Midlands Arts Conservatory FY2021 filing

Columbia, SCUnknown exempt organization EIN 81-2516984Revenue $1.6M in FY2021

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.

90¢ of each $1 spent went to programs.
$82K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$82K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
1 mo
of spending, in cash
Fine: 1.2 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
$126K
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+14% vs prior year
Spent
$1.6M
To programs
90%
Net assets
$157K
By yearFY2020–FY2024
Revenue
$1.6M
FY2021▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$1.6M
FY2022$2.2M
FY2024$2K
Expenses
$1.6M
FY2021▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3M
FY2021$1.6M
FY2022$2.1M
FY2024$71K
Net assets
$157K
FY2021▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2020$136K
FY2021$157K
FY2022$290K
FY2024$0

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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

90 cents of each dollar spent went to programs.

Program services 90% · $1.5M Management & general 10% · $161K

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

12 people listed on the 990; $82K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$81,674Pt 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
$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 · $1.5M · in their own filed words · FY2020
01

"midlands arts conservatory (mac) is a free, public charter school located in downtown columbia, south carolina. Mac opened its door in august of 2018 to sixth and seventh grade students and will be adding a grade every year until the first senior class graduates in the spring of 2024.THE school is a part of the south carolina public…

$1.5Mprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$7K
Money outPt IX
$1.6M
Ln 25
Programscol B$1.5M
Managementcol C$161K
Owns and owesPt X
$157K
net assets · Ln 32
Cash and savingsLn 1–2$162K
Total assetsLn 16$284K
LiabilitiesLn 26$126K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Government grantsLn 1e$1.6M
Fees for servicesLn 2g$7K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$162K
Cash and savings togetherLn 1–2$162K
Land, buildings, equipmentLn 10c$49K
Other assetsLn 15$47K
Total assetsLn 16$284K
LiabilitiesLn 26$126K
Net assetsLn 32$157K
OperationsPt I, VI
EmployeesI 532
VolunteersI 650
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$268K$162K
Land, buildings, equipmentLn 10c$62K$49K
Total assetsLn 16$387K$284K
LiabilitiesLn 26$252K$126K
Net assetsLn 32$136K$157K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$926K$905K$22K
Other employee benefitsLn 9$85K$83K$2K
Payroll taxesLn 10$75K$73K$2K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$9K$9K
Advertising and promotionLn 12$9K$9K
OccupancyLn 16$107K$86K$21K
InterestLn 20$3K$3K$650
Depreciation, depletion and amortizationLn 22$13K$10K$3K
InsuranceLn 23$15K$13K$1K
Other expenses (24a–d)Ln 24$300K$252K$48K
All other expensesLn 24e$73K$39K$34K
Total functional expensesLn 25$1.6M$1.5M$161K$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 Viewing $1.6M$1.6M$22K$157K 990 PDF
FY2020 $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 FY2021 990 (6 parts)
Part I · Summary $1,647,722 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,440,193$1,640,914
I-9 Program service revenuePrior year $3,295$6,808
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $3,487$0
I-12 Total revenuePrior year $1,446,975$1,647,722
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 $703,676$1,086,661
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $567,450$539,468
I-18 Total expensesPrior year $1,271,126$1,626,129
I-19 Revenue less expensesPrior year $175,849$21,593
Part VI · Governance 11 of 11 board members independent, 3 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $1,647,722 across 5 lines filed
VIII-1e Government grants$1,625,417
VIII-1f All other contributions, gifts and grants$15,497
VIII-1h Total contributions, gifts and grants$1,640,914
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,808$6,808
VIII-12 Total revenueRelated to mission $6,808 · Unrelated business $0 · Excluded from tax $0$1,647,722
Part IX · Statement of functional expenses $1,626,129 across 12 lines filed
IX-7 Other salaries and wagesPrograms $904,848 · Management $21,528$926,376
IX-9 Other employee benefitsPrograms $82,961 · Management $2,218$85,179
IX-10 Payroll taxesPrograms $73,323 · Management $1,783$75,106
IX-11b Legal feesManagement $9,819$9,819
IX-11c Accounting feesManagement $8,960$8,960
IX-12 Advertising and promotionManagement $9,352$9,352
IX-16 OccupancyPrograms $85,916 · Management $21,479$107,395
IX-20 InterestPrograms $2,599 · Management $650$3,249
IX-22 Depreciation, depletion and amortizationPrograms $10,186 · Management $2,547$12,733
IX-23 InsurancePrograms $13,256 · Management $1,279$14,535
IX-24 Other expenses (24a–d)Programs $252,350 · Management $47,981$300,331
IX-24e All other expensesPrograms $39,419 · Management $33,675$73,094
IX-25 Total functional expensesPrograms $1,464,858 · Management $161,271 · Fundraising $0$1,626,129
Part X · Balance sheet $283,619 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $268,461$161,762
X-4 Accounts receivableStart of year $162$1,471
X-9 Prepaid expenses and deferred chargesStart of year $15,658$24,807
X-10c Land, buildings and equipment, netStart of year $61,676$48,943
X-15 Other assetsStart of year $41,511$46,636
X-16 Total assetsStart of year $387,468$283,619
X-17 Accounts payable and accrued expensesStart of year $51,279$98,828
X-19 Deferred revenueStart of year $288$2,022
X-24 Unsecured notes and loans payableStart of year $48,801$25,347
X-25 Other liabilitiesStart of year $151,271$0
X-26 Total liabilitiesStart of year $251,639$126,197
X-32 Total net assets or fund balancesStart of year $135,829$157,422
X-33 Total liabilities and net assetsStart of year $387,468$283,619
Part XI · Reconciliation of net assets $157,422 net assets at year end
XI-1 Total revenue$1,647,722
XI-2 Total expenses$1,626,129
XI-3 Revenue less expenses$21,593
XI-4 Net assets at start of year$135,829
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$157,422

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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