Civic Intelligence

Chincoteague Island Arts Org Inc

EIN 45-4071729 • 501(c)3 • Chincoteague Island, VA

Profile

To establish a cultural arts center on chincoteague island, va to share film, performing arts, education programs, and other entertainment with our community and vistors.

PO Box 1217Chincoteague Island, VA 23336

www.chincoteagueislandarts.org

Siviq Scores

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

Liabilities / Assets

41st percentile

0.00x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.03x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

11th percentile

-32%

Higher net margin than 11% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

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

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

30th percentile

-4.3%

Faster asset growth than 30% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

19th percentile

-19%

Faster revenue growth than 19% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$698,708

Down $31,413 (-4.3%) from 2023

Liabilities

Down

$2,596

Down $2,590 (-50%) from 2023

Net Assets

Down

$696,112

Down $28,823 (-4.0%) from 2023

Operations
Liabilities / Revenue57th percentileNet Margin11th percentile

Revenue

Down

$88,946

Down $20,537 (-19%) from 2023

Expenses

Down

$117,769

Down $276 (-0.2%) from 2023

Net Income

Down

-$28,823

Down $20,261 (-237%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth30th percentile

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

$800K$600K$400K$200K$0Assets 2012: $413,740Liabilities 2012: $197,266Net Assets 2012: $216,4742012Assets 2013: $484,749Liabilities 2013: $183,854Net Assets 2013: $300,8952013Assets 2014: $481,003Liabilities 2014: $169,617Net Assets 2014: $311,3862014Assets 2015: $520,943Liabilities 2015: $781Net Assets 2015: $520,1622015Assets 2016: $554,636Liabilities 2016: $87Net Assets 2016: $554,5492016Assets 2017: $592,228Liabilities 2017: $87Net Assets 2017: $592,1412017Assets 2018: $651,890Liabilities 2018: $0Net Assets 2018: $651,8902018Assets 2019: $723,525Liabilities 2019: $5,419Net Assets 2019: $718,1062019Assets 2020: $730,848Liabilities 2020: $2,306Net Assets 2020: $728,5422020Assets 2021: $772,532Liabilities 2021: $3,952Net Assets 2021: $768,5802021Assets 2022: $737,679Liabilities 2022: $4,182Net Assets 2022: $733,4972022Assets 2023: $730,121Liabilities 2023: $5,186Net Assets 2023: $724,9352023Assets 2024: $698,708Liabilities 2024: $2,596Net Assets 2024: $696,1122024

Highlighted filing

2024

Assets$698,708
Liabilities$2,596
Net Assets$696,112
Open 2024 Filing

Operations Trend

Revenue Growth19th percentile

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

$300K$200K$100K$0-$100KExpenses 2012: $30,2612012Revenue 2013: $134,498Expenses 2013: $52,258Net Income 2013: $82,2402013Revenue 2014: $81,072Expenses 2014: $68,400Net Income 2014: $12,6722014Revenue 2015: $239,401Expenses 2015: $30,625Net Income 2015: $208,7762015Revenue 2016: $75,448Expenses 2016: $41,061Net Income 2016: $34,3872016Revenue 2017: $101,968Expenses 2017: $64,376Net Income 2017: $37,5922017Revenue 2018: $112,724Expenses 2018: $52,974Net Income 2018: $59,7502018Revenue 2019: $126,874Expenses 2019: $60,658Net Income 2019: $66,2162019Revenue 2020: $71,795Expenses 2020: $61,359Net Income 2020: $10,4362020Revenue 2021: $117,999Expenses 2021: $77,961Net Income 2021: $40,0382021Revenue 2022: $99,862Expenses 2022: $134,945Net Income 2022: -$35,0832022Revenue 2023: $109,483Expenses 2023: $118,045Net Income 2023: -$8,5622023Revenue 2024: $88,946Expenses 2024: $117,769Net Income 2024: -$28,8232024

Highlighted filing

2024

Revenue$88,946
Expenses$117,769
Net Income-$28,823
Open 2024 Filing

Filings

Most recent year

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

Open filing
Assets
$698,708
Liabilities
$2,596
Net assets
$696,112
Revenue
$88,946
Expenses
$117,769
Net income
-$28,823
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.99$0.03$6.96$0.89$1.18$0.29
2023Detailed filing. Detailed filing data is available for this year.$7.30$0.05$7.25$1.09$1.18$0.09
2022Detailed filing. Detailed filing data is available for this year.$7.38$0.04$7.33$1.00$1.35$0.35
2021Detailed filing. Detailed filing data is available for this year.$7.73$0.04$7.69$1.18$0.78$0.40
2020Detailed filing. Detailed filing data is available for this year.$7.31$0.02$7.29$0.72$0.61$0.10
2019Detailed filing. Detailed filing data is available for this year.$7.24$0.05$7.18$1.27$0.61$0.66
2018Detailed filing. Detailed filing data is available for this year.$6.52$0.00$6.52$1.13$0.53$0.60
2017Detailed filing. Detailed filing data is available for this year.$5.92$0.00$5.92$1.02$0.64$0.38
2016Detailed filing. Detailed filing data is available for this year.$5.55$0.00$5.55$0.75$0.41$0.34
2015Detailed filing. Detailed filing data is available for this year.$5.21$0.01$5.20$2.39$0.31$2.09
2014Detailed filing. Detailed filing data is available for this year.$4.81$1.70$3.11$0.81$0.68$0.13
2013Detailed filing. Detailed filing data is available for this year.$4.85$1.84$3.01$1.34$0.52$0.82
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.14$1.97$2.16$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 15, 2025
Return Version
2024v5.2
Gross Receipts
$105,740
Mission and Program Overview

Mission

To establish a cultural arts center on chincoteague island, va to share film, performing arts, education programs, and other entertainment with our community and visitors. Many communities have reclaimed closed or failing movie theaters and converted these structures into cultural arts centers that draw visitors and enhance the local economy. The island theater provides such an opportunity for chincoteague.

To establish a cultural arts center on chincoteague island, va to share film, performing arts, education programs, and other entertainment with our community and vistors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$564,675$546,361▼ $18,314
Investments Other Securities$135,015$140,525▲ $5,510
Cash and Non-Interest-Bearing Accounts$20,565$6,166▼ $14,399
Savings and Temporary Cash Investments$9,866$5,656▼ $4,210
Total Assets$730,121$698,708▼ $31,413
Liabilities
Accounts Payable and Accrued Expenses$5,186$2,596▼ $2,590
Total Liabilities$5,186$2,596▼ $2,590
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$589,920$555,587▼ $34,333
Net Assets With Donor Restrictions$135,015$140,525▲ $5,510
Total Net Assets Fund Balance$724,935$696,112▼ $28,823
Total Liabilities and Net Assets / Fund Balance$730,121$698,708▼ $31,413

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$413,918$149,961$563,879
Land$119,892-$119,892
Equipment$12,551$89,365$101,916
Other Securities$140,525--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$135,015-▲ $6,501-$140,525
2023$128,248-▲ $7,688-$135,015
2022$142,483-▼ $13,201$298$128,248
2021$106,133-▲ $36,968-$142,483
2020$107,381-▲ $2,867$3,995$106,133
Compensation and Service Providers
Top Officer Pay55th percentile

Board Members and Trustees

NameTitle
David LandsbergerChairman
Jeanne KnightChairman
Judy TyeDirector
Margaret NicholsDirector
Vivian CavalieriDirector
Anthony FosterSecretary
Warren PeakeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$31,330
Program Service Revenue
$49,103
Investment Income
$12,460
Other Revenue
$-3,947
All Other Contributions
$31,330
Change in Net Assets
$-28,823
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$82,777
Salaries, Compensation, and Employee Benefits$34,992
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$32,415--$32,415
Depreciation Depletion$18,314--$18,314
Insurance$6,132$6,132-$12,264
Advertising$12,102--$12,102
Other Expenses$11,948--$11,948
Office Expenses$4,183$2,288-$6,471
Information Technology$2,594--$2,594
Payroll Taxes$2,577--$2,577
Fees for Services Accounting-$2,251-$2,251
Total Functional Expenses$107,098$10,671$0$117,769
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
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
Yes
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

“A draft form 990 is presented to the board members prior to filing.”

Governing documents etc available to public Part VI line 19

“Information is made avaliable upon request.”

Filing and Contact Details

Filer

Filer Name
Chincoteague Island Arts Org Inc
EIN
45-4071729
In Care Of
% WARREN PEAKE
Phone
7577022170
Address
PO Box 1217, Chincoteague Island, VA 23336

Signing Officer

Name
Warren Peake
Title
Treasurer
Phone
7573365612
Signed
2025-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2011
Legal Domicile
Va
Voting Board Members
6
Independent Board Members
6
Employees
3
Volunteers
20

Preparer

Firm
Island Tax and Accounting LLC
Address
PO Box 1111, Chincoteague Island, VA 23336
Preparer
Barbara J Smith CPA
Phone
8885521311
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Increase resulted from an endowment contribution.”

Raw XML Appendix394 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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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WARREN PEAKE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-15
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ReturnHeader/Filer/BusinessNameControlTxt0CHIN
ReturnHeader/Filer/EIN0454071729
ReturnHeader/Filer/InCareOfNm0% WARREN PEAKE
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BARBARA J SMITH CPA
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ReturnHeader/ReturnTs02025-11-15T08:57:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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