Midlands Arts Conservatory FY2020 filing

Columbia, SCUnknown exempt organization EIN 81-2516984Revenue $1.4M in FY2020

On file with the IRSmidlandsartsconservatory.org3806 Main Street · Columbia, SC

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The Midlands Arts Conservatory prepares students for Arts-related careers, a lifelong appreciation of the Arts, and for high quality postsecondary studies. The school provides an Arts-enriched personalized learning environment, integrating academic rigor and quality Arts instruction for all students.

82¢ of each $1 spent went to programs.
$43K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
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
3 of 4
filings with a surplus
Average surplus $65K a year · 5% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$43K
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $154
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$252K
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
Spent
$1.3M
To programs
82%
Net assets
$136K
By yearFY2020–FY2024
Revenue
$1.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.6M
FY2022$2.2M
FY2024$2K
Expenses
$1.3M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.6M
FY2022$2.1M
FY2024$71K
Net assets
$136K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$136K
FY2021$157K
FY2022$290K
FY2024$0

From the FY2020 Form 990 (year ending June 2020) · 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.0M Management & general 18% · $231K

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

14 people listed on the 990; $43K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$42,677Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2022FY2021FY2020
Bradford S Tillman$85,696$81,674—
Shannon K Hickey——$42,677

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 15aNo

Programs and updates

Prepares students for arts careers and college with an enriched learning environment.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2019
01

To prepare students for academic and personal success in an environment that promotes intellectual curiosity, cultural literacy, and a deep appreciation for the arts.

$1.0Mprogram 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$154

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.4M
Other incomeLn 4–11$3K
Fees for servicesLn 2g$3K
Money outPt IX
$1.3M
Ln 25
Programscol B$1.0M
Managementcol C$231K
Owns and owesPt X
$136K
net assets · Ln 32
Cash and savingsLn 1–2$268K
Total assetsLn 16$387K
LiabilitiesLn 26$252K
PeoplePt VI, VII
14
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$1.4M
Fees for servicesLn 2g$3K
Other incomeLn 4–11$3K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$268K
Cash and savings togetherLn 1–2$268K
Land, buildings, equipmentLn 10c$62K
Other assetsLn 15$42K
Total assetsLn 16$387K
LiabilitiesLn 26$252K
Net assetsLn 32$136K
OperationsPt I, VI
EmployeesI 532
VolunteersI 650
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
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$97K$268K
Land, buildings, equipmentLn 10c$42K$62K
Total assetsLn 16$252K$387K
LiabilitiesLn 26$292K$252K
Net assetsLn 32−$40K$136K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$614K$584K$29K
Other employee benefitsLn 9$39K$36K$3K
Payroll taxesLn 10$51K$49K$3K
Legal feesLn 11b$35K$35K
Accounting feesLn 11c$15K$15K
Advertising and promotionLn 12$9K$9K
OccupancyLn 16$223K$178K$45K
TravelLn 17$849$679$170
InterestLn 20$5K$4K$981
Depreciation, depletion and amortizationLn 22$12K$10K$2K
InsuranceLn 23$15K$5K$10K
Other expenses (24a–d)Ln 24$202K$131K$71K
All other expensesLn 24e$51K$43K$8K
Total functional expensesLn 25$1.3M$1.0M$231K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2K$71K−$69K$0 990 PDF
FY2023 Not on file
FY2022 $2.2M$2.1M$133K$290K 990 PDF
FY2021 $1.6M$1.6M$22K$157K 990 PDF
FY2020 Viewing $1.4M$1.3M$176K$136K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,446,975 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,078,707$1,440,193
I-9 Program service revenuePrior year $13,751$3,295
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$3,487
I-12 Total revenuePrior year $1,092,458$1,446,975
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $429,745$703,676
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $668,813$567,450
I-18 Total expensesPrior year $1,098,558$1,271,126
I-19 Revenue less expensesPrior year −$6,100$175,849
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $1,446,975 across 6 lines filed
VIII-1e Government grants$1,402,301
VIII-1f All other contributions, gifts and grants$37,892
VIII-1h Total contributions, gifts and grants$1,440,193
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,295$3,295
VIII-8 Net income from fundraising eventsExcluded from tax $3,487$3,487
VIII-12 Total revenueRelated to mission $3,295 · Unrelated business $0 · Excluded from tax $3,487$1,446,975
Part IX · Statement of functional expenses $1,271,126 across 13 lines filed
IX-7 Other salaries and wagesPrograms $584,194 · Management $29,383$613,577
IX-9 Other employee benefitsPrograms $35,955 · Management $3,031$38,986
IX-10 Payroll taxesPrograms $48,597 · Management $2,516$51,113
IX-11b Legal feesManagement $35,159$35,159
IX-11c Accounting feesManagement $14,600$14,600
IX-12 Advertising and promotionManagement $9,394$9,394
IX-16 OccupancyPrograms $178,143 · Management $44,536$222,679
IX-17 TravelPrograms $679 · Management $170$849
IX-20 InterestPrograms $3,923 · Management $981$4,904
IX-22 Depreciation, depletion and amortizationPrograms $9,790 · Management $2,447$12,237
IX-23 InsurancePrograms $4,972 · Management $10,271$15,243
IX-24 Other expenses (24a–d)Programs $130,904 · Management $70,868$201,772
IX-24e All other expensesPrograms $42,659 · Management $7,954$50,613
IX-25 Total functional expensesPrograms $1,039,816 · Management $231,310 · Fundraising $0$1,271,126
Part X · Balance sheet $387,468 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $96,521$268,461
X-4 Accounts receivable$162
X-9 Prepaid expenses and deferred chargesStart of year $956$15,658
X-10c Land, buildings and equipment, netStart of year $41,958$61,676
X-15 Other assetsStart of year $112,236$41,511
X-16 Total assetsStart of year $251,671$387,468
X-17 Accounts payable and accrued expensesStart of year $138,627$51,279
X-19 Deferred revenueStart of year $15,000$288
X-24 Unsecured notes and loans payableStart of year $70,350$48,801
X-25 Other liabilitiesStart of year $67,714$151,271
X-26 Total liabilitiesStart of year $291,691$251,639
X-32 Total net assets or fund balancesStart of year −$40,020$135,829
X-33 Total liabilities and net assetsStart of year $251,671$387,468
Part XI · Reconciliation of net assets $135,829 net assets at year end
XI-1 Total revenue$1,446,975
XI-2 Total expenses$1,271,126
XI-3 Revenue less expenses$175,849
XI-4 Net assets at start of year−$40,020
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$135,829

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

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