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.

2018-2019 Cash Revenues

chart 1

Individuals $240,910
Earned Income
$190,556
Grants $163,237
Corporations-Cash $115,719
Local Government-Cash
$99,972
Total Cash Revenues $810,393
   
Local Government $185,000
Corporations
$55,000
In-Kind Revenues
$240,000
Total Revenues
$1,050,393

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.

2018-2019 Cash Expenditures

Chart 2.1

Performances and Exhibitions $246,704
General Administration
$178,996
Arts in Education $125,563
Public Relations $103,077
Grants Program
$87,001
Fundraising
$72,336
Total Cash Expenditures
$813,678
In-Kind Expenses
$240,000
Total Expenditures
$1,053,678

IRS Form 990

For more complete financial information you may follow this link to review the Cabarrus Arts Council’s Form 990.

Strategic Plan

strategic plan

2018-2019 Highlights

  • Reached 335,097 participants through programs and grants
  • Assisted with the first Juneteenth Celebration in Cabarrus County
  • El Puente began translating our gallery activities and Facebook posts
  • Kicked off the first season of Family Shows in the Davis Theatre
  • Awarded Grassroots Grants to thirteen organizations
  • Presented 69 curriculum-related performances to 38,539 students from all schools in Cabarrus County
  • The Galleries featured 75 artists from many different cultures and backgrounds including Asian, Latin American, Native American, and African American
  • Exhibited work by 57 local artists in four Art Walks
  • Attracted more than 13,829 visitors to The Galleries and Davis Theatre
  • Art On Tap presented four events for young adults, netting 73 members and 1,230 participants
  • Family Days offered arts, crafts, dance and opera to 635 children and parents

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.

Corporate Sponsors

  • Atrium Health
  • DF
  • Corning
  • Duke Energy
  • Embassy Suites
  • 5 3 Bank
  • Hilton Garden Inn
  • Independent Tribune
  • Technologies Edge
  • TW
  • Wells Fargo