Overview
What is Ball & Socket Arts Inc?
Ball & Socket Arts Inc is a nonprofit organization situated in Cheshire, Connecticut. Their primary objective is to transform a historic factory and its surroundings into a comprehensive arts and entertainment complex. This includes hosting exhibitions of contemporary artists, providing exhibition spaces for regional artists and community organizations, and presenting professional music and theater performances. Additionally, they offer educational programs for both children and adults, engaging artists in residence for special courses, and organizing a film series and screenings. Their mission encompasses promoting and sustaining community interest in the visual and performing arts, educating the general public, supporting young and needy artists, and creating a multi-faceted arts and educational center. The outdoor space around the buildings will feature a sculpture park, art walk, and direct access to the Farmington Canal Linear Park.
Official website here: www.ballandsocket.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Star rating).
Ball & Socket Arts Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong performance in terms of accountability and finance. The charity's overall score is derived entirely from its accountability and finance metrics, showcasing a commitment to transparency and responsible financial management. The organization has demonstrated excellence in key areas such as having a fully independent board and maintaining stringent financial oversight practices.
The organization excels in its governance structure, with 100% of its board members being independent, which contributes positively to its overall accountability score. Additionally, it has effectively implemented various policies, including conflict of interest and whistleblower policies, further enhancing its credibility and trustworthiness. The program expense ratio stands at a commendable 71.48%, indicating that a significant portion of its expenses is directed towards its mission-driven programs.
However, there are some areas where the organization could improve. While it maintains a healthy program expense ratio, its liabilities to assets ratio of 63.19% suggests that the charity may have some financial obligations that could impact its financial stability in the long term. Overall, Ball & Socket Arts Inc shows a strong commitment to accountability but could benefit from addressing its liabilities.
This AI summary has been generated from information found on Charity Navigator.
Is Ball & Socket Arts Inc legitimate?
Ball & Socket Arts Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ball & Socket Arts Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.ballandsocket.org
What is the mission statement of Ball & Socket Arts Inc?
Ball & Socket Arts Inc's mission is centered around fostering community interest and appreciation for both visual and performing arts. The organization aims to achieve this by educating the general public about these art forms. Additionally, it supports young and financially struggling artists by providing them with necessary resources. Furthermore, Ball & Socket Arts Inc plans to establish a multi-faceted arts and educational center, serving as a platform to host and facilitate these activities.
Official website here: www.ballandsocket.org
Who is the CEO of Ball & Socket Arts Inc?
Ilona Somogyi is the President of Ball & Socket Arts Inc.
Official website here: www.ballandsocket.org
What is the revenue of Ball & Socket Arts Inc?
Ball & Socket Arts Inc's revenue in 2022 was $1,260,388.
Official website here: www.ballandsocket.org
Who are the executives of Ball & Socket Arts Inc and what are their salaries?
There 20 volunteers at Ball & Socket Arts Inc.
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Official website here: www.ballandsocket.org
Where can I find the form 990 for Ball & Socket Arts Inc?
Ball & Socket Arts Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ballandsocket.org
Learn more at the official website: www.ballandsocket.org
Mission Statement of Ball & Socket Arts Inc
Ball & Socket Arts Inc is committed to fostering and preserving the interest and appreciation of the visual and performing arts within the community. This mission is multifaceted, encompassing three key objectives. Firstly, the organization strives to educate the general public about the diverse realms of visual and performing arts. Secondly, it seeks to support young and financially struggling artists, providing them with a platform to showcase their talents and grow in their respective fields. Lastly, Ball & Socket Arts Inc aims to establish a comprehensive arts and educational center that serves as a hub for hosting and facilitating various artistic activities. This center is intended to cater to a wide range of artistic endeavors, thereby contributing to the overall enrichment and appreciation of the arts within the community.
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Impact
July, 2024
Ball & Socket Arts Inc has made a significant impact by promoting and sustaining community interest in the visual and performing arts. Through its curated exhibitions, professional music and theater performances, and educational programs, the organization has enriched the cultural landscape of Cheshire, CT. Additionally, by supporting young and needy artists and providing opportunities for regional artists and community organizations, Ball & Socket Arts Inc has fostered a creative and inclusive environment for artists and art enthusiasts alike. The organization's vision to transform a historic factory into an arts and entertainment complex demonstrates its commitment to creating a vibrant cultural hub that benefits the community at large.
This information is meant to be a general summary of Ball & Socket Arts Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,827
- Gross Receipts: $1,470,375
Assets and Liabilities:
- Total Assets: $7,637,773
- Total Liabilities: $5,659,628
- Net Assets: $1,978,145
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Organization Details
Founding Year
2011
Principal Officer
Ilona Somogyi
Main Address
762 BETHANY MOUNTAIN ROAD, CHESHIRE, CT, 06410
Website
www.ballandsocket.orgNTEE Category
Code: A20 - Arts
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