Finances
The Cabarrus Arts Council is a 501(c)(3) non-profit corporation. The financial reports are reviewed monthly by the council’s executive committee and the board of directors and audited annually by C. DeWitt Foard and Company, PA.
Funding
The Cabarrus Arts Council’s funding comes from donations, grants and earned income. The President and CEO and Board of Directors plan a careful balance of income sources.
2016-2017 Cash Revenues
| Individuals | $255,712 |
| Earned Income |
$188,561
|
| Local Government In-Kind | $185,000 |
| Grants | $138,157 |
| Local Government-Cash |
$99,602
|
| Corporations-Cash | $96,708 |
| Corporations-In-Kind |
$55,250
|
| Cash Revenues |
$778,348
|
| In-Kind Revenues |
$240,250
|
| Total Revenues |
$1,018,990
|
Use of Funds
The Cabarrus Arts Council makes every dollar count. 80% of its budget is spent on Programs, and 20% is spent on General Administration.
2016-2017 Cash Expenditures
| Performances and Exhibitions | $224,563 |
| General Administration |
$133,350
|
| Arts in Education | $125,118 |
| Public Relations | $99,192 |
| Grants Program |
$93,509
|
| Fundraising |
$81,431
|
| Total Cash Expenditures |
$757,163
|
| In-Kind Expenses |
$240,000
|
| Total Expenditures |
$997,163
|
IRS Form 990
For more complete financial information you may follow this link to review the Cabarrus Arts Council’s Form 990.
2016-2017 Highlights
- Reached 338,228 participants through programs and grants
- Presented 63 curriculum-related performances to 31,897 students from all schools in Cabarrus County
- Exhibited work by 621 artists in four Art Walks
- Attracted more than 17,655 visitors to The Galleries and Davis Theatre
- Art on Tap presented four events for young adults, netting 91 members and 239 participants
- For the first time matinees were added to the original Davis Theatre line-up
- Kathy Mattea and The Drifters headlined On Stage at the Davis to packed audiences
- Family Days offered arts, crafts, dance, and opera for young families
- The Galleries featured 87 artists from many different cultures and backgrounds including Asian, Latin American, Greek, and African American
- The Galleries Shop expanded its inventory for handcrafted gifts and jewelry
- Held second annual Dancing for the Arts competition
- Coordinated Americans for the Arts Economic Impact Study in Cabarrus County, part of the Arts and Economic Impact Study in Cabarrus County for the USA.
Code of Ethics
The Cabarrus Arts Council and its President and CEO, Noelle Rhodes Scott, are members of the Association of Fundraising Professionals and abide by the AFP’s fundraising code of ethics.
