Circuit Arts INC EIN 03-0550258 Form 990 (PDF) Claim this org

Circuit Arts INC

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Creates events, programs, and films to spark discussion, debate, and action. For fiscal year 2024 it reported $1.1M in revenue, $1.2M in expenses, and $216K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
West Tisbury, MA
Filings
5 on file (2020–2024)
Revenue
$1.1MFY2024
Expenses
$1.2M
Net assets
$216K
People
11
Filings
5
Updates
0
More identity details & actions ⌄
EIN  03-0550258 Public charity (501(c)(3)) West Tisbury, MA
Form 990 (PDF)
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Size
$1–10M
What they do
Creates events, programs, and films to spark discussion, debate, and action.
Leadership
Brian Ditchfield · Executive Director · $110K
Money in and out
$1.1M revenue, $1.2M expenses
Bottom line
81% program efficiency
Where the money goes · FY2024
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$216K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$71K
Where spending went · Part IX cols B–D
Program services $0.81 Management & general $0.16 Fundraising $0.03
Program efficiency
81%
of spending reaches programs▼ -11% vs prior filing year
Operating runway
0.4mo
months of highly liquid reserves at operating expense rate0% vs prior filing year
Surplus margin
-6%
revenue over expenses, this year▼ -129% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.1M
FY2024▼ -18%
Expenses
$1.2M
FY2024▼ -15%
Total assets
$288K
FY2024▼ -3%
Total liabilities
$72K
FY2024▲ +653%
Total revenue
$1.1M
Pt VIII · Ln 12
Total expenses
$1.2M
Pt IX · Ln 25
Net assets
$216K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$71K
Total assetsPt X · Ln 16$288K
Program-expense ratioPt IX · col B81%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $983K of program spending, described in the organization's own filed words · FY2024.
01

Circuit arts, inc. Is an organization devoted to community building and storytelling through the production of cultural events, film screenings, video production and educational programming.

$983Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCircuit Arts INC
EINHdr · item D03-0550258
Principal addressHdr · item CWest Tisbury, MA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A31)
Ruling yearIRS BMFDec 2004

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director
$110,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member / Clerk
$0Pt VII · Sec A
Board Member / Vice President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member / Treasurer
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Brian Ditchfield’s $110K as Executive Director is at the 40th percentile of top reported officer pay among 3916 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Statement of Revenue

Part VIII
Contributions & grants$736K · 64%
Program service revenue$406K · 36%
Contributions & grants64%$736K
Program service revenue36%$406K
Investment income$1K
Total revenueLn 12$1.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.81 Management & general $0.16 Fundraising $0.03
Program services81%$983K
Management & general16%$198K
Fundraising3%$33K
Total functional expensesLn 25$1.2M

Balance Sheet

Part X · end of year
CashLn 1$43K
Total assetsLn 16$288K
Total liabilitiesLn 26$72K
Total net assetsLn 32$216K
Months of cash on handcomputed0.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $43K · Operating expenses/yr $1.2M
0.4 months
Where the money goes
Program services
Program services $983K · Total expenses $1.2M
81%
Management & General
Management & general $198K · Total expenses $1.2M
16%
Fundraising
Fundraising $33K · Total expenses $1.2M
3%
Cost to raise $1
Fundraising expense (3-yr avg) $46K · Solicited contributions (3-yr avg) $882K
$0.05 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $736K · Total revenue $1.1M
64%
Government reliance
Government grants — · Total revenue $1.1M
Earned-income share
Program service revenue $406K · Total revenue $1.1M
36%
Investment reliance
Investment income $1K · Total revenue $1.1M
+0.1%
Program self-sufficiency
Program service revenue $406K · Total expenses $1.2M
33%
Growth & trend
Revenue growth (YoY)
This year $1.1M · Prior year $1.4M
-18%
Revenue CAGR
FY2020 $947K · FY2024 $1.1M
+5%
Net-asset trend (YoY)
End of year $216K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.1M · Expenses $1.2M
-6%
Liabilities-to-Assets
Total liabilities — · Total assets $288K
Net-asset ratio
Net assets $216K · Total assets $288K
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $288K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Brian Ditchfield · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $110K · Total expenses $1.2M
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $878K · Total expenses $1.2M
72%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 81%
Overhead ratio 16%
Fundraising cost ratio 5%
Revenue growth -18%
Accounting fee ratio 0.9%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 27 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.1M revenue · viewing · ⤓ 990 PDF
FY2023$1.4M revenue · ⤓ 990 PDF
FY2022$1.1M revenue · ⤓ 990 PDF
FY2021$799K revenue · ⤓ 990 PDF
FY2020$947K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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