Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2000.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
55 cents of each dollar spent went to programs.
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
27 people listed on the 990; $85K paid to officers and key staff.
Karin Peterson’s $125K as Retiring Executive Director is at the 51st percentile of top reported officer pay among 3924 $1–10M 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.
Compensation history total reportable pay by year · 4 named individuals · Part VII
| Name | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|
| Osborn Teresa | — | — | — | $135,227 |
| Karin Peterson | $125,000 | $115,000 | $84,715 | — |
| William Love | $92,787 | — | — | — |
| Gihl Tracy | — | — | — | $87,208 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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 15aYes
Programs and updates
Inspires and empowers through visual art experiences that encourage seeing, thinking, and doing.
Questions for The Bascom Corporation
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Through engaging the artistic imagination, we build human capacity and resilience in the people of our region and infuse the creative economy of Western North Carolina with opportunities for community members, visitors, and artists alike.
The Bascom's Public Programs serve 3,000 participants of all ages living in Macon and Jackson counties. Activities include free art exhibitions and adjoining programming, artist residencies, in-class and out-of-school-time STEAM and art activities, professional development opportunities for local educators, workshops, camps, and sales…
2021 Achievements **Represented over 200 artists **Employed three resident artists (Winter Resident,Photography Resident,and Education Fellow) **Served 3,350 direct participants **Gave $13,940 in scholarships **Presented 10 free exhibitions
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $668 | $278K |
| InvestmentsLn 11–13 | $1.3M | $1.4M |
| Land, buildings, equipmentLn 10c | $8.9M | $9.5M |
| Total assetsLn 16 | $11.4M | $11.6M |
| LiabilitiesLn 26 | $104K | $183K |
| Net assetsLn 32 | $11.3M | $11.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $43K | $43K | ||
| Grants to domestic individualsLn 2 | $6K | $6K | ||
| Pay of current officers, directors and key staffLn 5 | $85K | $42K | $17K | $25K |
| Other salaries and wagesLn 7 | $426K | $188K | $148K | $89K |
| Other employee benefitsLn 9 | $18K | $8K | $5K | $4K |
| Payroll taxesLn 10 | $38K | $17K | $12K | $10K |
| Legal feesLn 11b | $3K | $0 | $3K | $0 |
| Accounting feesLn 11c | $24K | $0 | $24K | $0 |
| Professional fundraising feesLn 11e | $51K | $51K | ||
| Investment management feesLn 11f | $13K | $0 | $13K | $0 |
| Other fees for servicesLn 11g | $85K | $54K | $21K | $11K |
| Advertising and promotionLn 12 | $13K | $6K | $750 | $6K |
| Office expensesLn 13 | $98K | $59K | $39K | $339 |
| Information technologyLn 14 | $29K | $10K | $8K | $12K |
| OccupancyLn 16 | $275K | $118K | $98K | $59K |
| TravelLn 17 | $35K | $29K | $1K | $5K |
| Conferences, conventions and meetingsLn 19 | $9K | $450 | $9K | $0 |
| InterestLn 20 | $3K | $0 | $3K | $0 |
| Depreciation, depletion and amortizationLn 22 | $283K | $266K | $11K | $6K |
| InsuranceLn 23 | $39K | $17K | $12K | $10K |
| Other expenses (24a–d)Ln 24 | $9K | $1K | $5K | $2K |
| Total functional expensesLn 25 | $1.6M | $864K | $431K | $290K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $1.8M | $2.1M | −$249K | $11.8M | 990 PDF |
| FY2023 | $1.7M | $2.0M | −$349K | $11.9M | 990 PDF |
| FY2022 | $2.6M | $1.8M | $771K | $12.0M | 990 PDF |
| FY2021 Viewing | $1.6M | $1.6M | $3K | $11.4M | 990 PDF |
| FY2020 | $1.5M | $1.6M | −$158K | $11.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $1,588,338 revenue, 12 lines filed
Part VI · Governance 26 of 26 board members independent, 1 to look at
Part VIII · Statement of revenue $1,588,338 across 12 lines filed
Part IX · Statement of functional expenses $1,585,271 across 21 lines filed
Part X · Balance sheet $11,572,802 assets, 15 lines filed
Part XI · Reconciliation of net assets $11,390,085 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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