The Laundromat Project Inc
- Assets
- $9.7m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 19
- Location
- Brooklyn, NY
- Founding
- 02/2010
- Data as of
- 12/2023
- 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 12/2023, Laundromat Project Inc employed 19 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 12/2023, Laundromat Project Inc generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 35.7% each year . All expenses for the organization totaled $2.7m during the year ending 12/2023. While expenses have increased by 24.3% per year over the past 6 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
2023
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 ORGANIZATIONS KEY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Olukemi Ilesanmi Executive Director Until 12/31/22 | Officer | 40 | $164,308 |
Ayesha Williams Executive Director As Of 1/1/23 | Officer | 40 | $149,923 |
George Suttles Board Chair | OfficerTrustee | 1 | $0 |
Susan Delvalle Treasurer | OfficerTrustee | 1 | $0 |
Ashima Aggarwal Secretary | OfficerTrustee | 1 | $0 |
Rasu Jilani Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $280,587 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,282,731 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,563,318 |
| Total Program Service Revenue | $33,600 |
| Investment income | $130,881 |
| 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 | -$1,820 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,734,078 |
| 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. | $314,500 |
| Compensation of current officers, directors, key employees. | $31,450 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $910,535 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $124,194 |
| Payroll taxes | $140,624 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,095 |
| Fees for services: Accounting | $137,599 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,382 |
| Fees for services: Other | $563,777 |
| Advertising and promotion | $10,308 |
| Office expenses | $41,286 |
| Information technology | $20,003 |
| Royalties | $0 |
| Occupancy | $145,427 |
| 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 | $87,766 |
| Insurance | $8,877 |
| All other expenses | $79,663 |
| Total functional expenses | $2,676,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $561,509 |
| Savings and temporary cash investments | $1,030,555 |
| Pledges and grants receivable | $2,886,498 |
| 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 | $16,684 |
| Prepaid expenses and deferred charges | $57,747 |
| Net Land, buildings, and equipment | $103,170 |
| Investments—publicly traded securities | $4,643,185 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $125,740 |
| Other assets | $278,468 |
| Total assets | $9,703,556 |
| Accounts payable and accrued expenses | $44,172 |
| 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 | $106,988 |
| Total liabilities | $151,160 |
| Net assets without donor restrictions | $4,869,734 |
| Net assets with donor restrictions | $4,682,662 |
| 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 | $9,703,556 |
Grants Awarded
Over the last fiscal year, The Laundromat Project Inc has awarded $215,000 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
HESTER STREET COLLABORATIVE PURPOSE: See Part IV | $105,000 |
STEPHANIE JOHNSON LLC PURPOSE: See Part IV | $70,000 |
OPEN SPACE INSTITUE PURPOSE: See Part IV | $10,000 |
LITERARY FREEDOM PROJECT PURPOSE: See Part IV | $10,000 |
NEW YORK FOUNDATION FOR THE ARTS PURPOSE: See Part IV | $10,000 |
BLACKSPACE PURPOSE: See Part IV | $10,000 |