Overview
What is Business Consortium For Arts Support?
The Business Consortium for Arts Support, operating under the name Arts Alliance, is a nonprofit organization based in Norfolk, Virginia. Situated at 101 West Main Street 4500, this organization dedicates its efforts to granting funds to charitable organizations that support the arts or offer cultural experiences to the community. Its primary mission is to fortify major business and foundation support for arts and cultural organizations in the South Hampton Roads area, aiming to strengthen the local artistic scene. With a small team of one employee, the Consortium strives to foster a vibrant cultural landscape in its community.
Official website here: www.artsallianceva.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84%, Three-Star out of Four Star rating.
The Business Consortium for Arts Support has received a respectable Three-Star rating from Charity Navigator, indicating a solid performance in its accountability and finance metrics. The organization scored 84%, entirely derived from its financial accountability practices over the most recent fiscal year, FY2022. This score highlights the organization's commitment to transparency in financial reporting and governance.
One of the organization's notable strengths is its fully independent board, consisting of ten members, which reflects a commitment to unbiased decision-making and oversight. Additionally, it achieved perfect scores for its financial statements audit and the lack of material diversion of assets, showcasing sound financial health. The high program expense ratio of 90.47% indicates that a significant majority of its funds are directed toward its mission-related activities.
However, the organization does have areas for improvement. It lacks essential policies, such as a conflict of interest policy and a whistleblower policy, which could enhance its governance framework. Addressing these gaps could further strengthen its overall accountability and reassure stakeholders of its ethical practices.
This AI summary has been generated from information found on Charity Navigator.
Is Business Consortium For Arts Support legitimate?
Business Consortium For Arts Support is a legitimate nonprofit organization registered as a 501(c)(3) entity. Business Consortium For Arts Support 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: $74,566
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.artsallianceva.org
What is the mission statement of Business Consortium For Arts Support?
The Business Consortium for Arts Support has a mission to enhance the support for arts and cultural organizations from major businesses and foundations. By doing so, they aim to bolster the artistic and cultural experiences available to the community. Their activities primarily involve providing grants to charitable organizations that champion the arts or offer cultural experiences to the public. The consortium's objective is to foster a stronger connection between the business sector and arts organizations, ultimately enriching the cultural landscape for everyone.
Official website here: www.artsallianceva.org
Who is the CEO of Business Consortium For Arts Support?
Lisa D Wigginton is the Treasurer/Secretary of Business Consortium For Arts Support.
Official website here: www.artsallianceva.org
What is the revenue of Business Consortium For Arts Support?
Business Consortium For Arts Support's revenue in 2022 was $768,088.
Official website here: www.artsallianceva.org
Who are the executives of Business Consortium For Arts Support and what are their salaries?
The average compensation at Business Consortium For Arts Support during 2022 was $74,566. There is 1 employee at Business Consortium For Arts Support.
Here are 10 key members and their salaries:
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Official website here: www.artsallianceva.org
Where can I find the form 990 for Business Consortium For Arts Support?
Business Consortium For Arts Support's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.artsallianceva.org
Learn more at the official website: www.artsallianceva.org
Mission Statement of Business Consortium For Arts Support
The Business Consortium for Arts Support, in its mission, aims to bolster the financial support from major businesses and foundations for arts and cultural organizations situated in South Hampton Roads. By doing so, this nonprofit organization seeks to fortify the artistic and cultural landscape of the community it serves. The Consortium accomplishes this by granting funds to charitable organizations that foster the arts or provide cultural experiences for the public. These grants serve as a vital source of financial support, enabling these organizations to continue their work in enriching the community's cultural life.
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Impact
July, 2024
Business Consortium For Arts Support plays a crucial role in enhancing major business and foundation support for arts and cultural organizations in South Hampton Roads. By providing grants to charitable organizations that promote the arts and offer cultural experiences to the community, this organization significantly contributes to the vibrancy and accessibility of the arts in the region. Through its mission to strengthen support for arts and cultural entities, Business Consortium For Arts Support helps enrich the community and foster creativity and expression among residents of South Hampton Roads.
This information is meant to be a general summary of Business Consortium For Arts Support. 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: $78
- Gross Receipts: $768,088
Assets and Liabilities:
- Total Assets: $112,743
- Total Liabilities: $0
- Net Assets: $112,743
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Organization Details
Founding Year
1987
Phone
(757) 383-6047Principal Officer
Lisa D Wigginton
Main Address
101 WEST MAIN STREET 4500, NORFOLK, VA, 23510
Website
www.artsallianceva.orgNTEE Category
Code: A26 - Arts
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