Regional Transit Authority Art
- Assets
- $6.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 79
- Location
- Spencer, IA
- Founding
- 06/1980
- Data as of
- 06/2023
- EIN
- 42-1133312
Organization Overview
Regional Transit Authority Art is located in Spencer, IA. The organization was established in 1980. According to its NTEE Classification (W40) the organization is classified as: Public Transportation Systems, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2023, Regional Transit Authority Art employed 79 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Transit Authority Art 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 06/2023, Regional Transit Authority Art generated $3.3m 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 (7.0%) each year. All expenses for the organization totaled $3.9m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES TRANSPORTATION SERVICES TO THE PUBLIC IN NINE IOWA COUNTIES THROUGH ASSISTANCE OF FEDERAL, STATE, AND LOCAL FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES TRANSPORATION SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hugh Lively Executive Di | Officer | 40 | $124,613 |
Dan Altena Board Member | Trustee | 0.25 | $0 |
Barry Anderson Board Member | Trustee | 0.25 | $0 |
Doug Vanden Bosch Board Member | Trustee | 0.25 | $0 |
Roger Faulstick Secretary/tr | OfficerTrustee | 0.25 | $0 |
Dan Friedrichsen Board Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,187,673 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,187,673 |
| Total Program Service Revenue | $1,062,772 |
| Investment income | $37,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,287,720 |
| 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. | $124,613 |
| Compensation of current officers, directors, key employees. | $124,613 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,404,655 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $388,527 |
| Payroll taxes | $128,313 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,997 |
| Office expenses | $27,941 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $103,284 |
| Travel | $18,859 |
| 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 | $699,973 |
| Insurance | $367,709 |
| All other expenses | $107,071 |
| Total functional expenses | $3,930,645 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,076,895 |
| Pledges and grants receivable | $96,076 |
| Accounts receivable, net | $97,004 |
| 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 | $5,634 |
| Net Land, buildings, and equipment | $3,544,689 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,009 |
| Total assets | $6,822,307 |
| Accounts payable and accrued expenses | $174,221 |
| 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 | $0 |
| Total liabilities | $174,221 |
| Net assets without donor restrictions | $5,600,730 |
| Net assets with donor restrictions | $1,047,356 |
| 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 | $6,822,307 |