Walton Arts Center Council Inc
- Assets
- $96.4m
- Revenue
- $44.6m
- Investments
- $0.0
- Employees
- 659
- Location
- Fayetteville, AR
- Founding
- 08/1988
- Data as of
- 06/2022
- EIN
- 71-0647212
Organization Overview
Walton Arts Center Council Inc is located in Fayetteville, AR. The organization was established in 1988. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Walton Arts Center Council Inc employed 659 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Walton Arts Center Council 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, Walton Arts Center Council Inc generated $44.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $35.6m during the year ending 06/2022. While expenses have increased by 8.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESENT AND PROMOTE THE ARTS IN NORTHWEST ARKANSAS
Describe the Organization's Program Activity:
TO PROMOTE AND PROVIDE THE ARTS IN NORTHWEST ARKANSAS THROUGH THE PRESENTATION OF PERFORMANCES, VISUAL ARTS, AND EDUCATIONAL PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Lane Ceo/ President | Officer | 40 | $611,301 |
Scott Galbraith Vp, Programming | Officer | 40 | $192,316 |
Tim Vogt Cfo/vp, Finance | Officer | 40 | $164,724 |
Becky Brink VP Of Development | 40 | $134,994 | |
Jonathan Downey Director Of Information Technology | 40 | $118,288 | |
Brian Crowne Vp, Amp | 1 | $116,858 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $213,922 |
| Related organizations | $580,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,077,947 |
| Noncash contributions included in lines 1a–1f | $111,666 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,871,869 |
| Total Program Service Revenue | $24,687,624 |
| Investment income | $31,190 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $211,970 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$157,700 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $44,644,953 |
| 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. | $1,555,424 |
| Compensation of current officers, directors, key employees. | $398,710 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,441,777 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $745,579 |
| Payroll taxes | $439,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $167,362 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $833,458 |
| Advertising and promotion | $989,060 |
| Office expenses | $493,860 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $464,899 |
| Travel | $90,896 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,325 |
| Interest | $21,761 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,513,158 |
| Insurance | $391,409 |
| All other expenses | $3,339,359 |
| Total functional expenses | $35,587,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,373,995 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,499,421 |
| Accounts receivable, net | $6,488,772 |
| 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 | $4,351,810 |
| Net Land, buildings, and equipment | $45,259,772 |
| Investments—publicly traded securities | $3,303,374 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,572 |
| Other assets | $69,537 |
| Total assets | $96,355,253 |
| Accounts payable and accrued expenses | $3,063,823 |
| Grants payable | $0 |
| Deferred revenue | $39,802,479 |
| 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 | $7,096,382 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $49,962,684 |
| Net assets without donor restrictions | $42,892,569 |
| Net assets with donor restrictions | $3,500,000 |
| 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 | $96,355,253 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Walton Arts Center Council Inc has recieved totaling $1,117,332.
| Awarding Organization | Amount |
|---|---|
Walton Family Foundation Inc Bentonville, AR PURPOSE: TO SUPPORT PROGRAMMING AND OPERATIONS AT THE WALTON ARTS CENTER. | $550,000 |
Wal-Mart Foundation Bentonville, AR PURPOSE: NORTHWEST ARKANSAS | $350,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $65,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $57,182 |
Walton Family Foundation Inc Bentonville, AR PURPOSE: TO SUPPORT GENERAL OPERATIONS, AS WELL AS TO PROVIDE PROGRAM SUPPORT FOR DIVERSE PERFORMING ARTS PROGRAMS. | $50,000 |
Wal-Mart Foundation Bentonville, AR PURPOSE: EXECUTIVE MATCHING GIFT PROGRAM | $15,000 |
Endowment Analysis
| Beg. Balance | $19,454,954 |
| Earnings | -$1,148,505 |
| Other Expense | $596,000 |
| Ending Balance | $17,710,449 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Walton Arts Center Council Inc Fayetteville, AR | $96,355,253 | $44,644,953 |
Houston Arts Alliance Houston, TX | $29,688,694 | $26,121,886 |
Mid-America Arts Alliance Kansas City, MO | $12,444,344 | $5,873,119 |
Arts Council Of Oklahoma City Oklahoma City, OK | $5,417,646 | $3,471,903 |
Arts Memphis Memphis, TN | $27,136,198 | $4,849,435 |
Regional Cultural & Performing Arts Development Commission St Louis, MO | $5,092,606 | $4,539,915 |
Acadiana Center For The Arts Lafayette, LA | $2,214,037 | $2,734,982 |
Arts And Humanities Council Of Tulsa Inc Tulsa, OK | $13,547,923 | $1,595,922 |
Arts Council Of New Orleans New Orleans, LA | $1,809,882 | $2,444,435 |
Arts Council Of Greater Baton Rouge Inc Baton Rouge, LA | $4,710,204 | $2,512,753 |
Arts & Education Council Of Greater St Louis St Louis, MO | $3,607,788 | $2,239,386 |
Metropolitan Arts Council Of Greater Kansas City Kansas City, MO | $1,490,400 | $2,232,014 |