Detroit Artists Market
- Assets
- $522.4k
- Revenue
- $305.2k
- Investments
- $163.6k
- Employees
- 3
- Location
- Detroit, MI
- Founding
- 11/1938
- Data as of
- 07/2023
- EIN
- 38-1539993
Organization Overview
Detroit Artists Market is located in Detroit, MI. The organization was established in 1938. 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 07/2023, Detroit Artists Market employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Artists Market 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 07/2023, Detroit Artists Market generated $305.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $256.5k during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (6.0%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING AND EXHIBITING WORK OF SOUTHEASTERN MICHIGAN ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING AND EXHIBITING WORK OF SOUTHEASTERN MICHIGAN ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Fry Director | Trustee | 40 | $40,385 |
Kate Baker Chair | Trustee | 1 | $0 |
Denise Freitag Board Member | Trustee | 1 | $0 |
Leslie Graves Board Member | Trustee | 1 | $0 |
Raquel Hardy Board Member | Trustee | 1 | $0 |
Meighen Jackson Committee Ch | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $26,335 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $227,897 |
| Noncash contributions included in lines 1a–1f | $2,884 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $276,732 |
| Total Program Service Revenue | $0 |
| Investment income | $4 |
| 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 | $28,435 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $305,171 |
| 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. | $40,385 |
| Compensation of current officers, directors, key employees. | $4,039 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,279 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,531 |
| Payroll taxes | $7,973 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $24,369 |
| Advertising and promotion | $908 |
| Office expenses | $2,561 |
| Information technology | $9,843 |
| Royalties | $0 |
| Occupancy | $51,388 |
| 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 | $1,407 |
| Insurance | $7,256 |
| All other expenses | $0 |
| Total functional expenses | $256,507 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,468 |
| Savings and temporary cash investments | $20,128 |
| Pledges and grants receivable | $124,440 |
| Accounts receivable, net | $12,126 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $584 |
| Prepaid expenses and deferred charges | $4,479 |
| Net Land, buildings, and equipment | $118,678 |
| Investments—publicly traded securities | $12,926 |
| Investments—other securities | $163,603 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $522,432 |
| Accounts payable and accrued expenses | $1,351 |
| 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 | $108,923 |
| Total liabilities | $110,274 |
| Net assets without donor restrictions | $288,395 |
| Net assets with donor restrictions | $123,763 |
| 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 | $522,432 |