Civic Intelligence

Arts Council Endowment Fund Inc

990 • Fiscal year 2020 • EIN 26-2596119

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 11, 2021

Organization ProfileWWW.INTOTHEARTS.ORG
251 North Spruce StWinstonsalem, NC 27101

(336) 747-1415

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

100th percentile

67.80x

Higher debt load relative to revenue than 100% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

1st percentile

-1898%

Higher net margin than 1% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

51st percentile

$0

Higher top officer pay than 51% of similar nonprofits.

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

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

2nd percentile

-57%

Faster asset growth than 2% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

12th percentile

-45%

Faster revenue growth than 12% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$953,509

Down $1,255,515 (-57%) from 2019

Net Assets

Down

$2,226

Down $264,160 (-99%) from 2019

Liabilities

Down

$951,283

Down $991,355 (-51%) from 2019

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$14,030

Down $11,686 (-45%) from 2019

Expenses

Up

$280,335

Up $267,823 (+2141%) from 2019

Net Income

Down

-$266,305

Down $279,509 (-2117%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$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

2020

Assets$953,509
Liabilities$951,283
Net Assets$2,226
Open 2020 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$14,030
Expenses$280,335
Net Income-$266,305
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 11, 2021
Return Version
2020v4.1
Gross Receipts
$14,030
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$2,206,798$951,283▼ $1,255,515
Cash and Non-Interest-Bearing Accounts$2,226$2,226→ $0
Total Assets$2,209,024$953,509▼ $1,255,515
Liabilities
Escrow Account Liability$1,942,638$951,283▼ $991,355
Total Liabilities$1,942,638$951,283▼ $991,355
Net Assets / Fund Balance
Net Assets With Donor Restrictions$264,160$0▼ $264,160
Net Assets Without Donor Restrictions$2,226$2,226→ $0
Total Net Assets Fund Balance$266,386$2,226▼ $264,160
Total Liabilities and Net Assets / Fund Balance$2,209,024$953,509▼ $1,255,515

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$919,194--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$264,161-▲ $16,175--
2019$229,128-▲ $47,546-$264,161
2018$244,095$10,000▼ $17,422-$229,128
2017$190,932$32,494▲ $30,730-$244,095
2016$193,495-▲ $5,716-$190,932
Compensation and Service Providers
Top Officer Pay51st percentile

Board Members and Trustees

NameTitle
Bruce PattersonCo-chair
Gordon PetersonCo-chair
Anne SessionsDirector
Bev JenningsDirector
Bill BentonDirector
Chris ChapmanDirector
Jim MartinDirector
Nadiyah QuanderDirector
Redge HanesDirector
Melinda McconnellEx-officio
Kimberly StognerSecretary
Justin StoneTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$8,780
Other Revenue
$5,250
Change in Net Assets
$-266,305
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$278,834
Other Expenses$1,501
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$278,834--$278,834
Fees for Service Investment Mgmnt Fees-$1,501-$1,501
Total Functional Expenses$278,834$1,501$0$280,335
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Little Theatre of Winston-salem IncWinstonsalem, NC501(c)(3)General Purpose$227,241
The Winston-salem FoundationWinstonsalem, NC501(c)(3)General Purpose$51,593
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, Part VI, Section B, Line 11B

“The form 990 is not reviewed by the board of directors before it is filed with the irs.”

Form 990, Part VI, Section B, 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, Part VI, Section C, 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
Gordon Peterson
Title
Co-chair
Phone
3367471415
Signed
2021-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gordon Peterson
Formed
2008
Legal Domicile
Nc
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

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

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The oversight/selection process has not changed from the prior year.”

Financial Statement Notes

PART IV, LINE 2B:

“The organization acts 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.”

SCHEDULE D, PART V, LINE 4:

“The intended use of the endowment funds is for arts council, inc. And related art organizations.”

Raw XML AppendixShowing 400 of 495 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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IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE ARTS COUNCIL ENDOWMENT FUND INC. IS CURRENTLY IN THE PROCESS OF DISSOLVING AND WILL BE DISSOLVED BY THE END OF 2021. IN ACCORDANCE WITH ITS TAX-EXEMPT PURPOSE, THE ORGANIZATION DISBURSED THE ENDOWMENT FUNDS IT HELD FOR ITS PARTNERS AND WILL BE TRANSFERRING ITS FINAL CASH AND INVESTMENT ASSET TO THE ARTS COUNCIL, INC. IN 2021.
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IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/AdditionsDuringYearAmt0123137
IRS990ScheduleD/AgentTrusteeEtcInd00
IRS990ScheduleD/BeginningBalanceAmt01942638
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.00000
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt01502
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0264161
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0278834
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt016175
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt02118
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0229128
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0264161
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt010395
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt047546
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt07545
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0244095
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt010000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0229128
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-17422
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt02082
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0190932
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt032494
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0244095
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt07979
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt030730
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0193495
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0190932
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt08279
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt05716
IRS990ScheduleD/DistributionsDuringYearAmt01114491
IRS990ScheduleD/EndingBalanceAmt0951284
IRS990ScheduleD/ExplanationProvidedInd0X
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd01
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt015480
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt116609
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2919194
IRS990ScheduleD/OtherSecuritiesGrp/Desc0SECURED MM DEPOSIT ACCT
IRS990ScheduleD/OtherSecuritiesGrp/Desc1EQUITY FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/Desc2MUTUAL FUNDS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1F
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2F
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ACTS 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/ExplanationTxt1THE INTENDED USE OF THE ENDOWMENT FUNDS IS FOR ARTS COUNCIL, INC. AND RELATED ART ORGANIZATIONS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART IV, LINE 2B:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PART V, LINE 4:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0951283
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt0227241
IRS990ScheduleI/RecipientTable/CashGrantAmt151593
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/IRCSectionDesc1501(C)(3)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL PURPOSE
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1GENERAL PURPOSE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0THE LITTLE THEATRE OF WINSTON-SALEM INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1THE WINSTON-SALEM FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientEIN0560526835
IRS990ScheduleI/RecipientTable/RecipientEIN1566037615
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0419 N SPRUCE STREET
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt1751 W 4TH ST 200
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WINSTONSALEM
IRS990ScheduleI/RecipientTable/USAddress/CityNm1WINSTONSALEM
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd027101
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd127101
IRS990ScheduleI/Total501c3OrgCnt02
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleN/DirectorOfSuccessor2Ind00
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0INVESTMENTS- OTHER SECURITIES
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc1INVESTMENTS- OTHER SECURITIES
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc2INVESTMENTS- OTHER SECURITIES
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc3INVESTMENTS- OTHER SECURITIES
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc4INVESTMENTS- OTHER SECURITIES
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt0THE LITTLE THEATRE OF WINSTON-SALEM INC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt1THE WINSTON-SALEM FOUNDATION
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt2PIEDMONT CRAFTSMEN INC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt3PIEDMONT OPERA INC
IRS990ScheduleN/DispositionOfAssetsDetail/BusinessName/BusinessNameLine1Txt4WINSTON-SALEM THEATRE ALLIANCE INC
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02020-11-04
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt12020-11-04
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt22020-11-04
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt32020-11-04
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt42020-11-04
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0560526835
IRS990ScheduleN/DispositionOfAssetsDetail/EIN1566037615
IRS990ScheduleN/DispositionOfAssetsDetail/EIN2560818342
IRS990ScheduleN/DispositionOfAssetsDetail/EIN3591743689
IRS990ScheduleN/DispositionOfAssetsDetail/EIN4561585412
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0707056
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt151593
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt232809
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt323941
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt444123
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt1501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt2501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt3501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt4501(C)(3)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0FAIR MARKET VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt1FAIR MARKET VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt2FAIR MARKET VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt3FAIR MARKET VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt4FAIR MARKET VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt0419 N SPRUCE STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt1751 W 4TH ST 200
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt2601 NORTH TRADE STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt3636 HOLLY AVENUE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt4650 W 6TH STREET
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0WINSTONSALEM
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm1WINSTONSALEM
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm2WINSTONSALEM
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm3WINSTONSALEM
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm4WINSTONSALEM
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd1NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd2NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd3NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd4NC
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd027101
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd127101
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd227101
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd327101

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$953,509
Liabilities
$951,283
Net assets
$2,226
Revenue
$14,030
Expenses
$280,335
Net income
-$266,305
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
2020Detailed filing. Detailed filing data is available for this year.$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