Civic Intelligence

Valley Arts Inc

990 • Fiscal year 2015 • EIN 26-1613016

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 20, 2015

Organization ProfileWWW.VALLEYARTSNJ.COM
400 South Jefferson Street 10Orange, NJ 07050

(973) 674-0183

Siviq Scores

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

Liabilities / Assets

98th percentile

4.68x

Higher debt load relative to assets than 98% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

90th percentile

0.34x

Higher debt load relative to revenue than 90% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

10th percentile

-35%

Higher net margin than 10% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

4th percentile

-80%

Faster asset growth than 4% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

37th percentile

-7.2%

Faster revenue growth than 37% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$25,060

Down $102,860 (-80%) from 2014

Net Assets

Down

-$92,204

Down $122,480 (-405%) from 2014

Liabilities

Up

$117,264

Up $19,620 (+20%) from 2014

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin10th percentile

Revenue

Down

$347,147

Down $26,889 (-7.2%) from 2014

Expenses

Up

$469,627

Up $98,307 (+26%) from 2014

Net Income

Down

-$122,480

Down $125,196 (-4610%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth4th percentile

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

$200K$100K$0-$100KAssets 2014: $127,920Liabilities 2014: $97,644Net Assets 2014: $30,2762014Assets 2015: $25,060Liabilities 2015: $117,264Net Assets 2015: -$92,2042015Assets 2016: $48,349Liabilities 2016: $62,232Net Assets 2016: -$13,8832016Assets 2017: $37,061Liabilities 2017: $33,850Net Assets 2017: $3,2112017Assets 2018: $35,055Liabilities 2018: $46,870Net Assets 2018: -$11,8152018

Highlighted filing

2015

Assets$25,060
Liabilities$117,264
Net Assets-$92,204
Open 2015 Filing

Operations Trend

Revenue Growth37th percentile

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

$600K$400K$200K$0-$200KRevenue 2014: $374,036Expenses 2014: $371,320Net Income 2014: $2,7162014Revenue 2015: $347,147Expenses 2015: $469,627Net Income 2015: -$122,4802015Revenue 2016: $407,476Expenses 2016: $329,155Net Income 2016: $78,3212016Revenue 2017: $244,451Expenses 2017: $236,292Net Income 2017: $8,1592017Revenue 2018: $246,434Expenses 2018: $261,460Net Income 2018: -$15,0262018

Highlighted filing

2015

Revenue$347,147
Expenses$469,627
Net Income-$122,480
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 20, 2015
Return Version
2014v5.0
Gross Receipts
$347,147
Mission and Program Overview

Mission

To inspire the neighborhood to recognize the arts as essential to community health and vitality; help build up and serve individual artists, arts organizations and creative entrepreneurs; and encourage everyone to participate in arts, culture and creativity as part of every day life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$91,870$46,848▼ $45,022
Other Notes and Loans Receivable, Net$7,000$7,000→ $0
Loans From Officers Directors$2,000$2,000→ $0
Prepaid Expenses and Deferred Charges$1,165$509▼ $656
Cash and Non-Interest-Bearing Accounts$24,802$-31,378▼ $56,180
Total Assets$127,920$25,060▼ $102,860
Other Assets Total$3,083$2,081▼ $1,002
Liabilities
Accounts Payable and Accrued Expenses$30,347$79,345▲ $48,998
Unsecured Notes Loans Payable$54,186$29,418▼ $24,768
Other Liabilities$11,111$6,501▼ $4,610
Total Liabilities$97,644$117,264▲ $19,620
Net Assets / Fund Balance
Unrestricted Net Assets$30,276$-92,204▼ $122,480
Total Net Assets Fund Balance$30,276$-92,204▼ $122,480
Total Liabilities and Net Assets / Fund Balance$127,920$25,060▼ $102,860

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$400--
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Scott SchultzBoard Chair
Deborah Bartley-carterTrustee
Dr Karma WarrenTrustee
Gail LevinsonTrustee
Jeremy MossTrustee
Patrick MorrissyTrustee
Susan Mc CartneyTrustee
John NyeSecretary
Wayne MeyerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$298,083
Program Service Revenue
$47,690
Investment Income
$0
Other Revenue
$1,374
All Other Contributions
$132,514
Change in Net Assets
$-122,480
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$306,019
Salaries, Compensation, and Employee Benefits$163,608
Total Fundraising Expense$16,083
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$35,421$114,526$13,661$163,608
Occupancy$33,000$12,000-$45,000
Fees for Services Other$12,816--$12,816
Fees for Services Accounting-$8,377-$8,377
Interest-$4,828-$4,828
Other Expenses$4,667--$4,667
Insurance$1,269$2,960-$4,229
Office Expenses-$3,227$347$3,574
Advertising$3,149-$350$3,499
All Other Expenses--$1,725$1,725
Total Functional Expenses$307,626$145,918$16,083$469,627
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$2,000$2,000→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards$6,144
Sales Tax Payable$287
Other Payable$70
Unearned Income-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“1. Name of management company - bryant associates, llc dba front of house services 2. Description of services provided to the organization - provides outsourced management, marketing and fundraising service to the organization. 3. Richard bryant is the current executive director of valley arts, inc. And he is the owner of bryant asosciates, lcl (management company) 4. Bryant associates, llc received for its management services (note that this amount is alaso reflected in part vii, section "a" as rechard bryant's executive director compensation.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed at board meeting prior to filing”

Form 990, Page 6, Part VI, Line 12C

“UPON REQUEST”

Form 990, Page 6, Part VI, Line 15A

“Compensation of the executive director is reviewed and approved by the board members.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Valley Arts Inc
EIN
26-1613016
Phone
9736740183
Address
400 SOUTH JEFFERSON STREET 10, ORANGE, NJ 07050

Signing Officer

Name
Scott Schultz
Title
Board Chair
Phone
9736740183
Signed
2015-10-20

Organization Details

Formed
2008
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
105

Preparer

Firm
Joseph L Gomeringer CPA
Address
PO BOX 487, CHESTER, NJ 07930-0487
Preparer
Joseph L Gomeringer
Phone
9088797603
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To inspire the neighborhood to recognize the arts as essential to community health and vitality; help build up and serve individual artists, arts organizations and creative entrepreneurs; and encourage everyone to participate in arts, culture and creativity as part of every day life.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO INSPIRE THE NEIGHBORHOOD TO RECOGNIZE THE ARTS AS ESSENTIAL TO COMMUNITY HEALTH AND VITALITY; HELP BUILD UP AND SERVE INDIVIDUAL ARTISTS, ARTS ORGANIZATIONS AND CREATIVE ENTREPRENEURS; AND ENCOURAGE EVERYONE TO PARTICIPATE IN ARTS, CULTURE AND CREATIVITY AS PART OF EVERY DAY LIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11. NAME OF MANAGEMENT COMPANY - BRYANT ASSOCIATES, LLC DBA FRONT OF HOUSE SERVICES 2. DESCRIPTION OF SERVICES PROVIDED TO THE ORGANIZATION - PROVIDES OUTSOURCED MANAGEMENT, MARKETING AND FUNDRAISING SERVICE TO THE ORGANIZATION. 3. RICHARD BRYANT IS THE CURRENT EXECUTIVE DIRECTOR OF VALLEY ARTS, INC. AND HE IS THE OWNER OF BRYANT ASOSCIATES, LCL (MANAGEMENT COMPANY) 4. BRYANT ASSOCIATES, LLC RECEIVED FOR ITS MANAGEMENT SERVICES (NOTE THAT THIS AMOUNT IS ALASO REFLECTED IN PART VII, SECTION "A" AS RECHARD BRYANT'S EXECUTIVE DIRECTOR COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS REVIEWED AT BOARD MEETING PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF THE EXECUTIVE DIRECTOR IS REVIEWED AND APPROVED BY THE BOARD MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/WebsiteAddressTxt0WWW.VALLEYARTSNJ.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/PersonNm0SCOTT SCHULTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum09736740183
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-10-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VALLEY ARTS INC
ReturnHeader/Filer/BusinessNameControlTxt0VALL
ReturnHeader/Filer/EIN0261613016
ReturnHeader/Filer/PhoneNum09736740183
ReturnHeader/Filer/USAddress/AddressLine1Txt0400 SOUTH JEFFERSON STREET 10
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 487
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0079300487
ReturnHeader/PreparerPersonGrp/PhoneNum09088797603
ReturnHeader/PreparerPersonGrp/PreparationDt02015-10-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH L GOMERINGER
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02015-10-26T11:48:39-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$25,060
Liabilities
$117,264
Net assets
-$92,204
Revenue
$347,147
Expenses
$469,627
Net income
-$122,480
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.35$0.47$0.12$2.46$2.61$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.37$0.34$0.03$2.44$2.36$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.48$0.62$0.14$4.07$3.29$0.78
2015Detailed filing. Detailed filing data is available for this year.$0.25$1.17$0.92$3.47$4.70$1.22
2014Detailed filing. Detailed filing data is available for this year.$1.28$0.98$0.30$3.74$3.71$0.03