Civic Intelligence

Visual Arts Research & Resource Center Relating to the Caribbean Inc

990 • Fiscal year 2016 • EIN 13-3054001

Jul 01, 2015 to Jun 30, 2016 • Filed on Apr 06, 2017

1825 PARK AVENUE Room 602New York, NY 10035

(212) 307-7420

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.07x

Higher debt load relative to assets than 53% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

67th percentile

0.21x

Higher debt load relative to revenue than 67% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Net Margin

7th percentile

-54%

Higher net margin than 7% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

33rd percentile

$0

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • NTEE A • $1M-$5M nonprofits • Source year 2016

Asset Growth

6th percentile

-20%

Faster asset growth than 6% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

15th percentile

-29%

Faster revenue growth than 15% of similar nonprofits.

2016 filings • NTEE A • $1M-$5M nonprofits • Annualized from 2015 to 2016

Assets

Down

$1,929,617

Down $468,450 (-20%) from 2015

Net Assets

Down

$1,785,688

Down $368,766 (-17%) from 2015

Liabilities

Down

$143,929

Down $99,684 (-41%) from 2015

Revenue

Down

$680,658

Down $282,072 (-29%) from 2015

Expenses

Up

$1,049,424

Up $156,770 (+18%) from 2015

Net Income

Down

-$368,766

Down $438,842 (-626%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $1,291,836Liabilities 2011: $1,038,348Net Assets 2011: $253,4882011Assets 2012: $2,569,089Liabilities 2012: $33,317Net Assets 2012: $2,535,7722012Assets 2013: $2,122,797Liabilities 2013: $179,550Net Assets 2013: $1,943,2472013Assets 2014: $2,254,809Liabilities 2014: $170,431Net Assets 2014: $2,084,3782014Assets 2015: $2,398,067Liabilities 2015: $243,613Net Assets 2015: $2,154,4542015Assets 2016: $1,929,617Liabilities 2016: $143,929Net Assets 2016: $1,785,6882016Assets 2017: $10,584,838Liabilities 2017: $406,555Net Assets 2017: $10,178,2832017Assets 2018: $9,925,171Liabilities 2018: $142,322Net Assets 2018: $9,782,8492018Assets 2019: $9,633,537Liabilities 2019: $92,099Net Assets 2019: $9,541,4382019Assets 2020: $10,323,596Liabilities 2020: $210,594Net Assets 2020: $10,113,0022020Assets 2021: $10,430,106Liabilities 2021: $123,291Net Assets 2021: $10,306,8152021Assets 2022: $10,240,101Liabilities 2022: $124,556Net Assets 2022: $10,115,5452022Assets 2023: $11,389,814Liabilities 2023: $1,361,041Net Assets 2023: $10,028,7732023Assets 2024: $11,826,013Liabilities 2024: $1,549,824Net Assets 2024: $10,276,1892024

Highlighted filing

2016

Assets$1,929,617
Liabilities$143,929
Net Assets$1,785,688

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $535,887Expenses 2011: $624,911Net Income 2011: -$89,0242011Revenue 2012: $2,955,440Expenses 2012: $673,156Net Income 2012: $2,282,2842012Revenue 2013: $308,328Expenses 2013: $900,855Net Income 2013: -$592,5272013Revenue 2014: $851,019Expenses 2014: $709,886Net Income 2014: $141,1332014Revenue 2015: $962,730Expenses 2015: $892,654Net Income 2015: $70,0762015Revenue 2016: $680,658Expenses 2016: $1,049,424Net Income 2016: -$368,7662016Revenue 2017: $9,828,879Expenses 2017: $1,436,284Net Income 2017: $8,392,5952017Revenue 2018: $1,125,837Expenses 2018: $1,521,271Net Income 2018: -$395,4342018Revenue 2019: $1,275,511Expenses 2019: $1,516,921Net Income 2019: -$241,4102019Revenue 2020: $2,005,011Expenses 2020: $1,433,447Net Income 2020: $571,5642020Revenue 2021: $1,980,042Expenses 2021: $1,786,229Net Income 2021: $193,8132021Revenue 2022: $1,877,668Expenses 2022: $2,079,613Net Income 2022: -$201,9452022Revenue 2023: $2,192,680Expenses 2023: $2,340,316Net Income 2023: -$147,6362023Revenue 2024: $2,543,351Expenses 2024: $2,274,677Net Income 2024: $268,6742024

Highlighted filing

2016

Revenue$680,658
Expenses$1,049,424
Net Income-$368,766
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Apr 6, 2017
Return Version
2015v3.0
Gross Receipts
$680,658
Mission and Program Overview

Mission

Varrc dba cccadi - is an organization that values, connects and advocates for the traditions, history, culture and advancement of the african diaspora. Through research, educational programs and the creative arts, we prepare individuals to be active participants in the creation of holistic communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$758,592$432,185▼ $326,407
Accounts Receivable$575,801$177,869▼ $397,932
Prepaid Expenses and Deferred Charges$8,416$7,048▼ $1,368
Land, Buildings, and Equipment, Net$1,260$756▼ $504
Total Assets$2,398,067$1,929,617▼ $468,450
Other Assets Total$1,053,998$1,311,759▲ $257,761
Liabilities
Other Liabilities$204,790$125,028▼ $79,762
Accounts Payable and Accrued Expenses$38,823$18,901▼ $19,922
Total Liabilities$243,613$143,929▼ $99,684
Net Assets / Fund Balance
Unrestricted Net Assets$1,500,852$1,676,185▲ $175,333
Temporarily Rstr Net Assets$653,602$109,503▼ $544,099
Total Net Assets Fund Balance$2,154,454$1,785,688▼ $368,766
Total Liabilities and Net Assets / Fund Balance$2,398,067$1,929,617▼ $468,450

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$756$436,941$437,697
Other Assets Org$1,304,759--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$622,101
Program Service Revenue
$57,907
Investment Income
$400
Other Revenue
$250
All Other Contributions
$127,269
Change in Net Assets
$-368,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$628,290
Salaries, Compensation, and Employee Benefits$421,134
Total Fundraising Expense$123,183
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$254,295$56,006$30,334$340,635
Comp Disqual Persons$180,913$31,020$40,084$252,017
Current Officers, Directors, Trustees, and Key Employees$76,106$5,435$27,181$108,722
Travel$65,707$3,042$3,043$71,792
Occupancy$52,367$9,091$7,144$68,602
Fees for Services Accounting-$59,046-$59,046
Payroll Taxes$32,688$7,040$5,532$45,260
Pension Plan Contributions$10,594$1,038$3,503$15,135
Insurance$9,702$2,147$1,952$13,801
Other Expenses$9,275$138$109$9,522
Fees for Services Legal-$5,270-$5,270
Interest$3,459$1,020$585$5,064
Depreciation Depletion$364$78$62$504
Total Functional Expenses$741,217$185,024$123,183$1,049,424
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$105,794
Retirement Plan$19,234
Refundable Advances-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

There is no committee, only a board of directors is the governing body.

Form 990, Part VI, Section A, Line 11A

A copy of the form 990 is made available at the board meeting for review and comment. Marta vega, the president, sends the form via email for the board to review and comment. The board meets twice a year, at which time they approve the organizations budget and. The board also has prearranged telephone meetings to review the operation of the organization.

Form 990, Part VI, Section B, Line 15A

Chairperson calls meeting. The board reviews and votes. Secretary sends board minutes of decisions reached. After a collective preview, the president sends the salary report to the board members via email for their review and comments.

Filing and Contact Details

Filer

Filer Name
Visual Arts Research & Resource Center Relating to the Caribbean Inc
EIN
13-3054001
Phone
2123077420
Address
1825 PARK AVENUE Room 602, NEW YORK, NY 10035

Signing Officer

Name
Marta M Vega
Title
President
Signed
2017-04-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Marta M Vega
Formed
1977
Legal Domicile
Ny
Voting Board Members
6
Independent Board Members
0
Employees
9

Preparer

Firm
Michael Lee and Co
Address
1825 PARK AVENUE, NEW YORK, NY 10035
Preparer
Michael Lee
Phone
2128628600
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

The visual arts research resource center relating to the caribbean similar to other multidisiplanary organizations has exhibitions, scholarly panels on a diversity of topic arears relating to culture, art, history and social justice issues. The center collaborates with other organization in program reaching a significant audience with its programs. We have collaborated with organizations that have similar missions and visions focused on particular ethnic groups that are integral to the cultural life of the nation. These organizations include schomburg library for research in black cultures, el museo del barrio, image nation, new york university, inter american university in puerto rico and more. The centers programs are directed to all audiences with special focus on communities of african descent from the caribbean, latin, central and north americas. Important to the centers mission is educational cultural arts programs that impact public school students, higher education and the general adult public.

Form 990, Part III, Line 1

The programs focused on african diaspora cultures in the americas reflect a mulidisciplinary approach to presenting educational cultural programs that provide historical popular and contemporary artistice modes of expressions documenting the contributions of the rich cultural traditions of africans ion the americas. Through in school artists program, visual arts exhibitions, performing art presentation and scholarly conferences the african descent histories and traditions are shared with our audiences that range from children to adults.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1NYOKA ACEVEDO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2FRANCISCO DIAZ JR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3SANDINO SANCHEZ
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE IS NO COMMITTEE, ONLY A BOARD OF DIRECTORS IS THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 IS MADE AVAILABLE AT THE BOARD MEETING FOR REVIEW AND COMMENT. MARTA VEGA, THE PRESIDENT, SENDS THE FORM VIA EMAIL FOR THE BOARD TO REVIEW AND COMMENT. THE BOARD MEETS TWICE A YEAR, AT WHICH TIME THEY APPROVE THE ORGANIZATIONS BUDGET AND. THE BOARD ALSO HAS PREARRANGED TELEPHONE MEETINGS TO REVIEW THE OPERATION OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CHAIRPERSON CALLS MEETING. THE BOARD REVIEWS AND VOTES. SECRETARY SENDS BOARD MINUTES OF DECISIONS REACHED. AFTER A COLLECTIVE PREVIEW, THE PRESIDENT SENDS THE SALARY REPORT TO THE BOARD MEMBERS VIA EMAIL FOR THEIR REVIEW AND COMMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE VISUAL ARTS RESEARCH RESOURCE CENTER RELATING TO THE CARIBBEAN SIMILAR TO OTHER MULTIDISIPLANARY ORGANIZATIONS HAS EXHIBITIONS, SCHOLARLY PANELS ON A DIVERSITY OF TOPIC AREARS RELATING TO CULTURE, ART, HISTORY AND SOCIAL JUSTICE ISSUES. THE CENTER COLLABORATES WITH OTHER ORGANIZATION IN PROGRAM REACHING A SIGNIFICANT AUDIENCE WITH ITS PROGRAMS. WE HAVE COLLABORATED WITH ORGANIZATIONS THAT HAVE SIMILAR MISSIONS AND VISIONS FOCUSED ON PARTICULAR ETHNIC GROUPS THAT ARE INTEGRAL TO THE CULTURAL LIFE OF THE NATION. THESE ORGANIZATIONS INCLUDE SCHOMBURG LIBRARY FOR RESEARCH IN BLACK CULTURES, EL MUSEO DEL BARRIO, IMAGE NATION, NEW YORK UNIVERSITY, INTER AMERICAN UNIVERSITY IN PUERTO RICO AND MORE. THE CENTERS PROGRAMS ARE DIRECTED TO ALL AUDIENCES WITH SPECIAL FOCUS ON COMMUNITIES OF AFRICAN DESCENT FROM THE CARIBBEAN, LATIN, CENTRAL AND NORTH AMERICAS. IMPORTANT TO THE CENTERS MISSION IS EDUCATIONAL CULTURAL ARTS PROGRAMS THAT IMPACT PUBLIC SCHOOL STUDENTS, HIGHER EDUCATION AND THE GENERAL ADULT PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROGRAMS FOCUSED ON AFRICAN DIASPORA CULTURES IN THE AMERICAS REFLECT A MULIDISCIPLINARY APPROACH TO PRESENTING EDUCATIONAL CULTURAL PROGRAMS THAT PROVIDE HISTORICAL POPULAR AND CONTEMPORARY ARTISTICE MODES OF EXPRESSIONS DOCUMENTING THE CONTRIBUTIONS OF THE RICH CULTURAL TRADITIONS OF AFRICANS ION THE AMERICAS. THROUGH IN SCHOOL ARTISTS PROGRAM, VISUAL ARTS EXHIBITIONS, PERFORMING ART PRESENTATION AND SCHOLARLY CONFERENCES THE AFRICAN DESCENT HISTORIES AND TRADITIONS ARE SHARED WITH OUR AUDIENCES THAT RANGE FROM CHILDREN TO ADULTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 11a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$11.8$1.55$10.3$2.54$2.27$0.27
2023Detailed filing. Detailed filing data is available for this year.$11.4$1.36$10.0$2.19$2.34$0.15
2022Detailed filing. Detailed filing data is available for this year.$10.2$0.12$10.1$1.88$2.08$0.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$0.12$10.3$1.98$1.79$0.19
2020Detailed filing. Detailed filing data is available for this year.$10.3$0.21$10.1$2.01$1.43$0.57
2019Detailed filing. Detailed filing data is available for this year.$9.63$0.09$9.54$1.28$1.52$0.24
2018Detailed filing. Detailed filing data is available for this year.$9.93$0.14$9.78$1.13$1.52$0.40
2017Detailed filing. Detailed filing data is available for this year.$10.6$0.41$10.2$9.83$1.44$8.39
2016Detailed filing. Detailed filing data is available for this year.$1.93$0.14$1.79$0.68$1.05$0.37
2015Detailed filing. Detailed filing data is available for this year.$2.40$0.24$2.15$0.96$0.89$0.07
2014Detailed filing. Detailed filing data is available for this year.$2.25$0.17$2.08$0.85$0.71$0.14
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.12$0.18$1.94$0.31$0.90$0.59
2012Summary only. Only limited summary data is available for this year.$2.57$0.03$2.54$2.96$0.67$2.28
2011Summary only. Only limited summary data is available for this year.$1.29$1.04$0.25$0.54$0.62$0.09