Civic Intelligence

Gloucester Arts on Main Inc

EIN 45-2946669 • 501(c)3 • Gloucester, VA

Profile

To provide a creative environment for the arts to flourish, enriching the quality of life for people of all ages by offering workshops, classes, exhibits and events in a gallery where artists exhibit work.

6580 Main StreetGloucester, VA 23061

www.gloucesterarts.org

Siviq Scores

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

Liabilities / Assets

76th percentile

0.33x

Higher debt load relative to assets than 76% of similar nonprofits.

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

Liabilities / Revenue

89th percentile

1.10x

Higher debt load relative to revenue than 89% of similar nonprofits.

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

Net Margin

26th percentile

-6.5%

Higher net margin than 26% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

29th percentile

-2.7%

Faster asset growth than 29% of similar nonprofits.

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

Revenue Growth

57th percentile

11%

Faster revenue growth than 57% of similar nonprofits.

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

Assets

Down

$1,041,818

Down $28,952 (-2.7%) from 2023

Liabilities

Down

$347,435

Down $10,161 (-2.8%) from 2023

Net Assets

Down

$694,383

Down $18,791 (-2.6%) from 2023

Revenue

Up

$316,869

Up $30,957 (+11%) from 2023

Expenses

Up

$337,542

Up $23,376 (+7.4%) from 2023

Net Income

Up

-$20,673

Up $7,581 (+27%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.5M$1.0M$500K$0-$500KAssets 2012: $2,509Liabilities 2012: $28,003Net Assets 2012: -$25,4942012Assets 2013: $7,861Liabilities 2013: $20,862Net Assets 2013: -$13,0012013Assets 2014: $2,188Liabilities 2014: $19,951Net Assets 2014: -$17,7632014Assets 2015: $18,802Liabilities 2015: $2,650Net Assets 2015: $16,1522015Assets 2016: $25,746Liabilities 2016: $12,694Net Assets 2016: $13,0522016Assets 2017: $37,881Liabilities 2017: $4,402Net Assets 2017: $33,4792017Assets 2018: $66,550Liabilities 2018: $8,6232018Assets 2019: $130,331Liabilities 2019: $13,936Net Assets 2019: $116,3952019Assets 2020: $537,371Liabilities 2020: $395,400Net Assets 2020: $141,9712020Assets 2021: $699,633Liabilities 2021: $374,382Net Assets 2021: $325,2512021Assets 2022: $1,107,932Liabilities 2022: $366,504Net Assets 2022: $741,4282022Assets 2023: $1,070,770Liabilities 2023: $357,596Net Assets 2023: $713,1742023Assets 2024: $1,041,818Liabilities 2024: $347,435Net Assets 2024: $694,3832024

Highlighted filing

2024

Assets$1,041,818
Liabilities$347,435
Net Assets$694,383

Operations Trend

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

$800K$600K$400K$200K$0-$200KRevenue 2012: $62,439Expenses 2012: $87,933Net Income 2012: -$25,4942012Revenue 2013: $109,374Expenses 2013: $96,891Net Income 2013: $12,4832013Revenue 2014: $90,402Expenses 2014: $95,263Net Income 2014: -$4,8612014Revenue 2015: $159,217Expenses 2015: $140,155Net Income 2015: $19,0622015Revenue 2016: $150,006Expenses 2016: $153,535Net Income 2016: -$3,5292016Revenue 2017: $155,410Expenses 2017: $134,836Net Income 2017: $20,5742017Revenue 2018: $175,488Expenses 2018: $150,823Net Income 2018: $24,6652018Revenue 2019: $305,389Expenses 2019: $247,742Net Income 2019: $57,6472019Revenue 2020: $309,637Expenses 2020: $283,004Net Income 2020: $26,6332020Revenue 2021: $461,377Expenses 2021: $278,237Net Income 2021: $183,1402021Revenue 2022: $752,799Expenses 2022: $336,622Net Income 2022: $416,1772022Revenue 2023: $285,912Expenses 2023: $314,166Net Income 2023: -$28,2542023Revenue 2024: $316,869Expenses 2024: $337,542Net Income 2024: -$20,6732024

Highlighted filing

2024

Revenue$316,869
Expenses$337,542
Net Income-$20,673

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 15, 2024
Return Version
2023v6.0
Gross Receipts
$338,687
Mission and Program Overview

Mission

To provide a creative environment for the arts to flourish, enriching the quality of life for people of all ages by offering workshops, classes, exhibits and events in a gallery where artists exhibit work.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$530,479$692,570▲ $162,091
Cash and Non-Interest-Bearing Accounts$405,591$219,848▼ $185,743
Pledges and Grants Receivable$134,700$129,400▼ $5,300
Total Assets$1,070,770$1,041,818▼ $28,952
Liabilities
Mortgage Notes Payable Secured by Investment Property$345,046$335,646▼ $9,400
Accounts Payable and Accrued Expenses$11,050$10,789▼ $261
Deferred Revenue$1,500$1,000▼ $500
Total Liabilities$357,596$347,435▼ $10,161
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$339,763$694,383▲ $354,620
Net Assets With Donor Restrictions$373,411--
Total Net Assets Fund Balance$713,174$694,383▼ $18,791
Total Liabilities and Net Assets / Fund Balance$1,070,770$1,041,818▼ $28,952

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$525,490$41,925$567,415
Land$167,080-$167,080
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$136,415
Program Service Revenue
$148,933
Investment Income
$2,709
Other Revenue
$28,812
All Other Contributions
$75,565
Change in Net Assets
$-20,673
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$203,464
Salaries, Compensation, and Employee Benefits$134,078
Total Fundraising Expense$9,724
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$65,830$54,339$4,167$124,336
Fees for Services Other$42,187--$42,187
Interest$12,140$4,047-$16,187
Occupancy$8,690$2,897-$11,587
Fees for Services Accounting-$11,450-$11,450
All Other Expenses$2,892$5,723$2,314$10,929
Depreciation Depletion$10,673--$10,673
Payroll Taxes$5,158$4,258$326$9,742
Insurance-$5,509-$5,509
Office Expenses$5,054--$5,054
Information Technology-$2,034$2,917$4,951
Other Expenses$3,660$6,121-$3,660
Advertising-$196-$196
Total Functional Expenses$231,244$96,574$9,724$337,542
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$50,568
Fundraising Direct Expenses$21,818
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$83,005$45,555$7,047$38,508
River Jam$28,413$5,013$14,771$-9,758
Total Events$111,418$50,568$21,818$28,750
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
Yes
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

Prior to filing form 990, the treasurer provides a draft copy to the members of the board for their review.

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

Officers and directors are required to immediately disclose any interests that could give rise to conflicts.

Form 990, Page 6, Part VI, Line 15A

The process for determining compensation includes independent review and approval and comparability data.

Form 990, Page 6, Part VI, Line 19

Governing documents, financial statements and policies are available for public inspection upon request.

Filing and Contact Details

Filer

Filer Name
Gloucester Arts on Main Inc
EIN
45-2946669
Phone
8048249464
Address
6580 MAIN STREET, GLOUCESTER, VA 23061

Signing Officer

Name
Victoria Dreelin
Title
Treasurer
Phone
8048249464
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Ivey
Formed
2011
Legal Domicile
Va
Voting Board Members
16
Independent Board Members
16
Employees
5

Preparer

Firm
Solace Business Advisory Services Pc
Address
PO BOX 1415, GLOUCESTER, VA 23061-1415
Preparer
Cheryl B Biondolillo CPA
Phone
8046930605
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Art teacher 3,286 0 0 teachers 17,967 0 0 senior programs 1,953 0 0 strategic initiative 18,981 0 0 total 42,187 0 0

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