Civic Intelligence

Midlands Arts Conservatory

990 • Fiscal year 2019 • EIN 81-2516984

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 25, 2020

Organization ProfileMIDLANDSARTSCONSERVATORY.ORG
3806 Main StreetColumbia, SC 29203

(803) 799-9388

Siviq Scores

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

Liabilities / Assets

94th percentile

1.16x

Higher debt load relative to assets than 94% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

70th percentile

0.27x

Higher debt load relative to revenue than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

37th percentile

-0.6%

Higher net margin than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

41st percentile

$34,905

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

100th percentile

3844%

Faster asset growth than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

100th percentile

3609%

Faster revenue growth than 100% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$251,671

Up $245,290 (+3844%) from 2018

Net Assets

Down

-$40,020

Down $6,100 (-18%) from 2018

Liabilities

Up

$291,691

Up $251,390 (+624%) from 2018

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin37th percentile

Revenue

Up

$1,092,458

Up $1,063,002 (+3609%) from 2018

Expenses

Up

$1,098,558

Up $1,045,512 (+1971%) from 2018

Net Income

Up

-$6,100

Up $17,490 (+74%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$600K$400K$200K$0-$200KAssets 2017: $14,826Liabilities 2017: $15,0002017Assets 2018: $6,381Liabilities 2018: $40,301Net Assets 2018: -$33,9202018Assets 2019: $251,671Liabilities 2019: $291,691Net Assets 2019: -$40,0202019Assets 2020: $387,468Liabilities 2020: $251,639Net Assets 2020: $135,8292020Assets 2021: $283,619Liabilities 2021: $126,197Net Assets 2021: $157,4222021Assets 2022: $419,454Liabilities 2022: $128,992Net Assets 2022: $290,4622022Assets 2024: $0Liabilities 2024: $0Net Assets 2024: $02024

Highlighted filing

2019

Assets$251,671
Liabilities$291,691
Net Assets-$40,020
Open 2019 Filing

Operations Trend

Revenue Growth100th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2017: $28,417Expenses 2017: $28,591Net Income 2017: -$1742017Revenue 2018: $29,456Expenses 2018: $53,046Net Income 2018: -$23,5902018Revenue 2019: $1,092,458Expenses 2019: $1,098,558Net Income 2019: -$6,1002019Revenue 2020: $1,446,975Expenses 2020: $1,271,126Net Income 2020: $175,8492020Revenue 2021: $1,647,722Expenses 2021: $1,626,129Net Income 2021: $21,5932021Revenue 2022: $2,227,926Expenses 2022: $2,094,886Net Income 2022: $133,0402022Revenue 2024: $1,549Expenses 2024: $70,939Net Income 2024: -$69,3902024

Highlighted filing

2019

Revenue$1,092,458
Expenses$1,098,558
Net Income-$6,100
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 25, 2020
Return Version
2018v3.2
Gross Receipts
$1,092,458
Mission and Program Overview

Mission

The midlands arts conservatory prepares students for arts-related careers, a lifelong appreciation of the arts, and for high quality postsecondary studies. The school provides an arts-enriched personalized learning environment, integrating academic rigor and quality arts instruction for all students.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$1,381$96,521▲ $95,140
Land, Buildings, and Equipment, Net$0$41,958▲ $41,958
Prepaid Expenses and Deferred Charges-$956-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-33,920$-40,020▼ $6,100
Total Assets$6,381$251,671▲ $245,290
Other Assets Total$5,000$112,236▲ $107,236
Liabilities
Accounts Payable and Accrued Expenses$19,507$138,627▲ $119,120
Unsecured Notes Loans Payable$20,794$70,350▲ $49,556
Other Liabilities$0$67,714▲ $67,714
Deferred Revenue-$15,000-
Total Liabilities$40,301$291,691▲ $251,390
Net Assets / Fund Balance
Total Net Assets Fund Balance$-33,920$-40,020▼ $6,100
Total Liabilities and Net Assets / Fund Balance$6,381$251,671▲ $245,290

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$22,661$2,174$24,835
Other Land Buildings$19,297-$19,297
Other Assets Org$85,136--
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Shannon K HickeyPrincipalFT$30,170$4,735$34,905

Board Members and Trustees

NameTitle
Rosie CraigBoard Chair
Jen MorrisonEducation Chair
Dominik MjartanFinance Chair
Andy AndersonFundraising Chair
Catharine AitkenMember
Crystal AldamuyMember
Darion MccloudMember
David TurnerMember
Jasmine WoodsonMember
Kathleen WarthenMember
Minuette FloydMember
Robert JesselsonMember
Simone GauseMember
Revenue and Support

Revenue Composition

Contributions and Grants
$1,078,707
Program Service Revenue
$13,751
Investment Income
$0
Other Revenue
$0
All Other Contributions
$21,907
Change in Net Assets
$-6,100

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,092,458
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,092,458
Total Revenue per Form 990
$1,092,458
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$668,813
Salaries, Compensation, and Employee Benefits$429,745
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$340,517$25,000-$365,517
Other Employee Benefits$55,062$9,166-$64,228
Other Expenses$14,918$15,162-$30,080
Fees for Services Legal$17,638$4,409-$22,047
All Other Expenses$14,570$4,073-$18,643
Interest$2,738$685-$3,423
Depreciation Depletion$1,739$435-$2,174
Fees for Services Accounting$1,600$400-$2,000
Total Functional Expenses$955,574$142,984$0$1,098,558

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,098,558
Total Expenses per Audited Statements$1,098,558
Total Expenses per Form 990$1,098,558
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$67,714
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Backup withholding compliance
Yes
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, Part VI, Section B, Line 11B

“The board of directors is presented a copy of the return for approval prior to filing. Once approved the board authorizes the treasurer to sign the return and file.”

Form 990, Part VI, Section C, Line 19

“The foundation's governing documents and financial statements are available upon written request.”

Filing and Contact Details

Filer

Filer Name
Midlands Arts Conservatory
EIN
81-2516984
Phone
8037999388
Address
3806 MAIN STREET, COLUMBIA, SC 29203

Signing Officer

Name
Rosie Craig Chair
Title
Chair
Phone
8037999388
Signed
2020-06-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rosie Craig
Formed
2016
Legal Domicile
Sc
Voting Board Members
13
Independent Board Members
13
Employees
17
Volunteers
250

Preparer

Firm
Elliott Davis Llcpllc
Address
1901 MAIN STREET SUITE 900, COLUMBIA, SC 29201
Preparer
Denise P Hill
Phone
8032560002
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Other objects: program service expenses 12,765. Management and general expenses 3,622. Fundraising expenses 0. Total expenses 16,387. Public utilitites: program service expenses 1,805. Management and general expenses 451. Fundraising expenses 0. Total expenses 2,256.”

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IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0956
IRS990/PrincipalOfficerNm0ROSIE CRAIG
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0PUPIL ACTIVITIES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt013751
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013751
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt029456
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt053046
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt00
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-23590
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt053046
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt029456
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-6100
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt013751
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0-33920
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0-40020
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt022661
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02174
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt024835
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01098558
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt027100
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt185136
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM GOVERNMENTAL UNITS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt019297
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt019297
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt067714
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DEFERRED RENT
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01092458
IRS990ScheduleD/TotalBookValueLandBuildingsAmt041958
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0112236
IRS990ScheduleD/TotalExpensesPerForm990Amt01098558
IRS990ScheduleD/TotalLiabilityAmt067714
IRS990ScheduleD/TotalRevenuePerForm990Amt01092458
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01092458
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01098558
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL'S RACIALLY NONDISCRIMANATORY POLICY IS LISTED AT THE BOTTOM OF ALL PRINTED ENROLLMENT FORMS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS IS PRESENTED A COPY OF THE RETURN FOR APPROVAL PRIOR TO FILING. ONCE APPROVED THE BOARD AUTHORIZES THE TREASURER TO SIGN THE RETURN AND FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OTHER OBJECTS: PROGRAM SERVICE EXPENSES 12,765. MANAGEMENT AND GENERAL EXPENSES 3,622. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,387. PUBLIC UTILITITES: PROGRAM SERVICE EXPENSES 1,805. MANAGEMENT AND GENERAL EXPENSES 451. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,256.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06381
IRS990/TotalAssetsEOYAmt0251671
IRS990/TotalAssetsGrp/BOYAmt06381
IRS990/TotalAssetsGrp/EOYAmt0251671
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01078707
IRS990/TotalEmployeeCnt017
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0142984
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0955574
IRS990/TotalFunctionalExpensesGrp/TotalAmt01098558
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt040301
IRS990/TotalLiabilitiesEOYAmt0291691
IRS990/TotalLiabilitiesGrp/BOYAmt040301
IRS990/TotalLiabilitiesGrp/EOYAmt0291691
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-33920
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-40020
IRS990/TotalOtherCompensationAmt04735
IRS990/TotalProgramServiceExpensesAmt0955574
IRS990/TotalProgramServiceRevenueAmt013751
IRS990/TotalReportableCompFromOrgAmt030170
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013751
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01092458
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt0250
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06381
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0251671
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt020794
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt070350
IRS990/UponRequestInd0X

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$251,671
Liabilities
$291,691
Net assets
-$40,020
Revenue
$1,092,458
Expenses
$1,098,558
Net income
-$6,100
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.00$0.07$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.42$0.13$0.29$2.23$2.09$0.13
2021Detailed filing. Detailed filing data is available for this year.$0.28$0.13$0.16$1.65$1.63$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.39$0.25$0.14$1.45$1.27$0.18
2019Detailed filing. Detailed filing data is available for this year.$0.25$0.29$0.04$1.09$1.10$0.01
2018Detailed filing. Detailed filing data is available for this year.$0.01$0.04$0.03$0.03$0.05$0.02
2017Summary only. Only limited summary data is available for this year.$0.01$0.02$0.03$0.03$0.00