Liabilities / Assets
82nd percentile
Higher debt load relative to assets than 82% of similar nonprofits.
EIN 87-0340155 • 501(c)3 • Salt Lake City, UT
Profile
Visual art institute's mission is to foster and nurture creative, artistic development and personal growth through high quality art instruction for all ages, abilities, and backgrounds along the wasatch front.
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
82nd percentile
Higher debt load relative to assets than 82% of similar nonprofits.
Liabilities / Revenue
86th percentile
Higher debt load relative to revenue than 86% of similar nonprofits.
Net Margin
86th percentile
Higher net margin than 86% of similar nonprofits.
Top Officer Pay
70th percentile
Higher top officer pay than 70% of similar nonprofits.
Top officer pay equals 6.5% of source-year revenue.
Asset Growth
84th percentile
Faster asset growth than 84% of similar nonprofits.
Revenue Growth
61st percentile
Faster revenue growth than 61% of similar nonprofits.
Assets
Up$1,910,520
Up $432,679 (+29%) from 2023
Liabilities
Down$939,600
Down $41,114 (-4.2%) from 2023
Net Assets
Up$970,920
Up $473,793 (+95%) from 2023
Revenue
Up$1,146,221
Up $136,750 (+14%) from 2023
Expenses
Down$672,428
Down $6,688 (-1.0%) from 2023
Net Income
Up$473,793
Up $143,438 (+43%) from 2023
Most recent year
2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.
Visual Art Institute's mission is to foster and nurture creative artistic development and personal growth through high quality art instruction for all ages abilities and backgrounds along the Wasatch front
Visual art institute's mission is to foster and nurture creative, artistic development and personal growth through high quality art instruction for all ages, abilities, and backgrounds along the wasatch front.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $428,745 | $452,759 | ▲ $24,014 |
| Pledges and Grants Receivable | $78,000 | $276,000 | ▲ $198,000 |
| Cash and Non-Interest-Bearing Accounts | $51,504 | $195,119 | ▲ $143,615 |
| Savings and Temporary Cash Investments | $475 | $126,155 | ▲ $125,680 |
| Accounts Receivable | $15,295 | $8,520 | ▼ $6,775 |
| Prepaid Expenses and Deferred Charges | $7,503 | $8,338 | ▲ $835 |
| Total Assets | $1,477,841 | $1,910,520 | ▲ $432,679 |
| Other Assets Total | $896,319 | $843,629 | ▼ $52,690 |
| Liabilities | |||
| Other Liabilities | $923,780 | $888,257 | ▼ $35,523 |
| Deferred Revenue | $36,153 | $29,009 | ▼ $7,144 |
| Accounts Payable and Accrued Expenses | $12,323 | $16,776 | ▲ $4,453 |
| Unsecured Notes Loans Payable | $8,458 | $5,558 | ▼ $2,900 |
| Total Liabilities | $980,714 | $939,600 | ▼ $41,114 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $352,784 | $714,920 | ▲ $362,136 |
| Net Assets With Donor Restrictions | $144,343 | $256,000 | ▲ $111,657 |
| Total Net Assets Fund Balance | $497,127 | $970,920 | ▲ $473,793 |
| Total Liabilities and Net Assets / Fund Balance | $1,477,841 | $1,910,520 | ▲ $432,679 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $404,377 | $45,831 | $450,208 |
| Equipment | $48,382 | $21,662 | $70,044 |
| Other Assets Org | $843,629 | - | - |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Bruce Robertson | Art Director | FT | $72,250 | $2,160 | $74,410 |
| Hana Janatova | Executive Di | FT | $27,750 | - | $27,750 |
| Name | Title |
|---|---|
| Kelly Murdock | President |
| Jason Wheeler | Board Presid |
| James Rees | Director |
| Laurie Bray | Director |
| Michael Green | Director |
| Scott Jensen | Director |
| Tamara Copier | Director |
| Elise Murdock | Secretary |
| Julie Berry | Treasurer |
| Margaret Griffin | Treasurer |
| Michael Dowdle | Vice Preside |
| Line Item | Amount |
|---|---|
| Other Expenses | $395,353 |
| Salaries, Compensation, and Employee Benefits | $277,075 |
| Total Fundraising Expense | $28,956 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $136,341 | $15,675 | $1,964 | $153,980 |
| Occupancy | $127,531 | $8,861 | $2,970 | $139,362 |
| Fees for Services Other | $115,325 | $250 | $59 | $115,634 |
| Current Officers, Directors, Trustees, and Key Employees | $65,962 | $24,595 | $11,604 | $102,161 |
| Depreciation Depletion | $34,570 | $4,542 | $1,514 | $40,626 |
| Payroll Taxes | $14,846 | $2,946 | $987 | $18,779 |
| Office Expenses | $13,753 | $2,729 | $914 | $17,396 |
| Fees for Services Accounting | - | $10,300 | - | $10,300 |
| Insurance | $5,622 | $1,116 | $374 | $7,112 |
| Other Expenses | $4,618 | $1,061 | $307 | $5,986 |
| Advertising | $5,854 | - | - | $5,854 |
| All Other Expenses | $2,739 | $1,468 | $182 | $4,389 |
| Travel | $3,472 | - | - | $3,472 |
| Pension Plan Contributions | $1,899 | $245 | $11 | $2,155 |
| Conferences and Meetings | - | $311 | - | $311 |
| Total Functional Expenses | $569,155 | $74,317 | $28,956 | $672,428 |
| Line Item | Amount |
|---|---|
| Total Expenses per Audited Statements | $685,590 |
| Expenses per Audited Statements | $672,428 |
| Total Expenses per Form 990 | $672,428 |
| Expenses Not Reported on Form 990 | $13,162 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Liability | Amount |
|---|---|
| Lease Liability | $888,257 |
“The organizations form 990 was prepared by the organizations executive director and treasurer. A complete copy of the form 990 was provided to the organizations board of directors for approval before it was filed.”
“The organization provides a copy of its conflict-of-interest policy to all board members and management during onboarding. In addition, a copy is provided annually. All board members and management are required to review the policy and sign a disclosure statement, which acknowledges and understanding of the policy and discloses any potential conflicts of interest they are aware of. All potential conflicts of interest are reviewed by the executive committee to determine the appropriate action to be taken to eliminate or mitigate risks posed by the conflict. The organization requires that board members with conflict of interest be recused from the deliberation and voting related to a transaction or action in which they may have conflict.”
“At the time or hire and on an annual basis following, a committee of the board of directors establishes the executive directors compensation. The organization requires that no member of the committee have a conflict of interest related to the compensation arrangement. The committee uses salary surveys (including the utah nonprofits association compensation survey), publicly available 990s, and other information for similar positions and similar organizations within the region to establish a reasonable level of compensation. The committee contemporaneously documents its discussions and decisions in committee minutes. The organizations voting board members do not receive compensation from the organization.”
“At the time or hire and on an annual basis following, a committee of the board of directors establishes the art directors compensation. The organization requires that no member of the committee have a conflict of interest related to the compensation arrangement. The committee uses salary surveys (including the utah nonprofits association compensation survey), publicly available 990s, and other information for similar positions and similar organizations within the region to establish a reasonable level of compensation. The committee contemporaneously documents its discussions and decisions in committee minutes. The organizations voting board members do not receive compensation from the organization.”
“The organizations governing documents, conflict of interest policy, and financial statements are available upon request to the organizations office. In addition, the organizations 990s for the past several years are available through candid.org and the organizations articles of incorporation are available through the utah department of commerce division of corporations and commercial code.”
“Art instructors 101,075 0 0 models 6,859 0 0 other 7,391 250 59 total 115,325 250 59”
“Donated advertising 13,162 donated advertising -13,162”
“The organization has been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(c)(3), qualifying for the charitable contribution deduction under section 170(b)(1)(a)(ii), and has been determined not to be a private foundation under section 509(a). The organization is annually required to file a return of organization exempt from income tax (form 990) and is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. Management has determined that the organization is not subject to unrelated business income tax. Management believes that the organization has appropriate support for any tax positions taken in its annual filing and does not have any uncertain tax positions that are material to the financial statements. The organization's forms 990 are no longer subject to tax examination for years before 2021.”
“Donated advertising 13,162”
“Donated advertising 13,162”
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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|---|---|---|
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| IRS990/AccountsReceivableGrp/EOYAmt | 0 | 8520 |
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| IRS990/ActivityOrMissionDesc | 0 | VISUAL ART INSTITUTE'S MISSION IS TO FOSTER AND NURTURE CREATIVE, ARTISTIC DEVELOPMENT AND PERSONAL GROWTH THROUGH HIGH QUALITY ART INSTRUCTION FOR ALL AGES, ABILITIES, AND BACKGROUNDS ALONG THE WASATCH FRONT. |
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| IRS990/AllOtherExpensesGrp/TotalAmt | 0 | 4389 |
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| IRS990/CYRevenuesLessExpensesAmt | 0 | 473793 |
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| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 40626 |
| IRS990/Desc | 0 | THE ORGANIZATION FULFILLS ITS MISSION BY PROVIDING ART CLASSES TO KIDS, TEENS, AND ADULTS AND EDUCATIONAL COMMUNITY OUTREACH. IN 2024 VAI HELD CLASSES IN SOUTH SALT LAKE AND HIGHLAND. WE PROVIDED 54 SUMMER CAMPS AND WORKSHOPS. WE HELD 98 12-WEEK CLASSES, WE PROVIDED 172 HOURS OF COMMUNITY OUTREACH WITH 9 COMMUNITY PARTNERS, WE HOSTED 3 EXHIBITIONS IN OUR GALLERY, AND REACHED OVER 3,600 INDIVIDUALS THROUGH OUR ART PROGRAMS. |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | EXECUTIVE DI |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | ART DIRECTOR |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | BOARD PRESID |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 4 | VICE PRESIDE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 5 | TREASURER |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 6 | TREASURER |
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| IRS990/Form990ProvidedToGvrnBodyInd | 0 | true |
| IRS990/FormationYr | 0 | 1978 |
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| IRS990/GrantsToOrganizationsInd | 0 | false |
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| IRS990/InsuranceGrp/FundraisingAmt | 0 | 374 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 1116 |
| IRS990/InsuranceGrp/ProgramServicesAmt | 0 | 5622 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 7112 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 1135 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 1135 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/IRPDocumentCnt | 0 | 23 |
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| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 520252 |
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| IRS990/LoanOutstandingInd | 0 | false |
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| IRS990/MissionDesc | 0 | VISUAL ART INSTITUTE'S MISSION IS TO FOSTER AND NURTURE CREATIVE, ARTISTIC DEVELOPMENT AND PERSONAL GROWTH THROUGH HIGH QUALITY ART INSTRUCTION FOR ALL AGES, ABILITIES, AND BACKGROUNDS ALONG THE WASATCH FRONT. |
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| IRS990/OtherExpensesGrp/Desc | 2 | BANK AND MERCHANT FEES |
| IRS990/OtherExpensesGrp/Desc | 3 | DUES AND SUBSCRIPTIONS |
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| IRS990/OtherExpensesGrp/FundraisingAmt | 1 | 307 |
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| IRS990/OtherExpensesGrp/ProgramServicesAmt | 3 | 4618 |
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| IRS990/OtherExpensesGrp/TotalAmt | 1 | 8450 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 7882 |
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| IRS990ScheduleA/SchoolInd | 0 | X |
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| IRS990ScheduleD/OtherAssetsOrgGrp/Desc | 0 | RIGHT OF USE ASSET |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | LEASE LIABILITY |
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| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3), QUALIFYING FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(II), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A). THE ORGANIZATION IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) AND IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. MANAGEMENT HAS DETERMINED THAT THE ORGANIZATION IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN IN ITS ANNUAL FILING AND DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S FORMS 990 ARE NO LONGER SUBJECT TO TAX EXAMINATION FOR YEARS BEFORE 2021. |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 1 | DONATED ADVERTISING 13,162 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 2 | DONATED ADVERTISING 13,162 |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE D, PAGE 4, PART XI, LINE 2D |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | SCHEDULE D, PAGE 4, PART XII, LINE 2D |
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| IRS990ScheduleD/TotalBookValueOtherAssetsAmt | 0 | 843629 |
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| IRS990ScheduleD/TotalLiabilityAmt | 0 | 888257 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 1146221 |
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| IRS990ScheduleE/DiscriminateRaceEducPlcyInd | 0 | false |
| IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd | 0 | false |
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| IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd | 0 | true |
| IRS990ScheduleE/MaintainRacialCompRecsInd | 0 | false |
| IRS990ScheduleE/MaintainScholarshipsRecsInd | 0 | true |
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| IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd | 0 | true |
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| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 0 | AS AN ORGANIZATION WITH A DEEP BELIEF IN THE TRANSFORMATIVE POWER OF ART, VISUAL ART INSTITUTE COMMITS TO SERVING AS A PLACE OF EQUITY, DIVERSITY, AND INCLUSION FOR EVERYONE IN OUR COMMUNITY. WE CHAMPION HUMAN EXPRESSION AND THE PURSUIT OF SOCIAL JUSTICE. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 1 | DURING THE YEAR, THE ORGANIZATION DID NOT TRACK THE RACIAL COMPOSITION OF ITS STUDENTS. HOWEVER, THE ORGANIZATION'S MANAGEMENT TEAM HAS IDENTIFIED THIS ERROR AND IS TAKING ACTION. |
| IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt | 2 | THE ORGANIZATION RECEIVED GOVERNMENT GRANTS AS DISCLOSED IN THE STATEMENT OF ACTIVITIES. THESE ARE NOT STUDENT FINANCIAL AID AWARDS. |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE E, LINE 3 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | SCHEDULE E, LINE 4 |
| IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | SCHEDULE E, LINE 6 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | THE ORGANIZATIONS FORM 990 WAS PREPARED BY THE ORGANIZATIONS EXECUTIVE DIRECTOR AND TREASURER. A COMPLETE COPY OF THE FORM 990 WAS PROVIDED TO THE ORGANIZATIONS BOARD OF DIRECTORS FOR APPROVAL BEFORE IT WAS FILED. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE ORGANIZATION PROVIDES A COPY OF ITS CONFLICT-OF-INTEREST POLICY TO ALL BOARD MEMBERS AND MANAGEMENT DURING ONBOARDING. IN ADDITION, A COPY IS PROVIDED ANNUALLY. ALL BOARD MEMBERS AND MANAGEMENT ARE REQUIRED TO REVIEW THE POLICY AND SIGN A DISCLOSURE STATEMENT, WHICH ACKNOWLEDGES AND UNDERSTANDING OF THE POLICY AND DISCLOSES ANY POTENTIAL CONFLICTS OF INTEREST THEY ARE AWARE OF. ALL POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE EXECUTIVE COMMITTEE TO DETERMINE THE APPROPRIATE ACTION TO BE TAKEN TO ELIMINATE OR MITIGATE RISKS POSED BY THE CONFLICT. THE ORGANIZATION REQUIRES THAT BOARD MEMBERS WITH CONFLICT OF INTEREST BE RECUSED FROM THE DELIBERATION AND VOTING RELATED TO A TRANSACTION OR ACTION IN WHICH THEY MAY HAVE CONFLICT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | AT THE TIME OR HIRE AND ON AN ANNUAL BASIS FOLLOWING, A COMMITTEE OF THE BOARD OF DIRECTORS ESTABLISHES THE EXECUTIVE DIRECTORS COMPENSATION. THE ORGANIZATION REQUIRES THAT NO MEMBER OF THE COMMITTEE HAVE A CONFLICT OF INTEREST RELATED TO THE COMPENSATION ARRANGEMENT. THE COMMITTEE USES SALARY SURVEYS (INCLUDING THE UTAH NONPROFITS ASSOCIATION COMPENSATION SURVEY), PUBLICLY AVAILABLE 990S, AND OTHER INFORMATION FOR SIMILAR POSITIONS AND SIMILAR ORGANIZATIONS WITHIN THE REGION TO ESTABLISH A REASONABLE LEVEL OF COMPENSATION. THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS ITS DISCUSSIONS AND DECISIONS IN COMMITTEE MINUTES. THE ORGANIZATIONS VOTING BOARD MEMBERS DO NOT RECEIVE COMPENSATION FROM THE ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | AT THE TIME OR HIRE AND ON AN ANNUAL BASIS FOLLOWING, A COMMITTEE OF THE BOARD OF DIRECTORS ESTABLISHES THE ART DIRECTORS COMPENSATION. THE ORGANIZATION REQUIRES THAT NO MEMBER OF THE COMMITTEE HAVE A CONFLICT OF INTEREST RELATED TO THE COMPENSATION ARRANGEMENT. THE COMMITTEE USES SALARY SURVEYS (INCLUDING THE UTAH NONPROFITS ASSOCIATION COMPENSATION SURVEY), PUBLICLY AVAILABLE 990S, AND OTHER INFORMATION FOR SIMILAR POSITIONS AND SIMILAR ORGANIZATIONS WITHIN THE REGION TO ESTABLISH A REASONABLE LEVEL OF COMPENSATION. THE COMMITTEE CONTEMPORANEOUSLY DOCUMENTS ITS DISCUSSIONS AND DECISIONS IN COMMITTEE MINUTES. THE ORGANIZATIONS VOTING BOARD MEMBERS DO NOT RECEIVE COMPENSATION FROM THE ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | THE ORGANIZATIONS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST TO THE ORGANIZATIONS OFFICE. IN ADDITION, THE ORGANIZATIONS 990S FOR THE PAST SEVERAL YEARS ARE AVAILABLE THROUGH CANDID.ORG AND THE ORGANIZATIONS ARTICLES OF INCORPORATION ARE AVAILABLE THROUGH THE UTAH DEPARTMENT OF COMMERCE DIVISION OF CORPORATIONS AND COMMERCIAL CODE. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | ART INSTRUCTORS 101,075 0 0 MODELS 6,859 0 0 OTHER 7,391 250 59 TOTAL 115,325 250 59 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 6 | DONATED ADVERTISING 13,162 DONATED ADVERTISING -13,162 |
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