Overview
What is The Hub On Canal Inc?
The Hub On Canal Inc, situated in New Smryna Beach, Florida, is a vibrant nonprofit dedicated to showcasing and promoting local artistic talent. By selecting emerging artists to exhibit and sell their work, The Hub provides a platform for creativity, charging a license/rental fee for wall space and studios. The revenue generated covers various expenses, including direct marketing costs, office-related expenses, occupancy, advertising, and payroll estimates. Beyond its commercial aspect, The Hub's primary mission is to foster arts education and awareness in the community, as well as offer support to the local artist community. With a team of 13 dedicated individuals, The Hub plays an essential role in nurturing and promoting the artistic culture of New Smryna Beach.
Official website here: www.thehuboncanal.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 78% (Three-Star out of Four Star rating)
The Hub On Canal Inc has received a Three-Star rating from Charity Navigator, reflecting a solid score of 78%. This rating is based entirely on their Accountability & Finance metrics, indicating that the organization adheres to good financial practices with a strong emphasis on transparency and oversight. Notably, the charity has achieved a perfect score for having a majority of independent board members and for its financial oversight procedures.
The organization scores well in areas such as liability management, maintaining a low ratio of liabilities to assets (22.01%) and a commendable working capital ratio of 4.87 years, demonstrating financial stability. However, there are significant areas for improvement, particularly concerning program expenses and fundraising efficiency. The program expense ratio is relatively low at 51.81%, which may suggest that a smaller portion of their budget is directed toward direct programmatic activities, while the fundraising efficiency ratio indicates that they spend $0.02 to raise each dollar.
While The Hub On Canal Inc has robust governance practices, the absence of certain policies, including a conflict of interest and whistleblower policy, could impact its overall accountability score. Addressing these areas would enhance their operational transparency and potentially increase their rating in future assessments.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Hub On Canal Inc?
84% of 425 reviewers on Facebook recommend The Hub On Canal Inc. Here is a summary of their reviews:
Many patrons appreciate the nonprofit for its vibrant focus on the arts, highlighting it as an excellent venue for artistic expression and community engagement. Visitors frequently note the enjoyable atmosphere and the variety of artistic offerings available, contributing to a positive experience.
Overall, it seems that The Hub On Canal Inc successfully delivers enriching experiences for those who value and participate in the arts, making it a cherished spot in the community.
This AI summary has been generated from reviews found on Facebook.
Is The Hub On Canal Inc legitimate?
The Hub On Canal Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Hub On Canal 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $369,342
For more financial information, click here
Official website here: www.thehuboncanal.org
What is the mission statement of The Hub On Canal Inc?
The Hub On Canal Inc, as an organization, is dedicated to promoting arts education and increasing public awareness about arts. It also provides support to the local artist community. This is achieved by showcasing and selling the works of emerging artists, for which the organization charges a license or rental fee for wall space and studios, and collects a commission on consignment items. The activities of The Hub On Canal Inc contribute to fostering a vibrant and creative artistic environment.
Official website here: www.thehuboncanal.org
What is the revenue of The Hub On Canal Inc?
The Hub On Canal Inc's revenue in 2023 was $3,143,263.
Official website here: www.thehuboncanal.org
Who are the executives of The Hub On Canal Inc and what are their salaries?
The average compensation at The Hub On Canal Inc during 2023 was $20,519. There are 18 employees and 60 volunteers at The Hub On Canal Inc.
Here are 8 key members and their salaries:
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Official website here: www.thehuboncanal.org
Where can I find the form 990 for The Hub On Canal Inc?
The Hub On Canal Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thehuboncanal.org
Learn more at the official website: www.thehuboncanal.org
Mission Statement of The Hub On Canal Inc
The Hub On Canal Inc, a nonprofit organization, is committed to promoting arts education and raising awareness about art in the public sphere. This mission extends to providing support for the local artist community. By selecting and showcasing the work of emerging artists, The Hub On Canal Inc offers them an opportunity to exhibit and sell their creations. In return, the organization charges a license or rental fee for the wall space and studios, as well as collecting a commission on the sale of consignment items. The funds generated are used to cover various expenses, including direct marketing costs, office expenses, occupancy costs, advertising costs, and payroll estimates. Overall, The Hub On Canal Inc serves as a platform for local artists to showcase their talent, while also fostering an appreciation for art within the community.
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Impact
July, 2024
The Hub On Canal Inc plays a vital role in fostering arts education and awareness in the local community of New Smyrna Beach, FL. By providing a platform for local emerging artists to exhibit and sell their work, The Hub supports the growth and exposure of talent in the area. Through its activities, including charging license/rental fees for wall space and working studios, as well as collecting commissions on sales, The Hub generates opportunities for artists to showcase their work and earn income. In doing so, The Hub contributes to the cultural and economic development of the local artist community.
This information is meant to be a general summary of The Hub On Canal 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 2023.
- Investment Income: $64
- Program Service Revenue: $162,541
- Gross Receipts: $3,143,263
Assets and Liabilities:
- Total Assets: $1,260,083
- Total Liabilities: $823,642
- Net Assets: $436,441
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE
Revenue
$162,541
Organization Details
Founding Year
2014
Principal Officer
Richard England
Website
www.thehuboncanal.orgNTEE Category
Code: A99 - Arts
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