Civic Intelligence

Arts Council Endowment Fund Inc

EIN 26-2596119 • 501(c)3 • Winstonsalem, NC

Profile

It is the primary responsibility of the endowment fund to manage the investment of these funds and additional funds as they become available, and to respond to reasonable and appropriate requests from the arts council or designated funded partners. A secondary goal of the endowment fund is to encourage additional gifts to the endowment fund for the benefit of the arts. The type and maturity of investments made by the endowment fund or its managers are the sole responsibility of the endowment fund's board of directors.

251 North Spruce StWinstonsalem, NC 27101

www.intothearts.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2022

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2022

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2021 to 2022

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $1,039,667 (-100%) from 2021

Liabilities

Down

$0

Down $1,037,441 (-100%) from 2021

Net Assets

Down

$0

Down $2,226 (-100%) from 2021

Operations
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

Flat

$0

Flat from 2021

Expenses

Up

$2,226

Up $2,226 from 2021

Net Income

Down

-$2,226

Down $2,226 from 2021

Trend Graphs

Balance Sheet Trend

Asset Growth9th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2018: $1,922,609Liabilities 2018: $1,691,256Net Assets 2018: $231,3532018Assets 2019: $2,209,024Liabilities 2019: $1,942,638Net Assets 2019: $266,3862019Assets 2020: $953,509Liabilities 2020: $951,283Net Assets 2020: $2,2262020Assets 2021: $1,039,667Liabilities 2021: $1,037,441Net Assets 2021: $2,2262021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0
Open 2022 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200K-$400KRevenue 2018: $21,936Expenses 2018: $7,544Net Income 2018: $14,3922018Revenue 2019: $25,716Expenses 2019: $12,512Net Income 2019: $13,2042019Revenue 2020: $14,030Expenses 2020: $280,335Net Income 2020: -$266,3052020Revenue 2021: $0Expenses 2021: $0Net Income 2021: $02021Revenue 2022: $0Expenses 2022: $2,226Net Income 2022: -$2,2262022

Highlighted filing

2022

Revenue$0
Expenses$2,226
Net Income-$2,226
Open 2022 Filing

Filings

Most recent year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$0
Expenses
$2,226
Net income
-$2,226
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.00$0.00$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$1.04$0.00$0.00$0.00$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.95$0.95$0.00$0.01$0.28$0.27
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.21$1.94$0.27$0.03$0.01$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.92$1.69$0.23$0.02$0.01$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$0
Mission and Program Overview

Mission

It is the primary responsibility of the endowment fund to manage the investment of these funds and additional funds as they become available, and to respond to reasonable and appropriate requests from the arts council or designated funded partners. A secondary goal of the endowment fund is to encourage additional gifts to the endowment fund for the benefit of the arts. The type and maturity of investments made by the endowment fund or its managers are the sole responsibility of the endowment fund's board of directors.

To raise, hold, and disburse endowment funds for arts council, inc. And related art organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,037,441--
Cash and Non-Interest-Bearing Accounts$2,226--
Total Assets$1,039,667$0▼ $1,039,667
Liabilities
Escrow Account Liability$1,037,441--
Total Liabilities$1,037,441$0▼ $1,037,441
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,226--
Total Net Assets Fund Balance$2,226$0▼ $2,226
Total Liabilities and Net Assets / Fund Balance$1,039,667$0▼ $1,039,667
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Chad CheekChair
Chase LawPresident &
Amy ReynoldsDirector
Camille Kluttz-leachDirector
Claire TuttleDirector
Clare FaderDirector
Courtney PayneDirector
Dr Lynn AnthonyDirector
Dr Rosa OteraDirector
Drew GerstmyerDirector
Howard UpchurchDirector
Iris ColeDirector
Jacinta WhiteDirector
Jake WhartonDirector
Jason KaplanDirector
Jeff LindsayDirector
Ken PettigrewDirector
Linda GaskinsDirector
Peggy ReingoldDirector
Richard GeigerDirector
Robin MillerDirector
Shannon HenryDirector
Stephan DragisicDirector
Sue HendersonDirector
Talitha VickersDirector
Todd BankheadDirector
Tracy PrestonDirector
Steve BerlinSecretary
Mike LancasterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-2,226
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,226
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,226--$2,226
Total Functional Expenses$2,226$0$0$2,226
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

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

“Conflicts are noted at quarterly board meetings as part of the discussion and voting procedures and noted in the meeting minutes.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Arts Council Endowment Fund Inc
EIN
26-2596119
Phone
3367471415
Address
251 NORTH SPRUCE ST, WINSTONSALEM, NC 27101

Signing Officer

Name
Chase Law
Title
President & CEO
Phone
3367471415
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chase Law
Formed
2008
Legal Domicile
Nc
Voting Board Members
28
Independent Board Members
28
Employees
0

Preparer

Firm
Butler Burke Llp
Address
100 CLUB OAKS COURT SUITE A, WINSTONSALEM, NC 27104
Preparer
Jane R Potter
Phone
3367682310
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“It is the primary responsibility of the endowment fund to manage the investment of these funds and additional funds as they become available, and to respond to reasonable and appropriate requests from the arts council or designated funded partners. A secondary goal of the endowment fund is to encourage additional gifts to the endowment fund for the benefit of the arts. The type and maturity of investments made by the endowment fund or its managers are the sole responsibility of the endowment fund's board of directors.”

Form 990, Part X

“Upon the organization's dissolution, the investments were returned to its owners; the remaining asset, cash, was transferred to the arts council, inc.”

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The organization acted as an agent, or custodian for certain assets owned by certain funded partner organizations of the arts council, inc. By receiving, investing, and disbursing funds on their behalf.”

Raw XML AppendixShowing 400 of 461 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt26SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt27TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt28PRESIDENT &
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IRS990/MissionDesc0IT IS THE PRIMARY RESPONSIBILITY OF THE ENDOWMENT FUND TO MANAGE THE INVESTMENT OF THESE FUNDS AND ADDITIONAL FUNDS AS THEY BECOME AVAILABLE, AND TO RESPOND TO REASONABLE AND APPROPRIATE REQUESTS FROM THE ARTS COUNCIL OR DESIGNATED FUNDED PARTNERS. A SECONDARY GOAL OF THE ENDOWMENT FUND IS TO ENCOURAGE ADDITIONAL GIFTS TO THE ENDOWMENT FUND FOR THE BENEFIT OF THE ARTS. THE TYPE AND MATURITY OF INVESTMENTS MADE BY THE ENDOWMENT FUND OR ITS MANAGERS ARE THE SOLE RESPONSIBILITY OF THE ENDOWMENT FUND'S BOARD OF DIRECTORS.
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IRS990/NetAssetsOrFundBalancesBOYAmt02226
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0CHASE LAW
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0MISCELLANEOUS 5,250
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt010000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt010000
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt03671
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt04446
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05084
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt013201
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt05250
IRS990ScheduleA/OtherIncome170Grp/TotalAmt05250
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IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/PublicSupportPY170Pct00.02000
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt010000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt010000
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IRS990ScheduleD/ExplanationProvidedInd0X
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACTED AS AN AGENT, OR CUSTODIAN FOR CERTAIN ASSETS OWNED BY CERTAIN FUNDED PARTNER ORGANIZATIONS OF THE ARTS COUNCIL, INC. BY RECEIVING, INVESTING, AND DISBURSING FUNDS ON THEIR BEHALF.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/DistributionDt02022-09-01
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/EIN0560526856
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/FairMarketValueOfAssetAmt02226
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/IRCSectionTxt0501C3
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/PersonNm0THE ARTS COUNCIL INC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/AddressLine1Txt0251 NORTH SPRUCE ST
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/CityNm0WINSTONSALEM
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/StateAbbreviationCd0NC
IRS990ScheduleN/LiquidationOfAssetsTableGrp/LiquidationOfAssetsDetail/USAddress/ZIPCd027101
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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0CHASE LAW IS PRESIDENT AND CEO OF BOTH THE ARTS COUNCIL, INC. (THE SUCCESSOR) AND ARTS COUNCIL ENDOWMENT FUND (FILING ORGANIZATION); SHE SERVES AS BOTH AN OFFICER AND EMPLOYEE OF THE SUCCESSOR ORGANIZATION.
IRS990ScheduleN/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE N, PAGE 1, PART I, LINE 2E
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IT IS THE PRIMARY RESPONSIBILITY OF THE ENDOWMENT FUND TO MANAGE THE INVESTMENT OF THESE FUNDS AND ADDITIONAL FUNDS AS THEY BECOME AVAILABLE, AND TO RESPOND TO REASONABLE AND APPROPRIATE REQUESTS FROM THE ARTS COUNCIL OR DESIGNATED FUNDED PARTNERS. A SECONDARY GOAL OF THE ENDOWMENT FUND IS TO ENCOURAGE ADDITIONAL GIFTS TO THE ENDOWMENT FUND FOR THE BENEFIT OF THE ARTS. THE TYPE AND MATURITY OF INVESTMENTS MADE BY THE ENDOWMENT FUND OR ITS MANAGERS ARE THE SOLE RESPONSIBILITY OF THE ENDOWMENT FUND'S BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICTS ARE NOTED AT QUARTERLY BOARD MEETINGS AS PART OF THE DISCUSSION AND VOTING PROCEDURES AND NOTED IN THE MEETING MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON THE ORGANIZATION'S DISSOLUTION, THE INVESTMENTS WERE RETURNED TO ITS OWNERS; THE REMAINING ASSET, CASH, WAS TRANSFERRED TO THE ARTS COUNCIL, INC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART X
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IRS990/TerminateOperationsInd0true
IRS990/TotalAssetsBOYAmt01039667
IRS990/TotalAssetsEOYAmt00
IRS990/TotalAssetsGrp/BOYAmt01039667

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