Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $5,680,021

• 1f · All other contributions, gifts and grants

  $613,713

• 2a · Program service revenue: State Arts Agency Dues

  total $348,147 · related or exempt $348,147

• 2f · All other program service revenue

  total $20,333 · related or exempt $20,333

• 3 · Investment income

  total $317,005 · excluded $317,005

• 7a · Gross sales of assets other than inventory

  securities $7,017,504

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

  securities $6,877,947

• 7c · Gain or loss

  securities $139,557

• 7d · Net gain or loss

  total $139,557 · excluded $139,557

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,569,282 · program services $5,569,282

• 2 · Grants to domestic individuals

  total $74,500 · program services $74,500

• 5 · Compensation of officers, directors and key employees

  total $455,272 · program services $67,267 · management and general $218,717 · fundraising $169,288

• 7 · Other salaries and wages

  total $1,450,326 · program services $832,196 · management and general $595,693 · fundraising $22,437

• 8 · Pension plan contributions

  total $83,510 · program services $51,871 · management and general $31,123 · fundraising $516

• 9 · Other employee benefits

  total $219,927 · program services $128,287 · management and general $84,493 · fundraising $7,147

• 10 · Payroll taxes

  total $142,565 · program services $68,999 · management and general $60,567 · fundraising $12,999

• 11b · Fees: legal

  total $65,162 · program services $8,807 · management and general $56,355

• 11c · Fees: accounting

  total $85,460 · management and general $85,460

• 11f · Fees: investment management

  total $68,460 · management and general $68,460

• 11g · Fees: other

  total $609,731 · program services $533,649 · management and general $63,235 · fundraising $12,847

• 12 · Advertising and promotion

  total $75,875 · program services $48,792 · management and general $23,425 · fundraising $3,658

• 13 · Office expenses

  total $16,219 · program services $14,858 · management and general $962 · fundraising $399

• 16 · Occupancy

  total $170,919 · program services $72,020 · management and general $85,541 · fundraising $13,358

• 17 · Travel

  total $184,937 · program services $149,513 · management and general $35,278 · fundraising $146

• 19 · Conferences, conventions and meetings

  total $33,349 · program services $14,905 · management and general $18,395 · fundraising $49

• 22 · Depreciation, depletion and amortization

  total $17,247 · management and general $17,247

• 23 · Insurance

  total $30,895 · program services $12,825 · management and general $15,629 · fundraising $2,441

• 24a · Other expenses: Equipment and Technolog

  total $201,290 · program services $156,781 · management and general $37,479 · fundraising $7,030

• 24e · All other expenses

  total $10,861 · program services $3,301 · management and general $6,019 · fundraising $1,541

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,221,580 · end of year $596,414

• 3 · Pledges and grants receivable

  beginning of year $656,797 · end of year $347,637

• 4 · Accounts receivable

  beginning of year $372,078 · end of year $409,576

• 9 · Prepaid expenses and deferred charges

  beginning of year $77,768 · end of year $88,143

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

  $101,510

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

  $45,816

• 10c · Land, buildings and equipment, net

  beginning of year $65,491 · end of year $55,694

• 11 · Investments: publicly traded securities

  beginning of year $9,625,876 · end of year $9,369,593

• 15 · Other assets

  beginning of year $1,671,087 · end of year $1,161,644

• 17 · Accounts payable and accrued expenses

  beginning of year $174,752 · end of year $226,258

• 18 · Grants payable

  beginning of year $1,122,485 · end of year $663,047

• 19 · Deferred revenue

  end of year $141,198

• 25 · Other liabilities

  beginning of year $816,258 · end of year $670,569

• 27 · Net assets without donor restrictions

  beginning of year $8,472,659 · end of year $8,632,385

• 28 · Net assets with donor restrictions

  beginning of year $4,104,523 · end of year $1,695,244

The filer's explanations (Part III)

Part I, Line 7

The President & CEO's bonus is based on the discretion of the Executive Committee. Bonuses for others are based on the discretion of the management team.