Driehaus Design Initiative
- Assets
- $5.4m
- Revenue
- $156.8k
- Investments
- $5.3m
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 04/2010
- Data as of
- 12/2023
- EIN
- 27-1694951
Organization Overview
Driehaus Design Initiative is located in Chicago, IL. The organization was established in 2010. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Driehaus Design Initiative 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 12/2023, Driehaus Design Initiative generated $156.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (12.0%) each year. All expenses for the organization totaled $183.5k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (10.3%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Driehaus Design Initiative has awarded 36 individual grants totaling $1,182,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE DESIGN EDUCATION, PUBLIC APPRECIATION OF DESIGN, AND THE UNDERSTANDING OF DESIGN HISTORY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRIEHAUS DESIGN INITIATIVE PRODUCES AN ANNUAL EDUCATIONAL FASHION SHOW FOR STUDENTS IN UNDERGRADUATE DESIGN PROGRAMS, SPONSORS AN ONGOING EDUCATIONAL SYMPOSIUM FOR THOSE AND SIMILAR STUDENTS, MAINTAINS A COLLECTION OF WORKS OF FASHION DESIGN, AND EDUCATES THE PUBLIC ABOUT DESIGN AND THE VISUAL ARTS. IT ALSO MAKES GRANTS TO EDUCATIONAL INSTITUTIONS TO SUPPORT DESIGN PROGRAMS. THE ANNUAL DRIEHAUS AWARDS FOR FASHION EXCELLENCE FASHION SHOW PROVIDES A "REAL LIFE" EDUCATIONAL EXPERIENCE FOR THE STUDENTS, ENCOURAGES AND HIGHLIGHTS CREATIVE AND INNOVATIVE FASHION DESIGN, ENCOURAGES STUDENTS TO CONTINUE WORKING IN AND ADVANCING FASHION DESIGN AND FOSTERS PUBLIC APPRECIATION OF INNOVATIVE FASHION DESIGN. THE 2022 SHOW HAS ALSO BEEN CANCELLED DUE TO THE COVID 19 PANDEMIC, BUT THE ORGANIZATION INTENDS TO HOLD THE FASHION SHOW EVENT IN THE FUTURE. THE ORGANIZATION WILL BE AWARDING GRANTS TO SELECTED EDUCATIONAL INSTITUTIONS IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tracey Tarantino Treasurer, Secretary & Directo | 1 | $0 | |
Michelle Molise President & Director | 3 | $0 | |
Linda Yu Director | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $174,549 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$17,769 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $156,780 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $7,843 |
| Total operating and administrative expenses | $78,534 |
| Contributions, gifts, grants paid | $105,000 |
| Total expenses and disbursements | $183,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $85,001 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $5,393,204 |
| Accounts payable and accrued expenses | $5,095 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $5,095 |
Grants Awarded
Over the last fiscal year, Driehaus Design Initiative has awarded $105,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
COLUMBIA COLLEGE CHICAGO PURPOSE: TO SUPPORT THE PRODUCTION AND PRESENTATION OF STUDENT WORK IN GRANTEE'S DEPARTMENT OF FASHION STUDIES | $35,000 |
SCHOOL OF THE ART INSTITUTE OF CHICAGO PURPOSE: TO SUPPORT PRODUCTION AND PRESENTATION OF STUDENT WORK IN GRANTEE'S FASHION DESIGN PROGRAM | $35,000 |
DOMINICAN UNIVERSITY PURPOSE: TO SUPPORT PRODUCTION AND PRESENTATION OF STUDENT WORK IN GRANTEE'S FASHION DESIGN PROGRAM | $35,000 |