BUSINESS CONSORTIUM FOR ARTS SUPPORT

EIN: 541437382 501(c)(3)

NORFOLK, VA

Total Revenue
$760,546
Total Expenses
$758,450
Total Assets
$89,674
Net Assets
$89,674
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
VA
Principal Officer
MICHAEL BERLUCCHI
Phone
7573836047
Tax Period
2024-01-01 to 2024-12-31

BUSINESS CONSORTIUM FOR ARTS SUPPORT, founded in 1987, is a small nonprofit that reported $761K in total revenue in fiscal year 2024.

Mission

TO STRENGTHEN MAJOR BUSINESS AND FOUNDATION SUPPORT FOR ARTS AND CULTURAL ORGANIZATIONS OF SOUTH HAMPTON ROADS.

Program Service Accomplishments

Program 1
Expenses: $676,918

GRANTS TO CHARITABLE ORGANIZATIONS WHICH SUPPORT THE ARTS OR PROVIDE CULTURAL EXPERIENCES TO THE COMMUNITY.

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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 (2024)

Revenue Breakdown

Contributions & Grants $760,475
Program Service Revenue $0
Investment Income $71
Other Revenue $0
TOTAL REVENUE $760,546

Expense Breakdown

Grants Paid $647,513
Salaries & Benefits $91,429
Fundraising Expenses $40,343
Program Expenses $676,918
Other Expenses $19,508
TOTAL EXPENSES $758,450

Year-over-Year Comparison

2024 2023 Change
Revenue $760,546 $753,353 +0.0%
Expenses $758,450 $778,518 0.0%
Net Income $2,096 $-25,165 -1.1%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
15
Independent Members
15
Employees
1
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
3
$77,691
Total Directors
15
$77,691
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
PETER HUBER SECRETARY 1.00
Officer Director
$0 $0 $0
KAREN BRADLEY MEMBER 1.00
Director
$0 $0 $0
SCOTT MCCLUNEY MEMBER 1.00
Director
$0 $0 $0
LISA D WIGGINTON VICE PRESIDENT/EXECUTIVE D 40.00
Officer Director
$77,691 $0 $77,691
MICHAEL FOWLER MEMBER 1.00
Director
$0 $0 $0
DAVID KAMER MEMBER 1.00
Director
$0 $0 $0
SHANE SMITH MEMBER 1.00
Director
$0 $0 $0
WALKER PHILLIPS PRESIDENT 2.00
Officer Director
$0 $0 $0
TOM RETNAUER MEMBER 1.00
Director
$0 $0 $0
LEWIS W WEBB III MEMBER 1.00
Director
$0 $0 $0
EVA FERNANDEZ MEMBER 1.00
Director
$0 $0 $0
JOHNNY JIMENEZ MEMBER 1.00
Director
$0 $0 $0
DEENEN KEEGAN MEMBER 1.00
Director
$0 $0 $0
KIM MCMILLAN MEMBER 1.00
Director
$0 $0 $0
CAROLYN PHILLIPS MEMBER 1.00
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
2024 $760,546 $758,450 $89,674 $2,096
2023 $753,353 $778,518 $87,578 $-25,165
2022 $768,088 $772,923 $112,743 $-4,835
2021 $819,575 $832,832 $117,578 $-13,257
2020 $802,104 $796,625 $130,835 $5,479
2019 $828,210 $820,948 $125,356 $7,262
2018 $844,600 $830,408 $118,094 $14,192
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