Southern Vermont Arts Center Incorporated in Manchester, Vermont (VT)

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Southern Vermont Arts Center Incorporated
Employer Identification Number (EIN)030186501
Name of OrganizationSouthern Vermont Arts Center Incorporated
AddressPO BOX 617, Manchester, VT 05254-0617
ActivitiesOther cultural or historical activities, Other school related activities
SubsectionEducational Organization
Ruling Date05/1952
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$10,592,859
Amount of Income$1,610,658
Form 990 Revenue Amount$838,289
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts, Cultural Organizations - Multipurpose


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Amount of income in 2013: $1,610,658
This organization: 

 $1,610,658
Other organizations performing similar types of work: 

 $195,015

Assets in 2013: $10,592,859
This organization: 

 $10,592,859
Other organizations performing similar types of work: 

 $137,152

Expenses in 2013: $892,716
Southern Vermont Arts Center Incorporated: 

 $892,716
Other organizations performing similar types of work: 

 $181,390

Income to expenses ratio in 2013: 1.8
This organization: 

 1.8
Other organizations performing similar types of work: 

 1.0

Expenses allocated to program services in 2007: 85.0%
Southern Vermont Arts Center Incorporated: 

 85.0%
Other organizations performing similar types of work: 

 78.4%

Number of employees in 2013: 18
This organization: 

 18
Other organizations performing similar types of work: 

 6

Employees paid over $100,000 in 2013: 5.6%
This organization: 

 5.6%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 54.6%
This organization: 

 54.6%
Other organizations performing similar types of work: 

 49.7%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?NoYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?NoYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYes
Did the organization report an amount for other liabilities?YesNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?NoNo
Did the organization obtain separate, independent audited financial statements for the tax year?NoNo
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?NoNo
Did the organization receive more than $25,000 in non-cash contributions?NoYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 10962245
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?NoNo
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return2018
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$83,758$100,308
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$16,284$0
Total number of individuals who received more than $100,000 of reportable compensation from the organization01
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$981,863$738,490$838,289
Contributions, Gifts, Grants and Other Similar Amounts$451,006$253,263$457,994
Program Service Revenue$138,917$268,272$74,604
0$166,989$42,185
0$55,562$26,060
0$31,781$6,359
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$69,532$41,056$50,650
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$86,668$80,453$140,881
Gross amount from sales of assets other than inventory (Securities / Other)$1,439,724 / $3,647$730,845 / $6,398$794,077 / $11,445
Less: cost or other basis and sales expenses (Securities / Other)$1,356,703 / $0$656,790 / $0$664,641 / $0
Gain or (loss) (Securities / Other)$83,021 / $3,647$74,055 / $6,398$129,436 / $11,445
Net income/loss from fundraising events$79,671$5,946$36,285
Gross income from fundraising events$110,794$10,800$69,066
Less: direct expenses$31,123$4,854$32,781
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$90,646$45,341$52,252
Gross sales of inventory, less returns and allowances$265,549$151,287$127,199
Less: cost of goods sold$174,903$105,946$74,947
Miscellaneous Revenue$65,423$44,159$25,623
0$37,585$25,623
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$1,367,736$1,274,096$892,716
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$0$0$0
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$360,704$334,008$269,100
Pension plan accruals and contributions$0$0
Other employee benefits$52,817$14,793
Payroll taxes$41,907$36,851$27,034
Fees for services (non-employees)
Management$3,436$93,768
Legal$13,657$0
Accounting$30,640$278
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$5,793$9,801
Other$141$0
Advertising and promotion$87,524$31,376
Office expenses$18,410$11,973
Information technology$0$0
Royalties$0$0
Occupancy$115,297$124,483
Travel$0$0
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$1,117$0
Interest$0$3,064
Payments to affiliates$0$0
Depreciation, depletion, and amortization$191,391$192,952
Insurance$53,123$39,723
Other expenses$161,516$58,520
Other expenses$130,790$6,601
Other expenses$16,272$3,113
Other expenses$10,032$2,277
Other expenses$11,281$3,860
Balance Sheet
201120122013
Total assets$10,620,088$10,373,516$10,592,859
Cash - non-interest-bearing$7,784$10,113
Savings and temporary cash investments$119,748$730,420
Pledges and grants receivable, net$0$0
Accounts receivable, net$8,387$15,093
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$261,451$260,910
Prepaid expenses and deferred charges$0$0
Land, buildings, and equipment: cost or other basis$4,636,328$4,484,315
Investments - publicly traded securities$2,784,256$2,967,974
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$2,555,562$2,124,034
Total liabilities$28,493$106,394$6,601
Accounts payable and accrued expenses$10,649$6,601
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$87,500$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$8,245$0
Total net assets or fund balances$10,591,595$10,267,122$10,586,258
Unrestricted net assets$6,112,861$6,076,888
Temporarily restricted net assets$3,879,071$4,203,305
Permanently restricted net assets$275,190$306,065
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$4,006,807
Subtotal$4,804,672
Gifts, grants, contributions, and membership fees received$2,157,310
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$1,000,497
Gross receipts from activities that are not an unrelated trade or business under section 513$1,646,865
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$797,865
Amounts received from disqualified persons$258,546
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$539,319
Total support$5,064,017
Public support$4,804,672
Subtotal$259,345
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$259,345
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$3,014,451$1,485,806$1,427,835$1,264,295$1,409,479$1,542,250$3,387,304$2,741,774
Contributions, gifts, grants, and similar amounts received$1,670,919$286,339$393,970$339,191$423,724$392,504$1,908,307$1,403,215
Contributions to donor advised funds$0$0
Direct public support$1,670,919$286,339$393,970$339,191$423,724$392,504$1,908,307$1,403,215
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$0$0$0$0$0$0$0$0
Program service revenue including government fees and contracts$985,184$792,137$732,174$421,557$638,666$729,515$1,073,937$849,207
Membership dues and assessments$143,943$196,056$213,449$224,426$251,706$244,322$245,068$273,368
Interest on savings and temporary cash investments$46,923$14,053$11,063$4,055$2,583$2,380$2,303$2,296
Dividends and interest from securities$50,869$62,363$54,833$41,681$53,975$73,616$92,658$135,719
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$0$0$0$0$0$0$0$0
Gain or (loss) from sales of assets other than inventory$22,054$-5,472$-26,819$9,300$8,042$40,863$25,422$25,534
Gross amount from sales of assets other than inventory$1,369,900$621,494$290,586$176,560$85,537$666,187$207,223$231,678
Less: cost or other basis and sales expenses$1,347,846$626,966$317,405$167,260$77,495$625,324$181,801$206,144
Net income or (loss) from special events and activities$87,127$121,877$23,171$104,576$23,903$51,979$22,101$47,299
Gross revenue$140,908$527,658$30,421$416,424$36,484$88,630$70,324$90,009
Less: direct expenses other than fundraising expenses$53,781$405,781$7,250$311,848$12,581$36,651$48,223$42,710
Gross profit or (loss) from sales of inventory$7,432$18,453$25,994$119,509$6,880$7,071$17,508$5,136
Gross sales of inventory, less returns and allowances$35,008$63,983$65,654$143,434$24,663$26,474$47,522$28,875
Less: cost of goods sold$27,576$45,530$39,660$23,925$17,783$19,403$30,014$23,739
Other revenue$0$0$0$0$0$0$0$0
Total expenses$1,363,849$1,593,231$1,602,952$1,478,670$1,424,362$1,575,044$1,908,433$1,799,948
Program services$1,159,272$1,354,248$1,362,507$1,256,870$1,210,710$1,338,788$1,622,169$1,529,954
Management and general$136,386$159,323$160,299$147,866$142,436$157,504$190,845$179,997
Fundraising$68,191$79,660$80,146$73,934$71,216$78,752$95,419$89,997
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$9,490,212$9,347,433$9,072,917$9,010,243$8,973,994$8,916,332$10,450,202$11,370,755
Excess or (deficit) for the year$1,650,602$-107,425$-175,117$-214,375$-14,883$-32,794$1,478,871$941,826
Net assets or fund balances at beginning of year$7,896,678$9,490,212$9,347,433$9,072,917$9,010,243$8,973,994$8,916,332$10,450,202
Other changes in net assets or fund balances$-57,068$-35,354$-99,399$151,701$-21,366$-24,868$54,999$-21,273
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,799,948$1,529,954$179,997$89,997
Grants paid from donor advised funds$0
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$69,920$59,432$6,992$3,496
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$329,430$280,015$32,944$16,471
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$42,841$36,415$4,284$2,142
Payroll taxes$33,225$28,241$3,323$1,661
Professional fundraising fees$0$0$0$0
Accounting fees$6,500$5,525$650$325
Legal fees$2,621$2,228$262$131
Supplies$0$0$0$0
Telephone$11,249$9,562$1,125$562
Postage and shipping$9,880$8,398$988$494
Occupancy$236,173$200,747$23,617$11,809
Equipment rental and maintenance$0$0$0$0
Printing and publications$0$0$0$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$5,916$5,029$591$296
Depreciation, depletion, etc.$196,795$167,276$19,679$9,840
Other expenses not covered above$855,398$727,086$85,542$42,770
Balance Sheets
20002001200220032004200520062007
Total assets$10,458,277$9,947,468$9,497,531$9,295,988$9,217,434$9,072,654$10,590,702$11,493,595
Cash - non-interest-bearing$55,477$42,096$28,547$8,590$38,581$41,791$156,455$24,338
Savings and temporary cash investments$1,029,914$163,780$142,910$25,050$23,114$22,371$37,700$10,735
Accounts receivable less allowance for doubtful accounts$13,934$21,111$5,603$107$0$1,291$0$0
Pledges receivable less allowance for doubtful accounts$508,021$236,997$55,513$26,222$5,122$0$899,275$1,308,857
Grants receivable$0$0$0$0$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0$0$0$0$0
Inventories for sale or use$68,792$67,322$74,592$81,325$132,377$128,933$124,087$263,013
Prepaid expenses and deferred charges$19,875$8,193$11,296$19,125$47,112$52,156$29,634$27,607
Investments - publicly-traded securities$1,795,871$2,350,527
Investments - other securities$1,197,090$1,709,167$1,573,850$1,680,642$1,757,705$1,738,755$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0$0$0$0$0
Investments - other$1,182,229$1,254,529$1,385,729$1,438,329$1,524,129$1,555,629$1,644,054$1,684,338
Land, buildings, and equipment less accumulated depreciation$6,299,504$6,297,453$6,072,671$5,869,778$5,689,294$5,531,728$5,386,776$5,260,695
Other assets, including program-related investments$83,441$146,820$146,820$146,820$0$0$516,850$563,485
Total liabilities$968,065$600,035$424,614$285,745$243,440$156,322$140,500$122,840
Accounts payable and accrued expenses$139,623$97,374$22,766$23,101$13,745$11,917$22,800$7,520
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$26,461$32,726$16,630$38,909$37,123$44,405$17,700$15,320
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0$0$0$0$0
Mortgages and other notes payable$2,046$0$0$223,735$192,532$100,000$100,000$100,000
Other liabilities$799,935$469,935$385,218$0$40$0$0$0
Total liabilities and net assets/fund balances$10,458,277$9,947,468$9,497,531$9,295,988$9,217,434$9,072,654$10,590,702$11,493,595
Total net assets or fund balances$9,490,212$9,347,433$9,072,917$9,010,243$8,973,994$8,916,332$10,450,202$11,370,755
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$0$0$0$1,264,295$0$1,542,250$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$1,264,295$0$1,542,250$0$0
Other expenses$0$0$0$0$0$0$0$0
Net unrealized gains on investments$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other revenue$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$0$0$0$1,478,670$0$1,575,044$0$0
Total expenses and losses per audited financial statements$0$0$0$1,478,670$0$1,575,044$0$0
Other revenue$0$0$0$0$0$0$0$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Other expenses$0$0$0$0$0$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$0$0$0$0$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$69,920$0$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings18
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200611
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$484,216$854,343
Program service revenue
Program service revenue 1000000$000$0$289,999
Program service revenue 2000000$000$0$69,947
Program service revenue 3000000$000$0$489,261
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$273,368$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,296$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$135,719$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$25,534$0
Net income or (loss) from special events000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$47,299$0
Gross profit or (loss) from sales of inventory000000$000$0$5,136
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?No
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
19992000200120022003200420052006
Total$1,063,423$2,753,895$1,154,892$1,610,144$1,620,059$1,436,923$1,497,916$2,462,615
Gifts, grants, and contributions received$647,948$1,670,919$286,339$575,454$368,482$428,846$397,626$1,009,032
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$242,437$985,184$792,137$968,794$1,205,841$951,519$1,024,294$1,358,622
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$173,038$97,792$76,416$65,896$45,736$56,558$75,996$94,961
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Southern Vermont Arts Center IncorporatedPO BOX 617, Manchester, VT 05254-0617VT1952-05$1,610,658
2St Anns Warehouse Inc55 Washington St Ste 458, Brooklyn, NY 11201-1059NY1984-01$5,107,486
3The Wichita Center For The Arts Inc9112 E Central Ave, Wichita, KS 67206-2506KS1935-07$3,431,371
4Museum Of Contemporary Art Santa Barbara Inc653 Paseo Nuevo, Santa Barbara, CA 93101-3392CA1979-02$3,272,599
5The Ark117 N 1st St Ste 40, Ann Arbor, MI 48104-1354MI1984-03$3,164,867
6Seward Redesign Inc2619 East Franklin Ave, Minneapolis, MN 55406-1300MN1975-11$2,038,214
7Sesame Flyers International Inc3510 Church Ave, Brooklyn, NY 11203-2804NY1992-03$1,960,263
8White Bear Center For The Arts4971 Long Ave, White Bear Lk, MN 55110-2629MN1968-05$1,938,548
9Sausalito Art Festival FoundationPO BOX 10, Sausalito, CA 94966-0010CA2001-08$1,854,005
10Westport Arts Center51 Riverside Ave, Westport, CT 06880-4215CT1974-05$1,849,261
11Sangre De Cristo Arts & Conference Center Inc210 N Santa Fe Ave, Pueblo, CO 81003-4133CO1972-09$1,809,763
12Catamount Film & Arts CoPO BOX 324, St Johnsbury, VT 05819-0324VT1980-12$832,251
13Vermont Folklife Center88 Main St, Middlebury, VT 05753-1425VT1985-02$380,418
14Green Mountain Cultural Center IncPO BOX 1362, Waitsfield, VT 05673-1362VT1994-03$300,352
15First Night Burlington Inc230 College Street, Burlington, VT 05401-8352VT1984-01$276,969
16Weston Community Association IncPO BOX 126, Weston, VT 05161-0126VT1944-06$229,560
17First Night Rutland LtdPO BOX 97, Rutland, VT 05702-0097VT1993-12$42,425
18First Night St Johnsbury Community Partnership IncPo Box 634, St Johnsbury, VT 05819VT1998-02$0
19Live Art Folklife Center Inc, Live ArtPo Box 367, Chelsea, VT 05038VT1999-12$0
20Vermont Performing Arts League, Folkids Of Vermont294 North Winooski Ave Suite 116b, Burlington, VT 05401VT1978-08$0
Number of organizations performing similar types of work
Alaska4
Alabama5
Arkansas8
Arizona9
California76
Colorado18
Connecticut14
District of Columbia5
Delaware1
Florida33
Georgia11
Hawaii12
Iowa6
Idaho2
Illinois20
Indiana5
Kansas10
Kentucky4
Louisiana11
Massachusetts31
Maryland19
Maine6
Michigan21
Minnesota15
Missouri11
Mississippi2
Montana7
North Carolina27
North Dakota2
Nebraska6
New Hampshire4
New Jersey18
New Mexico4
Nevada2
New York75
Ohio23
Oklahoma4
Oregon11
Pennsylvania38
Rhode Island3
South Carolina5
South Dakota2
Tennessee15
Texas34
Utah8
Virginia24
Vermont10
Washington16
Wisconsin13
West Virginia9
International1
Total720

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