Art in the Loop Foundation FY2020 filing

Tax-deductible

Kansas City, MO501(c)(3)Arts & CultureEIN 20-2468361Revenue $65K in FY2020

On file with the IRSartintheloop.comC/O Sara Welch 1201 Walnut, 64106-0000 · Kansas City, MOTax-exempt since May 2005Publicly supported charity — 170(b)(1)(A)(vi)

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Commission public artwork

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $5K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
75%
of spending
Fine: 75% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $10K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$94
0.07% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$65K
Spent
$80K
To programs
75%
Net assets
$127K
By yearFY2020–FY2024
Revenue
$65K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$65K
FY2021$58K
FY2022$67K
FY2023$72K
FY2024$131K
Expenses
$80K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$80K
FY2021$65K
FY2022$62K
FY2023$75K
FY2024$86K
Net assets
$127K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$127K
FY2021$121K
FY2022$129K
FY2023$123K
FY2024$164K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $59K Management & general 25% · $20K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
President & Director
$0Pt VII · Sec A
Vice President & Dir.
$0Pt VII · Sec A
Secretary & Director
$0Pt VII · Sec A
Treasurer & Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Art in the Loop Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Art in the Loop Foundation is an arts and culture nonprofit based in Kansas City, MO.

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Provided by the organization

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1 program · $59K · in their own filed words · FY2020
01

Grants to artists to complete artwork for display in the downtown loop area of Kansas City, Missouri

$59Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$10K
Grants paid · 2 grants · $93K · 2020–2021
Unitemized GrantFY2021$46,630
Unitemized GrantFY2020$46,630

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$65K
Ln 12
Gifts and grantsLn 1h$65K
Investment incomeLn 3$57
Money outPt IX
$80K
Ln 25
Programscol B$59K
Managementcol C$20K
Owns and owesPt X
$127K
net assets · Ln 32
Cash and savingsLn 1–2$121K
Total assetsLn 16$127K
LiabilitiesLn 26$94
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$65K
Government grantsLn 1e$10K
Investment incomeLn 3$57
Total revenueLn 12$65K
Assets in detailPt X, end of year
SavingsLn 2$121K
Cash and savings togetherLn 1–2$121K
Total assetsLn 16$127K
LiabilitiesLn 26$94
Net assetsLn 32$127K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$134K$121K
Total assetsLn 16$139K$127K
LiabilitiesLn 26$63$94
Net assetsLn 32$139K$127K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$15K$15K
Pay of current officers, directors and key staffLn 5$27K$20K$7K$0
Other salaries and wagesLn 7$12K$0$12K$0
Legal feesLn 11b$775$775$0$0
Accounting feesLn 11c$1K$1K$0$0
InsuranceLn 23$5K$4K$807$0
Other expenses (24a–d)Ln 24$19K$18K$663$0
Total functional expensesLn 25$80K$59K$20K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $131K$86K$45K$164K 990 PDF
FY2023 $72K$75K−$2K$123K 990 PDF
FY2022 $67K$62K$5K$129K 990 PDF
FY2021 $58K$65K−$6K$121K 990 PDF
FY2020 Viewing $65K$80K−$15K$127K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $65,023 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $120,759$64,966
I-9 Program service revenue$0
I-10 Investment incomePrior year $134$57
I-11 Other revenue$0
I-12 Total revenuePrior year $120,893$65,023
I-13 Grants and similar amounts paidPrior year $46,630$15,250
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $39,036$39,036
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $31,030$25,344
I-18 Total expensesPrior year $116,696$79,630
I-19 Revenue less expensesPrior year $4,197−$14,607
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $65,023 across 6 lines filed
VIII-1d Related organizations$3,000
VIII-1e Government grants$9,580
VIII-1f All other contributions, gifts and grants$52,386
VIII-1h Total contributions, gifts and grants$64,966
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $57$57
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $57$65,023
Part IX · Statement of functional expenses $79,630 across 7 lines filed
IX-2 Grants to domestic individualsPrograms $15,250$15,250
IX-5 Pay of current officers, directors and key staffPrograms $20,277 · Management $6,759 · Fundraising $0$27,036
IX-7 Other salaries and wagesPrograms $0 · Management $12,000 · Fundraising $0$12,000
IX-11b Legal feesPrograms $775 · Management $0 · Fundraising $0$775
IX-11c Accounting feesPrograms $1,307 · Management $0 · Fundraising $0$1,307
IX-23 InsurancePrograms $3,856 · Management $807 · Fundraising $0$4,663
IX-24 Other expenses (24a–d)Programs $17,936 · Management $663 · Fundraising $0$18,599
IX-25 Total functional expensesPrograms $59,401 · Management $20,229 · Fundraising $0$79,630
Part X · Balance sheet $127,425 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $133,991$120,925
X-4 Accounts receivable$3,000
X-9 Prepaid expenses and deferred chargesStart of year $3,637$3,500
X-16 Total assetsStart of year $139,200$127,425
X-17 Accounts payable and accrued expensesStart of year $63$94
X-26 Total liabilitiesStart of year $63$94
X-32 Total net assets or fund balancesStart of year $139,137$127,331
X-33 Total liabilities and net assetsStart of year $139,200$127,425
Part XI · Reconciliation of net assets $127,331 net assets at year end
XI-1 Total revenue$65,023
XI-2 Total expenses$79,630
XI-3 Revenue less expenses−$14,607
XI-4 Net assets at start of year$139,137
XI-8 Prior period adjustments$2,801
XI-10 Net assets at end of year$127,331

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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