Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $171,400

• 1d · Related organizations

  $1,666,633

• 1e · Government grants (contributions)

  $141,820

• 1f · All other contributions, gifts and grants

  $13,691,061

• 1g · Noncash contributions included above

  $1,851,273

• 2a · Program service revenue: BOARD LEADERSHIP TRAIN

  total $66,257 · related or exempt $66,257

• 3 · Investment income

  total $417,898 · excluded $417,898

• 7a · Gross sales of assets other than inventory

  securities $1,849,548

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

  securities $1,849,548

• 7c · Gain or loss

  securities $0

• 7d · Net gain or loss

  total $0

• 8a · Fundraising events: gross income

  $87,857

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

  $171,400

• 8b · Fundraising events: direct expenses

  $161,015

• 8c · Net income from fundraising events

  total -$73,158 · excluded -$73,158

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $12,277,413 · program services $12,277,413

• 5 · Compensation of officers, directors and key employees

  total $585,922 · program services $195,289 · management and general $221,896 · fundraising $168,737

• 7 · Other salaries and wages

  total $1,220,243 · program services $268,995 · management and general $644,665 · fundraising $306,583

• 8 · Pension plan contributions

  total $53,493 · program services $13,751 · management and general $25,665 · fundraising $14,077

• 9 · Other employee benefits

  total $178,691 · program services $45,933 · management and general $85,732 · fundraising $47,026

• 10 · Payroll taxes

  total $147,548 · program services $37,928 · management and general $70,791 · fundraising $38,829

• 11c · Fees: accounting

  total $56,963 · management and general $56,963

• 11g · Fees: other

  total $280,550 · program services $195,772 · management and general $84,778

• 12 · Advertising and promotion

  total $36,166 · program services $16,938 · management and general $8,841 · fundraising $10,387

• 13 · Office expenses

  total $16,168 · program services $1,165 · management and general $10,664 · fundraising $4,339

• 14 · Information technology

  total $79,624 · program services $9,619 · management and general $50,310 · fundraising $19,695

• 16 · Occupancy

  total $138,226 · program services $6,911 · management and general $122,100 · fundraising $9,215

• 17 · Travel

  total $32,985 · program services $8,780 · management and general $17,123 · fundraising $7,082

• 19 · Conferences, conventions and meetings

  total $108,217 · program services $62,674 · management and general $45,543

• 22 · Depreciation, depletion and amortization

  total $33,000 · program services $1,650 · management and general $29,150 · fundraising $2,200

• 23 · Insurance

  total $21,536 · program services $1,077 · management and general $19,023 · fundraising $1,436

• 24a · Other expenses: DUES & PUBLICATIONS

  total $39,565 · program services $8,413 · management and general $22,901 · fundraising $8,251

• 24b · Other expenses: PROFESSIONAL DEVELOPMEN

  total $19,405 · program services $6,658 · management and general $12,747

• 24c · Other expenses: BAD DEBT

  total $10,386 · program services $519 · management and general $1,083 · fundraising $8,784

• 24d · Other expenses: COLLABS & PARTNERSHIPS

  total $6,945 · program services $2,786 · management and general $3,173 · fundraising $986

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,585,224 · end of year $3,120,521

• 2 · Savings and temporary cash investments

  beginning of year $3,346,351 · end of year $5,409,823

• 3 · Pledges and grants receivable

  beginning of year $1,338,938 · end of year $972,406

• 9 · Prepaid expenses and deferred charges

  beginning of year $70,666 · end of year $87,768

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

  $567,787

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

  $552,413

• 10c · Land, buildings and equipment, net

  beginning of year $48,374 · end of year $15,374

• 14 · Intangible assets

  beginning of year $34,868 · end of year $34,868

• 17 · Accounts payable and accrued expenses

  beginning of year $496,483 · end of year $1,973,957

• 27 · Net assets without donor restrictions

  beginning of year $6,236,994 · end of year $7,060,859

• 28 · Net assets with donor restrictions

  beginning of year $690,944 · end of year $605,944

The filer's explanations (Part III)

PART I, LINE 3

THE ARTSFUND USES THE FOLLOWING METHODS TO DETERMINE THE COMPENSATION THAT IT PAYS TO MICHAEL GREER: THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE AND FINANCE COMMITTEE REVIEWS THE PERFORMANCE TO DETERMINE THE PRESIDENT/CEO TOTAL COMPENSATION PACKAGE. THE BOARD VOTES ON THE RECOMMENDED COMPENSATION PACKAGE AND APPROVES MEASURABLE GOALS AND OBJECTIVES FOR THE PRESIDENT/CEO. THIS PROCESS WAS LAST COMPLETED OCTOBER 2024.