Nonprofit · EIN 56-1287429
VISUAL ARTS EXCHANGE
Tax-exempt · RALEIGH, NC 27603
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $273,047 | $250,228 | $22,819 | $129,330 | $14,348 | $114,982 |
| June 30, 2024 | 990 | $243,877 | $462,577 | -$218,700 | $354,616 | $262,450 | $92,166 |
| June 30, 2023 | 990 | $490,255 | $395,441 | $94,814 | $627,734 | $316,868 | $310,866 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $232,887
- of which government grants
- $64,202
- Program service revenue
- $40,137
- Investment income
- $23
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $103,164
- Salaries, compensation and benefits (total)
- $103,164
- Professional fundraising fees
- $0
- Occupancy
- $38,173
- Depreciation
- $1,929
- Program services (functional)
- $203,981
- Management and general (functional)
- $20,870
- Fundraising (functional)
- $25,377
Balance sheet and other
- Total assets, start of year
- $354,616
- Total assets, end of year
- $129,330
- Total liabilities, end of year
- $14,348
- Net assets, end of year
- $114,982
- Land, buildings and equipment
- $4,045
- Net assets without donor restrictions
- -$9,868
- Net assets with donor restrictions
- $124,850
- Gross receipts
- $273,047
- Employees
- 2
- Year formed
- 1980
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LaTissa Davis | Director Trustee or director | 1 | $0 |
| Gabie Frantz | Director Trustee or director | 1 | $0 |
| Pete Harvey | Treasurer Trustee or director, Officer | 1 | $0 |
| Christina Hloros | Chair Trustee or director, Officer | 1 | $0 |
| Crystal Ricevuto | Co-Chair Trustee or director, Officer | 1 | $0 |
| Kulsum Tasnif | Director Trustee or director | 1 | $0 |
| Lamar Whidbee | Director Trustee or director | 1 | $0 |
| Emily Blust | Director Trustee or director | 1 | $0 |
| Daniel Culbertson | Director Trustee or director | 1 | $0 |
| Jean Grey | Co-Director Trustee or director, Officer | 1 | $0 |
| Pete Sack | Co-Director Trustee or director, Officer | 1 | $0 |
990 for the year ended June 30, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Pete Harvey | Treasurer Trustee or director, Officer | 1 | $0 |
| LaTissa Davis | Director Trustee or director | 1 | $0 |
| Gabie Frantz | Director Trustee or director | 1 | $0 |
| Christina Hloros | Director Trustee or director | 1 | $0 |
| Okirah Harris | Director Trustee or director | 1 | $0 |
| Crystal Ricevuto | Director Trustee or director | 1 | $0 |
| Kulsum Tasnif | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KAYLA COLEMAN | EXECUTIVE DIRECTOR Officer | 40 | $65,795 |
| BRANDON CORDREY | EXECUTIVE DIRECTOR Officer | 40 | $4,231 |
| SOPHIE MCMILLIAN | CHAIR Trustee or director, Officer | 2 | $0 |
| LIANI YIRKA | SECRETARY Trustee or director, Officer | 2 | $0 |
| PETE HARVEY | TREASURER Trustee or director, Officer | 1 | $0 |
| KINARD BARNETT | DIRECTOR Trustee or director | 1 | $0 |
| KRISTY GARCIA BRENEMAN | DIRECTOR Trustee or director | 1 | $0 |
| LATISSA DAVIS | DIRECTOR Trustee or director | 1 | $0 |
| ILINA EWEN | DIRECTOR Trustee or director | 1 | $0 |
| GABIE FRANTZ | DIRECTOR Trustee or director | 1 | $0 |
| SARAH KORDULEWSKI | DIRECTOR Trustee or director | 1 | $0 |
| SALLY PLYLER | DIRECTOR Trustee or director | 1 | $0 |
| ERICA PORTER | DIRECTOR Trustee or director | 1 | $0 |
| KULSUM TASNIF | DIRECTOR Trustee or director | 1 | $0 |
| CECILIA ZUVIC | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 909 W MORGAN ST, RALEIGH, NC 27603-1511
- In care of
- % JEAN GRAY MOHS
- Principal officer (990 for 2024)
- Pete Sack, 228 Fayetteville Street, Raleigh, NC 27601
- Signed the 990
- Pete Sack, CoDirector
- Phone
- (919) 389-4948
- Website
- WWW.VAERALEIGH.ORG
- Return prepared by
- Rebekah Barr CPA PC
Mission
VAE produces, funds, and exhibits socially-engaged art through community collaboration.
Program accomplishments
- VAE provides direct support to artists chiefly through its largest funding initiative The Snapdragon Fund, a regional regranting program made possible through funding from The Andy Warhol Foundation for the Visual Arts. The fund provides 60,000 of funding for individual artists each year. This funding is split across 3 categories 8 project grants of 5,000 5 research grants of 2,000 and 20 micro grants of 500. VAEs fiscal sponsorship program allows the Organization to support individual artists and unincorporated artists groups through the provision of grant and donation-based fundraising opportunites under the Organizations nonprofit umbrella, as well as assitance in the management of their finances. The Orrganization is responsible for collecting funds restricted to the project and disbursing them in accordance with the projects approved guidelines.Expenses $106,070
- VAE organizes the bulk of its programming into large-scale projects that include exhibitions and community events. These projects focus on highlighting the creative contributions of people who are often marginalized from the contemporary art world and building trust with new communities. VAE produces between 6 and 20 exhibitions each year, displaying works from a growing array of contemporary artists. In addition to the Organizations main galleries in their flagship location, the Organization also hosts exhibitions in a collection of community exhibition spaces across the greater Triangle.Expenses $97,911 · revenue $40,137
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 56-1287429
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1981
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A510)
- Assets (IRS master file)
- $129,330
- Income (IRS master file)
- $273,047
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $273,047 | $250,228 | $129,330 | XML |
| 990 | June 2024 | $243,877 | $462,577 | $354,616 | XML |
| 990 | June 2023 | $490,255 | $395,441 | $627,734 | XML |
| 990 | June 2022 | $303,641 | $448,805 | $240,777 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1287429).
Questions about VISUAL ARTS EXCHANGE
- What is the EIN of VISUAL ARTS EXCHANGE?
- The employer identification number (EIN) of VISUAL ARTS EXCHANGE is 56-1287429.
- Is VISUAL ARTS EXCHANGE tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
- Are donations to VISUAL ARTS EXCHANGE tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VISUAL ARTS EXCHANGE file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VISUAL ARTS EXCHANGE due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VISUAL ARTS EXCHANGE last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of VISUAL ARTS EXCHANGE?
- The 990 for the year ended June 30, 2025 names Pete Sack.
- Who are the officers and directors of VISUAL ARTS EXCHANGE?
- The 990 for the year ended June 30, 2025 lists 11 people; 0 received compensation from the organization.
- How much revenue does VISUAL ARTS EXCHANGE have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $273,047, expenses of $250,228 and total assets of $129,330 at year end.
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