Title Art Center
- Assets
- $2.8m
- Revenue
- $751.1k
- Investments
- $2.3m
- Employees
- 0
- Location
- Torrance, CA
- Founding
- 03/2015
- Data as of
- 12/2023
- EIN
- 47-2574249
Organization Overview
Title Art Center is located in Torrance, CA. The organization was established in 2015. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Title Art Center 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 12/2023, Title Art Center generated $751.1k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $150.4k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDING FOR NONPROFITS WHO PROMOTE THE ARTS IN LOCAL COMMUNITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce O Title CEO | 2 | $0 | |
Lisa Warnstedt Secretary | 2 | $0 | |
Jesse Powell CFO | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $748,128 |
| Interest on Savings | $12,120 |
| Dividends & Interest | $47,425 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$63,296 |
| Capital Gain Net Income | $4,006 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,726 |
| Total Revenue | $751,103 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,424 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $38,390 |
| Total operating and administrative expenses | $39,814 |
| Contributions, gifts, grants paid | $110,635 |
| Total expenses and disbursements | $150,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,489 |
| Savings and temporary cash investments | $71,760 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $397,209 |
| Total assets | $2,808,222 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Title Art Center has awarded $110,635 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
OLD TOWN ARTISAN STUDIO PURPOSE: CHARITABLE DONATION | $33,635 |
SAINT JOSEPH HIGH SCHOOL PURPOSE: CHARITABLE DONATION | $5,000 |
QUARRY EMPLOYEE SCHOLARSHIP FUND PURPOSE: CHARITABLE DONATION | $2,000 |
EISENHOWER MEDICAL CENTER PURPOSE: CHARITABLE DONATION | $50,000 |
CALIFORNIA ART CLUB PURPOSE: CHARITABLE DONATION | $20,000 |