William King Museum Of Art
- Assets
- $3.9m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 26
- Location
- Abingdon, VA
- Founding
- 08/1992
- Data as of
- 06/2022
- EIN
- 54-1144120
Organization Overview
William King Museum Of Art is located in Abingdon, VA. The organization was established in 1992. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, William King Museum Of Art employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William King Museum Of Art 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 06/2022, William King Museum Of Art generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $1.3m during the year ending 06/2022. While expenses have increased by 4.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ART EXHIBITS AND EDUCATION TO SOUTHWEST VA & NORTHEAST TN
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EXHIBITS AND EDUCATION PROGRAMS FOR CHILDREN AND ADULTS OF THE REGION
ART EXHIBITS AND EDUCATION PROGRAMS FOR CHILDREN AND ADULTS OF THE REGION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betsy White Executive Di | Officer | 40 | $67,900 |
Brent Dyson Trustee | OfficerTrustee | 1 | $0 |
Richard Davidson Emeritus Tru | Trustee | 1 | $0 |
Ben Jennings Emeritus Tru | Trustee | 1 | $0 |
Mary Stuart Emeritus Tru | Trustee | 1 | $0 |
Joyce Kilgore Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $63,219 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $173,982 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,484,611 |
| Noncash contributions included in lines 1a–1f | $22,692 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,721,812 |
| Total Program Service Revenue | $134,275 |
| Investment income | $85 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $60,493 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,918,425 |
| 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 | $527,273 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $41,800 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $17,164 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,827 |
| Office expenses | $15,930 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $16,219 |
| Travel | $10,902 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,765 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $199,462 |
| Insurance | $36,215 |
| All other expenses | $108,993 |
| Total functional expenses | $1,287,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,128 |
| Savings and temporary cash investments | $327,124 |
| Pledges and grants receivable | $49,028 |
| Accounts receivable, net | $21,557 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,668 |
| Net Land, buildings, and equipment | $3,423,512 |
| Investments—publicly traded securities | $83,839 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,928,856 |
| Accounts payable and accrued expenses | $91,284 |
| Grants payable | $0 |
| Deferred revenue | $104,610 |
| 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 | $1,062,963 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,782 |
| Total liabilities | $1,265,639 |
| Net assets without donor restrictions | $2,205,437 |
| Net assets with donor restrictions | $457,780 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,928,856 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that William King Museum Of Art has recieved totaling $163,558.
| Awarding Organization | Amount |
|---|---|
Mary Morton Parsons Foundation Richmond, VA PURPOSE: PHASE II OF CULTURAL CAMPUS DEVELOPMENT PROJECT | $100,000 |
Frances R Dewing Foundation Med-26041 Boston, MA PURPOSE: LITTLE LAMBS FIBER ARTS | $18,958 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $12,600 |
B F Foundation Grundy, VA PURPOSE: EDUCATIONAL | $10,000 |
Food City Charitable Foundation Inc Abingdon, VA PURPOSE: SUPPORT THE MISSION OF THE CHARITY | $7,500 |
Food City Charitable Foundation Inc Abingdon, VA PURPOSE: SUPPORT THE MISSION OF THE CHARITY | $7,500 |
Endowment Analysis
| Beg. Balance | $91,088 |
| Earnings | -$7,249 |
| Ending Balance | $83,839 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Clay Center For The Arts & Sciences Of West Virginia Inc Charleston, WV | $104,991,627 | $9,740,232 |
Coalition To Salute Americas Heroes Foundation Leesburg, VA | $3,573,595 | $8,478,376 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
Baltimore Office Of Promotion And The Arts Baltimore, MD | $2,768,148 | $4,464,806 |
One Common Unity Inc Washington, DC | $667,542 | $2,484,423 |
Memphis Equity Through Arts Meta Incorporated Memphis, TN | $5,874,530 | $7,164,597 |
Sitar Arts Center Washington, DC | $12,189,332 | $3,951,154 |
Appalshop Inc Whitesburg, KY | $8,650,033 | $2,149,775 |
Memphis In May International Festival Inc Memphis, TN | $4,677,503 | $2,273,583 |
National Council For The Traditional Arts Silver Spring, MD | $1,116,811 | $2,051,101 |