Somerville Open Studios Inc
- Assets
- $43.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Somerville, MA
- Founding
- 06/2006
- Data as of
- 06/2022
- EIN
- 01-0814383
Organization Overview
Somerville Open Studios Inc is located in Somerville, MA. The organization was established in 2006. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Somerville Open Studios Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Somerville Open Studios Inc generated $24.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.1%) each year. All expenses for the organization totaled $15.7k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (10.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
PRODUCED AN ANNUAL OPEN STUDIOS EVEN FOR THE PURPOSE OF BROADENING PUBLIC AWARENESS OF VISUAL ARTS AND PROVIDING EXPOSURE TO UNKNOWN AND EMERGING ARTISTS IN SOMERVILLE, MA, AND PROVIDING THE GENERAL PUBLIC OPPORTUNITIES TO INTERACT WITH OVER 190 ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hilary Scott President & Director | 6 | $0 | |
Peter Belford Treasurer & Director | 4 | $0 | |
Aram Comjean Director | 2 | $0 | |
John Haiduk Director | 2 | $0 | |
Thea Paneth - Through Sep 2021 Director | 2 | $0 | |
Katya Papova Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,491 |
| Total Program Service Revenue | $22,980 |
| Membership dues | $0 |
| Investment income | $16 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $24,487 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $1,632 |
| Printing, publications, postage, and shipping | $250 |
| Other expenses | $13,255 |
| Total expenses | $15,742 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $43,281 |
| Other assets | $0 |
| Total assets | $43,281 |
| Total liabilities | $0 |
| Net assets or fund balances | $43,281 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
Artists For Humanity Inc Boston, MA | $38,813,967 | $6,181,666 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |
The Arts Connection Inc New York, NY | $2,703,336 | $4,972,330 |
Alliance For Young Artists & Writers Inc New York, NY | $7,496,330 | $3,366,982 |
Marquis Studios Ltd Brooklyn, NY | $2,435,475 | $3,259,805 |
The Katharine Hepburn Cultural Arts Center Inc Old Saybrook, CT | $3,859,540 | $4,355,262 |
Skowhegan School Of Painting And Sculpture Inc New York, NY | $36,819,916 | $5,437,614 |