Waco Creative Art Center
- Assets
- $4.0m
- Revenue
- $466.0k
- Investments
- $216.1k
- Employees
- 10
- Location
- Waco, TX
- Founding
- 05/1973
- Data as of
- 06/2023
- EIN
- 74-1721811
Organization Overview
Waco Creative Art Center is located in Waco, TX. The organization was established in 1973. 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 06/2023, Waco Creative Art Center employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waco Creative Art Center 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, Waco Creative Art Center generated $466.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.8% each year . All expenses for the organization totaled $523.0k during the year ending 06/2023. While expenses have increased by 20.5% 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 EDUCATE THE COMMUNITY ABOUT CREATIVE ART EXPRESSION; ENCOURAGE APPRECIATION OF VARIOUS ART FORMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION CLASSES, WORKSHOPS, ARTISTS' MARKETS - TO PROMOTE THE EDUCATION OF THE GENERAL PUBLIC IN THE APPRECIATION OF ART
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jill Michaels Past President | Trustee | 1 | $0 |
Alyce Beard Director | Trustee | 1 | $0 |
Curtis Brown Secretary | OfficerTrustee | 1 | $0 |
Lenny Caballero Director | Trustee | 1 | $0 |
Morgan Eyring Director | Trustee | 1 | $0 |
Tyrha Lindsey-Warren Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $8,229 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $358,161 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $366,390 |
| Total Program Service Revenue | $35,377 |
| Investment income | $7,441 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,035 |
| Net Gain/Loss on Asset Sales | -$2,991 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $41,788 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $466,040 |
| 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. | $90,615 |
| Compensation of current officers, directors, key employees. | $38,058 |
| Compensation to disqualified persons | $62,557 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,002 |
| Payroll taxes | $43,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,490 |
| Fees for services: Other | $5,626 |
| Advertising and promotion | $248 |
| Office expenses | $0 |
| Information technology | $1,990 |
| Royalties | $0 |
| Occupancy | $37,897 |
| Travel | $568 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $40,254 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,328 |
| Insurance | $15,631 |
| All other expenses | $25,056 |
| Total functional expenses | $523,048 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $394,303 |
| 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 |
| Net Land, buildings, and equipment | $3,116,592 |
| Investments—publicly traded securities | $11,953 |
| Investments—other securities | $216,080 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $253,714 |
| Total assets | $3,992,642 |
| Accounts payable and accrued expenses | $595 |
| 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 | $869,181 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $869,776 |
| Net assets without donor restrictions | $2,772,794 |
| Net assets with donor restrictions | $350,072 |
| 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 | $3,992,642 |