Salem Art Association Endowment Foundation
- Assets
- $968.1k
- Revenue
- $80.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Salem, OR
- Founding
- 02/1979
- Data as of
- 12/2021
- EIN
- 93-0718331
Organization Overview
Salem Art Association Endowment Foundation is located in Salem, OR. The organization was established in 1979. According to its NTEE Classification (A11) the organization is classified as: Single Organization Support, 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. Salem Art Association Endowment Foundation 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 12/2021, Salem Art Association Endowment Foundation generated $80.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $66.3k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FURTHER THE DEVELOPMENT OF THE SALEM ART ASSOCIATION; TO RECEIVE AND ADMINISTER FUNDS FOR CHARITABLE, SCIENTIFIC AND EDUCATIONAL ACTIVITIES FOR THE BENEFIT OF THE SALEM ART ASSOCIATION; TO PROVIDE FUNDS FOR LECTURES, SPEECHES, SEMINARS, CONFERENCES, RESEARCH, AND EDUCATION PROGRAMS, SURVEYS, INVESTIGATIONS AND OTHER ACTIVITIES FOR THE EDUCATION, ENJOYMENT, AND BENEFIT OF THE SALEM ART ASSOCIATION AND GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONTRIBUTIONS TO SALEM ART ASSOCIATION 93-0421613, A 501(C)(3) ORGANIZATION; TO SUPPORT THE ARTS IN ACCORDANCE WITH THE BY-LAWS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gary Hardey Treasurer | OfficerTrustee | 1 | $0 |
Jon Lauer President | OfficerTrustee | 1 | $0 |
Sandra Burnett Executive Director (thru May 2021) | Officer | 5 | $0 |
Matthew Boulay Executive Director (beg June 2021) | Officer | 2.5 | $0 |
Bob Speckman Director | Trustee | 1 | $0 |
Janet Neuburg Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,200 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,700 |
| Total Program Service Revenue | $0 |
| Investment income | $17,900 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $60,011 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $80,611 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,000 |
| 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 | $14,000 |
| 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 | $5,446 |
| 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 | $867 |
| Insurance | $0 |
| All other expenses | $1,032 |
| Total functional expenses | $66,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,871 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,900 |
| 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 | $0 |
| Investments—publicly traded securities | $910,350 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $968,121 |
| Accounts payable and accrued expenses | $25,500 |
| 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 | $25,500 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $942,621 |
| 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 | $968,121 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Salem Art Association Endowment Foundation has recieved totaling $2,550.
| Awarding Organization | Amount |
|---|---|
Salem Art Association Salem, OR PURPOSE: SALES RECEIVED BY SAA ON BEHALF OF SAAEF. | $2,550 |
Endowment Analysis
| Beg. Balance | $853,450 |
| Earnings | $152,816 |
| Admin Expense | $21,345 |
| Net Contributions | $2,700 |
| Grants | $45,000 |
| Ending Balance | $942,621 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
California Center For The Arts Escondido Foundation Escondido, CA | $1,637,426 | $6,432,180 |
Screen Actors Guild - American Federation Of Television And Radio Los Angeles, CA | $32,891,873 | $7,217,007 |
Carmel Mission Foundation Inc Carmel, CA | $1,231,681 | $982,770 |
All Classical Public Media Inc Portland, OR | $12,996,411 | $4,875,278 |
Oregon Shakespearean Festival Endowment Fund Inc Ashland, OR | $33,018,945 | $1,149,955 |
Ford Theatre Foundation Hollywood, CA | $2,293,812 | $4,065,513 |
Henry Gallery Association Inc Seattle, WA | $28,956,119 | $4,211,330 |
Mccallum Theatre Foundation Inc Palm Desert, CA | $10,233,971 | $253,349 |
Wing Luke Memorial Foundation Seattle, WA | $11,076,869 | $11,490,156 |
California State Railroad Museum Foundation Inc Sacramento, CA | $11,474,601 | $3,874,416 |
The California Museum Of History Women And The Arts Sacramento, CA | $9,367,922 | $1,679,886 |
Crocker Art Museum Foundation Sacramento, CA | $46,079,263 | $5,867,542 |