Artspace Inc
- Assets
- $304.8k
- Revenue
- $291.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Maynard, MA
- Founding
- 08/1989
- Data as of
- 12/2021
- EIN
- 04-2986718
Organization Overview
Artspace Inc is located in Maynard, MA. The organization was established in 1989. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Artspace Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Artspace 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 12/2021, Artspace Inc generated $291.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $414.8k during the year ending 12/2021. While expenses have increased by 6.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
PROMOTION THE ARTS BY LEASING REAL ESTATE AND SUB-LEASING IT TO PERFORMING ARTISTS FOR STUDIO AND PERFORMACE SPACE AT BELOW MARKET RENTAL LEVELS AND TO PROVIDE ARTS EDUCATION CLASSES, WORKSHOPS, TOURS AND SIMILAR ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZATION HAS SECURED A MASTER TENANCY OF A BUILDING WHICH IS BEING SUBLET FOR USE BY ARTISTS AS STUDIOS.
THE METAL-ITY EXHIBITION A DYNAMIC, OPEN-AIR ART EXHIBITION ENCOMPASSING MORE THAN 100 WORKS OF ART FROM ACROSS NEW ENGLAND, INTERPLAYING ART AND NATURE WHILE OFFERING BOUNTIFUL OPPORTUNITIES FOR LEARNING AND COMMUNITY CELEBRATION.
WORKSHOPS IN MONOPRINTING WITH A PRESS FROM PAINTERLY PLATES TO EXPERIMENTAL MARKMAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gwen Murphy Clerk | OfficerTrustee | 1 | $0 |
Bill Cohn Current Treasurer | OfficerTrustee | 1 | $0 |
Gail Erwin President | OfficerTrustee | 1 | $0 |
Raquel Bauman Director | Trustee | 1 | $0 |
John Houchin Director | Trustee | 1 | $0 |
Timothy A Hess Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $31,520 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,566 |
| Noncash contributions included in lines 1a–1f | $648 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,086 |
| Total Program Service Revenue | $243,596 |
| Investment income | $103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $291,785 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $169,615 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,863 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,000 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,060 |
| Advertising and promotion | $19,016 |
| Office expenses | $8,143 |
| Information technology | $4,371 |
| Royalties | $0 |
| Occupancy | $1 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,896 |
| Insurance | $7,474 |
| All other expenses | $3,117 |
| Total functional expenses | $414,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,969 |
| Savings and temporary cash investments | $0 |
| 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 | $123,836 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $304,805 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $17,946 |
| Total liabilities | $17,946 |
| Net assets without donor restrictions | $276,859 |
| Net assets with donor restrictions | $10,000 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $304,805 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Artspace Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Poweroptions Inc Boston, MA PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |
Endowment Analysis
| Net Contributions | $5,000 |
| Ending Balance | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Robert Rauschenberg Foundation New York, NY | $498,786,006 | $26,542,072 |
Marian And Edward Macdowell Inc Peterborough, NH | $57,326,631 | $6,315,316 |
Corporation Of Yaddo Saratoga Springs, NY | $58,580,101 | $4,491,706 |
Emerson Umbrella Inc Concord, MA | $32,547,256 | $2,816,448 |
The Elizabeth Foundation For The Arts New York, NY | $6,747,925 | $1,576,303 |
Kaatsbaan International Dance Center Inc Tivoli, NY | $2,917,016 | $1,601,121 |
Jane And Jack Fitzpatrick Tr Stockbridge, MA | $16,214,471 | $1,247,768 |
Association For Promotion Of Jewish Secularism Valley Stream, NY | $1,073,582 | $1,051,769 |
Volunteer Lawyers For The Arts Inc New York, NY | $1,760,254 | $1,417,543 |
Arts & Business Council Of Greater Boston Inc Boston, MA | $4,352,780 | $1,647,322 |
Womens Studio Workshop Inc Rosendale, NY | $1,606,567 | $544,946 |
Smack Mellon Studios Inc Brooklyn, NY | $757,795 | $747,790 |