Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $290,142

• 1e · Government grants (contributions)

  $17,480,120

• 1f · All other contributions, gifts and grants

  $5,150,035

• 1g · Noncash contributions included above

  $17,427

• 2a · Program service revenue: Civic Art revenue

  total $2,615,816 · related or exempt $2,615,816

• 3 · Investment income

  total $32,485 · excluded $32,485

• 7a · Gross sales of assets other than inventory

  securities $115,182

• 7b · Less cost or other basis and sales expenses

  securities $124,378

• 7c · Gain or loss

  securities -$9,196

• 7d · Net gain or loss

  total -$9,196 · excluded -$9,196

• 8a · Fundraising events: gross income

  $29,125

• 8a · Fundraising events: contributions included on line 1c

  $290,142

• 8b · Fundraising events: direct expenses

  $129,219

• 8c · Net income from fundraising events

  total -$100,094 · excluded -$100,094

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $12,445,791 · program services $12,445,791

• 2 · Grants to domestic individuals

  total $3,304,158 · program services $3,304,158

• 5 · Compensation of officers, directors and key employees

  total $652,288 · program services $516,292 · management and general $72,854 · fundraising $63,142

• 7 · Other salaries and wages

  total $1,295,866 · program services $1,025,691 · management and general $144,735 · fundraising $125,440

• 8 · Pension plan contributions

  total $64,587 · program services $51,121 · management and general $7,214 · fundraising $6,252

• 9 · Other employee benefits

  total $280,440 · program services $221,971 · management and general $31,322 · fundraising $27,147

• 10 · Payroll taxes

  total $135,683 · program services $107,395 · management and general $15,154 · fundraising $13,134

• 11b · Fees: legal

  total $1,840 · program services $1,840

• 11c · Fees: accounting

  total $31,046 · program services $18,194 · management and general $11,300 · fundraising $1,552

• 11f · Fees: investment management

  total $3,408 · management and general $3,408

• 11g · Fees: other

  total $535,220 · program services $499,476 · fundraising $35,744

• 12 · Advertising and promotion

  total $13,933 · program services $13,933

• 13 · Office expenses

  total $116,805 · program services $96,396 · management and general $11,060 · fundraising $9,349

• 14 · Information technology

  total $153,451 · program services $148,272 · fundraising $5,179

• 16 · Occupancy

  total $65,172 · program services $56,699 · management and general $5,214 · fundraising $3,259

• 19 · Conferences, conventions and meetings

  total $225,512 · program services $161,475 · management and general $21,113 · fundraising $42,924

• 22 · Depreciation, depletion and amortization

  total $39,074 · management and general $39,074

• 23 · Insurance

  total $37,387 · program services $32,527 · management and general $2,991 · fundraising $1,869

• 24a · Other expenses: Artist fees

  total $2,509,801 · program services $2,479,801 · fundraising $30,000

• 24b · Other expenses: Dues and subscriptions

  total $64,470 · program services $43,910 · management and general $10,387 · fundraising $10,173

• 24c · Other expenses: Equipment rental

  total $5,188 · program services $4,514 · management and general $415 · fundraising $259

• 24d · Other expenses: Community outreach

  total $3,352 · program services $242 · management and general $1,410 · fundraising $1,700

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $12,928,773 · end of year $9,638,493

• 3 · Pledges and grants receivable

  beginning of year $20,483,201 · end of year $26,486,537

• 4 · Accounts receivable

  beginning of year $396,366 · end of year $293,100

• 9 · Prepaid expenses and deferred charges

  beginning of year $16,372 · end of year $9,767

• 10a · Land, buildings and equipment: cost or other basis

  $311,251

• 10b · Land, buildings and equipment: accumulated depreciation

  $156,766

• 10c · Land, buildings and equipment, net

  beginning of year $168,514 · end of year $154,485

• 11 · Investments: publicly traded securities

  beginning of year $3,069,473 · end of year $3,095,523

• 15 · Other assets

  beginning of year $55,861 · end of year $48,886

• 17 · Accounts payable and accrued expenses

  beginning of year $552,786 · end of year $509,147

• 18 · Grants payable

  beginning of year $20,431,295 · end of year $20,543,801

• 19 · Deferred revenue

  beginning of year $1,381,777 · end of year $381,390

• 21 · Escrow or custodial account liability

  end of year $4,877

• 25 · Other liabilities

  beginning of year $61,915 · end of year $53,284

• 27 · Net assets without donor restrictions

  beginning of year $1,832,738 · end of year $1,231,981

• 28 · Net assets with donor restrictions

  beginning of year $12,858,049 · end of year $17,002,311

The filer's explanations (Part III)

Schedule J, Part I, Line 7:

The Human Resource Committee of the Board of Directors may consider incentive compensation for the CEO annually. The Committee considers programmatic success, goal achievements, and personal performance in determining the amount. Payment is capped at 15% of base compensation.