Avenue Concept Inc
- Assets
- $372.8k
- Revenue
- $624.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Providence, RI
- Founding
- 04/2016
- Data as of
- 06/2021
- EIN
- 81-0877541
Organization Overview
Avenue Concept Inc is located in Providence, RI. The organization was established in 2016. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Avenue Concept Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Avenue Concept 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 06/2021, Avenue Concept Inc generated $624.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 42.8% each year . All expenses for the organization totaled $610.8k during the year ending 06/2021. While expenses have increased by 28.1% per year over the past 5 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
TO BRING SUSTAINABLE PUBLIC ART TO RHODE ISLAND. SUPPORTING AND PROMOTING PUBLIC ART AND ARTISTS AMONG THE GENERAL PUBLIC AS WELL AS PROVIDING EDUCATIONAL PROGRAMS TO LOCAL YOUTH AND THE GENERAL PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INFLUX PROGRAM. "AN EXPLOSION OF PUBLIC ART IN PROVIDENCE." MORE THAN 20 WORKS OF ART BY LOCAL, NATIONAL, AND INTERNATIONAL ARTISTS INCLUDING MURALS, SCULPUTRES, MOSAICS, AND ACTIVE/VISUAL PERFORMANCES. THE PROJECTS ARE CONCENTRATED IN TWO LOCATIONS: DOWNTOWN PROVIDENCE AND THE "CULTURAL CORRIDOR" BETWEEN CLASSICAL AND CENTRAL HIGH SCHOOLS.
TAKE IT OUTSIDE - RI GRANT. LIGHTING DISPLAY INSTALLATION ILLUMINATED 11 MURALS AND SCULPTURES AROUND DOWNTOWN PROVIDENCE FOR A SPECIAL TWO-NIGHT LIMITED ENGAGEMENT. THE COMMUNITY RESPONSE WAS IMMEDIATE AND ENTHUSIASTIC. AN APP FOR AN INTERACTIVE SELF-GUIDED TOUR WAS USED TO EXPLORE THE ART AND ENCOURAGE PEOPLE TO SHOP AND DINE LOCALLY.
THE AVENUE CONCEPT HAS HELPED TO PAIR ARTISTS WITH UTILITY BOXES THROUGHOUT THE YEARS. IN 2021, WE CREATED A FORMAL PROGRAM AND FACILITATED THE COMPLETION OF 13 BOXES IN PROVIDENCE AND SEVEN IN WARREN, RI. THE BOXES SERVE AS TOOLS FOR COMMUNITY BUILDING CONNECTING RESIDENTS, VISITORS, AND BUSINESSES THROUGHOUT PVD ENCOURAGING PUBLIC ART AND ADDRESSING GRAFFITI CHALLENGES.
THE AVENUE CONCEPT RUNS A "PAINT BAR" FOR USE BY THE PUBLIC TO SUPPORT ITS MISSION OF BRINGING PUBLIC ART TO THE COMMUNITY AND ARTISTS. THE PAINT BAR IS ONE WAY IN WHICH MATERIALS FOR ARTISTIC EXPERESSION AN BE ACCESSED AND USED FOR CREATIVE EXPRESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yarrow Thorne Director Co-Founder | Trustee | 40 | $10,000 |
Jeffrey K Techentin Secretary | OfficerTrustee | 2 | $0 |
Robert Monnes Treasurer | OfficerTrustee | 2 | $0 |
Franciso Lovera Chair | OfficerTrustee | 2 | $0 |
Jill Woodcome Vice Chair | OfficerTrustee | 2 | $0 |
Dr Charles Denby II Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $158,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $391,484 |
| Noncash contributions included in lines 1a–1f | $5,928 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $549,984 |
| Total Program Service Revenue | $82,428 |
| Investment income | $79 |
| 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 | -$8,371 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $624,120 |
| 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. | $10,000 |
| Compensation of current officers, directors, key employees. | $2,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $240,917 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,750 |
| Fees for services: Accounting | $16,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,240 |
| Advertising and promotion | $22,073 |
| Office expenses | $6,186 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,048 |
| Travel | $2,674 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $388 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,102 |
| Insurance | $4,622 |
| All other expenses | $6,285 |
| Total functional expenses | $610,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,181 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,390 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,957 |
| Prepaid expenses and deferred charges | $1,297 |
| Net Land, buildings, and equipment | $69,996 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $372,821 |
| Accounts payable and accrued expenses | $16,333 |
| 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 | $56,671 |
| Total liabilities | $73,004 |
| Net assets without donor restrictions | $299,817 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $372,821 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Avenue Concept Inc has recieved totaling $339,797.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: PROGRAM SUPPORT; GENERAL SUPPORT | $202,250 |
Thorne Cox Family Foundation Boston, MA PURPOSE: OPERATIONS BUDGET ASSISTANCE | $80,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $20,000 |
An Association Foundation Inc Boston, MA PURPOSE: GENERAL SUPPORT | $20,000 |
Clermont Foundation Boston, MA PURPOSE: GENERAL OPERATING | $15,000 |
Robert D Wray Charitable Tr Barrington, RI PURPOSE: OPERATIONAL SUPPORT | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Artists For Humanity Inc Boston, MA | $38,813,967 | $6,181,666 |
The Katharine Hepburn Cultural Arts Center Inc Old Saybrook, CT | $3,859,540 | $4,355,262 |
Nxthvn Inc New Haven, CT | $17,933,474 | $3,738,100 |
Lyme Academy Of Fine Arts Inc Old Lyme, CT | $14,295,843 | $2,513,940 |
Trustees Of Eliot School Jamaica Plain, MA | $3,411,558 | $2,005,547 |
Artists Association Of Nantucket Nantucket, MA | $5,698,877 | $1,841,794 |
Providence Art Club Providence, RI | $7,643,103 | $1,986,193 |
Bucks Rock Camp Inc New Milford, CT | $12,855,094 | $14,216,447 |
Truro Center For The Arts At Castle Hill Inc Truro, MA | $5,336,661 | $1,649,041 |
Hopkinton Center For The Arts Hopkinton, MA | $2,540,455 | $1,697,840 |
Falmouth Artists Guild Inc Falmouth, MA | $2,715,028 | $680,331 |
Neighborhood Studios Of Fairfield County Inc Bridgeport, CT | $354,836 | $613,099 |