Creative Time Inc
- Assets
- $1.8m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 29
- Location
- New York, NY
- Founding
- 11/1976
- Data as of
- 12/2021
- EIN
- 13-2835847
Organization Overview
Creative Time Inc is located in New York, NY. The organization was established in 1976. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Creative Time Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Creative Time 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, Creative Time Inc generated $3.2m 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 (3.2%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) 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
CREATIVE TIME COMMISSIONS, PRODUCES AND PRESENTS TEMPORARY PUBLIC ARTS PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justine Ludwig Executive Director | Officer | 40 | $200,446 |
Jon Neidich Chair | OfficerTrustee | 5 | $0 |
Francesca Campbell Treasurer | OfficerTrustee | 4 | $0 |
Dana Farouki Director | Trustee | 3 | $0 |
Molly Gochman Director | Trustee | 3 | $0 |
Sofia Hernandez Chong Cuy Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,150 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $363,725 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,628,269 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,004,144 |
| Total Program Service Revenue | $0 |
| Investment income | $7,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,080 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $31,043 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,167,795 |
| 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. | $216,305 |
| Compensation of current officers, directors, key employees. | $29,639 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $852,012 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,749 |
| Payroll taxes | $73,595 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $735 |
| Fees for services: Accounting | $21,375 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,075 |
| Fees for services: Other | $266,947 |
| Advertising and promotion | $24,572 |
| Office expenses | $203,981 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $44,301 |
| 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 | $17,044 |
| Insurance | $24,222 |
| All other expenses | $0 |
| Total functional expenses | $2,923,233 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $697,212 |
| Savings and temporary cash investments | $93,639 |
| Pledges and grants receivable | $71,453 |
| 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 | $8,570 |
| Net Land, buildings, and equipment | $614,777 |
| Investments—publicly traded securities | $350,774 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,836,425 |
| Accounts payable and accrued expenses | $60,025 |
| Grants payable | $0 |
| Deferred revenue | $2,000 |
| 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 | $0 |
| Total liabilities | $62,025 |
| Net assets without donor restrictions | $1,098,766 |
| Net assets with donor restrictions | $675,634 |
| 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 | $1,836,425 |
Grants Recieved
Over the last fiscal year, we have identified 35 grants that Creative Time Inc has recieved totaling $1,656,082.
| Awarding Organization | Amount |
|---|---|
Ford Foundation New York, NY PURPOSE: CORE SUPPORT OF WHEN WE GATHER FOR A DANCE AND SPOKEN WORD FILM PRODUCTION TO PROMOTE UNITY, INSPIRED BY VICE-PRESIDENT ELECT KAMALA HARRIS, AND PRODUCED BY AN ALL-FEMALE TEAM OF PREEMINENT VISUAL AND PERFORMANCE ARTISTS | $300,000 |
Foundation To Promote Open Society New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $200,000 |
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $150,000 |
Greater Houston Community Foundation Houston, TX PURPOSE: ARTS | $100,000 |
Thomas R Schiff Foundation Cincinnati, OH PURPOSE: SPECIAL EXHIBITION TO OCCUR IN 2023 | $100,000 |
Tides Foundation San Francisco, CA PURPOSE: HEALTHY INDIVIDUALS AND COMMUNITIES | $100,000 |
Endowment Analysis
| Beg. Balance | $411,997 |
| Net Contributions | $975,000 |
| Other Expense | $711,363 |
| Ending Balance | $675,634 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |
St Anns Warehouse Inc Brooklyn, NY | $32,618,208 | $8,833,127 |
Mount Carmel Guild Education Newark, NJ | $2,668,838 | $6,215,422 |
One Club For Creativity Inc New York, NY | $23,237,696 | $9,988,732 |
Consensus Building Institute Inc Cambridge, MA | $9,333,296 | $7,559,086 |