Overview
What is Art Colony Association Inc?
Art Colony Association Inc is a nonprofit organization situated in Houston, Texas, specifically at 7026 Old Katy Rd 281. Their primary mission is to promote and organize high-quality fine art festivals, serving as a platform to introduce and celebrate artists. By hosting these events in urban settings, such as the Bayou City Art Festival Downtown every October, they aim to enrich the local community with diverse artistic experiences. Additionally, Art Colony Association Inc supports various local non-profit organizations by integrating them into their festivals. With a modest team of just two employees, they successfully bring art and artists to the heart of Houston.
Official website here: www.bayoucityartfestival.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star Rating.
Art Colony Association Inc has earned an 81% rating, reflecting a strong commitment to accountability and finance. The overall score is derived entirely from a single beacon score, showcasing their focus on maintaining high standards in these areas. The organization achieved a perfect score in several key metrics, including the majority of independent board members and the absence of material diversion of assets.
Strengths noted in the evaluation include a fully independent board with 11 members and robust financial management practices, as indicated by a low liabilities to assets ratio of 5.22%. Additionally, the organization demonstrates transparency and good governance with policies for conflict of interest, whistleblower protection, and proper documentation of board meeting minutes.
While the rating highlights significant strengths, it's important for potential supporters to consider the overall context of the nonprofit sector and the specific impact of Art Colony Association Inc's programs. The high program expense ratio of 85.01% suggests that the majority of resources are directed towards their mission, which is a positive indicator for donors looking to support effective charitable work.
This AI summary has been generated from information found on Charity Navigator.
Is Art Colony Association Inc legitimate?
Art Colony Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Art Colony Association 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: $88,200
Professional Fundraising Fees: $0
Other Salaries and Wages: $50,000
For more financial information, click here
Official website here: www.bayoucityartfestival.com
What is the mission statement of Art Colony Association Inc?
The Art Colony Association Inc's mission is centered around promoting and showcasing high-quality art. They achieve this by organizing fine art festivals, providing a platform for diverse artists to showcase their work. By hosting these events, they aim to introduce and popularize art within the community. Furthermore, the organization supports local non-profit organizations through these festivals. The Art Colony Association Inc's primary objective is to offer art experiences and education to the public, fostering an appreciation for art and artists.
Official website here: www.bayoucityartfestival.com
Who is the CEO of Art Colony Association Inc?
Mike Pede is the President/Chair of Art Colony Association Inc.
Official website here: www.bayoucityartfestival.com
What is the revenue of Art Colony Association Inc?
Art Colony Association Inc's revenue in 2022 was $1,387,341.
Official website here: www.bayoucityartfestival.com
Who are the executives of Art Colony Association Inc and what are their salaries?
The average compensation at Art Colony Association Inc during 2022 was $69,100. There are 2 employees and 400 volunteers at Art Colony Association Inc.
Here are 12 key members and their salaries:
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- Compensation: $84,000
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- Other: $4,200
Official website here: www.bayoucityartfestival.com
Where can I find the form 990 for Art Colony Association Inc?
Art Colony Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bayoucityartfestival.com
Learn more at the official website: www.bayoucityartfestival.com
Mission Statement of Art Colony Association Inc
The Art Colony Association Inc, a nonprofit organization, is dedicated to promoting and showcasing high-quality fine art. Their mission is to introduce and foster the appreciation of art and artists within the broader Houston community. They accomplish this by organizing urban Bayou City Art Festivals, which bring diverse artists together. By doing so, Art Colony Association Inc not only provides an avenue for artists to showcase their work but also offers educational opportunities for the general public. These festivals, such as the annual Bayou City Art Festival Downtown held in October, feature not just art, but also music, interactive activities, and a Creative Zone specifically designed for children. Furthermore, the organization supports local non-profit organizations by being a part of these events. Overall, the Art Colony Association Inc plays a significant role in enriching the cultural landscape of Houston by providing art experiences and fostering a love for art in the community.
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Impact
July, 2024
Art Colony Association Inc's impact lies in its mission to provide art experiences and education for the greater Houston community. By organizing high quality fine art festivals like the Bayou City Art Festival Downtown, the organization introduces and promotes art and artists while showcasing the downtown skyline as a backdrop for creativity. Through interactive activities, a Creative Zone for children, and diverse artists, Art Colony Association enriches the cultural landscape of Houston and supports local non-profit organizations. This commitment to promoting the arts enhances the city's vibrancy and fosters a sense of community engagement.
This information is meant to be a general summary of Art Colony Association 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: $247
- Program Service Revenue: $1,175,233
- Gross Receipts: $1,397,872
Assets and Liabilities:
- Total Assets: $423,574
- Total Liabilities: $22,140
- Net Assets: $401,434
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Admissions/other prog
Revenue
$663,979
Artist fees
Revenue
$373,165
Festival concessions
Revenue
$138,089
Organization Details
Founding Year
1994
Phone
(713) 521-0133Principal Officer
Mike Pede
Main Address
7026 Old Katy Rd 281, Houston, TX, 77024
Website
www.bayoucityartfestival.comNTEE Category
Code: A20 - Arts
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