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← THOMAS S KENAN INSTITUTE FOR THE ARTS SUPPORTING ORGANIZATION

Form 990 for tax year 2023

Filed by THOMAS S KENAN INSTITUTE FOR THE ARTS SUPPORTING ORGANIZATION.

Totals

Total revenue
$2,050,434
Total expenses
$1,954,187
Contributions and grants received
$2,047,500
Grants paid
$0
Program service revenue
$2,685
Investment income
$249
Other revenue
$0
Total assets, end of year
$2,126,660
Total liabilities, end of year
$83,609
Net assets or fund balances, end of year
$2,043,051
Program services expenses (Part IX)
$1,954,187
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$1,954,187

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $2,047,500

  • 2a · Program service revenue: OTHER OPERATING REVENU

    total $2,685 · related or exempt $2,685

  • 3 · Investment income

    total $249 · excluded $249

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $12,500 · program services $12,500

  • 11g · Fees: other

    total $508,248 · program services $508,248

  • 12 · Advertising and promotion

    total $3,100 · program services $3,100

  • 13 · Office expenses

    total $17,236 · program services $17,236

  • 16 · Occupancy

    total $260,386 · program services $260,386

  • 17 · Travel

    total $128,360 · program services $128,360

  • 19 · Conferences, conventions and meetings

    total $134,311 · program services $134,311

  • 22 · Depreciation, depletion and amortization

    total $1,645 · program services $1,645

  • 23 · Insurance

    total $1,400 · program services $1,400

  • 24a · Other expenses: SALARY REIMBURSEMENT

    total $459,341 · program services $459,341

  • 24b · Other expenses: HONORARIUMS AND OTHER A

    total $292,015 · program services $292,015

  • 24c · Other expenses: SUPPLIES AND MATERIALS

    total $120,770 · program services $120,770

  • 24d · Other expenses: DUES AND SUBSCRIPTIONS

    total $14,875 · program services $14,875

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,008,879 · end of year $2,095,413

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

    $32,892

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

    $1,645

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $31,247

  • 17 · Accounts payable and accrued expenses

    beginning of year $62,075 · end of year $83,609

  • 27 · Net assets without donor restrictions

    beginning of year $1,946,804 · end of year $2,043,051

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

THE THOMAS S. KENAN INSTITUTE FOR THE ARTS SUPPORTING ORGANIZATION (THE "SUPPORTING ORGANIZATION") IS AN ORGANIZATION FORMED FOR THE EXECUTIVE PURPOSE OF RECEIVING AND ADMINISTERING GRANTS AND FUNDS, AND SUPPORTING THE PROGRAMS, ACTIVITES, AND ADMINISTRATION OF THE THOMAS S. KENAN INSTITUTE FOR THE ARTS( THE "INSTITUTE"). THE INSTITUTE EXISTS AS A PART OF THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS, WHICH ITSELF IS A SUBDIVISION OF THE NORTH CAROLINA GOVERNMENT. THE SUPPORTING ORGANIZATION WILL HANDLE CERTAIN OF THE INSTITUTE'S GROWING PROGRAMMING, REVENUE MANAGEMENT, AND ACCOUNTING NEEDS MOVING FORWARD.

Activities or mission (Part I)

THE THOMAS S. KENAN INSTITUTE FOR THE ARTS SUPPORTING ORGANIZATION (THE "SUPPORTING ORGANIZATION") IS AN ORGANIZATION FORMED FOR THE EXECUTIVE PURPOSE OF RECEIVING AND ADMINISTERING GRANTS AND FUNDS, AND SUPPORTING THE PROGRAMS, ACTIVITIES, AND ADMINISTRATION OF THE THOMAS S. KENAN INSTITUTE FOR THE ARTS( THE "INSTITUTE"). THE INSTITUTE EXISTS AS A PART OF THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS, WHICH ITSELF IS A SUBDIVISION OF THE NORTH CAROLINA GOVERNMENT. THE SUPPORTING ORGANIZATION WILL HANDLE CERTAIN OF THE INSTITUTE'S GROWING PROGRAMMING, REVENUE MANAGEMENT, AND ACCOUNTING NEEDS MOVING FORWARD.

  • SUPPORT OF THE THOMAS S. KENAN INSTITUTE FOR THE ARTS, WHICH EXISTS AS A PART OF THE UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS.

    Expenses $1,954,187 · Revenue $2,685

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brian Cole

    PRESIDENT

    Total calculated
    $359,542
    From this org
    $0
    From related orgs
    $300,889
    Other
    $58,653
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $300,889 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $42,305 related
    Nontaxable benefits
    $0 + $16,348 related
    Filer's total
    $0 + $359,542 related

  • Kevin Bitterman

    VICE PRESIDENT

    Total calculated
    $170,322
    From this org
    $0
    From related orgs
    $130,159
    Other
    $40,163
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $130,159 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $32,681 related
    Nontaxable benefits
    $0 + $7,482 related
    Filer's total
    $0 + $170,322 related

  • David Harrison

    SECRETARY

    Total calculated
    $206,036
    From this org
    $0
    From related orgs
    $173,575
    Other
    $32,461
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,575 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,752 related
    Nontaxable benefits
    $0 + $7,709 related
    Filer's total
    $0 + $206,036 related

  • Wendy Emerson

    TREASURER

    Total calculated
    $234,672
    From this org
    $0
    From related orgs
    $181,625
    Other
    $53,047
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $181,625 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $45,338 related
    Nontaxable benefits
    $0 + $7,709 related
    Filer's total
    $0 + $234,672 related

  • Jim Decristo

    DIRECTOR

    Total calculated
    $199,111
    From this org
    $0
    From related orgs
    $159,793
    Other
    $39,318
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $159,793 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $23,809 related
    Nontaxable benefits
    $0 + $15,509 related
    Filer's total
    $0 + $199,111 related

  • Patrick Sims

    DIRECTOR

    Total calculated
    $276,127
    From this org
    $0
    From related orgs
    $212,719
    Other
    $63,408
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $212,719 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $53,596 related
    Nontaxable benefits
    $0 + $9,812 related
    Filer's total
    $0 + $276,127 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • UNIVERSITY OF NORTH CAROLINA SCHOOL OF THE ARTS

    501(C)(1) · ARTS · NC

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.1
Source object
202413099349300601

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