Governors School For The Arts Fdn Inc
- Assets
- $7.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 5
- Location
- Greenville, SC
- Founding
- 11/1985
- Data as of
- 06/2020
- EIN
- 57-0794878
Organization Overview
Governors School For The Arts Fdn Inc is located in Greenville, SC. The organization was established in 1985. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2019, Governors School For The Arts Fdn Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Governors School For The Arts Fdn 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 06/2020, Governors School For The Arts Fdn Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
WE SERVE SOUTH CAROLINA'S ARTISTICALLY TALENTED STUDENTS BY INCREASING AWARENESS AND RAISING REVENUES TO ENSURE EXCELLENCE IN OUR NATION'S PREMIERE PUBLIC RESIDENTIAL HIGH SCHOOL FOR THE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS FOR FINANCIALLY NEEDY STUDENTS TO PARTICIPATE IN THE LIFE- TRANSFORMING OPPORTUNITIES AVAILABLE AT THE GOVERNOR'S SCHOOL, SUPPORT FOR THE SCHOOLS GUEST ARTIST PROGRAM, PROFESSIONAL DEVELOPMENT FOR FACULTY MEMBERS AND OTHER PROGRAM AND FACILITY NEEDS IDENTIFIED BY THE SCHOOL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rochelle Williams Executive Di | Officer | 40 | $0 |
Linda Hannon Director | Trustee | $0 | |
Stephen M Cox Chair | Trustee | $0 | |
Susan Allhusen Director | Trustee | $0 | |
Chad Prosser Director | Trustee | $0 | |
Tracie Broom Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,048,759 |
| Investment income | $120,568 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,280,520 |
| Statement of Expenses | |
|---|---|
| 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. | $100,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $121,870 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,595 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $20,374 |
| Office expenses | $41,783 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,269 |
| Travel | $60,238 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,214 |
| All other expenses | $27 |
| Total functional expenses | $1,159,633 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $901,312 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $6,050,570 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,951,882 |
| Accounts payable and accrued expenses | $1,897 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $49,000 |
| Total liabilities | $50,897 |
| Net assets without donor restrictions | $4,878,168 |
| Net assets with donor restrictions | $2,022,817 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $6,900,985 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Governors School For The Arts Fdn Inc has recieved totaling $3,680.
| Awarding Organization | Amount |
|---|---|
Lipscomb Family Foundation Denver, CO PURPOSE: OPERATIONAL SUPPORT | $3,600 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $50 |
American Express Foundation New York, NY PURPOSE: GENERAL SUPPORT | $30 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Penland School Of Craft Penland, NC | $77,347,904 | $8,195,417 |
Georgia Family Connection Partnership Inc Atlanta, GA | $2,438,280 | $6,252,094 |
Artsplus Charlotte, NC | $2,425,687 | $2,154,815 |
Academy Of Arts Taylors, SC | $0 | $1,967,967 |
Governors School For The Arts Fdn Inc Greenville, SC | $6,951,882 | $1,280,520 |
Artspace Inc Raleigh, NC | $1,201,619 | $651,834 |
Open Hearts Art Center Asheville, NC | $896,904 | $891,931 |
Artportunity Knocks Atlanta, GA | $37,008 | $383,836 |
Greenville Center For Creative Arts Greenville, SC | $3,673,648 | $964,186 |
Johns Creek Community Arts Center Duluth, GA | $930,349 | $817,366 |
Murray Arts Center Foundation Inc Kennesaw, GA | $10,097,234 | $0 |
Emerge Gallery Art Center Greenville, NC | $602,174 | $728,977 |