Liabilities / Assets
21st percentile
Higher debt load relative to assets than 21% of similar nonprofits.
Magic Valley Arts Council Inc.
990 • Fiscal year 2016 • EIN 94-3087224
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.01x
Liabilities / Revenue
27th percentile
Higher debt load relative to revenue than 27% of similar nonprofits.
Net Margin
11th percentile
Higher net margin than 11% of similar nonprofits.
Top Officer Pay
35th percentile
Higher top officer pay than 35% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
20th percentile
Faster asset growth than 20% of similar nonprofits.
Revenue Growth
29th percentile
Faster revenue growth than 29% of similar nonprofits.
Balance Sheet
Assets
Down$1,211,657
Down $71,706 (-5.6%) from 2015
Net Assets
Down$1,205,591
Down $75,500 (-5.9%) from 2015
Liabilities
Up$6,066
Up $3,794 (+167%) from 2015
Revenue And Expenses
Revenue
Down$249,251
Down $15,373 (-5.8%) from 2015
Expenses
Up$324,751
Up $38,180 (+13%) from 2015
Net Income
Down-$75,500
Down $53,553 (-244%) from 2015
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- May 1, 2015 to Apr 30, 2016
- Signed
- Jul 21, 2016
- Return Version
- 2015v2.1
- Gross Receipts
- $249,251
Mission and Program Overview
Mission
The Magic Valley Arts council is a non-profit agency that fosters and promotes art and cultural experiences for all people in the Greater Twin Falls area and surrounding Magic Valley Region.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Rtn Earn Endowment Incm Other Fnds | $1,281,091 | $1,205,591 | ▼ $75,500 |
| Land, Buildings, and Equipment, Net | $1,205,688 | $1,153,006 | ▼ $52,682 |
| Cash and Non-Interest-Bearing Accounts | $55,547 | $37,297 | ▼ $18,250 |
| Savings and Temporary Cash Investments | $22,128 | $21,354 | ▼ $774 |
| Total Assets | $1,283,363 | $1,211,657 | ▼ $71,706 |
| Liabilities | |||
| Deferred Revenue | - | $4,033 | - |
| Accounts Payable and Accrued Expenses | $2,272 | $2,033 | ▼ $239 |
| Total Liabilities | $2,272 | $6,066 | ▲ $3,794 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $1,281,091 | $1,205,591 | ▼ $75,500 |
| Total Liabilities and Net Assets / Fund Balance | $1,283,363 | $1,211,657 | ▼ $71,706 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $1,012,152 | $134,488 | $1,146,640 |
| Equipment | $65,854 | $187,925 | $253,779 |
| Land | $75,000 | - | $75,000 |
Compensation and Service Providers
Board Members and Trustees
| Name | Title |
|---|---|
| Mary Lou Panatopoulos | President |
| Becky Barth | Vice President |
| Alice Elwood | Board Member |
| Cheryl Wheeler | Board Member |
| Jan Mittleider | Board Member |
| Jean Shawver | Board Member |
| Mardo Eaton | Board Member |
| Nikki Halverson | Board Member |
| Ron Silvers | Board Member |
| Carolyn White | Executive Director |
| Alice Anderson | Secretary |
| Shawn Broadbent | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $121,356
- Program Service Revenue
- $93,786
- Investment Income
- $0
- Other Revenue
- $34,109
- All Other Contributions
- $82,682
- Change in Net Assets
- $-75,500
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $239,715 |
| Salaries, Compensation, and Employee Benefits | $85,036 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| All Other Expenses | $116,156 | $12,815 | - | $128,971 |
| Depreciation Depletion | - | $53,239 | - | $53,239 |
| Current Officers, Directors, Trustees, and Key Employees | - | $40,621 | - | $40,621 |
| Occupancy | - | $40,385 | - | $40,385 |
| Other Salaries and Wages | - | $38,088 | - | $38,088 |
| Payroll Taxes | - | $6,327 | - | $6,327 |
| Office Expenses | - | $3,122 | - | $3,122 |
| Fees for Services Other | - | $3,067 | - | $3,067 |
| Insurance | - | $2,675 | - | $2,675 |
| Fees for Services Legal | - | $1,900 | - | $1,900 |
| Conferences and Meetings | - | $568 | - | $568 |
| Advertising | - | $459 | - | $459 |
| Travel | - | $234 | - | $234 |
| Other Expenses | - | $119 | - | $119 |
| Total Functional Expenses | $116,156 | $208,595 | $0 | $324,751 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| 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 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
“The Board Treasurer conducts the initial 990 review in consultation with the tax return CPA. The Treasurer then presents the form 990 to the entire board for consideration and authorization of signature.”
Conflict of interest policy compliance Part VI line 12C
“The Magic Valley Arts Council adheres to a Conflict of Interest Policy that includes definitions regarding interested person, financial interest, and independent director. The policy provides procedures for duty to disclose; recusal of self; determining whether a conflict exists; procedures for addressing a conflict of interest; and, for violations of the conflict of interest policy. The policy provides a provision for creating and maintaining documentation of the records of proceedings regarding conflicts. The policy precludes compensated directors from voting on matters pertaining to compensation. An annual review of the policy is conducted by the Board of Directors with each director, principal officer and committee members affirming receipt and understanding of the policy.”
CEO executive director top management comp Part VI line 15A
“The Board of Directors reviews the compensation policy annually and establishes and approves compensation for the executive director for the coming year.”
Other officer or key employee compensation Part VI line 15B
“The Board of Directors reviews the compensation policy annually and establishes and approves compensation for officers and key employees for the coming year.”
Governing documents etc available to public Part VI line 19
“The Board of Directors maintains a policy of keeping governing documents, tax returns, and operational policies and procedures available for public review. These documents are available upon request through the main office of the Magic Valley Arts Council.”
Filing and Contact Details
Filer
- Filer Name
- Magic Valley Arts Council
- EIN
- 94-3087224
- Address
- 195 River Vista Place, Twin Falls, ID 83301
Signing Officer
- Name
- Carolyn White
- Title
- Treasurer
- Phone
- 2087342787
- Signed
- 2016-07-21
- Discuss with paid preparer
- Yes
Organization Details
- Formed
- 1989
- Legal Domicile
- Id
- Voting Board Members
- 11
- Independent Board Members
- 11
- Employees
- 3
- Volunteers
- 13
Preparer
- Firm
- Tilley and Lincoln Pllc
- Address
- 691 Addison Ave, Twin Falls, ID 83301
- Preparer
- Dennis Tilley
- Phone
- 2087335811
Supplemental Narrative
Additional Explanations
List of other expenses Part IX line 24E
“Other expenses include program specific expenses of $87,115 and operational expenses of $18,3046.”
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| IRS990/OtherExpensesGrp/Desc | 3 | Business Expense |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 1381 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 3065 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 2 | 530 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 3 | 119 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 1381 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 3065 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 530 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 119 |
| IRS990/OtherRevenueMiscGrp/BusinessCd | 0 | 711190 |
| IRS990/OtherRevenueMiscGrp/Desc | 0 | Interest Income |
| IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt | 0 | 180 |
| IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt | 0 | 180 |
| IRS990/OtherRevenueTotalAmt | 0 | 180 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 38088 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 38088 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 6327 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 6327 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 711190 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | Programs |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 93786 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 93786 |
| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | Full Moon Gallery of Fine Art and Contemporary Craft displays and sells the art of local artist from various disciplines and artistic styles. Over 6000 community members take advantage of the art displays and sale items. |
| IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt | 0 | 27679 |
| IRS990/ProgSrvcAccomActy2Grp/RevenueAmt | 0 | 39967 |
| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | Jazz on the Canyon performances open to the general public and attended by over 300 community members. |
| IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt | 0 | 16559 |
| IRS990/ProgSrvcAccomActy3Grp/RevenueAmt | 0 | 22620 |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | The Magic Valley Arts Council in partnership with the Missoula Childrens Theatre produced a local play featuring 63 local kids and 2 performances attended by over 650 community members. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 1 | The Kids Art in the Park program sponsored by the Magic Valley Arts Council encourages local children to develop an understanding and appreciation for artwork by engaging in active participation. This program served approximately 350 children this year. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 2 | Sponsored discounted Art Classes to the general public and attended by about 100 community members. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 3 | Magic Valley Arts Council hosted Titan Hot Seven, a concert with over 40 tickets sold. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 4 | Magic Valley Arts Council participated in, Magic Valley Festival of Giving fundraiser to support local charities and non-profits. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 5 | The Magic Valley Arts Council in partnership with the College of Southern Idaho provides Arts on Tour, a performing arts musical and dance production serving the general public with over 6000 tickets sold. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 6 | Hosts a Camera Club with monthly meetings, lectures and presentations with 60 participants. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 7 | The Magic Valley Arts Council hosted Art of the Gift, featuring the creative works of more than 30 local authors and artists, attended by the general public. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 8 | Magic Valley Arts Council Hosted Indie Lens Pop-Up Film Series, a national documentary screening series that is a groundbreaking public education and civic engagement initiative, open to the general public. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 9 | Hosted 4 Brown Bag Lecture Series with 80 attendees per lecture. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 10 | Hosted a free concert with proformances by Twin Falls Municipal, open to the public. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 11 | Magic Valley Arts Councils Full Moon Gallery hosted Idaho Bookers Dozen, an exhibition of Artists Books. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 12 | Hosted local art teaching exhibit featuring work by local art teachers, open to the public. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 13 | Hosted traveling exhibitions of the Idaho Watercolor Society, which was open to the public. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 14 | The Magic Valley Arts Council sponsors the permanent public displays of prominent local sculptures throughout the city of Twin Falls including the Millennium Sculptures located throuhgout the city; the Centennial Art Project sculpture of I.B. Perrine located at the Buzz Langdon Visitors Center; and, the Twins sculpture located on the Perrine Bridge Trail view point. |
| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 15 | Magic Valley Arts Council hosted WWII, an uprooted exhibit of Japanese farm labor camps, attended by the general public. |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 0 | 5980 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 1 | 4479 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 2 | 3161 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 3 | 3104 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 4 | 1377 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 5 | 1300 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 6 | 898 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 7 | 428 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 8 | 393 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 9 | 357 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 10 | 42 |
| IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt | 11 | 32 |
| IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt | 0 | 4063 |
| IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt | 1 | 7395 |
| IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt | 2 | 2125 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 0 | 2710 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 1 | 2108 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 2 | 4888 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 3 | 1132 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 4 | 5233 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 5 | 2000 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 6 | 2343 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 7 | 215 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 8 | 972 |
| IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt | 9 | 250 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYContributionsGrantsAmt | 0 | 57595 |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYInvestmentIncomeAmt | 0 | 12549 |
| IRS990/PYOtherExpensesAmt | 0 | 235464 |
| IRS990/PYOtherRevenueAmt | 0 | 33391 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 161089 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | -21947 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 51107 |
| IRS990/PYTotalExpensesAmt | 0 | 286571 |
| IRS990/PYTotalRevenueAmt | 0 | 264624 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | -75500 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/RentalIncomeOrLossGrp/RealAmt | 0 | 33929 |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | false |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 14688 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt | 0 | 1281091 |
| IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt | 0 | 1205591 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 22128 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 21354 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt | 0 | 121356 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt | 0 | 57595 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 70066 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 119987 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 250687 |
| IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt | 0 | 619691 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 180 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 49 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 27 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 3 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 259 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 93786 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 161089 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 123736 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 142908 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 36970 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 558489 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 180 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 49 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt | 0 | 27 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt | 0 | 3 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 259 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.00000 |
| IRS990ScheduleA/InvestmentIncomePYPct | 0 | 0.00000 |
| IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt | 0 | 33929 |
| IRS990ScheduleA/OtherIncome509Grp/TotalAmt | 0 | 33929 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 0.97180 |
| IRS990ScheduleA/PublicSupportPY509Pct | 0 | 1.00000 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 1178180 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 215142 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 218684 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 193802 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 262895 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 287657 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 1178180 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 249251 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 218733 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 193829 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 262895 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 287660 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 1212368 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/BuildingsGrp/BookValueAmt | 0 | 1012152 |
| IRS990ScheduleD/BuildingsGrp/DepreciationAmt | 0 | 134488 |
| IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt | 0 | 1146640 |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 65854 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 187925 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 253779 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 75000 |
| IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt | 0 | 75000 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 1153006 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | The Board Treasurer conducts the initial 990 review in consultation with the tax return CPA. The Treasurer then presents the form 990 to the entire board for consideration and authorization of signature. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The Magic Valley Arts Council adheres to a Conflict of Interest Policy that includes definitions regarding interested person, financial interest, and independent director. The policy provides procedures for duty to disclose; recusal of self; determining whether a conflict exists; procedures for addressing a conflict of interest; and, for violations of the conflict of interest policy. The policy provides a provision for creating and maintaining documentation of the records of proceedings regarding conflicts. The policy precludes compensated directors from voting on matters pertaining to compensation. An annual review of the policy is conducted by the Board of Directors with each director, principal officer and committee members affirming receipt and understanding of the policy. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | The Board of Directors reviews the compensation policy annually and establishes and approves compensation for the executive director for the coming year. |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2016 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $1,211,657
- Liabilities
- $6,066
- Net assets
- $1,205,591
- Revenue
- $249,251
- Expenses
- $324,751
- Net income
- -$75,500