The Virginia Arts Festival Inc
- Assets
- $46.3m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 76
- Location
- Norfolk, VA
- Founding
- 02/1996
- Data as of
- 06/2023
- 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 06/2023, Virginia Arts Festival Inc employed 76 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 06/2023, Virginia Arts Festival Inc generated $12.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $10.7m during the year ending 06/2023. While expenses have increased by 3.8% per year over the past 8 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
2023
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, 2022 THROUGH JUNE 18, 2023, THE VIRGINIA ARTS FESTIVAL PRODUCED 93 EVENTS: 77 TICKETED PERFORMANCES, AND 16 FREE EVENTS. THERE WERE MORE THAN 76,143 PATRONS ATTENDING WITH VISITORS FROM 48 STATES AND WASHINGTON, D.C.. AND 8 INTERNATIONAL COUNTRIES. THERE WERE 22 SOLD OUT PERFORMANCES . THE EDUCATION DEPARTMENT HAD 127 EVENTS (COMPRISED OF MASTERCLASSES, OPEN DRESS REHERSALS, PERFORMANCES, AND 'AT-SCHOOL' EVENTS), WITH LOCAL STUDENT PARTICIPATION OF 30,140, FROM 21 CITY/DISTRICTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert W Cross Executive Director | Officer | 40 | $396,805 |
J Scott Jackson General Manager | Officer | 40 | $212,212 |
Maxine Humphrey Adams Board Member/trustee | Trustee | 0.25 | $0 |
Clay H Barr Board Member/trustee | Trustee | 0.25 | $0 |
Aimee C Batten Board Member/trustee | Trustee | 0.25 | $0 |
Robert M Boyd Board Member/trustee | Trustee | 0.25 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alvin Ailey Dance Foundation Artist/dancers | 6/29/23 | $320,000 |
Creekside Communication Printing&duplicating | 6/29/23 | $284,982 |
Light Action Inc Lighting Of Events | 6/29/23 | $255,000 |
Virginia Symphony Orchestra Artists /Musicians | 6/29/23 | $284,646 |
Brian Armacosttents Llc Perry Pavilion Tent | 6/29/23 | $246,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,880,316 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,483,166 |
| Noncash contributions included in lines 1a–1f | $2,050,908 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,363,482 |
| Total Program Service Revenue | $2,430,516 |
| Investment income | $694,758 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,640 |
| Net Gain/Loss on Asset Sales | -$215,098 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,308,747 |
| 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. | $662,889 |
| Compensation of current officers, directors, key employees. | $132,578 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,113,707 |
| Pension plan accruals and contributions | $47,855 |
| Other employee benefits | $249,045 |
| Payroll taxes | $188,851 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $64,667 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $436,551 |
| Office expenses | $163,036 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $241,805 |
| Travel | $725,744 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,615 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $359,757 |
| Insurance | $130,959 |
| All other expenses | $977,972 |
| Total functional expenses | $10,657,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,887,415 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,896,691 |
| Accounts receivable, net | $141,320 |
| 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 | $323,993 |
| Net Land, buildings, and equipment | $7,481,612 |
| Investments—publicly traded securities | $29,219,919 |
| Investments—other securities | $0 |
| Investments—program-related | $1,287,905 |
| Intangible assets | $0 |
| Other assets | $35,765 |
| Total assets | $46,274,620 |
| Accounts payable and accrued expenses | $1,483,088 |
| Grants payable | $0 |
| Deferred revenue | $104,388 |
| 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 | $35,765 |
| Total liabilities | $1,623,241 |
| Net assets without donor restrictions | $11,661,648 |
| Net assets with donor restrictions | $32,989,731 |
| 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 | $46,274,620 |