The Bascom Corporation

EIN: 562093546 501(c)(3) Arts, Culture & Humanities

Highlands, NC

Total Revenue
$1,694,062
Total Expenses
$2,043,079
Total Assets
$11,987,724
Net Assets
$11,925,847
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1998
Legal Domicile
NC
Principal Officer
William Love
Phone
8285264949
Tax Period
2023-01-01 to 2023-12-31

The Bascom Corporation, founded in 1998, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.7M in total revenue in fiscal year 2023. Revenue fell 34% from the prior year — a significant decline worth monitoring. Expenses of $2.0M exceeded revenue, resulting in a 21% operating deficit.

Mission

The Bascom creates visual art experiences that inspire and empower individuals and communities through seeing, thinking and doing.

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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 $1,416,708
Program Service Revenue $207,057
Investment Income $-58,618
Other Revenue $128,915
TOTAL REVENUE $1,694,062

Expense Breakdown

Grants Paid $51,060
Salaries & Benefits $743,126
Fundraising Expenses $318,669
Program Expenses $1,325,171
Other Expenses $1,173,416
TOTAL EXPENSES $2,043,079

Year-over-Year Comparison

2023 2022 Change
Revenue $1,694,062 $2,550,789 -0.3%
Expenses $2,043,079 $1,779,722 +0.1%
Net Income $-349,017 $771,067 -1.5%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
26
Independent Members
26
Employees
16
Volunteers
40

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
8
$220,872
Total Directors
26
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Karin Peterson Retiring Executive Director 40.00
Officer
$125,000 $812 $125,812
William Love Co-Executive Director 40.00
Officer
$92,787 $2,273 $95,060
Niki Kinkade Incoming Executive Director 0.00
Officer
$0 $0 $0
Ann Wrobleski Chair 8.00
Officer Director
$0 $0 $0
William Jump Treasurer 8.00
Officer Director
$0 $0 $0
Margaret Denny Vice-Chair 8.00
Officer Director
$0 $0 $0
Jo Hill Secretary 8.00
Officer Director
$0 $0 $0
Susan Tarver Asst Treasurer 8.00
Officer Director
$0 $0 $0
Andrew Adams Board Member 2.00
Director
$0 $0 $0
David Bock Board Member 2.00
Director
$0 $0 $0
Michael Crowe Board Member 2.00
Director
$0 $0 $0
Kathleen Hohlstein Board Member 2.00
Director
$0 $0 $0
Maudie Huff Board Member 2.00
Director
$0 $0 $0
Barbara Jamison Board Member 2.00
Director
$0 $0 $0
Mark Mahaffey Board Member 2.00
Director
$0 $0 $0
Myron Mall Board Member 2.00
Director
$0 $0 $0
Carol Misner Board Member 2.00
Director
$0 $0 $0
Kirk Moore Board Member 2.00
Director
$0 $0 $0
Charlene Palmisano Board Member 2.00
Director
$0 $0 $0
Nancy Race Board Member 2.00
Director
$0 $0 $0
Rebecca Rieder Board Member 2.00
Director
$0 $0 $0
C Marie Sharpe Board Member 2.00
Director
$0 $0 $0
Ansley Tolleson Board Member 2.00
Director
$0 $0 $0
Marcia Weber Board Member 2.00
Director
$0 $0 $0
Hilary Wilkes Board Member 2.00
Director
$0 $0 $0
Nancy Dyleski Board Member 2.00
Director
$0 $0 $0
Bob Gross Board Member 2.00
Director
$0 $0 $0
Beverly Seinsheimer Board Member 2.00
Director
$0 $0 $0
Mary Thompson Board Member 2.00
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 No data No data No data No data
2023 $1,694,062 $2,043,079 $11,987,724 $-349,017
2022 $2,550,789 $1,779,722 $12,126,456 $771,067
2021 $1,588,338 $1,585,271 $11,572,802 $3,067
2020 $1,469,105 $1,626,758 $11,380,323 $-157,653
2019 $2,417,432 $1,885,974 $11,661,712 $531,458
2018 $2,946,063 $1,955,319 $12,443,974 $990,744
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