to domestic individuals. | $557,772 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $504,263 |
| Compensation of current officers, directors, key employees. | $170,919 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,312,435 |
| Pension plan accruals and contributions | $104,451 |
| Other employee benefits | $192,537 |
| Payroll taxes | $120,336 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,813 |
| Fees for services: Accounting | $23,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $134,134 |
| Fees for services: Other | $68,901 |
| Advertising and promotion | $235,688 |
| Office expenses | $111,259 |
| Information technology | $234,431 |
| Royalties | $0 |
| Occupancy | $155,437 |
| Travel | $1,727 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,955 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,806 |
| Insurance | $18,568 |
| All other expenses | $0 |
| Total functional expenses | $15,023,651 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,327,971 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,017,394 |
| 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 | $180,645 |
| Net Land, buildings, and equipment | $1,883 |
| Investments—publicly traded securities | $100,194,016 |
| Investments—other securities | $24,833,140 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,155,085 |
| Total assets | $143,710,134 |
| Accounts payable and accrued expenses | $335,737 |
| 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 | $66,257,898 |
| Total liabilities | $66,593,635 |
| Net assets without donor restrictions | $19,128,827 |
| Net assets with donor restrictions | $57,987,672 |
| 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 | $143,710,134 |
Grants Awarded
Over the last fiscal year, Cincinnati Institute Of Fine Arts has awarded $10,343,838 in support to 85 organizations.
| Grant Recipient | Amount |
|---|---|
Cincinnati, OH PURPOSE: Sustaining Impact Support | $2,503,927 |
Cincinnati, OH PURPOSE: Sustaining Impact Support | $1,350,000 |
Cincinnati, OH PURPOSE: Sustaining Impact Support | $1,145,100 |
Cincinnati, OH PURPOSE: Sustaining Impact Support | $796,500 |
CINCINNATI OPERA PURPOSE: Sustaining Impact Support | $738,900 |
Cincinnati, OH PURPOSE: Sustaining Impact Support | $341,091 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that Cincinnati Institute Of Fine Arts has recieved totaling $2,078,920.
| Awarding Organization | Amount |
|---|---|
Greater Cincinnati Foundation Cincinnati, OH PURPOSE: GENERAL PURPOSE | $1,203,085 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $140,288 |
St Elizabeth Medical Center Inc Edgewood, KY PURPOSE: Program Support | $113,500 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $105,274 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $105,274 |
Ge Foundation Norwalk, CT PURPOSE: MATCHING GIFTS | $68,783 |
Endowment Analysis
| Beg. Balance | $61,607,509 |
| Earnings | $15,230,707 |
| Admin Expense | $113,889 |
| Net Contributions | -$1,028,377 |
| Other Expense | $2,210,766 |
| Grants | $147,046 |
| Ending Balance | $73,338,138 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Cincinnati Institute Of Fine Arts Cincinnati, OH | $143,710,134 | $18,167,716 |
Fund For The Arts Inc Louisville, KY | $9,833,007 | $6,108,558 |
United Way Of Lancaster County Lancaster, PA | $8,532,432 | $6,314,775 |
Gretchen C Valade Endownment For The Arts Grosse Pointe Farms, MI | $243,795 | $701,832 |
Stranahan Theater Trust Toledo, OH | $8,657,063 | $1,825,495 |
Holland Community Aquatic Center Foundation Saugatuck, MI | $987,560 | $1,564,696 |
Philadelphia Cultural Fund Inc Philadelphia, PA | $194,550 | $1,278,314 |
Cultural Alliance Of York County York, PA | $3,774,226 | $1,373,230 |
Urban Sight Inc Perrysburg, OH | $141,593 | $884,230 |
Foundation For The Flint Cultural Center Flint, MI | $38,034,949 | $6,392,203 |
Playhouse Artists New Hope, PA | $80,520 | $752,591 |
Monument Legacy Inc Carmel, IN | $4,006,902 | $508,574 |