Overview
What is The Center For Arts & Innovation Inc?
The Center for Arts & Innovation Inc. is a nonprofit organization situated in Boca Raton, Florida, with a specific mission to establish and manage a culturally enriching and economically vibrant destination in Southern Palm Beach County. This destination aims to boost and strengthen the existing arts and culture infrastructure, enhance the overall quality of life for residents, and cater to various stakeholders, including visitors and local communities. The nonprofit uniquely combines arts, technological innovation, community outreach, and education to foster the ideas of tomorrow.
Official website here: www.thecenterforartsandinnovation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars (32%)
The Center For Arts & Innovation Inc has received a low rating of 32% from Charity Navigator, resulting in a Zero-Star out of Four Stars designation. This reflects significant concerns in the areas of accountability and financial health. While the organization demonstrates strengths such as having an independent board with ten members and a well-documented conflict of interest policy, these positives are overshadowed by critical failures in financial reporting and program spending.
Notably, the nonprofit has scored zero in several key financial metrics, including the program expense ratio and fundraising efficiency ratio. This raises questions about how effectively the organization is utilizing its resources to fulfill its mission. Additionally, the absence of a whistleblower policy and poor performance in documenting financial statements further contribute to the overall low score, indicating potential governance and transparency issues.
While the organization has established some solid structural policies, the glaring financial deficiencies suggest a need for significant improvements. Stakeholders and potential donors may want to approach with caution, keeping in mind the organization's challenges and the implications for its operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is The Center For Arts & Innovation Inc legitimate?
The Center For Arts & Innovation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Center For Arts & Innovation 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: $225,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $156,000
For more financial information, click here
Official website here: www.thecenterforartsandinnovation.org
What is the mission statement of The Center For Arts & Innovation Inc?
The Center for Arts & Innovation Inc's mission is to establish and manage a culturally enriching and economically vibrant destination that promotes arts and innovation. This endeavor aims to enhance the local arts and cultural infrastructure, improving the quality of life for residents and benefiting various constituents, including visitors and business communities. The center intends to foster the ideas of tomorrow by integrating arts, technological innovation, community outreach, and education.
Official website here: www.thecenterforartsandinnovation.org
Who is the CEO of The Center For Arts & Innovation Inc?
Andrea Virgin is the CEO of The Center For Arts & Innovation Inc The CEO's salary of The Center For Arts & Innovation Inc is $225,000 and their total compensation is $225,000.
Official website here: www.thecenterforartsandinnovation.org
What is the revenue of The Center For Arts & Innovation Inc?
The Center For Arts & Innovation Inc's revenue in 2023 was $6,602,246.
Official website here: www.thecenterforartsandinnovation.org
Who are the executives of The Center For Arts & Innovation Inc and what are their salaries?
The average compensation at The Center For Arts & Innovation Inc during 2023 was $127,000. There are 3 employees and 17 volunteers at The Center For Arts & Innovation Inc.
Here are 13 key members and their salaries (The Center For Arts & Innovation Inc's CEO's salary is $225,000 and their total compensation is $225,000):
- Compensation: $225,000
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- Other: $0
Official website here: www.thecenterforartsandinnovation.org
Where can I find the form 990 for The Center For Arts & Innovation Inc?
The Center For Arts & Innovation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.thecenterforartsandinnovation.org
Learn more at the official website: www.thecenterforartsandinnovation.org
Mission Statement of The Center For Arts & Innovation Inc
The Center for Arts & Innovation Inc aims to explore the possibility of establishing a comprehensive, economically vibrant, innovative, and sustainable cultural destination. This endeavor is intended to enhance the arts and cultural infrastructure within the city, benefiting its residents, patrons, visitors, and various organizations. The center intends to achieve this goal by fostering the cultivation of tomorrow's ideas through the intersection of arts, technological innovation, community outreach, and education. The mission of The Center for Arts & Innovation Inc is to create, own, manage, and operate a facility that will not only improve the quality of life for local residents but also attract visitors and contribute to the overall growth and development of the civic and business communities.
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Impact
July, 2024
The Center For Arts & Innovation Inc aims to create a comprehensive, economically-vibrant, and sustainable cultural arts destination in Boca Raton, Florida. This initiative is designed to build and enhance arts and culture infrastructure, improve the quality of life for residents, benefit visitors and civic and business communities, and cultivate the ideas of tomorrow through the intersection of arts, technological innovation, community outreach, and education. The impact of The Center For Arts & Innovation Inc is to transform Boca Raton into a thriving cultural hub that celebrates creativity, fosters innovation, and enriches the lives of all those in the community.
This information is meant to be a general summary of The Center For Arts & Innovation 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: $241,990
- Gross Receipts: $6,602,246
Assets and Liabilities:
- Total Assets: $6,419,239
- Total Liabilities: $15,695
- Net Assets: $6,403,544
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Organization Details
Founding Year
2018
Principal Officer
Andrea Virgin
NTEE Category
Code: A61 - Arts
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