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Nonprofiteer
← FREEPORT ARTS CENTER

Form 990 for tax year 2022

Filed by FREEPORT ARTS CENTER.

Totals

Total revenue
$619,090
Total expenses
$366,182
Contributions and grants received
$472,436
Grants paid
$0
Program service revenue
$35,533
Investment income
$90,541
Other revenue
$20,580
Total assets, end of year
$2,523,739
Total liabilities, end of year
$67,739
Net assets or fund balances, end of year
$2,456,000
Program services expenses (Part IX)
$237,334
Management and general expenses
$100,326
Fundraising expenses
$28,522
Program service expenses (Part III)
$237,334

Program services were 64.8% 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.

  • 1b · Membership dues

    $38,759

  • 1e · Government grants (contributions)

    $314,616

  • 1f · All other contributions, gifts and grants

    $119,061

  • 2a · Program service revenue: ART EDUCATION

    total $28,929 · related or exempt $28,929

  • 2b · Program service revenue: EXHIBITIONS

    total $5,470 · related or exempt $5,470

  • 2c · Program service revenue: ADMISSIONS

    total $1,134 · related or exempt $1,134

  • 3 · Investment income

    total $85,376 · excluded $85,376

  • 6a · Gross rents

    personal property $2,562

  • 6c · Rental income or loss

    personal property $2,562

  • 6d · Net rental income or loss

    total $2,562 · related or exempt $2,562

  • 7a · Gross sales of assets other than inventory

    securities $27,530

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

    securities $22,365

  • 7c · Gain or loss

    securities $5,165

  • 7d · Net gain or loss

    total $5,165 · related or exempt $5,165

  • 8a · Fundraising events: gross income

    $35,794

  • 8b · Fundraising events: direct expenses

    $21,768

  • 8c · Net income from fundraising events

    total $14,026

  • 10a · Gross sales of inventory

    $1,583

  • 10b · Cost of goods sold

    $785

  • 10c · Net income from sales of inventory

    total $798 · related or exempt $798

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $3,194 · related or exempt $3,194

  • 11e · Other revenue, total

    $3,194

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $75,000 · program services $30,000 · management and general $30,000 · fundraising $15,000

  • 7 · Other salaries and wages

    total $84,613 · program services $65,085 · management and general $12,176 · fundraising $7,352

  • 9 · Other employee benefits

    total $3,096 · program services $2,736 · management and general $210 · fundraising $150

  • 10 · Payroll taxes

    total $12,125 · program services $7,220 · management and general $3,209 · fundraising $1,696

  • 11b · Fees: legal

    total $6,865 · management and general $6,865

  • 11c · Fees: accounting

    total $25,647 · program services $4,167 · management and general $20,502 · fundraising $978

  • 11f · Fees: investment management

    total $6,965 · management and general $6,965

  • 12 · Advertising and promotion

    total $3,471 · program services $2,379 · fundraising $1,092

  • 13 · Office expenses

    total $3,901 · program services $858 · management and general $1,209 · fundraising $1,834

  • 16 · Occupancy

    total $22,659 · program services $21,443 · management and general $796 · fundraising $420

  • 20 · Interest

    total $6,759 · management and general $6,759

  • 22 · Depreciation, depletion and amortization

    total $25,302 · program services $24,027 · management and general $1,275

  • 23 · Insurance

    total $10,271 · program services $3,241 · management and general $7,030

  • 24a · Other expenses: REPAIRS & MAINTENANCE

    total $28,107 · program services $28,107

  • 24b · Other expenses: EDUCATION & OUTREACH

    total $25,823 · program services $25,823

  • 24c · Other expenses: EXHIBITIONS

    total $14,903 · program services $14,903

  • 24d · Other expenses: GRANT EXPENSE

    total $7,345 · program services $7,345

  • 24e · All other expenses

    total $3,330 · management and general $3,330

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $243,714 · end of year $355,970

  • 2 · Savings and temporary cash investments

    beginning of year $871,709 · end of year $902,835

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

    $1,663,159

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

    $398,225

  • 10c · Land, buildings and equipment, net

    beginning of year $1,249,456 · end of year $1,264,934

  • 17 · Accounts payable and accrued expenses

    beginning of year $790 · end of year $577

  • 23 · Secured mortgages and notes payable

    beginning of year $153,162 · end of year $67,162

  • 27 · Net assets without donor restrictions

    beginning of year $1,517,623 · end of year $1,678,099

  • 28 · Net assets with donor restrictions

    beginning of year $693,304 · end of year $777,901

Mission and programs · 2022

Mission

TO PROMOTE AN UNDERSTANDING OF ART AND CULTURE THROUGH COLLECTIONS, EXHIBITIONS, AND EDUCATION.

Activities or mission (Part I)

TO ENHANCE AND PROMOTE THE HISTORICAL AND CULTURAL EDUCATION OF THE COMMUNITY.

  • ART MUSEUM - VISITORS TO EXHIBITS AND COLLECTIONS INCLUDING OFF-SITE ACTIVITIES. MUSEUM ALSO PROVIDES CLASSES FOR ADULTS AND CHILDREN IN THE VISUAL AND PERFORMING ARTS.

    Expenses $237,334 · Revenue $35,533

As filed on the 2022 return.

Listed in Part VII

  • Jessica Modica

    EXECUTIVE DI

    Total calculated
    $75,000
    From this org
    $75,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Mark Durein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Josh Elliott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyle Fleischer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elizabeth Foley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Heyen

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Vanessa Hughes

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Jill Laballister

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mariah Leiser

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Aaron Mercier

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Joy Sellers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Neal Trainor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shannon Wenzel

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dean Wright

    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
2022
Filed
12 February 2024
IRS schema version
2022v5.0
Source object
202430529349301148

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