North Fourth Art Center
- Assets
- $604.3k
- Revenue
- $26.6k
- Investments
- $0.0
- Employees
- 35
- Location
- Albuquerque, NM
- Founding
- 01/1987
- Data as of
- 06/2021
- EIN
- 85-0303750
Organization Overview
North Fourth Art Center is located in Albuquerque, NM. The organization was established in 1987. 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, North Fourth Art Center employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Fourth Art Center 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, North Fourth Art Center generated $26.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (50.6%) each year. All expenses for the organization totaled $243.5k during the year ending 06/2021. 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE CURRENT FISCAL YEAR, NORTH FOURTH ART CENTER WAS CLOSED DUE TO STATE MANDATED SOCIAL DISTANCE GATHERINGS OF LARGE GROUPS. AS A RESULT OF THE CLOSURE, NORTH FOURTH ART CENTER HAD RELEASED A SIGNIFICANT PORTION OF ITS STAFF. KEY MEMBERS OF THE STAFF MAINTAINED MINIMAL OPERATIONS WITH THE EXPECTATION THAT OPERATIONS WILL RESUME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teresa Phillips President | OfficerTrustee | 1 | $0 |
Michael Tamasi Treasurer | OfficerTrustee | 1 | $0 |
Bryn Naranjo Vice President | OfficerTrustee | 1 | $0 |
Marjorie Neset Executive Director | Officer | 40 | $0 |
Leonard Stitelman Member | Trustee | 1 | $0 |
Michael Murphy Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,592 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,592 |
| Total Program Service Revenue | $20,543 |
| Investment income | $468 |
| 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 | $26,603 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $41,558 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,642 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $80 |
| Fees for services: Other | $6,969 |
| Advertising and promotion | $0 |
| Office expenses | $7,538 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,092 |
| Travel | $30 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,443 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $112,230 |
| Insurance | $13,302 |
| All other expenses | $0 |
| Total functional expenses | $243,536 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $254,845 |
| Savings and temporary cash investments | $141,961 |
| 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 | $176,400 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,075 |
| Total assets | $604,281 |
| Accounts payable and accrued expenses | $17,892 |
| 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 | $249,490 |
| Other liabilities | $0 |
| Total liabilities | $267,382 |
| Net assets without donor restrictions | $329,299 |
| Net assets with donor restrictions | $7,600 |
| 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 | $604,281 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that North Fourth Art Center has recieved totaling $19.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $19 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Academy Of Mathematics & Science South Inc Tucson, AZ | $124,208,680 | $62,725,140 |
Art Bridges Inc Fort Worth, TX | $0 | $357,485,765 |
Big Thought Dallas, TX | $5,164,665 | $9,225,791 |
Southwest School Of Art San Antonio, TX | $10,498,026 | -$15,382,277 |
Anderson Ranch Arts Foundation Snowmass Village, CO | $19,349,000 | $7,444,141 |
Fab Lab Tulsa Inc Tulsa, OK | $905,994 | $2,260,190 |
Art Students League Of Denver Denver, CO | $2,150,049 | $2,289,374 |
Tara Institute Of The Performing Arts Incorporated Boulder, CO | $2,762,734 | $2,020,459 |
Kimball Art Center Park City, UT | $7,426,546 | $2,347,977 |
Santa Fe School For The Arts Santa Fe, NM | $4,340,717 | $1,902,890 |
Oklahoma Arts Institute Oklahoma City, OK | $2,532,394 | $1,383,952 |
Ah Haa School For The Arts Telluride, CO | $12,435,871 | $2,343,816 |