Washington Art Consortium
- Assets
- $7.7m
- Revenue
- -$72.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Bellingham, WA
- Founding
- Data as of
- 06/2016
- EIN
- 91-2105758
Organization Overview
Washington Art Consortium is located in Bellingham, WA. Washington Art Consortium 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
WASHINGTON ART CONSORTIUM(WAC) IS AN EDUCATIONAL COOPERATIVE OF SEVEN ART MUSEUMS IN WASHINGTON STATE WITH COMMON GOALS TO PROMOTE THE UNDERSTANDING AND APPRECIATION OF ART.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WAC PRESERVES AND MANAGES A NORTHWEST ART COLLECTION TO WHICH PUBLIC PRESENTATIONS AND APPRECIATION CAN EVOLVE INCLUDING EDUCATION AN STUDY SO THAT ART IN THE COLLECTION WILL BE ACCESSIBLE TO A BROAD AUDIENCE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sylvia Wolf President | Officer | 2 | $0 |
Forrest Rodgers Treasurer | Officer | 2 | $0 |
Chris Bruce Secretary | Officer | 1 | $0 |
Kim Rorschach Vice President | Officer | 1 | $0 |
Patricia Leach Director | Trustee | 1 | $0 |
Hafpor Yngvason Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,500 |
| Investment income | $78,347 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$155,068 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$72,221 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $22,479 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,466 |
| Payroll taxes | $1,716 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,986 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $3,955 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $91,362 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $65,690 |
| 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 |
| Investments—publicly traded securities | $2,220,885 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $773 |
| Other assets | $5,355,599 |
| Total assets | $7,714,670 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $280,404 |
| Net assets with donor restrictions | $78,667 |
| Capital stock or trust principal, or current funds | $7,355,599 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $7,714,670 |
Endowment Analysis
| Beg. Balance | $2,412,536 |
| Earnings | -$74,819 |
| Ending Balance | $2,337,717 |
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