Mclean County Art Association
- Assets
- $2.6m
- Revenue
- $424.9k
- Investments
- $0.0
- Employees
- 7
- Location
- Bloomington, IL
- Founding
- 11/1948
- Data as of
- 08/2024
- EIN
- 37-6032342
Organization Overview
Mclean County Art Association is located in Bloomington, IL. The organization was established in 1948. 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 08/2024, Mclean County Art Association employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mclean County 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 08/2024, Mclean County Art Association generated $424.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $514.7k during the year ending 08/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE AND PROMOTE THE STUDY, CULTIVATION AND PRACTICE OF THE ARTS IN MCLEAN COUNTY, ILLINOIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART PROGRAMMING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Johnson Executive Di | Officer | 30 | $74,000 |
Dana Altenburger Director | Trustee | 1 | $0 |
Bruce Cather Director | Trustee | 1 | $0 |
Margaret Cordill Director | Trustee | 1 | $0 |
David Dow Director | Trustee | 1 | $0 |
Allyson Frink Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,660 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $27,250 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,609 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $108,519 |
| Total Program Service Revenue | $169,056 |
| Investment income | $68,357 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $78,041 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $424,947 |
| 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. | $74,000 |
| Compensation of current officers, directors, key employees. | $18,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $106,365 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,178 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $26,400 |
| Advertising and promotion | $7,975 |
| Office expenses | $28,606 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,792 |
| Travel | $3,480 |
| 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 | $15,986 |
| Insurance | $13,721 |
| All other expenses | $69,239 |
| Total functional expenses | $514,694 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,386 |
| Savings and temporary cash investments | $7,741 |
| 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 | $516,801 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000,706 |
| Total assets | $2,560,634 |
| Accounts payable and accrued expenses | $17,019 |
| Grants payable | $0 |
| Deferred revenue | $68,895 |
| 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 | $85,914 |
| Net assets without donor restrictions | $2,474,720 |
| Net assets with donor restrictions | $0 |
| 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 | $2,560,634 |