Roanoke Cultural Endowment

Organization Overview

Roanoke Cultural Endowment is located in Roanoke, VA. The organization was established in 2015. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Roanoke Cultural Endowment 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, Roanoke Cultural Endowment generated $695.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $89.8k 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

THE ORGANIZATION'S MISSION IS TO CULTIVATE A LEGACY OF STABILITY, ENGAGEMENT, AND VITALITY FOR ARTS AND CULTURES IN THE CITY OF ROANOKE THROUGH GRANT MAKING. THROUGH A STRATEGIC PARTNERSHIP WITH THE CITY OF ROANOKE, THE ORGANIZATION WILL PROVIDE A SUSTAINABLE REVENUE SOURCE FOR ARTS AND CULTURAL ORGANIZATIONS IN THE CITY OF ROANOKE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE ORGANIZATION IS CURRENTLY RAISING FUNDS TO ACHIEVE ITS GOAL OF SECURING $20 MILLION IN FUNDING TO PROVIDE SUPPORT TO ARTS AND CULTURAL ORGANIZATIONS IN THE CITY OF ROANOKE.


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Board, Officers & Key Employees

Name (title)Compensation
Shaleen Powell
Executive Dir.
$40,000
J David Wine
President
$0
Lucas L Thornton
Treasurer
$0
Katherine Fralin Walker
Secretary
$0
Cheryl Mosley
Board Member
$0
Sarah Tune Doherty
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $183,333
All other contributions, gifts, grants, and similar amounts not included above$433,904
Noncash contributions included in lines 1a–1f $30,725
Total Revenue from Contributions, Gifts, Grants & Similar$617,237
Total Program Service Revenue$0
Investment income $52,897
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $25,586
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $695,720

Grants Recieved

Over the last fiscal year, we have identified 3 grants that Roanoke Cultural Endowment has recieved totaling $45,000.

Awarding OrganizationAmount
Schwab Charitable Fund

San Francisco, CA

PURPOSE: ARTS, CULTURE & HUMANITIES

$20,000
Farrell Foundation

Roanoke, VA

PURPOSE: CHARITABLE

$15,000
Powell Charitable Foundation

Roanoke, VA

PURPOSE: ARTS

$10,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$2,286,834
Earnings$376,940
Admin Expense$9,893
Net Contributions$512,123
Other Expense$60,000
Ending Balance$3,106,004

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