Beverley Street Studio School Incorporated FY2020 filing

Tax-deductible

Lovingston, VA501(c)(3)Arts & CultureEIN 54-1785021Revenue $62K in FY2020

On file with the IRSbssschool.orgPo Box 28, 22949-0028 · Lovingston, VATax-exempt since May 1996Publicly supported charity — 170(b)(1)(A)(vi)

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The mission is to provide the community a variety of opportunities to explore the world of visual art through practice, professional instruction and contact with practicing artists.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$21K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $11K a year · 13% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$21K
to officers and key staff · 26% of spending
Worth a look: pay to officers and key staff is 26% of spending; over 20%.
Pt VII · Sec A
Cash reserves
24 mo
of spending, in cash
Looks good: 23.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $44
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$62K
Spent
$82K
To programs
85%
Net assets
$187K
By yearFY2020–FY2024
Revenue
$62K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$62K
FY2021$120K
FY2022$99K
FY2023$76K
FY2024$75K
Expenses
$82K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$82K
FY2021$94K
FY2022$102K
FY2023$124K
FY2024Not on file
Net assets
$187K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$187K
FY2021$215K
FY2022$209K
FY2023$163K
FY2024$121K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $70K Management & general 9% · $7K Fundraising 6% · $5K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $21K paid to officers and key staff.

Part VII, Section A · reportable compensation
$21,000Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Jillian Sanders’s $21K as Director is at the 74th percentile of top reported officer pay among 250 <$100K arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

See Beverley Street Studio School Incorporated executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Offers art exploration through practice, instruction, and artist connections.

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Provided by the organization

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1 program · $70K · in their own filed words · FY2020
01

To fulfill its mission, the organization provides arts education and programing to the general public and its membership, provides a place for professional and amateur artists to practice, learn, exhibit, and expose our community to the world of visual arts. Since 1992, it had become an integral part of the local cultural community.

$70Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Total grants receivedfrom 1 funder$44

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$62K
Ln 12
Gifts and grantsLn 1h$39K
Fees for servicesLn 2g$35K
Investment incomeLn 3$1K
Money outPt IX
$82K
Ln 25
Programscol B$70K
Managementcol C$7K
Fundraisingcol D$5K
Owns and owesPt X
$187K
net assets · Ln 32
Cash and savingsLn 1–2$162K
Total assetsLn 16$189K
LiabilitiesLn 26$3K
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$39K
Government grantsLn 1e$26K
Fees for servicesLn 2g$35K
Investment incomeLn 3$1K
Total revenueLn 12$62K
Assets in detailPt X, end of year
CashLn 1$30K
SavingsLn 2$132K
Cash and savings togetherLn 1–2$162K
Land, buildings, equipmentLn 10c$3K
Other assetsLn 15$25K
Total assetsLn 16$189K
LiabilitiesLn 26$3K
Net assetsLn 32$187K
OperationsPt I, VI
EmployeesI 52
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$183K$162K
Land, buildings, equipmentLn 10c$3K$3K
Total assetsLn 16$210K$189K
LiabilitiesLn 26$4K$3K
Net assetsLn 32$206K$187K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$106$106
Pay of current officers, directors and key staffLn 5$21K$17K$2K$2K
Other salaries and wagesLn 7$5K$4K$542$542
Payroll taxesLn 10$2K$2K$202$202
Accounting feesLn 11c$5K$2K$2K$484
Investment management feesLn 11f$70$70
Other fees for servicesLn 11g$1K$1K$109
Office expensesLn 13$3K$2K$215$255
Information technologyLn 14$2K$1K$169$169
OccupancyLn 16$14K$11K$1K$675
Depreciation, depletion and amortizationLn 22$524$524
InsuranceLn 23$2K$2K$237$118
Other expenses (24a–d)Ln 24$27K$26K$510
All other expensesLn 24e$6$6
Total functional expensesLn 25$82K$70K$7K$5K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $75K$121K 990 PDF
FY2023 $76K$124K−$48K$163K 990 PDF
FY2022 $99K$102K−$3K$209K 990 PDF
FY2021 $120K$94K$25K$215K 990 PDF
FY2020 Viewing $62K$82K−$20K$187K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $61,955 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $15,027$39,438
I-9 Program service revenuePrior year $86,565$35,013
I-10 Investment incomePrior year $2,669$1,137
I-11 Other revenuePrior year $32,771−$13,633
I-12 Total revenuePrior year $137,032$61,955
I-13 Grants and similar amounts paidPrior year $105$106
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $46,536$28,439
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $87,740$53,577
I-18 Total expensesPrior year $134,381$82,122
I-19 Revenue less expensesPrior year $2,651−$20,167
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $61,955 across 8 lines filed
VIII-1e Government grants$26,239
VIII-1f All other contributions, gifts and grants$13,199
VIII-1h Total contributions, gifts and grants$39,438
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $35,013$35,013
VIII-3 Investment incomeRelated to mission $1,137$1,137
VIII-8 Net income from fundraising events−$13,635
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2$2
VIII-12 Total revenueRelated to mission $36,152$61,955
Part IX · Statement of functional expenses $82,122 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $106$106
IX-5 Pay of current officers, directors and key staffPrograms $16,800 · Management $2,100 · Fundraising $2,100$21,000
IX-7 Other salaries and wagesPrograms $4,334 · Management $542 · Fundraising $542$5,418
IX-10 Payroll taxesPrograms $1,617 · Management $202 · Fundraising $202$2,021
IX-11c Accounting feesPrograms $2,420 · Management $1,936 · Fundraising $484$4,840
IX-11f Investment management feesManagement $70$70
IX-11g Other fees for servicesPrograms $1,022 · Fundraising $109$1,131
IX-13 Office expensesPrograms $2,077 · Management $215 · Fundraising $255$2,547
IX-14 Information technologyPrograms $1,354 · Management $169 · Fundraising $169$1,692
IX-16 OccupancyPrograms $11,480 · Management $1,351 · Fundraising $675$13,506
IX-22 Depreciation, depletion and amortizationPrograms $524$524
IX-23 InsurancePrograms $2,013 · Management $237 · Fundraising $118$2,368
IX-24 Other expenses (24a–d)Programs $26,383 · Management $510$26,893
IX-24e All other expensesPrograms $6$6
IX-25 Total functional expensesPrograms $70,136 · Management $7,332 · Fundraising $4,654$82,122
Part X · Balance sheet $189,411 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $31,989$30,353
X-2 Savings and temporary cash investmentsStart of year $151,037$131,575
X-10c Land, buildings and equipment, netStart of year $3,495$2,971
X-15 Other assetsStart of year $23,010$24,512
X-16 Total assetsStart of year $209,531$189,411
X-17 Accounts payable and accrued expensesStart of year $1,325$268
X-25 Other liabilitiesStart of year $2,584$2,584
X-26 Total liabilitiesStart of year $3,909$2,852
X-27 Net assets without donor restrictionsStart of year $205,622$186,559
X-32 Total net assets or fund balancesStart of year $205,622$186,559
X-33 Total liabilities and net assetsStart of year $209,531$189,411
Part XI · Reconciliation of net assets $186,559 net assets at year end
XI-1 Total revenue$61,955
XI-2 Total expenses$82,122
XI-3 Revenue less expenses−$20,167
XI-4 Net assets at start of year$205,622
XI-5 Net unrealized gains (losses) on investments$1,104
XI-10 Net assets at end of year$186,559

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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