Artspace INC EIN 22-2533535 Form 990 (PDF) Claim this org

Artspace INC FY2020 filing

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Connects artists and communities to foster visual arts engagement and new ways of learning. For fiscal year 2020 it reported $456K in revenue, $537K in expenses, and $463K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Foxborough, MA
Website
www.artspacenh.org
Filings
5 on file (2020–2020)
Revenue
$456KFY2020
Expenses
$537K
Net assets
$463K
People
21
Filings
5
Updates
0
More identity details & actions ⌄
EIN  22-2533535 Public charity (501(c)(3)) Foxborough, MA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →
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Size
<$100K
What they do
Connects artists and communities to foster visual arts engagement and new ways of learning.
Leadership
Helen Kauder · Former Executive Director, Ex-Officer · $88K
Money in and out
$456K revenue, $537K expenses
Bottom line
66% program efficiency
Where the money goes · FY2020
Total revenue
$456K
Pt VIII · Ln 12
Total expenses
$537K
Pt IX · Ln 25
Net assets
$463K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$81K
Where spending went · Part IX cols B–D
Program services $0.66 Management & general $0.20 Fundraising $0.14
Program efficiency
66%
of spending reaches programs
Operating runway
11.8mo
months of highly liquid reserves at operating expense rate
Surplus margin
-18%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$456K
FY2020
Expenses
$537K
FY2020
Total assets
$571K
FY2020
Total liabilities
$108K
FY2020
Total revenue
$456K
Pt VIII · Ln 12
Total expenses
$537K
Pt IX · Ln 25
Net assets
$463K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$81K
Total assetsPt X · Ln 16$571K
Program-expense ratioPt IX · col B66%
Voting members of governing bodyPt I · Ln 320
Independent voting membersPt I · Ln 419

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CArtspace INC
EINHdr · item D22-2533535
Principal addressHdr · item CFoxborough, MA
WebsiteHdr · item Jwww.artspacenh.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A20Z)
Ruling yearIRS BMFFeb 1987

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a20
Independent voting membersPt VI · Ln 1b19
Conflict-of-interest policyPt VI · Ln 12aNo
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 · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Former Executive Director, Ex-Officer
$88,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Lisa Dent’s $75K as Executive Director is at the 98th percentile of top reported officer pay among 249 <$100K 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.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2022FY2021FY2020
Lisa Dent$75,236$100,000
Helen Kauder$88,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

3 program services account for $353K of program spending, described in the organization's own filed words · FY2019.
01

Artspace's gallery program includes exhibitions in various formats and scales, including individual solo exhibitions, group exhibitions, window installations, and annual artist in residency, and a large city-wide festival that encompasses offsite exhibitions at as many as 65 sites.

$190Kprogram expense
02

City-Wide Open Studios

Since 1998, artspace has presented city-wide open studios, a fall festival that brings together as many as 400 area jartists with thousands of audience members. Artists in new haven, west haven, hamden and north haven open their studios to the public.

$110Kprogram expense
03

Youth and Education Programs

Artspace organizes a range of initiatives designed for long-term relationship building between artists, educatiors, and students. This year, artspace organized and executed the 18TH annual summer apprentice program(sap).

$53Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$380K · 83%
Program service revenue$69K · 15%
Investment income$7K · 2%
Contributions & grants83%$380K
Program service revenue15%$69K
Investment income2%$7K
— government grantsLn 1e$39K
Total revenueLn 12$456K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.66 Management & general $0.20 Fundraising $0.14
Program services66%$353K
Management & general20%$109K
Fundraising14%$75K
Total functional expensesLn 25$537K

Balance Sheet

Part X · end of year
CashLn 1$275K
Total assetsLn 16$571K
Total liabilitiesLn 26$108K
Total net assetsLn 32$463K
Months of cash on handcomputed6.1

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $529K · Operating expenses/yr $537K
11.8 months
Where the money goes
Program services
Program services $353K · Total expenses $537K
66%
Management & General
Management & general $109K · Total expenses $537K
20%
Fundraising
Fundraising $75K · Total expenses $537K
14%
Cost to raise $1
Fundraising expense $75K · Solicited contributions $341K
$0.22 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $380K · Total revenue $456K
83%
Government reliance
Government grants $39K · Total revenue $456K
9%
Earned-income share
Program service revenue $69K · Total revenue $456K
15%
Investment reliance
Investment income $7K · Total revenue $456K
+2%
Program self-sufficiency
Program service revenue $69K · Total expenses $537K
13%
Growth & trend
Revenue growth (YoY)
This year $456K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $463K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $456K · Expenses $537K
-18%
Liabilities-to-Assets
Total liabilities — · Total assets $571K
Net-asset ratio
Net assets $463K · Total assets $571K
81%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $255K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $571K
45%
People & payroll
Highest Reported Total Compensation
Individual Jessica Labbe · Reported title TREASURER · Highest reported compensation $0 · Total expenses $537K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $211K · Total expenses $537K
39%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 66%
Overhead ratio 20%
Fundraising cost ratio 20%
Investment management fee ratio 0.4%
Legal fee ratio 0.2%
Accounting fee ratio 2%

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 · FY2023
Total grants receivedfrom 1 funder$38K

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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)$9K revenue · ⤓ 990 PDF
FY2023$277K revenue · ⤓ 990 PDF
FY2022$707K revenue · ⤓ 990 PDF
FY2021$506K revenue · ⤓ 990 PDF
FY2020$456K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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