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    Stewardship

    Stewardship

    In pursuing SculptureCenter's mission, we are aware of the public trust inherent in being a tax-exempt organization dependent upon contributions from the public. Accordingly, we make every effort to operate effectively, efficiently, and ethically. In this section we provide accountability information about SculptureCenter programs. The information is divided into three categories: Financial Data, Non-Financial Data, and Safeguards.

    The following information is taken from the audited Financial Statements as of, and for the fiscal year ended, June 30, 2020.

    Revenue
    In fiscal year 2020, SculptureCenter had total revenue of $1.69 million. Revenues were obtained from the following sources:



    Expenses
    Total fiscal year 2020 expenses were $1.86 million and were distributed as follows:



    Program expenses include curatorial and exhibition costs. Fundraising costs were higher than normal as a result of increased fundraising efforts due to the Covid-19 pandemic.

    SculptureCenter attempts to operate on a break-even basis, that is, to expend only revenue raised. For fiscal year 2020, expenses exceeded revenue by 10% of total revenue. Expenses include depreciation, which is a non-cash expense. Excluding depreciation, revenue exceeded expenses by 1.3%.


    Assets
    Financial resources of SculptureCenter totaled $6.13 million on June 30, 2020 and were distributed as follows:



    Liabilities and net assets
    SculptureCenter’s liabilities and net assets as of June 30, 2020 were distributed as follows:

    Although financial data are important, they do not tell the whole story. Here we present selected non-financial indicators of program effectiveness for fiscal year 2020.

    Exhibitions mounted: 4
    Artists presented: 31
    Artworks commissioned: 48
    Square footage of exhibition space: 7,500 square feet
    Full time staff members: 10
    Interns and volunteers: 0
    Website traffic (unique visitors): 71,809

    SculptureCenter maintains policies and safeguards intended to assure that its mission is accomplished in an ethical and legal manner and that it continues to merit the public trust inherent in its tax-exempt status. Some of the principal safeguards are as follows:

    SculptureCenter is governed by a Board of Trustees, all but one of whom are independent of the organization. No Trustees receive compensation or do business with SculptureCenter except to purchase goods and services from SculptureCenter on no better terms than available to non-Trustees.

    SculptureCenter's annual financial statements are audited by Lutz and Carr, independent CPAs. (Copy available upon request.) Although the principal purpose of the audit is to provide reasonable assurance that the financial statements are free of material misstatements, the audit also addresses financial and reporting risks and internal control risks, and each year the auditor submits recommendations for improvement, which are implemented whenever feasible. The audit process is actively overseen by the Audit Committee of the Board of Trustees.

    Because SculptureCenter is exempt from income taxes under section 501(c)(3) of the Internal Revenue Code, it has obligations to continuously meet the rigorous standards for tax exemption. It demonstrates this annually through the filing of Internal Revenue Service Form 990, "Return of Organization Exempt From Income Tax." This Form discloses many facts about our mission, programs, financial results and position, compensation, and stewardship. Much of the information in the Form 990 is summarized on this website; moreover, the Form is a public document, available online from GuideStar or by request from SculptureCenter.

    Curatorial decisions are made by the Curator or Guest Curators. The Board of Trustees has no role in the curatorial process of the organization. The Board periodically reviews the program schedule to ensure the programs are fulfilling the mission.