Volcano Art Center EIN 99-0162321 Form 990 (PDF) Claim this org

Volcano Art Center FY2021 filing

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Promotes Hawaii's art and culture through visual, literary, and performance activities. For fiscal year 2021 it reported $835K in revenue, $733K in expenses, and $1.7M in net assets.Pt I

Founded
1975
Type
Public charity (501(c)(3)) · Arts & Culture
Location
Volcano, HI
Website
www.volcanoartcenter.org
Filings
5 on file (2020–2021)
Revenue
$835KFY2021
Expenses
$733K
Net assets
$1.7M
People
15
Filings
5
Updates
0
More identity details & actions ⌄
EIN  99-0162321 Public charity (501(c)(3)) Volcano, HI Founded 1975
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Size
$1–10M
What they do
Promotes Hawaii's art and culture through visual, literary, and performance activities.
Leadership
Michael Nelson · Executive Di · $47K
Money in and out
$835K revenue, $733K expenses
Bottom line
81% program efficiency
Where the money goes · FY2021
Total revenue
$835K
Pt VIII · Ln 12
Total expenses
$733K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $102K
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.16 Fundraising $0.03
Program efficiency
81%
of spending reaches programs
Operating runway
6.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
+12%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$835K
FY2021▲ +47%
Expenses
$733K
FY2021▲ +7%
Total assets
$1.7M
FY2021▲ +4%
Total liabilities
$72K
FY2021▼ -37%
Total revenue
$835K
Pt VIII · Ln 12
Total expenses
$733K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$102K
Total assetsPt X · Ln 16$1.7M
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CVolcano Art Center
EINHdr · item D99-0162321
Principal addressHdr · item CVolcano, HI
WebsiteHdr · item Jwww.volcanoartcenter.org
Year of formationHdr · item L1975
State of legal domicileHdr · item MHI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A200)
Ruling yearIRS BMFMar 1984

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Di
$46,640Pt VII · Sec A
Vice Preside
$4,624Pt VII · Sec A
Director
$838Pt VII · Sec A
$283Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Michael Nelson’s $71K as Executive Di is at the 12th percentile of top reported officer pay among 3917 $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 · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michael Nelson$70,702$67,734$62,920$59,632$46,640$57,601
Jesse Tunison$5,541$6,475$2,000$4,624$4,513
Zach Mermel$1,480$300
Vicki Penney-Rohner$1,400$1,000
Ken Charon$838$600
Barbara Dunn$700
Julie Williams$325
William Hamilton$283$265

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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Mission & Programs · Part III

Where the work happens

2 program services account for $593K of program spending, described in the organization's own filed words · FY2020.
01

Volcano art gallery provides interpretive services for the historic 1877 volcano house building for visitors to hawaii volcanoes national park as a marketplace for arts by local artists.

$545Kprogram expense
02

Educational and cultural programs provided in the arts for the community and visitors to hawaii volcanoes national park.

$48Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$571K · 68%
Contributions & grants$257K · 31%
Other revenue$6K · 1%
Program service revenue68%$571K
Contributions & grants31%$257K
Other revenue1%$6K
Investment income$1K
— government grantsLn 1e$146K
Total revenueLn 12$835K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.16 Fundraising $0.03
Program services81%$593K
Management & general16%$119K
Fundraising3%$22K
Total functional expensesLn 25$733K

Balance Sheet

Part X · end of year
CashLn 1$371K
Total assetsLn 16$1.7M
Total liabilitiesLn 26$72K
Total net assetsLn 32$1.7M
Months of cash on handcomputed6.1

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $371K · Operating expenses (Pt IX) $733K · Less non-cash grants $500 · Cash operating expenses/yr $733K
6.1 months
Where the money goes
Program services
Program services $593K · Total expenses $733K
81%
Management & General
Management & general $119K · Total expenses $733K
16%
Fundraising
Fundraising $22K · Total expenses $733K
3%
Cost to raise $1
Fundraising expense (2-yr avg) $15K · Solicited contributions (2-yr avg) $104K
$0.14 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $257K · Total revenue $835K
31%
Government reliance
Government grants $146K · Total revenue $835K
18%
Earned-income share
Program service revenue $571K · Total revenue $835K
68%
Investment reliance
Investment income $1K · Total revenue $835K
+0.1%
Program self-sufficiency
Program service revenue $571K · Total expenses $733K
78%
Growth & trend
Revenue growth (YoY)
This year $835K · Prior year $570K
+47%
Net-asset trend (YoY)
End of year $1.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $835K · Expenses $733K
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $1.7M
Net-asset ratio
Net assets $1.7M · Total assets $1.7M
96%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.7M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Michael Nelson · Reported title EXECUTIVE DI · Highest reported compensation $47K · Total expenses $733K
6%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $379K · Total expenses $733K
52%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 16%
Fundraising cost ratio 8%
Revenue growth 47%
Legal fee ratio 0.05%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$2K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$1.1M revenue · ⤓ 990 PDF
FY2023$1.1M revenue · ⤓ 990 PDF
FY2022$1.0M revenue · ⤓ 990 PDF
FY2021$835K revenue · viewing · ⤓ 990 PDF
FY2020$570K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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