Lowndes-Valdosta Arts Commission Inc
- Assets
- $4.9m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 9
- Location
- Valdosta, GA
- Founding
- 04/1979
- Data as of
- 06/2021
- EIN
- 58-1339580
Organization Overview
Lowndes-Valdosta Arts Commission Inc is located in Valdosta, GA. The organization was established in 1979. 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 06/2021, Lowndes-Valdosta Arts Commission Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lowndes-Valdosta Arts Commission 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 06/2021, Lowndes-Valdosta Arts Commission Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $627.4k during the year ending 06/2021. While expenses have increased by 1.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING ARTS PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED SHOWS TO THE GENERAL PUBLIC, CHILDREN'S PROGRAM THROUGH THE SCHOOLS, ART SHOWS AND EXHIBITIONS.
PROVIDED SHOWS TO THE GENERAL PUBLIC, CHILDREN'S PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tina Folsom Secretary | OfficerTrustee | 0.25 | $0 |
Bruce Smith President | OfficerTrustee | 0.25 | $0 |
Al Turner Treasurer | OfficerTrustee | 0.25 | $0 |
Steven Walker Board Member | Trustee | 0.25 | $0 |
Nancy Warren Board Member | Trustee | 0.25 | $0 |
Mala Vallotton Board Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $726,952 |
| Investment income | $360,027 |
| 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 | $1,289,025 |
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $245,286 |
| Pension plan accruals and contributions | $4,917 |
| Other employee benefits | $11,333 |
| Payroll taxes | $18,194 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,711 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,596 |
| Office expenses | $9,619 |
| Information technology | $5,475 |
| Royalties | $0 |
| Occupancy | $36,948 |
| Travel | $798 |
| 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 | $70,651 |
| Insurance | $11,965 |
| All other expenses | $0 |
| Total functional expenses | $627,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,435 |
| Savings and temporary cash investments | $120,563 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,445 |
| 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 | $8,119 |
| Investments—publicly traded securities | $1,948,477 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,907,048 |
| Accounts payable and accrued expenses | $17,565 |
| Grants payable | $0 |
| Deferred revenue | $81,178 |
| 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 | $98,743 |
| 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 |
| Total liabilities and net assets/fund balances | $4,808,305 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lowndes-Valdosta Arts Commission Inc has recieved totaling $33,000.
| Awarding Organization | Amount |
|---|---|
Price-Campbell Foundation Inc Valdosta, GA PURPOSE: EDUCATIONAL | $33,000 |
Endowment Analysis
| Beg. Balance | $1,604,234 |
| Earnings | $359,954 |
| Admin Expense | $17,711 |
| Net Contributions | $2,000 |
| Ending Balance | $1,948,477 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of The Four Arts Palm Beach, FL | $121,173,909 | $24,597,391 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Spoleto Festival U S A Charleston, SC | $23,626,585 | $7,325,323 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
Irma And Norman Braman Art Foundation Miami, FL | $27,200,000 | -$200,000 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
Korean Martial Arts Culture & Education Foundation Inc Hollywood, FL | $530,186 | $4,469,417 |
Arts Center Of Coastal Carolina Hilton Head Island, SC | $10,441,766 | $4,547,581 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Memphis Equity Through Arts Meta Incorporated Memphis, TN | $5,874,530 | $7,164,597 |
Memphis In May International Festival Inc Memphis, TN | $4,677,503 | $2,273,583 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |