Solomon Valley Cinema Inc
- Assets
- $186.8k
- Revenue
- $128.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Beloit, KS
- Founding
- 04/1993
- Data as of
- 12/2021
- EIN
- 48-1127964
Organization Overview
Solomon Valley Cinema Inc is located in Beloit, KS. The organization was established in 1993. According to its NTEE Classification (A6C) the organization is classified as: Bands & Ensembles, 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. Solomon Valley Cinema 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, Solomon Valley Cinema Inc generated $128.7k 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 (4.8%) each year. All expenses for the organization totaled $130.5k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN THE CINEMA ARTS IN A SMALL COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CINEMA BEGAN WHEN COMMUNITY PEOPLE WANTED TO BUILD A THEATER IN BELOIT. THE MITCHELL COUNTY FOUNDATION WAS FORMED SO CONTRIBUTORS COULD MAKE A TAX FREE DONATION AND A BOARD OF FIVE WAS APPOINTED TO HEAD UP THE CINEMA PORJECT. MOST OF THE WORK ON THE THEATER WAS DONE BY DONATED LABOR. OVERALL THERE WERE CLOSE TO 200 VOLUNTEERS WHO HELPED BUILD THE BUILDING WITH MANY BELOIT BUSINESSES AND PEOPLE PLEDGING TIME, MONEY, AND MATERIALS. THE THEATER WAS INITIALLY RUN BY AREA VOULNTEERS AND THE BOARD MEMBERS. TWO PEOPLE A NIGHT WERE SCHEDULE TO RUN THE PROJECTORS AND SELL TICKERS AND CONCESSIONS. AS REVENUE INCREASED, THEY HIRED A MANAGER AND HIGH SCHOOL STUDENTS. IT'S WITH GREAT PRIDE THAT THROUGH THE YEARS THE CINEMA HAS CONTRIBUTED SOME OF ITS EXCESS REVENUE TO MITHCELL COUNTY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Paxson Vice President | Officer | 4 | $5,095 |
Vicki Jackson President | Officer | 6 | $0 |
Janet Moeller Secretary/treasurer | Officer | 5 | $0 |
Eric Dunstan Director | Trustee | 3 | $0 |
Kelly Peters Director | Trustee | 3 | $0 |
Terri Kelley Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $7 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $20,007 |
| Total Program Service Revenue | $67,249 |
| Investment income | $5 |
| 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 | $41,479 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $128,740 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,458 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,495 |
| Office expenses | $83 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $985 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,729 |
| Insurance | $5,462 |
| All other expenses | $39,301 |
| Total functional expenses | $130,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,029 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,100 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $143,651 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $186,780 |
| Accounts payable and accrued expenses | $67,324 |
| 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 | $16,861 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $84,185 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $102,595 |
| Total liabilities and net assets/fund balances | $186,780 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Solomon Valley Cinema Inc has recieved totaling $7.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $7 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trio Foundation St Louis, MO | $39,212,571 | $11,850,329 |
Ascend Performing Arts Inc Aurora, CO | $644,081 | $1,975,657 |
Still Water Foundation Durango, CO | $395,161 | $657,315 |
Merrymakers Association Omaha, NE | $714,243 | $420,761 |
National Honor Band Association Denver, CO | $243,574 | $303,937 |
Colorado Bandmasters Association Centennial, CO | $269,939 | $344,539 |
Omaha Area Youth Orchestra Inc Omaha, NE | $255,026 | $285,939 |
We Always Swing Inc Columbia, MO | $170,223 | $207,513 |
Denver Municipal Band Denver, CO | $602,419 | $197,232 |
Compton Heights Concert Band St Louis, MO | $237,248 | $38,684 |
Solomon Valley Cinema Inc Beloit, KS | $186,780 | $128,740 |
Rocky Mountain Ringers Inc Denver, CO | $20,416 | $0 |