Cornelius Arts Community Center Inc
- Assets
- $26.6m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 6
- Location
- Cornelius, NC
- Founding
- 03/2017
- Data as of
- 06/2022
- EIN
- 81-4628087
Organization Overview
Cornelius Arts Community Center Inc, operating under the name Cain Center For The Arts, is located in Cornelius, NC. The organization was established in 2017. 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 06/2022, Cain Center For The Arts employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cain Center For The Arts 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, Cain Center For The Arts generated $7.5m in total revenue. All expenses for the organization totaled $779.7k during the year ending 06/2022. While expenses have increased by 49.5% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN AND OPERATE AN ARTS AND COMMUNITY CENTER IN THE TOWN OF CORNELIUS BY SERVING THE ENTIRE LAKE NORMAN REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAIN CENTER FOR THE ARTS CONTINUES TO PROVIDE THE COMMUNITY WITH CLASSES, PROGRAMS, EXHIBITS, CONCERTS, AND OTHER FAMILY-FRIENDLY EVENTS AS WE OPERATE THE CORNELIUS ARTS CENTER FACILITY. WE HAVE ALSO PARTNERED WITH MANY COMMUNITY ORGANIZATIONS TO OFFER PRIVATE MUSIC LESSONS, FREE SHOWS IN LOCAL SCHOOLS, AND SCHOLARSHIP ASSISTANCE FOR THOSE IN NEED.
CAIN CENTER FOR THE ARTS CONTINUES TO PROVIDE THE COMMUNITY WITH CLASSES, PROGRAMS, EXHIBITS, CONCERTS, AND OTHER FAMILY-FRIENDLY EVENTS AS WE OPERATE THE CORNELIUS ARTS CENTER FACILITY. WE HAVE ALSO PARTNERED WITH MANY COMMUNITY ORGANIZATIONS TO OFFER PRIVATE MUSIC LESSONS, FREE SHOWS IN LOCAL SCHOOLS, AND SCHOLARSHIP ASSISTANCE FOR THOSE IN NEED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Dionne Executive Director | Officer | 40 | $129,560 |
Greg Wessling President | OfficerTrustee | 4 | $0 |
Pat Bechdol Vice President | OfficerTrustee | 4 | $0 |
Bill Ward Treasurer | OfficerTrustee | 4 | $0 |
Cynthia Bush Secretary | OfficerTrustee | 4 | $0 |
Paul Newton Board Of Directors | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $16,635 |
| Related organizations | $0 |
| Government grants | $4,144,746 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,156,258 |
| Noncash contributions included in lines 1a–1f | $630,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,317,639 |
| Total Program Service Revenue | $136,907 |
| Investment income | $31,429 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$12,503 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,473,472 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,640 |
| Compensation of current officers, directors, key employees. | $34,534 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $200,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,247 |
| Payroll taxes | $25,222 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,748 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,038 |
| Fees for services: Other | $75,206 |
| Advertising and promotion | $56,741 |
| Office expenses | $7,359 |
| Information technology | $22,204 |
| Royalties | $0 |
| Occupancy | $95,002 |
| Travel | $5,238 |
| 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 | $1,183 |
| Insurance | $33,566 |
| All other expenses | $1,081 |
| Total functional expenses | $779,726 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $534,994 |
| Savings and temporary cash investments | $6,654,707 |
| Pledges and grants receivable | $4,168,031 |
| Accounts receivable, net | $95,114 |
| 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 | $12,783 |
| Net Land, buildings, and equipment | $14,303,401 |
| Investments—publicly traded securities | $722,742 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $153,930 |
| Total assets | $26,645,702 |
| Accounts payable and accrued expenses | $2,456,585 |
| Grants payable | $0 |
| Deferred revenue | $58,832 |
| 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 | $2,515,417 |
| Net assets without donor restrictions | $339,611 |
| Net assets with donor restrictions | $23,790,674 |
| 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 | $26,645,702 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Cornelius Arts Community Center Inc has recieved totaling $105,000.
| Awarding Organization | Amount |
|---|---|
The Bost Foundation Cornelius, NC PURPOSE: ART CENTER | $100,000 |
David E Maguire Foundation Inc Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Endowment Analysis
| Earnings | -$20,656 |
| Net Contributions | $497,000 |
| Ending Balance | $476,344 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coalition To Salute Americas Heroes Foundation Leesburg, VA | $3,573,595 | $8,478,376 |
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 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
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 |
Artsnow Inc Atlanta, GA | $4,742,407 | $2,526,341 |
Suffolk Center For Cultural Arts Foundation Suffolk, VA | $18,737,592 | $3,812,474 |