Westfield Arts Collective
- Assets
- $5.1m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Westfield, NJ
- Founding
- Data as of
- 12/2021
- EIN
- 87-1500559
Organization Overview
Westfield Arts Collective is located in Westfield, NJ. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westfield Arts Collective is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WESTFIELD ARTS COLLECTIVE WAS INCORPORATED ON JUNE 13, 2021. THE ORGANIZATION WAS ORIGINALLY FORMED WITH FOUR BOARD MEMBERS AND HAS EXPANDED TO NOW A TOTAL OF ELEVEN BOARD MEMBERS WITH A RANGE OF BACKGROUNDS AND SKILLS. THE ORGANIZATION FILED FOR ITS 501(C)(3) CHARITABLE DESIGNATION ON JULY 3, 2021 AND RECEIVED NOTIFICATION OF 501(C)(3) STATUS ON OCTOBER 6, 2021. THE WESTFIELD ARTS COLLECTIVE SIGNED A CONTRACT TO PURCHASE THE HISTORIC RIALTO THEATER IN OCTOBER OF 2021. THE NEWLY REIMAGINED SPACE, THE CENTER FOR CREATIVITY AT THE RIALTO, WAS OPEN TO THE PUBLIC IN OCTOBER 2021 AS THE HOST OF ADDAMSFEST AND THEN IN DECEMBER FOR ADDITIONAL COMMUNITY PROGRAMMING. IN NOVEMBER OF 2021, WE LEARNED THAT WE WOULD RECEIVE A DONATION MARKETABLE SECURITIES IN THE VALUE OF $5MILLION DOLLARS FROM A DONOR WHO WISHED TO REMAIN ANONYMOUS. ONE-HALF OF THE GIFT SHALL BE PAID AT ANY TIME BEFORE DECEMBER 31, 2021, AND THE REMAINING ONE- HALF SHALL BE PAID BEFORE MARCH 1, 2022. IN ADDITION TO THIS LANDMARK GIFT, THE WESTFIELD ARTS COLLECTIVE RECEIVED COMMUNITY DONATIONS RESULTING FROM THE ANNOUNCEMENT OF THE SIGNED CONTRACT.
THE WESTFIELD ARTS COLLECTIVE WAS INCORPORATED ON JUNE 13, 2021. THE ORGANIZATION WAS ORIGINALLY FORMED WITH FOUR BOARD MEMBERS AND HAS EXPANDED TO NOW A TOTAL OF ELEVEN BOARD MEMBERS WITH A RANGE OF BACKGROUNDS AND SKILLS. THE ORGANIZATION FILED FOR ITS 501(C)(3) CHARITABLE DESIGNATION ON JULY 3, 2021 AND RECEIVED NOTIFICATION OF 501(C)(3) STATUS ON OCTOBER 6, 2021. THE WESTFIELD ARTS COLLECTIVE SIGNED A CONTRACT TO PURCHASE THE HISTORIC RIALTO THEATER IN OCTOBER OF 2021. THE NEWLY REIMAGINED SPACE, THE CENTER FOR CREATIVITY AT THE RIALTO, WAS OPEN TO THE PUBLIC IN OCTOBER 2021 AS THE HOST OF ADDAMSFEST AND THEN IN DECEMBER FOR ADDITIONAL COMMUNITY PROGRAMMING. IN NOVEMBER OF 2021, WE LEARNED THAT WE WOULD RECEIVE A DONATION MARKETABLE SECURITIES IN THE VALUE OF $5MILLION DOLLARS FROM A DONOR WHO WISHED TO REMAIN ANONYMOUS. ONE-HALF OF THE GIFT SHALL BE PAID AT ANY TIME BEFORE DECEMBER 31, 2021, AND THE REMAINING ONE- HALF SHALL BE PAID BEFORE MARCH 1, 2022. IN ADDITION TO THIS LANDMARK GIFT, THE WESTFIELD ARTS COLLECTIVE RECEIVED COMMUNITY DONATIONS RESULTING FROM THE ANNOUNCEMENT OF THE SIGNED CONTRACT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Cassie Board Director | Officer | 10 | $0 |
Dawn Mackey Board Director | Trustee | 2 | $0 |
Cheryl Marks Young Board Director | Trustee | 2 | $0 |
Sal Caruana Board Director | Trustee | 2 | $0 |
Nancy Gleason Board Director | Trustee | 2 | $0 |
Michele Modestino Board Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,099,338 |
| Noncash contributions included in lines 1a–1f | $20,597 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,099,338 |
| Total Program Service Revenue | $0 |
| Investment income | $12 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,680 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,094,670 |
| 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 | $0 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $82 |
| Office expenses | $238 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,558 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $121 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,568 |
| All other expenses | $0 |
| Total functional expenses | $37,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,876,537 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,177,279 |
| 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 | $10,298 |
| Investments—publicly traded securities | $2,831,619 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,064,114 |
| Accounts payable and accrued expenses | $7,184 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,184 |
| Net assets without donor restrictions | $5,056,930 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,064,114 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Westfield Arts Collective has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Columbia Bank Foundation Fair Lawn, NJ PURPOSE: DECEMBER @ THE RIALTO | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |
St Anns Warehouse Inc Brooklyn, NY | $32,618,208 | $8,833,127 |
Mount Carmel Guild Education Newark, NJ | $2,668,838 | $6,215,422 |
One Club For Creativity Inc New York, NY | $23,237,696 | $9,988,732 |
Judd Foundation New York, NY | $82,389,087 | $7,883,436 |
Guild Hall Of East Hampton Inc East Hampton, NY | $35,896,554 | $17,394,413 |
Seward Johnson Atelier Inc Hamilton, NJ | $66,063,145 | $5,452,215 |
Boris Lurie Art Foundation Wilmington, DE | $0 | $786,286 |
City Lore Inc New York, NY | $1,966,661 | $4,516,520 |
Restart Factory Inc New York, NY | $6,049,280 | $3,828,840 |