Civic Intelligence

Visual Arts Center Endowment Trust Inc.

990 • Fiscal year 2020 • EIN 26-3606606

Jun 01, 2019 to May 31, 2020 • Filed on Aug 11, 2020

Organization Profile
210 Maude StPunta Gorda, FL 33950

(941) 639-0888

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

95th percentile

71%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

74th percentile

23%

Faster asset growth than 74% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

97th percentile

249%

Faster revenue growth than 97% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$1,073,247

Up $202,213 (+23%) from 2019

Net Assets

Up

$1,073,247

Up $202,213 (+23%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin95th percentile

Revenue

Up

$132,231

Up $94,343 (+249%) from 2019

Expenses

Down

$38,740

Down $1,659 (-4.1%) from 2019

Net Income

Up

$93,491

Up $96,002 (+3823%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $768,417Liabilities 2011: $0Net Assets 2011: $768,4172011Assets 2012: $729,760Liabilities 2012: $0Net Assets 2012: $729,7602012Assets 2013: $776,347Liabilities 2013: $0Net Assets 2013: $776,3472013Assets 2014: $794,012Liabilities 2014: $0Net Assets 2014: $794,0122014Assets 2015: $819,124Liabilities 2015: $0Net Assets 2015: $819,1242015Assets 2016: $716,651Liabilities 2016: $0Net Assets 2016: $716,6512016Assets 2017: $805,737Liabilities 2017: $0Net Assets 2017: $805,7372017Assets 2018: $873,545Liabilities 2018: $0Net Assets 2018: $873,5452018Assets 2019: $871,034Liabilities 2019: $0Net Assets 2019: $871,0342019Assets 2020: $1,073,247Liabilities 2020: $0Net Assets 2020: $1,073,2472020Assets 2021: $1,210,563Liabilities 2021: $0Net Assets 2021: $1,210,5632021Assets 2022: $1,094,810Liabilities 2022: $0Net Assets 2022: $1,094,8102022Assets 2023: $1,037,167Liabilities 2023: $0Net Assets 2023: $1,037,1672023Assets 2024: $1,046,016Liabilities 2024: $0Net Assets 2024: $1,046,0162024Assets 2025: $886,732Liabilities 2025: $0Net Assets 2025: $886,7322025

Highlighted filing

2020

Assets$1,073,247
Liabilities$0
Net Assets$1,073,247
Open 2020 Filing

Operations Trend

Revenue Growth97th percentile

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

$300K$200K$100K$0-$100K-$200KExpenses 2011: $33,8462011Expenses 2012: $7,4312012Expenses 2013: $38,6242013Revenue 2014: $70,295Expenses 2014: $79,375Net Income 2014: -$9,0802014Revenue 2015: $20,375Expenses 2015: $14,440Net Income 2015: $5,9352015Revenue 2016: $31,700Expenses 2016: $77,172Net Income 2016: -$45,4722016Revenue 2017: $27,983Expenses 2017: $43,437Net Income 2017: -$15,4542017Revenue 2018: $80,072Expenses 2018: $12,264Net Income 2018: $67,8082018Revenue 2019: $37,888Expenses 2019: $40,399Net Income 2019: -$2,5112019Revenue 2020: $132,231Expenses 2020: $38,740Net Income 2020: $93,4912020Revenue 2021: $71,423Expenses 2021: $47,128Net Income 2021: $24,2952021Revenue 2022: $12,839Expenses 2022: $50,042Net Income 2022: -$37,2032022Revenue 2023: -$123,203Expenses 2023: $50,193Net Income 2023: -$173,3962023Revenue 2024: $142,438Expenses 2024: $125,923Net Income 2024: $16,5152024Revenue 2025: $64,658Expenses 2025: $223,942Net Income 2025: -$159,2842025

Highlighted filing

2020

Revenue$132,231
Expenses$38,740
Net Income$93,491
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Aug 11, 2020
Return Version
2019v5.0
Gross Receipts
$1,331,501
Mission and Program Overview

Mission

The visual arts center endowment trust, inc. Is a not-for-profit corporation organized to receive charitable bequests and devices as assets to manage those assets and to distribute the proceeds of their management to the charlotte county art guild in order to support the art guild in promoting the advancement of and appreciation for the visual arts in charlotte county florida. The goal of the trust is to establish a prepetual asset base, the income from which will be used to further the goals of the art guild and to carry on any lawful purpose or purposes not for pecuniary profit which may be done by a not-for-profit corporation organized and existing under and by virtue of the florida not-for-profit corporation act, florida statutes, chapter 617 (2003), as ammended, not specifically prohibited by any other laws of florida, and within the meaning of section 501(c)(3) of the internal revenue code of 1986, as amended, including charitable, educational, historical, and cultural purposes.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$871,034$1,073,247▲ $202,213
Investments in Publicly Traded Securities$836,187$1,065,075▲ $228,888
Savings and Temporary Cash Investments$34,847$8,172▼ $26,675
Total Assets$871,034$1,073,247▲ $202,213
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$871,034$1,073,247▲ $202,213
Total Liabilities and Net Assets / Fund Balance$871,034$1,073,247▲ $202,213
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Constance RobisonPresident
Friza KedirDirector
Ingrid CarrollDirector
Denise HenryCoorespondin
Keith CallaghanRecording Se
Ronald OlsenTreasurer
Sue KrasnyVP
Revenue and Support

Revenue Composition

Contributions and Grants
$207,059
Program Service Revenue
$0
Investment Income
$-74,828
Other Revenue
$0
All Other Contributions
$207,059
Change in Net Assets
$93,491
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$37,210
Other Expenses$1,530
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$37,210--$37,210
Office Expenses-$1,530-$1,530
Total Functional Expenses$37,210$1,530$0$38,740
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Charlotte County Art GuildPunta Gorda, FL3-$37,210
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

“Prepared by cpa and reviewed by board committee”

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

“Reported conflicts are reviewed by the board”

Form 990, Page 6, Part VI, Line 19

“Documents are available for inspection at the organizations location”

Filing and Contact Details

Filer

Filer Name
Visual Arts Center Endowment Trust
EIN
26-3606606
Phone
9416390888
Address
210 MAUDE ST, PUNTA GORDA, FL 33950

Signing Officer

Name
Constance Robison
Title
President
Phone
9416398810
Signed
2020-08-11

Organization Details

Principal Officer
Constance Robison
Formed
2008
Legal Domicile
Fl
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Olsen Lynch & Wright Cpas Pa
Address
334 W OLYMPIA AVENUE, PUNTA GORDA, FL 33950-4412
Preparer
Ronald L Olsen
Phone
9416390888
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The visual arts center endowment trust, inc. Is a not-for-profit corporation organized to receive charitable bequests and devices as assets to manage those assets and to distribute the proceeds of their management to the charlotte county art guild in order to support the art guild in promoting the advancement of and appreciation for the visual arts in charlotte county florida. The goal of the trust is to establish a prepetual asset base, the income from which will be used to further the goals of the art guild and to carry on any lawful purpose or purposes not for pecuniary profit which may be done by a not-for-profit corporation organized and existing under and by virtue of the florida not-for-profit corporation act, florida statutes, chapter 617 (2003), as ammended, not specifically prohibited by any other laws of florida, and within the meaning of section 501(c)(3) of the internal revenue code of 1986, as amended, including charitable, educational, historical, and cultural purposes.”

Form 990, Page 1, Part I, Line 6

“Event and program support”

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE VISUAL ARTS CENTER ENDOWMENT TRUST, INC. IS A NOT-FOR-PROFIT CORPORATION ORGANIZED TO RECEIVE CHARITABLE BEQUESTS AND DEVICES AS ASSETS TO MANAGE THOSE ASSETS AND TO DISTRIBUTE THE PROCEEDS OF THEIR MANAGEMENT TO THE CHARLOTTE COUNTY ART GUILD IN ORDER TO SUPPORT THE ART GUILD IN PROMOTING THE ADVANCEMENT OF AND APPRECIATION FOR THE VISUAL ARTS IN CHARLOTTE COUNTY FLORIDA. THE GOAL OF THE TRUST IS TO ESTABLISH A PREPETUAL ASSET BASE, THE INCOME FROM WHICH WILL BE USED TO FURTHER THE GOALS OF THE ART GUILD AND TO CARRY ON ANY LAWFUL PURPOSE OR PURPOSES NOT FOR PECUNIARY PROFIT WHICH MAY BE DONE BY A NOT-FOR-PROFIT CORPORATION ORGANIZED AND EXISTING UNDER AND BY VIRTUE OF THE FLORIDA NOT-FOR-PROFIT CORPORATION ACT, FLORIDA STATUTES, CHAPTER 617 (2003), AS AMMENDED, NOT SPECIFICALLY PROHIBITED BY ANY OTHER LAWS OF FLORIDA, AND WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, INCLUDING CHARITABLE, EDUCATIONAL, HISTORICAL, AND CULTURAL PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EVENT AND PROGRAM SUPPORT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PREPARED BY CPA AND REVIEWED BY BOARD COMMITTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REPORTED CONFLICTS ARE REVIEWED BY THE BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE ORGANIZATIONS LOCATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 1, PART I, LINE 6
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 19
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ReturnHeader/BuildTS02020-09-22 18:59:49Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CONSTANCE ROBISON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09416398810
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VISUAL ARTS CENTER ENDOWMENT TRUST
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ReturnHeader/Filer/BusinessNameControlTxt0VISU
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ReturnHeader/FilingSecurityInformation/IPTm008:28:53
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0651042803
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0OLSEN LYNCH & WRIGHT CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0334 W OLYMPIA AVENUE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
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ReturnHeader/PreparerPersonGrp/PhoneNum09416390888
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD L OLSEN
ReturnHeader/ReturnTs02020-08-14T08:28:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-06-01
ReturnHeader/TaxPeriodEndDt02020-05-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,073,247
Liabilities
$0
Net assets
$1,073,247
Revenue
$132,231
Expenses
$38,740
Net income
$93,491
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.89$0.00$0.89$0.06$0.22$0.16
2024Detailed filing. Detailed filing data is available for this year.$1.05$0.00$1.05$0.14$0.13$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.04$0.00$1.04$0.12$0.05$0.17
2022Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$0.01$0.05$0.04
2021Detailed filing. Detailed filing data is available for this year.$1.21$0.00$1.21$0.07$0.05$0.02
2020Detailed filing. Detailed filing data is available for this year.$1.07$0.00$1.07$0.13$0.04$0.09
2019Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.04$0.04$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.87$0.00$0.87$0.08$0.01$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.81$0.00$0.81$0.03$0.04$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$0.03$0.08$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.82$0.00$0.82$0.02$0.01$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$0.07$0.08$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.00$0.78$0.04
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.73$0.00$0.73$0.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.77$0.00$0.77$0.03