Totals
- Total revenue
- $273,047
- Total expenses
- $250,228
- Contributions and grants received
- $232,887
- Grants paid
- $0
- Program service revenue
- $40,137
- Investment income
- $23
- Other revenue
- $0
- Total assets, end of year
- $129,330
- Total liabilities, end of year
- $14,348
- Net assets or fund balances, end of year
- $114,982
- Program services expenses (Part IX)
- $203,981
- Management and general expenses
- $20,870
- Fundraising expenses
- $25,377
- Program service expenses (Part III)
- $203,981
Program services were 81.5% 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.
-
1e · Government grants (contributions)
$64,202
-
1f · All other contributions, gifts and grants
$168,685
-
2a · Program service revenue: Community Exhibit Venue Fees
total $40,137
-
3 · Investment income
total $23
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $103,164 · program services $75,093 · management and general $17,457 · fundraising $10,614
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $0
-
11d · Fees: lobbying
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $78,095 · program services $64,133 · management and general $2,316 · fundraising $11,646
-
12 · Advertising and promotion
total $722 · program services $722
-
13 · Office expenses
total $5,409 · program services $4,994 · management and general $236 · fundraising $179
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $38,173 · program services $38,135 · management and general $23 · fundraising $15
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $1,929 · program services $1,681 · management and general $173 · fundraising $75
-
23 · Insurance
total $5,181 · program services $4,676 · management and general $303 · fundraising $202
-
24a · Other expenses: Event Expenses
total $2,956 · program services $869 · management and general $28 · fundraising $2,059
-
24b · Other expenses: Awards to Artists
total $1,166 · program services $1,166
-
24c · Other expenses: Printing/Postage Bank Charges/Fees
total $2,406 · program services $1,984 · management and general $57 · fundraising $365
-
24d · Other expenses: Internet/Website Dues/Sub.
total $6,983 · program services $6,737 · management and general $145 · fundraising $101
-
24e · All other expenses
total $4,044 · program services $3,791 · management and general $132 · fundraising $121
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $64,736 · end of year $83,152
-
3 · Pledges and grants receivable
beginning of year $40,000 · end of year $40,000
-
4 · Accounts receivable
beginning of year $2,133 · end of year $2,133
-
10a · Land, buildings and equipment: cost or other basis
$14,813
-
10b · Land, buildings and equipment: accumulated depreciation
$10,768
-
10c · Land, buildings and equipment, net
beginning of year $5,974 · end of year $4,045
-
15 · Other assets
beginning of year $241,773
-
17 · Accounts payable and accrued expenses
beginning of year $13,920 · end of year $14,348
-
25 · Other liabilities
beginning of year $248,530
-
27 · Net assets without donor restrictions
beginning of year -$32,614 · end of year -$9,868
-
28 · Net assets with donor restrictions
beginning of year $124,780 · end of year $124,850
Mission and programs · 2024
Mission
VAE produces, funds, and exhibits socially-engaged art through community collaboration.
-
VAE provides direct support to artists chiefly through its largest funding initiative The Snapdragon Fund, a regional regranting program made possible through funding from The Andy Warhol Foundation for the Visual Arts. The fund provides 60,000 of funding for individual artists each year. This funding is split across 3 categories 8 project grants of 5,000 5 research grants of 2,000 and 20 micro grants of 500. VAEs fiscal sponsorship program allows the Organization to support individual artists and unincorporated artists groups through the provision of grant and donation-based fundraising opportunites under the Organizations nonprofit umbrella, as well as assitance in the management of their finances. The Orrganization is responsible for collecting funds restricted to the project and disbursing them in accordance with the projects approved guidelines.
Expenses $106,070
-
VAE organizes the bulk of its programming into large-scale projects that include exhibitions and community events. These projects focus on highlighting the creative contributions of people who are often marginalized from the contemporary art world and building trust with new communities. VAE produces between 6 and 20 exhibitions each year, displaying works from a growing array of contemporary artists. In addition to the Organizations main galleries in their flagship location, the Organization also hosts exhibitions in a collection of community exhibition spaces across the greater Triangle.
Expenses $97,911 · Revenue $40,137
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
LaTissa Davis
Director
- Total calculated
- $0
- Hours/week
- 1
-
Gabie Frantz
Director
- Total calculated
- $0
- Hours/week
- 1
-
Pete Harvey
Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Christina Hloros
Chair
- Total calculated
- $0
- Hours/week
- 1
-
Crystal Ricevuto
Co-Chair
- Total calculated
- $0
- Hours/week
- 1
-
Kulsum Tasnif
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lamar Whidbee
Director
- Total calculated
- $0
- Hours/week
- 1
-
Emily Blust
Director
- Total calculated
- $0
- Hours/week
- 1
-
Daniel Culbertson
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jean Grey
Co-Director
- Total calculated
- $0
- Hours/week
- 1
-
Pete Sack
Co-Director
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 30 March 2026
- IRS schema version
- 2024v5.2
- Source object
- 202640899349300639
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