Chincoteague Island Arts Organization Inc

Organization Overview

Chincoteague Island Arts Organization Inc is located in Chincoteague Island, VA. The organization was established in 2012. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Chincoteague Island Arts Organization Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chincoteague Island Arts Organization 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 12/2021, Chincoteague Island Arts Organization Inc generated $118.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.6%) each year. All expenses for the organization totaled $78.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO ESTABLISH A CULTURAL ARTS CENTER ON CHINCOTEAGUE ISLAND, VA TO SHARE FILM, PERFORMING ARTS, EDUCATION PROGRAMS, AND OTHER ENTERTAINMENT WITH OUR COMMUNITY AND VISTORS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO ESTABLISH A CULTURAL ARTS CENTER ON CHINCOTEAGUE ISLAND, VA TO SHARE FILM, PERFORMING ARTS, EDUCATION PROGRAMS, AND OTHER ENTERTAINMENT WITH OUR COMMMUNITY AND VISITORS.


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Board, Officers & Key Employees

Name (title)Compensation
William Borges
Treasurer
$0
Jane Peake
Chairman
$0
Jean Knight
Director
$0
Thom Nolan
Director
$0
Vivian Cavalieri
Director
$0
Judy Tye
Director
$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$60,007
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$60,007
Total Program Service Revenue$24,685
Investment income $36,984
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$3,677
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 $117,999

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Chincoteague Island Arts Organization Inc has recieved totaling $15,148.

Awarding OrganizationAmount
Hampton Roads Community Foundation

Norfolk, VA

PURPOSE: TO BUY OUT EQUIPMENT FROM CHINCOTEAGUE CINEMA

$15,000
Barry S And Evelyn M Strauch Foundation Inc

Mclean, VA

PURPOSE: TO FUND ORGANIZATION'S PROGRAMS - UNDESIGNATED GIFTS

$100
Amazonsmile Foundation

Seattle, WA

PURPOSE: GENERAL SUPPORT

$48
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$106,133
Earnings$36,968
Admin Expense$618
Ending Balance$142,483

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