THE FAYETTEVILLE ART ALLIANCE

EIN: 455196864 501(c)(3) Arts, Culture & Humanities

Fayetteville, AR

Total Revenue
$205,224
Total Expenses
$312,095
Total Assets
$49,019
Net Assets
$37,993
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
AR
Principal Officer
Sharon Killian
Phone
4798712722
Tax Period
2023-01-01 to 2023-12-31

THE FAYETTEVILLE ART ALLIANCE, founded in 2012, is a small nonprofit in the Arts, Culture & Humanities sector that reported $205K in total revenue in fiscal year 2023. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $312K exceeded revenue, resulting in a 52% operating deficit.

Mission

Art Ventures is an incubator for diverse local/regional artists and conducts K-12 art education/exhibitions, curatorial internships, and community engagement.

Program Service Accomplishments

Program 1
Expenses: $259,949 Revenue: $0

Art Ventures has fostered substantive advancements in the practices and lives of the diversity of artists we champion into the mainstream of NWA arts. Our efforts are deep, inculcating our mission...

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Art Ventures has fostered substantive advancements in the practices and lives of the diversity of artists we champion into the mainstream of NWA arts. Our efforts are deep, inculcating our mission and vision that art is for everyone through AV's K-12 Gallery Initiative providing programming for both the public school system and the home-schooled students through the gallery phase of art practice, the Sharon Killian Curatorial Internship in association with UA School of Art and the NWA Community College, and community collaborations to provide additional services to marginalized communities. Our talks and receptions are scheduled monthly both in our main gallery and off-site exhibition sites which include Theatre Squared, Fayetteville Public Library, Jim and Joyce Faulkner Performing Arts Center, and Fayetteville Chamber of Commerce. Art Ventures impacts the cultural arts and the ecosystem in a continuum that has inclusion and diversity at its base and we are proud of this achievement for local communities, for the NWA region, and for Arkansas.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $154,831
Program Service Revenue $50,393
Investment Income $0
Other Revenue $0
TOTAL REVENUE $205,224

Expense Breakdown

Grants Paid $0
Salaries & Benefits $154,490
Fundraising Expenses $10,807
Program Expenses $259,949
Other Expenses $157,605
TOTAL EXPENSES $312,095

Year-over-Year Comparison

2023 2022 Change
Revenue $205,224 $291,969 -0.3%
Expenses $312,095 $402,762 -0.2%
Net Income $-106,871 $-110,793 0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
4
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Sharon Killian President 10
Director
$0 $0 $0
Karolyn Farrell Secretary 5
Director
$0 $0 $0
Kent Oliver Treasurer 2
Director
$0 $0 $0
Quintin Canada Board Member 2
Director
$0 $0 $0
Craig Underwood Board Member 2
Director
$0 $0 $0
Syard Evans Board Member 2
Director
$0 $0 $0
Esther Silver Parker Board Member 2
Director
$0 $0 $0
Ana Aguayo Board Member 2
Director
$0 $0 $0
Jennifer Greenhill Board Member 2
Director
$0 $0 $0
Paige Phillips Board Member 2
Director
$0 $0 $0
Brie Madden Board Member 2
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2023 $205,224 $312,095 $49,019 $-106,871
2022 $291,969 $402,762 $152,698 $-110,793
2021 $166,458 $241,367 $262,725 $-74,909
2020 $261,720 $141,318 $336,323 $120,402
2019 $382,751 $198,803 $240,057 $183,948
2018 $237,332 $204,851 $79,545 $32,481
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