The Laundromat Project Inc
- Assets
- $6.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 14
- Location
- Brooklyn, NY
- Founding
- 02/2010
- Data as of
- 12/2021
- EIN
- 87-0753479
Organization Overview
The Laundromat Project Inc is located in Brooklyn, NY. 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. As of 12/2021, Laundromat Project Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laundromat Project 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, Laundromat Project Inc generated $5.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 37.4% each year . All expenses for the organization totaled $2.0m during the year ending 12/2021. While expenses have increased by 23.5% per year over the past 7 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
THE LAUNDROMAT PROJECT ADVANCES ARTISTS AND NEIGHBORS AS CHANGE AGENTS IN THEIR OWN COMMUNITIES THROUGH ARTIST RESIDENCIES, FELLOWSHIPS, AND COMMUNITY ENGAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANCHOR NEIGHBORHOOD - THE ORGANIZATION OPERATES A THRIVING COMMUNITY HUB WITH WORKSHOPS, PUBLIC PROGRAMS, AND OTHER ARTS PROGRAMMING FOR ARTISTS, NEIGHBORS, AND COMMUNITY PARTNERS IN THE HEART OF CENTRAL BROOKLYN.
CREATE CHANGE ARTIST DEVELOPMENT - INCLUDES AN ARTIST RESIDENCY THAT COMMISSIONS 3-5 ARTISTS A YEAR TO CREATE PUBLIC ART PROJECTS IN LOCAL COMMUNITY SPACES ACROSS NEW YORK CITY. IT ALSO INCLUDES A PROFESSIONAL DEVELOPMENT PROGRAM THAT SUPPORTS UP TO 15 ARTISTS A YEAR IN DEEPENING THEIR SOCIALLY-ENGAGED CREATIVE PRACTIVE.
OTHER PROGRAM SERVICES: THESE EXPENSES RELATED TO THE GENERAL PROGRAMMING EXPENSES THAT HELP SUPPLEMENT THE ORGANIZATION'S KEY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olukemi Ilesanmi Executive Director | Officer | 40 | $107,970 |
Ashima Aggarwal Board Member | Trustee | 1 | $0 |
Kevin Rabsatt Board Member | Trustee | 1 | $0 |
Panthea Lee Board Member | Trustee | 1 | $0 |
Jessica Lee Board Member | Trustee | 1 | $0 |
Alison Cuzzolino Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $227,362 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,918,217 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,145,579 |
| Total Program Service Revenue | $12,525 |
| Investment income | $3,544 |
| 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 | $1,953 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,175,800 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $231,500 |
| Grants and other assistance to domestic individuals. | $104,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $199,089 |
| Compensation of current officers, directors, key employees. | $20,155 |
| Compensation to disqualified persons | $614,933 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $97,592 |
| Payroll taxes | $61,138 |
| Fees for services: Management | $199,017 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $86,021 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $5,067 |
| Office expenses | $32,197 |
| Information technology | $12,892 |
| Royalties | $0 |
| Occupancy | $77,670 |
| 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 | $16,129 |
| Insurance | $6,390 |
| All other expenses | $158,908 |
| Total functional expenses | $1,954,593 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,037 |
| Savings and temporary cash investments | $4,674,508 |
| Pledges and grants receivable | $1,779,505 |
| 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 | $18,587 |
| Prepaid expenses and deferred charges | $15,334 |
| Net Land, buildings, and equipment | $168,172 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,000 |
| Total assets | $6,741,143 |
| Accounts payable and accrued expenses | $83,423 |
| 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 | $5,979 |
| Total liabilities | $89,402 |
| Net assets without donor restrictions | $4,072,324 |
| Net assets with donor restrictions | $2,579,417 |
| 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 | $6,741,143 |
Grants Awarded
Over the last fiscal year, The Laundromat Project Inc has awarded $215,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: See Part IV | $105,000 |
STEPHANIE JOHNSON LLC PURPOSE: See Part IV | $70,000 |
New York, NY PURPOSE: See Part IV | $10,000 |
Brooklyn, NY PURPOSE: See Part IV | $10,000 |
Brooklyn, NY PURPOSE: See Part IV | $10,000 |
LITERARY FREEDOM PROJECT PURPOSE: See Part IV | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Laundromat Project Inc has recieved totaling $128,832.
| Awarding Organization | Amount |
|---|---|
Andrew W Mellon Foundation New York, NY PURPOSE: TO SUPPORT MAPPING OF NEW YORK CITY'S BLACK, INDIGENOUS, PEOPLE OF COLOR LED AND SERVING CULTURAL ENTITIES, A COLLABORATION WITH HESTER STREET AND MUSEUM HUE | $100,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $18,832 |
Robert Rauschenberg Foundation New York, NY PURPOSE: 2-YEAR GRANT FOR CAPITAL PROJECT TO COMPLETE FIRST SEMI-PERMANENT SPACE FOR STAFF AND COMMUNITY | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |
Manchester Craftsmens Guild Pittsburgh, PA | $15,522,345 | $4,460,670 |