Studio Place Arts Incorporated
- Assets
- $528.1k
- Revenue
- $123.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Barre, VT
- Founding
- 01/1999
- Data as of
- 12/2021
- EIN
- 03-0357848
Organization Overview
Studio Place Arts Incorporated is located in Barre, VT. The organization was established in 1999. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Studio Place Arts Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studio Place Arts Incorporated 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 12/2021, Studio Place Arts Incorporated generated $123.9k 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 (7.8%) each year. All expenses for the organization totaled $107.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF SPA IS TO PROVIDE THE GENERAL PUBLIC WITH A VITAL CENTER FOR THE VISUAL ARTS THROUGH: (1) MOUNTING ORIGINAL EXHIBITS; (2) TEACHING A BROAD SPECTRUM OF VISUAL ARTS AND CRAFTS; (3) CREATING OPPORTUNITIES FOR PEOPLE TO SEE AND INTERACT WITH WORKING ARTISTS (4) RENTING STUDIOS TO WORKING ARTISTS AT REASONABLE RATES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDIO PLACE ARTS CONDUCTED WORKSHOPS AND CLASSES FOR THE GENERAL PUBLIC ON MAKING ART AND CRAFTS, AND ART LEARNING OPPORTUNITIES THROUGH STUDIO EXPERIENCES AND LECTURES, AND A DIVERSE SCHEDULE OF ART EXHIBITIONS THROUGHOUT THE YEAR IN WHICH ARTISTS WHO CANNOT DISPLAY OR SELL ART IN OTHER FORUMS MAY PARTICIPATE.BEGINNING IN 2015 STUDIO PLACE ARTS HAS A STUDIO RESIDENCE PROGRAM PROVIDING ARTISTS WORKSPACE. DURING 2020 STUDIO PLACE ARTS ONLINE PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Higby Executive Direc | Officer | 40 | $44,210 |
Darryl Garland Chairman | OfficerTrustee | 1 | $0 |
Jody Brown Treasurer | OfficerTrustee | 1 | $0 |
Janet Van Fleet Board Member | Trustee | 1 | $0 |
Pria Cambio Board Member | Trustee | 1 | $0 |
Michael Ridge Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $17,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,138 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,138 |
| Total Program Service Revenue | $25,629 |
| Investment income | $145 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$436 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,202 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $123,873 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $37,579 |
| Compensation of current officers, directors, key employees. | $8,842 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,206 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,013 |
| Payroll taxes | $4,999 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $658 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,387 |
| Advertising and promotion | $2,380 |
| Office expenses | $0 |
| Information technology | $558 |
| Royalties | $0 |
| Occupancy | $10,665 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,087 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,740 |
| Insurance | $5,164 |
| All other expenses | $4,606 |
| Total functional expenses | $107,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,527 |
| Savings and temporary cash investments | $16,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $455,359 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1 |
| Total assets | $528,119 |
| Accounts payable and accrued expenses | $12,550 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $246,551 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,741 |
| Total liabilities | $263,842 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $264,277 |
| Total liabilities and net assets/fund balances | $528,119 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Studio Place Arts Incorporated has recieved totaling $11,500.
| Awarding Organization | Amount |
|---|---|
Vermont Community Foundation Middlebury, VT PURPOSE: GENERAL PURPOSE | $5,500 |
Vermont Council On The Arts Inc Montpelier, VT PURPOSE: GENERAL PURPOSE | $5,000 |
Seidman Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $1,000 |
Endowment Analysis
| Beg. Balance | $10,000 |
| Earnings | $144 |
| Net Contributions | $6,000 |
| Other Expense | $144 |
| Ending Balance | $16,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brooklyn Academy Of Music Inc Brooklyn, NY | $168,013,887 | $29,572,079 |
Bric Arts Media Bklyn Inc Brooklyn, NY | $22,086,824 | $12,315,164 |
The Apollo Theater Foundation Inc New York, NY | $69,978,827 | $33,324,849 |
Shen Yun Performing Arts Inc Cuddebackville, NY | $196,627,077 | $30,836,971 |
Foundation For Contemporary Arts Inc New York, NY | $44,020,214 | $7,582,108 |
National Comedy Center Operator Inc Jamestown, NY | $24,581,570 | $2,926,105 |
World Trade Center Performing Arts Center Inc New York, NY | $505,865,812 | $148,493,145 |
Rosies Theater Kids Inc New York, NY | $7,813,636 | $2,330,340 |
Patchogue Village Center For The Performing Arts Inc Patchogue, NY | $1,959,065 | $2,916,141 |
Young Audiences Inc New York, NY | $8,115,904 | $1,935,453 |
Roulette Intermedium Inc Brooklyn, NY | $2,527,656 | $2,724,059 |
Chashama Inc New York, NY | $1,226,837 | $1,928,554 |