THE CENTER FOR ARTS & INNOVATION INC

EIN: 832727388 501(c)(3) Arts, Culture & Humanities

BOCA RATON, FL

Total Revenue
$6,602,246
Total Expenses
$1,245,425
Total Assets
$16,091,270
Net Assets
$11,581,692
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
FL
Principal Officer
ANDREA VIRGIN
Phone
5618592117
Tax Period
2023-01-01 to 2023-12-31

THE CENTER FOR ARTS & INNOVATION INC, founded in 2018, is a community nonprofit in the Arts, Culture & Humanities sector that reported $6.6M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. The organization ran a surplus of $5.4M, a strong 81% operating margin.

Mission

TO BUILD AND OPERATE AN INNOVATIVE, VITAL, AND FLEXIBLE CULTURAL CAMPUS THAT TRANSCENDS FUNCTION TO ENABLE CREATIVITY WITH NO BOUNDARIES.

Program Service Accomplishments

Program 1
Expenses: $304,759 Revenue: $2,043

TO BUILD AND OPERATE AN INNOVATIVE, VITAL, AND FLEXIBLE CULTURAL CAMPUS THAT TRANSCENDS FUNCTION TO ENABLE CREATIVITY WITH NO BOUNDARIES.

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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 $6,140,575
Program Service Revenue $0
Investment Income $459,628
Other Revenue $2,043
TOTAL REVENUE $6,602,246

Expense Breakdown

Grants Paid $0
Salaries & Benefits $406,798
Fundraising Expenses $274,077
Program Expenses $304,759
Other Expenses $838,627
TOTAL EXPENSES $1,245,425

Year-over-Year Comparison

2023 2022 Change
Revenue $6,602,246 $6,045,767 +0.1%
Expenses $1,245,425 $1,040,395 +0.2%
Net Income $5,356,821 $5,005,372 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
13
Independent Members
12
Employees
3
Volunteers
17

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
$225,000
Total Directors
13
$225,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ANDREA VIRGIN CEO & BOARD CHAIR 50.00
Officer Director
$225,000 $0 $225,000
PATRICIA KILGALLON TREASURER 15.00
Officer Director
$0 $0 $0
MATTHEW CIMAGLIA DIRECTOR 5.00
Director
$0 $0 $0
ELIZABETH DUDLEY DIRECTOR 5.00
Director
$0 $0 $0
STEVEN GIACONA TREASURER 15.00
Officer Director
$0 $0 $0
DAN GUIN DIRECTOR 5.00
Director
$0 $0 $0
ROBERT FRIEZO DIRECTOR 5.00
Director
$0 $0 $0
PEG ANDERSON DIRECTOR 15.00
Director
$0 $0 $0
ROGER STEIN DIRECTOR 5.00
Director
$0 $0 $0
ERICA KASEL DIRECTOR 5.00
Director
$0 $0 $0
MIKE KAUFMAN DIRECTOR 5.00
Director
$0 $0 $0
CAMILO MIGUEL DIRECTOR 5.00
Director
$0 $0 $0
IAN WEINER DIRECTOR 5.00
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 $6,602,246 $1,245,425 $16,091,270 $5,356,821
2022 $6,045,767 $1,040,395 $6,419,239 $5,005,372
2021 $1,859,773 $517,861 $6,531,467 $1,341,912
2020 $393,174 $440,407 $183,396 $-47,233
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