EIN 56-1287429

Visual Art Exchange

IRS 501(c) type
501(c)(3)
Num. employees
6
Year formed
1980
Most recent tax filings
2023-06-01
Description
To foster the advancement of and provide opportunities for all Visual artists, particularly emerging, and to increase community awareness, appreciation, and support of north carolina artists.
Total revenues
$490,255
2023
Total expenses
$395,441
2023
Total assets
$627,734
2023
Num. employees
6
2023

Program areas at Visual Art Exchange

Funding and fiscal sponsorshipvae 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.vae's fiscal sponsorship program allows the organization to support individual artists and unincorporated artist groups through the provision of grant and donation-based fundraising opportunities under the organization's nonprofit umbrella, as well as assistance in the management of their finances. The organization is responsible for collecting funds restricted to the project and disbursing them in accordance with the project's approved guidelines.
Projects and exhibitionsvae 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 organization's main galleries in their flagship location, the organization also hosts exhibitions in a collection of community exhibition spaces across the greater triangle.

Who funds Visual Art Exchange

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Andy Warhol Foundation for the Visual ArtsWarhol Re-Granting Initiative$100,000
United Arts Council of Raleigh and Wake CountyArts for Municipalit$33,000
The Mary Duke Biddle Foundation Missionpost PMB #101Pop Box Gallery$5,000
...and 2 more grants received

Personnel at Visual Art Exchange

NameTitleCompensation
Brandon CordreyExecutive Director$4,231
Michael ThelenBoard Member$0
Ava ProcknowDirector
Liani YirkaSecretary$0
Sophie McMillianChair$0
...and 10 more key personnel

Financials for Visual Art Exchange

RevenuesFYE 06/2023
Total grants, contributions, etc.$521,618
Program services$14,350
Investment income and dividends$395
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$-46,108
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$490,255

Form 990s for Visual Art Exchange

Fiscal year endingDate received by IRSFormPDF link
2023-062024-02-14990View PDF
2022-062023-02-06990View PDF
2021-062021-11-12990View PDF
2020-062021-04-01990View PDF
2019-062020-01-28990View PDF
...and 10 more Form 990s

Organizations like Visual Art Exchange

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InliquidcomPhiladelphia, PA$966,550
Kentler International Drawing SpaceBrooklyn, NY$135,748
Local ColorSan Jose, CA$653,348
Photo Center NWSeattle, WA$1,489,301
Art Share Los AngelesLos Angeles, CA$766,285
Craftnow PhiladelphiaPhiladelphia, PA$285,055
Atlanta Celebrates PhotographyAtlanta, GA$251,201
ArtSpanSan Francisco, CA$478,041
Southwestern Association for Indian Arts (SWAIA)Santa Fe, NM$1,480,066
Northwind ArtsPort Townsend, WA$816,468
Data update history
June 5, 2024
Posted financials
Added Form 990 for fiscal year 2023
May 22, 2024
Updated personnel
Identified 1 new personnel
May 18, 2024
Received grants
Identified 1 new grant, including a grant for $100,000 from Andy Warhol Foundation for the Visual Arts
December 26, 2023
Received grants
Identified 6 new grant, including a grant for $100,000 from Andy Warhol Foundation for the Visual Arts
July 1, 2023
Posted financials
Added Form 990 for fiscal year 2021
Nonprofit Types
Arts, culture, and humanities nonprofitsCharities
Issues
Arts, cultural, and humanities
Characteristics
Fundraising eventsState / local levelReceives government fundingCommunity engagement / volunteeringGala fundraisersAuction fundraisersTax deductible donationsFiscal sponsorAccepts online donations
General information
Address
228 Fayetteville St
Raleigh, NC 27601
Metro area
Raleigh-Cary, NC
County
Wake County, NC
Website URL
vaeraleigh.org/ 
Phone
(919) 828-7834
IRS details
EIN
56-1287429
Fiscal year end
June
Taxreturn type
Form 990
Year formed
1980
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
A40: Visual Art Organizations, Services
NAICS code, primary
7113: Promoters of Performing Arts, Sports, and Similar Events
Parent/child status
Independent
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