Venice Art Center Inc
- Assets
- $2.2m
- Revenue
- $573.5k
- Investments
- $0.0
- Employees
- 12
- Location
- Venice, FL
- Founding
- 01/1967
- Data as of
- 12/2022
- EIN
- 59-6178294
Organization Overview
Venice Art Center Inc is located in Venice, FL. The organization was established in 1967. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Venice Art Center Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Venice Art Center 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 12/2022, Venice Art Center Inc generated $573.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $730.1k during the year ending 12/2022. 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
COMMUNITY-WIDE PROGRAM OF THE ARTS, PROVIDING EDUCATION, DEVELOPMENT, AND REPRESENTATION OF THE FINE ARTS TO ADULTS, CHILDREN AND SENIOR CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VENICE ART CENTER OFFERS A WIDE VARIETY OF CLASSES FOR BOTH ADULTS AND CHILDREN THAT RANGE FROM PAINTING, CERAMICS, JEWELRY, DRAWING, PHOTOGRAPHY AND WORKSHOPS.
MISCELLAENOUS ACTIVITIES PROMOTING THE ART CENTER'S SERVICES.
GALLERY SALES - THE CENTER OFFERS ARTISTS THE OPPORTUNITY TO DISPLAY AND SELL THEIR ARTWORK TO THE COMMUNITY THROUGH THE CENTER.
EXHIBITION - DURING THE COURSE OF THE YEAR, THE CENTER HOLDS MULTIPLE EXHIBITIONS FOR ARTISTS TO DISPLAY THEIR ARTWORK FOR THE ENRICHMENT OF THE LOCAL COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Lamond Secretary | OfficerTrustee | 2 | $0 |
Thomas Crafts President | OfficerTrustee | 2 | $0 |
Jeff Cornell Director | Trustee | 2 | $0 |
Jennifer Hazeltine Director | Trustee | 2 | $0 |
Andrea Stultz Director | Trustee | 2 | $0 |
Paul Mccullough Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,087 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $127,646 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $153,733 |
| Total Program Service Revenue | $346,202 |
| Investment income | -$20,557 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,915 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $80,429 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $573,490 |
| 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 | $274,697 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,170 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,418 |
| Office expenses | $16,429 |
| Information technology | $12,730 |
| Royalties | $0 |
| Occupancy | $42,259 |
| Travel | $0 |
| 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 | $58,856 |
| Insurance | $57,013 |
| All other expenses | $42,758 |
| Total functional expenses | $730,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,017 |
| Savings and temporary cash investments | $75,289 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,080 |
| 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 | $5,302 |
| Net Land, buildings, and equipment | $919,258 |
| Investments—publicly traded securities | $812,362 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $172,233 |
| Total assets | $2,208,541 |
| Accounts payable and accrued expenses | $14,232 |
| Grants payable | $0 |
| Deferred revenue | $21,685 |
| 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 | $4,625 |
| Total liabilities | $40,542 |
| Net assets without donor restrictions | $2,009,014 |
| Net assets with donor restrictions | $158,985 |
| 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 | $2,208,541 |