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Home My WebLink About02/18/2026 - Meeting Materials Salt Lake Arts Council Foundation Profit & Loss Budget vs. Actual July 2025 through January 2026 Jul'25-Jan 26 Budget $Over Budget Ordinary Income/Expense Income REVENUE CITY In-Kind SLC Dept DED Exp. 0.00 53,805.00 -53,805.00 In-Kind SLC Dept Salaries&Ben 0.00 1,306,787.01 -1,306,787.01 SLC Nondepartmental 1,025,000.00 1,025,000.00 0.00 Total CITY 1,025,000.00 2,385,592.01 -1,360,592.01 CONTRIBUTIONS Corporate 32,850.00 55,000.00 -22,150.00 Foundations 956,190.33 955,690.00 500.33 In-Kind 0.00 165,000.00 -165,000.00 Individuals 4,320.00 6,300.00 -1,980.00 Total CONTRIBUTIONS 993,360.33 1,181,990.00 -188,629.67 EARNED INCOME Beverage Sales Alcohol 0.00 29,000.00 -29,000.00 Total Beverage Sales 0.00 29,000.00 -29,000.00 Commissions 16,719.25 5,500.00 11,219.25 Merchandise Sales 120.00 Other Fees 15,149.25 8,600.00 6,549.25 Rental Fees 1,010.00 3,500.00 -2,490.00 Ticket Sales 30,000.00 30,000.00 0.00 Vendor Fees 0.00 14,000.00 -14,000.00 Total EARNED INCOME 62,998.50 90,600.00 -27,601.50 GOVERNMENT GRANTS County 71,768.00 200,000.00 -128,232.00 Federal 0.00 30,000.00 -30,000.00 State 46,500.00 46,500.00 0.00 Total GOVERNMENT GRANTS 118,268.00 276,500.00 -158,232.00 OTHER REVENUE Interest 23,235.84 30,000.00 -6,764.16 Miscellaneous Income 1,947.25 Total OTHER REVENUE 25,183.09 30,000.00 -4,816.91 Total REVENUE 2,224,809.92 3,964,682.01 -1,739,872.09 Total Income 2,224,809.92 3,964,682.01 -1,739,872.09 Gross Profit 2,224,809.92 3,964,682.01 -1,739,872.09 Expense Page 1 of 6 Jul'25-Jan 26 Budget $Over Budget EXPENSES General&Adminstrative Bank Fees 328.07 700.00 -371.93 Benefits 451.50 1,795.00 -1,343.50 Conference Fees 0.00 500.00 -500.00 Contracted Services 332,517.51 1,252,781.00 -920,263.49 Credit Card Fees 911.80 1,600.00 -688.20 Dues/Subscriptions/Publications 3,474.94 13,800.00 -10,325.06 Employee Screenings 0.00 500.00 -500.00 General Insurance 2,401.25 9,700.00 -7,298.75 In-Kind SLC Dept DED Expenses 0.00 53,805.00 -53,805.00 In-Kind SLC Dept Salaries&Ben 0.00 1,306,787.01 -1,306,787.01 Parking/Mileage 75.88 1,800.00 -1,724.12 Travel 60.00 5,881.00 -5,821.00 Utilities 4,322.31 10,000.00 -5,677.69 Total General&Adminstrative 344,543.26 2,659,649.01 -2,315,105.75 Program Expenses Advertising&Publicity 21,861.94 62,583.00 -40,721.06 Artist Commissions 13,223.00 3,850.00 9,373.00 Beverages Purchased Alcohol 0.00 8,000.00 -8,000.00 Non Alcohol 0.00 5,500.00 -5,500.00 Total Beverages Purchased 0.00 13,500.00 -13,500.00 Equipment Rental 15,484.86 171,750.00 -156,265.14 Food&Beverage 2,920.95 8,250.00 -5,329.05 Grant Expense Artist in the Classroom 21,000.00 21,000.00 0.00 General Support 324,050.00 333,000.00 -8,950.00 Project Support 81,750.00 146,000.00 -64,250.00 Total Grant Expense 426,800.00 500,000.00 -73,200.00 Graphics/Design Work 16.50 9,400.00 -9,383.50 Honoraria&Artist Fees 226,000.00 119,850.00 106,150.00 In-Kind Goods&Services 0.00 165,000.00 -165,000.00 Mailing 332.30 700.00 -367.70 Merchandise -268.00 3,500.00 -3,768.00 Miscellaneous Charge 1,141.18 8,711.00 -7,569.82 Payroll Taxes Federal Unemployment Tax 44.11 FICA 2,461.57 Payroll Taxes-Other 0.00 11,260.00 -11,260.00 Total Payroll Taxes 2,505.68 11,260.00 -8,754.32 Permits&Licenses 3,760.00 37,030.00 -33,270.00 Page 2 of 6 Jul'25-Jan 26 Budget $Over Budget Postage 156.00 2,400.00 -2,244.00 Printing 1,468.60 22,900.00 -21,431.40 Salaries&Wages 29,991.67 143,665.00 -113,673.33 Security 463.50 56,250.00 -55,786.50 Supplies 9,724.35 20,752.00 -11,027.65 Unemployment 629.84 5,000.00 -4,370.16 Total Program Expenses 756,212.37 1,366,351.00 -610,138.63 Total EXPENSES 1,100,755.63 4,026,000.01 -2,925,244.38 Payroll Expenses 0.00 Total Expense 1,100,755.63 4,026,000.01 -2,925,244.38 Net Ordinary Income 1,124,054.29 -61,318.00 1,185,372.29 Net Income 1,124,054.29 61,318.00 1,185,372.29 Page 3 of 6 Salt Lake Arts Council Foundation 4:42 PM Profit & Loss Budget vs. Actual 02/03/2026 July 2025 through January 2026 Accrual Basis %of Budget Ordinary Income/Expense Income REVENUE CITY In-Kind SLC Dept DED Exp. 0.0% In-Kind SLC Dept Salaries&Ben 0.0% SLC Nondepartmental 100.0% Total CITY 42.97% CONTRIBUTIONS Corporate 59.73% Foundations 100.05% In-Kind 0.0% Individuals 68.57% Total CONTRIBUTIONS 84.04% EARNED INCOME Beverage Sales Alcohol 0.0% Total Beverage Sales 0.0% Commissions 303.99% Merchandise Sales Other Fees 176.15% Rental Fees 28.86% Ticket Sales 100.0% Vendor Fees 0.0% Total EARNED INCOME 69.54% GOVERNMENT GRANTS County 35.88% Federal 0.0% State 100.0% Total GOVERNMENT GRANTS 42.77% OTHER REVENUE Interest 77.45% Miscellaneous Income Total OTHER REVENUE 83.94% Total REVENUE 56.12% Total Income 56.12% Gross Profit 56.12% Expense Page 4 of 6 %of Budget EXPENSES General&Adminstrative Bank Fees 46.87% Benefits 25.15% Conference Fees 0.0% Contracted Services 26.54% Credit Card Fees 56.99% Dues/Subscriptions/Publications 25.18% Employee Screenings 0.0% General Insurance 24.76% In-Kind SLC Dept DED Expenses 0.0% In-Kind SLC Dept Salaries&Ben 0.0% Parking/Mileage 4.22% Travel 1.02% Utilities 43.22% Total General&Adminstrative 12.95% Program Expenses Advertising&Publicity 34.93% Artist Commissions 343.46% Beverages Purchased Alcohol 0.0% Non Alcohol 0.0% Total Beverages Purchased 0.0% Equipment Rental 9.02% Food&Beverage 35.41% Grant Expense Artist in the Classroom 100.0% General Support 97.31% Project Support 55.99% Total Grant Expense 85.36% Graphics/Design Work 0.18% Honoraria&Artist Fees 188.57% In-Kind Goods&Services 0.0% Mailing 47.47% Merchandise -7.66% Miscellaneous Charge 13.1% Payroll Taxes Federal Unemployment Tax FICA Payroll Taxes-Other 0.0% Total Payroll Taxes 22.25% Permits&Licenses 10.15% Page 5 of 6 %of Budget Postage 6.5% Printing 6.41% Salaries&Wages 20.88% Security 0.82% Supplies 46.86% Unemployment 12.6% Total Program Expenses 55.35% Total EXPENSES 27.34% Payroll Expenses Total Expense 27.34% Net Ordinary Income -1,833.16% Net Income -1,833.16% Page 6 of 6