Virginia Foundation For American Arts
- Assets
- $1.7m
- Revenue
- $12.0k
- Investments
- $62.7k
- Employees
- 0
- Location
- Southern Shores, NC
- Founding
- 10/2017
- Data as of
- 12/2021
- EIN
- 47-3177394
Organization Overview
Virginia Foundation For American Arts is located in Southern Shores, NC. The organization was established in 2017. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Foundation For American Arts 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, Virginia Foundation For American Arts generated $12.0k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 30.9% each year .
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION OWNS TWO PIECES OF ART WHICH ARE LOANED TO MUSEUMS ACROSS THE UNITED STATES FOR PUBLIC VIEWING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy F Sykes Trustee | 1 | $0 | |
Elizabeth Logan Harris Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $10,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $1,960 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $3 |
| Capital Gain Net Income | $3 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $11,963 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $45 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $45 |
| Contributions, gifts, grants paid | $20,000 |
| Total expenses and disbursements | $20,045 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,485 |
| Savings and temporary cash investments | $0 |
| 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 | $1,635,000 |
| Total assets | $1,702,165 |
| 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 |
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