Civic Intelligence

Visual Arts Center Endowment Trust Inc.

990 • Fiscal year 2024 • EIN 26-3606606

Jun 01, 2023 to May 31, 2024 • Filed on Jun 16, 2024

Organization Profile
210 Maude StPunta Gorda, FL 33950

(941) 456-3919

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

18th percentile

0.00x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

63rd percentile

12%

Higher net margin than 63% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

40th percentile

0.9%

Faster asset growth than 40% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

Score unavailable

No value available

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

Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$1,046,016

Up $8,849 (+0.9%) from 2023

Net Assets

Up

$1,046,016

Up $8,849 (+0.9%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin63rd percentile

Revenue

Up

$142,438

Up $265,641 (+216%) from 2023

Expenses

Up

$125,923

Up $75,730 (+151%) from 2023

Net Income

Up

$16,515

Up $189,911 (+110%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth40th 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

2024

Assets$1,046,016
Liabilities$0
Net Assets$1,046,016
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

2024

Revenue$142,438
Expenses$125,923
Net Income$16,515
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Jun 16, 2024
Return Version
2023v5.0
Gross Receipts
$142,438
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.

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,037,167$1,046,016▲ $8,849
Investments in Publicly Traded Securities$1,023,980$998,965▼ $25,015
Cash and Non-Interest-Bearing Accounts$13,187$47,051▲ $33,864
Total Assets$1,037,167$1,046,016▲ $8,849
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,037,167$1,046,016▲ $8,849
Total Liabilities and Net Assets / Fund Balance$1,037,167$1,046,016▲ $8,849
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Donna PetermanPresident
Sue KrasneyVice President
Alexia MartinDirector
Beverly YankwittDirector
Constance RobisonDirector
Kelsey VeitengruberDirector
Denise HenerySecretary
Ronald OlsenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$42,311
Program Service Revenue
$0
Investment Income
$100,127
Other Revenue
$0
All Other Contributions
$42,311
Change in Net Assets
$16,515
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$123,766
Other Expenses$2,157
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$123,766--$123,766
Office Expenses$2,157--$2,157
Total Functional Expenses$125,923$0$0$125,923
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Charlotte County Art Guild IncPunta Gorda, FL---
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
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“Form 990, part vi, line 11b - organizations process to review form 990prepared by cpa and reviewed by board committee”

Governing documents etc available to public Part VI line 19

“Form 990, part vi, line 19 - governing documents disclosure explanationdocuments are available for inspection at the organizations location”

Filing and Contact Details

Filer

Filer Name
Visual Arts Center Endowment Trust
EIN
26-3606606
Address
210 MAUDE ST, Punta Gorda, FL 33950

Signing Officer

Name
Donna Peterman
Title
President
Signed
2024-06-16
Discuss with paid preparer
No

Organization Details

Principal Officer
Donna Peterman
Formed
2008
Legal Domicile
Fl
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Ronald Olsen
Address
3514 Paul Pl, Punta Gorda, FL 33950
Preparer
Ronald Olsen
Phone
9414563919
Supplemental Narrative

Additional Explanations

Part III response or note to any other line in Part III

“Form 990 - organizations missionthe visual arts center endowment trust, inc. Is a not-for-profitcorporation organized to receive charitable bequests and devices as assetsto manage those assets and to distribute the proceeds of their managementto the charlotte county art guild in order to support the art guild inpromoting the advancement of and appreciation for the visual arts incharlotte county florida. The goal of the trust is to establish aprepetual asset base, the income from which will be used to further thegoals of the art guild and to carry on any lawful purpose or purposes notfor pecuniary profit which may be done by a not-for-profit corporationorganized and existing under by virtue of the florida not-for-profitcorporation act, florida statutes, chapter 617.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, LINE 11B - ORGANIZATIONS PROCESS TO REVIEW FORM 990PREPARED BY CPA AND REVIEWED BY BOARD COMMITTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATIONDOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE ORGANIZATIONS LOCATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 - ORGANIZATIONS MISSIONTHE VISUAL ARTS CENTER ENDOWMENT TRUST, INC. IS A NOT-FOR-PROFITCORPORATION ORGANIZED TO RECEIVE CHARITABLE BEQUESTS AND DEVICES AS ASSETSTO MANAGE THOSE ASSETS AND TO DISTRIBUTE THE PROCEEDS OF THEIR MANAGEMENTTO THE CHARLOTTE COUNTY ART GUILD IN ORDER TO SUPPORT THE ART GUILD INPROMOTING THE ADVANCEMENT OF AND APPRECIATION FOR THE VISUAL ARTS INCHARLOTTE COUNTY FLORIDA. THE GOAL OF THE TRUST IS TO ESTABLISH APREPETUAL ASSET BASE, THE INCOME FROM WHICH WILL BE USED TO FURTHER THEGOALS OF THE ART GUILD AND TO CARRY ON ANY LAWFUL PURPOSE OR PURPOSES NOTFOR PECUNIARY PROFIT WHICH MAY BE DONE BY A NOT-FOR-PROFIT CORPORATIONORGANIZED AND EXISTING UNDER BY VIRTUE OF THE FLORIDA NOT-FOR-PROFITCORPORATION ACT, FLORIDA STATUTES, CHAPTER 617.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
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IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01037167
IRS990/TotalAssetsEOYAmt01046016
IRS990/TotalAssetsGrp/BOYAmt01037167
IRS990/TotalAssetsGrp/EOYAmt01046016
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt042311
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0125923
IRS990/TotalFunctionalExpensesGrp/TotalAmt0125923
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IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01037167
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01046016
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0125923
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0100127
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0142438
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01037167
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01046016
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0DONNA PETERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VISUAL ARTS CENTER ENDOWMENT TRUST
ReturnHeader/Filer/BusinessNameControlTxt0VISU
ReturnHeader/Filer/EIN0263606606
ReturnHeader/Filer/USAddress/AddressLine1Txt0210 MAUDE ST
ReturnHeader/Filer/USAddress/CityNm0Punta Gorda
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033950
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Ronald Olsen
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03514 Paul Pl
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Punta Gorda
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033950
ReturnHeader/PreparerPersonGrp/PhoneNum09414563919
ReturnHeader/PreparerPersonGrp/PreparationDt02024-06-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Ronald Olsen
ReturnHeader/ReturnTs02024-06-15T15:07:44-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DONNA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PETERMAN
ReturnHeader/TaxPeriodBeginDt02023-06-01
ReturnHeader/TaxPeriodEndDt02024-05-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,046,016
Liabilities
$0
Net assets
$1,046,016
Revenue
$142,438
Expenses
$125,923
Net income
$16,515
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