Civic Intelligence

Valley Arts Inc

990 • Fiscal year 2016 • EIN 26-1613016

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 27, 2017

Organization Profilewww.valleyartsnj.com
400 South Jefferson StreetOrange, NJ 07050

(862) 252-7035

Siviq Scores

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

Liabilities / Assets

96th percentile

1.29x

Higher debt load relative to assets than 96% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

85th percentile

0.15x

Higher debt load relative to revenue than 85% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

76th percentile

19%

Higher net margin than 76% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

76th percentile

$1,000

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

90th percentile

93%

Faster asset growth than 90% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

71st percentile

17%

Faster revenue growth than 71% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$48,349

Up $23,289 (+93%) from 2015

Net Assets

Up

-$13,883

Up $78,321 (+85%) from 2015

Liabilities

Down

$62,232

Down $55,032 (-47%) from 2015

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin76th percentile

Revenue

Up

$407,476

Up $60,329 (+17%) from 2015

Expenses

Down

$329,155

Down $140,472 (-30%) from 2015

Net Income

Up

$78,321

Up $200,801 (+164%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth90th 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

2016

Assets$48,349
Liabilities$62,232
Net Assets-$13,883
Open 2016 Filing

Operations Trend

Revenue Growth71st 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

2016

Revenue$407,476
Expenses$329,155
Net Income$78,321
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 27, 2017
Return Version
2015v3.0
Gross Receipts
$416,476
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.

To build community through an engagement with the arts; incubate creative entrepreneurs; provide the community's children with opportunities to make art; to assist the local government in fostering an appreciation for diversity in our community using art as the media.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$-31,378$41,182▲ $72,560
Accounts Receivable$7,000$0▼ $7,000
Pledges and Grants Receivable$46,848$3,800▼ $43,048
Inventories for Sale or Use$0$2,558▲ $2,558
Loans From Officers Directors$2,000$0▼ $2,000
Prepaid Expenses and Deferred Charges$509$809▲ $300
Total Assets$25,060$48,349▲ $23,289
Other Assets Total$2,081$0▼ $2,081
Liabilities
Unsecured Notes Loans Payable$29,418$48,474▲ $19,056
Accounts Payable and Accrued Expenses$79,345$13,758▼ $65,587
Other Liabilities$6,501$0▼ $6,501
Total Liabilities$117,264$62,232▼ $55,032
Net Assets / Fund Balance
Unrestricted Net Assets$-92,204$-13,883▲ $78,321
Total Net Assets Fund Balance$-92,204$-13,883▲ $78,321
Total Liabilities and Net Assets / Fund Balance$25,060$48,349▲ $23,289
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Candace Lee-gabbardExecutive DirectorFT$1,000$1,000

Board Members and Trustees

NameTitle
Scott SchultzChairman of the Board
Deborah Bartley-carterTrustee
Karma WarrenTrustee
Nigel FreemanTrustee
Patrick MorrissyTrustee
Reggie CanalTrustee
John NyeSecretary
Wayne MeyerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$282,754
Program Service Revenue
$123,607
Investment Income
$0
Other Revenue
$1,115
All Other Contributions
$110,367
Change in Net Assets
$78,321
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$253,356
Salaries, Compensation, and Employee Benefits$75,799
Total Fundraising Expense$18,244
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$95,252-$300$95,552
Other Salaries and Wages$32,423$19,924$11,697$64,044
Occupancy$18,004$18,003-$36,007
Fees for Services Management$5,542$13,302$3,325$22,169
Other Expenses$15,547--$15,547
Current Officers, Directors, Trustees, and Key Employees$4,556$2,800$1,644$9,000
Office Expenses$5,857$2,229-$8,086
Advertising$3,995-$999$4,994
Insurance$2,907$1,938-$4,845
Interest-$4,287-$4,287
Information Technology$1,396$1,117$279$2,792
Payroll Taxes-$2,755-$2,755
Fees for Services Accounting-$2,200-$2,200
Total Functional Expenses$242,356$68,555$18,244$329,155
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$0▼ $2,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
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
No

Governance Explanations

Form 990, Part VI, Section B, line 11

“The form 990 is reviewed by the board members at a board meeting prior to filing the return.”

Form 990, Part VI, Section C, line 19

“Organization provides copies upon request.”

Filing and Contact Details

Filer

Filer Name
Valley Arts Inc
EIN
26-1613016
Phone
8622527035
Address
400 SOUTH JEFFERSON STREET, ORANGE, NJ 07050

Signing Officer

Name
Scott Schultz
Title
Chairman of the Board
Phone
8622527035
Signed
2017-02-27
Discuss with paid preparer
No

Organization Details

Principal Officer
Scott Schultz
Formed
2008
Legal Domicile
Nj
Voting Board Members
8
Independent Board Members
8
Employees
1
Volunteers
12

Preparer

Firm
Olsen & Thompson PA
Address
970 Mount Kemble Ave, Morristown, NJ 07960
Phone
9734253212
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“MARKETING: Program service expenses 0. Management and general expenses 0. Fundraising expenses 300. Total expenses 300. ARTISTS: Program service expenses 95,252. Management and general expenses 0. Fundraising expenses 0. Total expenses 95,252.”

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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0158845
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01115
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01115
IRS990ScheduleA/InvestmentIncomeCYPct00.00070
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0102
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0102
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99920
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt01490091
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0406361
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0347147
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0374036
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0212782
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0149765
IRS990ScheduleA/Total509Grp/TotalAmt01490091
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0407476
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0347147
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0374036
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0212884
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0149765
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01491308
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE BOARD MEMBERS AT A BOARD MEETING PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION PROVIDES COPIES UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MARKETING: Program service expenses 0. Management and general expenses 0. Fundraising expenses 300. Total expenses 300. ARTISTS: Program service expenses 95,252. Management and general expenses 0. Fundraising expenses 0. Total expenses 95,252.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt025060
IRS990/TotalAssetsEOYAmt048349
IRS990/TotalAssetsGrp/BOYAmt025060
IRS990/TotalAssetsGrp/EOYAmt048349
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0282754
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt018244
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt068555
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0242356
IRS990/TotalFunctionalExpensesGrp/TotalAmt0329155
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0117264
IRS990/TotalLiabilitiesEOYAmt062232
IRS990/TotalLiabilitiesGrp/BOYAmt0117264
IRS990/TotalLiabilitiesGrp/EOYAmt062232
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-92204
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-13883
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt083861
IRS990/TotalOtherProgSrvcRevenueAmt016208
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0123607
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0123607
IRS990/TotalProgramServiceExpensesAmt0242356
IRS990/TotalProgramServiceRevenueAmt0123607
IRS990/TotalReportableCompFromOrgAmt01000
IRS990/TotalRevenueGrp/ExclusionAmt01115
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0123607
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0407476
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt025060
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt048349
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-92204
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-13883
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt029418
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt048474
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0400 SOUTH JEFFERSON STREET
IRS990/USAddress/CityNm0ORANGE
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007050
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0www.valleyartsnj.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd00
ReturnHeader/BusinessOfficerGrp/PersonNm0Scott Schultz
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN OF THE BOARD
ReturnHeader/BusinessOfficerGrp/PhoneNum08622527035
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-02-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VALLEY ARTS INC
ReturnHeader/Filer/BusinessNameControlTxt0VALL
ReturnHeader/Filer/EIN0261613016
ReturnHeader/Filer/PhoneNum08622527035
ReturnHeader/Filer/USAddress/AddressLine1Txt0400 SOUTH JEFFERSON STREET
ReturnHeader/Filer/USAddress/CityNm0ORANGE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007050
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0221914497
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Olsen & Thompson PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0970 Mount Kemble Ave
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Morristown
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd007960
ReturnHeader/PreparerPersonGrp/PhoneNum09734253212

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$48,349
Liabilities
$62,232
Net assets
-$13,883
Revenue
$407,476
Expenses
$329,155
Net income
$78,321
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