The Virginia Arts Festival Inc
- Assets
- $42.2m
- Revenue
- $13.8m
- Investments
- $0.0
- Employees
- 52
- Location
- Norfolk, VA
- Founding
- 02/1996
- Data as of
- 06/2022
- EIN
- 54-1786140
Organization Overview
The Virginia Arts Festival Inc is located in Norfolk, VA. The organization was established in 1996. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Virginia Arts Festival Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Arts Festival 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 06/2022, Virginia Arts Festival Inc generated $13.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $10.2m during the year ending 06/2022. While expenses have increased by 3.7% 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
TO PRESENT CULTURAL AND EDUCATIONAL ACTIVITIES THROUGHOUT THE GREATER HAMPTON ROADS REGION OF VIRGINIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE PERIOD OF JULY 1, 2021 THROUGH JUNE 19, 2022, THE VIRGINIA ARTS FESTIVAL PRODUCED 101 EVENTS: 71 TICKETED PERFORMANCES, AND 30 FREE EVENTS. THERE WERE MORE THAN 74,843 PATRONS ATTENDING WITH VISITORS FROM 23 STATES AND WASHINGTON, D.C. THERE WERE 5 SOLD OUT PERFORMANCES . THE EDUCATION DEPARTMENT HAD 85 EVENTS (COMPRISED OF ZOOM MASTERCLASSES & TALK-BACKS, OPEN DRESS REHERSALS, AND 'AT-SCHOOL' EVENTS), WITH LOCAL STUDENT PARTICIPATION OF 9,604 AND VIRTUAL MATERIALS MADE AVAILABLE TO 83,717 STUDENTS TOTAL IN 213 SCHOOLS FROM 7 CITIES/DISTRICTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert W Cross Executive Director | Officer | 40 | $329,798 |
J Scott Jackson General Manager | Officer | 40 | $267,626 |
Maurice A Jones Chair | OfficerTrustee | 0.25 | $0 |
Clay H Barr Board Member/trustee | Trustee | 0.25 | $0 |
Leslie E Doyle Board Member/trustee | Trustee | 0.25 | $0 |
Martha Goode Board Member/trustee | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ballet Theatre Foundation Artist Fees | 6/29/22 | $225,000 |
Brian Armacost Dba Tents Llc Perry Pavilion Tent | 6/29/22 | $1,032,984 |
Creekside Communication Printing | 6/29/22 | $292,609 |
Light Action Inc Lighting Of Events | 6/29/22 | $220,000 |
Opus 3 Artists Artist Fees | 6/29/22 | $181,363 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,463,173 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,908,730 |
| Noncash contributions included in lines 1a–1f | $3,258,641 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,371,903 |
| Total Program Service Revenue | $2,024,191 |
| Investment income | $488,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,000 |
| Net Gain/Loss on Asset Sales | -$102,950 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,814,301 |
| 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. | $329,799 |
| Compensation of current officers, directors, key employees. | $65,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,020,458 |
| Pension plan accruals and contributions | $45,672 |
| Other employee benefits | $211,529 |
| Payroll taxes | $156,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $427,144 |
| Office expenses | $188,147 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $178,974 |
| Travel | $641,272 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,081 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $297,205 |
| Insurance | $83,425 |
| All other expenses | $920,933 |
| Total functional expenses | $10,182,316 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,745,661 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,127,864 |
| Accounts receivable, net | $405,630 |
| 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 | $130,912 |
| Net Land, buildings, and equipment | $7,570,794 |
| Investments—publicly traded securities | $23,841,311 |
| Investments—other securities | $0 |
| Investments—program-related | $1,357,875 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $42,180,047 |
| Accounts payable and accrued expenses | $1,083,701 |
| Grants payable | $0 |
| Deferred revenue | $76,399 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,160,100 |
| Net assets without donor restrictions | $11,888,970 |
| Net assets with donor restrictions | $29,130,977 |
| 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 | $42,180,047 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that The Virginia Arts Festival Inc has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Fannie Milton And Leslie Friedman Family Foundation Norfolk, VA PURPOSE: SUPPORT THE ARTS THROUGH THE GENERATION OF CULTURAL TOURISM | $50,000 |
Endowment Analysis
| Beg. Balance | $21,250,569 |
| Earnings | -$2,905,633 |
| Net Contributions | $2,385,179 |
| Other Expense | $69,680 |
| Ending Balance | $20,660,435 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Virginia Arts Festival Inc Norfolk, VA | $42,180,047 | $13,814,301 |
National Business Officers Association Inc Washington, DC | $10,181,383 | $5,458,138 |
The Museum Of Language Arts Incorporated Washington, DC | $22,277,823 | $2,812,502 |
American Council Of Trustees And Alumni Washington, DC | $7,091,133 | $4,080,282 |
National Academy Of Education Washington, DC | $13,224,387 | $700,923 |
Mission West Virginia Hurricane, WV | $896,692 | $3,486,347 |
The Memorial Foundation Washington, DC | $1,841,102 | $3,723,853 |
Downtown Columbia Arts And Culture Commission Inc Columbia, MD | $56,227,844 | $6,192,561 |
Chorus America Association Washington, DC | $2,563,365 | $1,205,440 |
International Critical Incident Stress Foundation Inc Ellicott City, MD | $1,604,340 | $2,401,353 |
American Association Of People With Disabilities Washington, DC | $6,573,327 | $4,673,806 |
Due Process Of Law Foundation Washington, DC | $1,656,408 | $2,339,896 |