The Studios INC FY2021 filing

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Provides studio space, professional development, networking, and exhibitions for mid-career artists in greater kansas city.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · 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
3 of 5
filings with a surplus
Average surplus $52K a year · 19% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
23 mo
of spending, in cash
Looks good: 22.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $38K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$211
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$253K
-7% vs prior year
Spent
$161K
To programs
82%
Net assets
$2.7M
By yearFY2020–FY2024
Revenue
$253K
FY2021▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$272K
FY2021$253K
FY2022$471K
FY2023$156K
FY2024$204K
Expenses
$161K
FY2021▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$210K
FY2021$161K
FY2022$180K
FY2023$248K
FY2024$296K
Net assets
$2.7M
FY2021▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.6M
FY2021$2.7M
FY2022$3.0M
FY2023$2.9M
FY2024$2.8M

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 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 Jul 2010.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $133K Management & general 18% · $29K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See The Studios INC executive salaries →

Questions the 990 asks

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

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports mid-career artists with studio space, training, connections, and exhibition opportunities.

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1 program · $133K · in their own filed words · FY2021
01

Each resident artist is assigned a studio of between 750 and 3,000 square feet. The studios inc is open 7 days a week. There is also a large fenced-in lot available for outdoor installations, performances, AND/OR workspace.

$133Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 2 funders$38K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$253K
Ln 12
Gifts and grantsLn 1h$173K
Other incomeLn 4–11$80K
Money outPt IX
$161K
Ln 25
Programscol B$133K
Managementcol C$29K
Owns and owesPt X
$2.7M
net assets · Ln 32
Cash and savingsLn 1–2$304K
Total assetsLn 16$2.7M
LiabilitiesLn 26$211
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$173K
Government grantsLn 1e$19K
Noncash giftsLn 1g$25K
Other incomeLn 4–11$80K
Gains on assetsLn 7−$808
Total revenueLn 12$253K
Assets in detailPt X, end of year
SavingsLn 2$304K
Cash and savings togetherLn 1–2$304K
Land, buildings, equipmentLn 10c$2.0M
Other assetsLn 15$388K
Total assetsLn 16$2.7M
LiabilitiesLn 26$211
Net assetsLn 32$2.7M
OperationsPt I, VI
EmployeesI 52
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3More from this return
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$25K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$175K$304K
Land, buildings, equipmentLn 10c$2.0M$2.0M
Total assetsLn 16$2.6M$2.7M
LiabilitiesLn 26$0$211
Net assetsLn 32$2.6M$2.7M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$72K$36K$36K
Payroll taxesLn 10$8K$4K$4K
Legal feesLn 11b$37$37
Accounting feesLn 11c$125$125
Other fees for servicesLn 11g$397$51$346
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$5K$5K
OccupancyLn 16−$18K$9K−$27K
TravelLn 17$105$105
Depreciation, depletion and amortizationLn 22$53K$48K$5K
InsuranceLn 23$16K$13K$2K
Other expenses (24a–d)Ln 24$17K$15K$2K
Total functional expensesLn 25$161K$133K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 17, 2025 $204K$296K−$92K$2.8M 990 PDF
FY2023Filed with the IRS Nov 7, 2024 $156K$248K−$92K$2.9M 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $471K$180K$291K$3.0M 990 PDF
FY2021 ViewingFiled with the IRS Nov 15, 2022 $253K$161K$92K$2.7M 990 PDF
FY2020Filed with the IRS Nov 12, 2021 $272K$210K$62K$2.6M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $253,282 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $192,243$172,866
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year −$339−$808
I-11 Other revenuePrior year $80,059$81,224
I-12 Total revenuePrior year $271,963$253,282
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $83,632$79,744
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $126,794$81,471
I-18 Total expensesPrior year $210,426$161,215
I-19 Revenue less expensesPrior year $61,537$92,067
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $253,282 across 7 lines filed
VIII-1e Government grants$19,171
VIII-1f All other contributions, gifts and grants$153,695
VIII-1g Noncash contributions (included above)$25,150
VIII-1h Total contributions, gifts and grants$172,866
VIII-6 Net rental income or lossExcluded from tax $81,224$81,224
VIII-7 Net gain or loss on sales of assetsRelated to mission −$808−$808
VIII-12 Total revenueRelated to mission −$808 · Unrelated business $0 · Excluded from tax $81,224$253,282
Part IX · Statement of functional expenses $161,215 across 12 lines filed
IX-7 Other salaries and wagesPrograms $36,057 · Management $36,057$72,114
IX-10 Payroll taxesPrograms $3,815 · Management $3,815$7,630
IX-11b Legal feesManagement $37$37
IX-11c Accounting feesManagement $125$125
IX-11g Other fees for servicesPrograms $51 · Management $346$397
IX-12 Advertising and promotionPrograms $7,496$7,496
IX-13 Office expensesManagement $5,420$5,420
IX-16 OccupancyPrograms $9,185 · Management −$27,151−$17,966
IX-17 TravelPrograms $105$105
IX-22 Depreciation, depletion and amortizationPrograms $47,722 · Management $5,302$53,024
IX-23 InsurancePrograms $13,417 · Management $2,241$15,658
IX-24 Other expenses (24a–d)Programs $14,708 · Management $2,467$17,175
IX-25 Total functional expensesPrograms $132,556 · Management $28,659 · Fundraising $0$161,215
Part X · Balance sheet $2,673,590 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $174,805$304,212
X-4 Accounts receivableStart of year $7,513$0
X-10c Land, buildings and equipment, netStart of year $2,034,874$1,981,470
X-15 Other assetsStart of year $371,633$387,908
X-16 Total assetsStart of year $2,588,825$2,673,590
X-17 Accounts payable and accrued expenses$211
X-26 Total liabilitiesStart of year $0$211
X-29 Capital stock or trust principalStart of year $0$0
X-30 Paid-in or capital surplusStart of year $0$0
X-31 Retained earnings or endowmentStart of year $2,588,825$2,673,379
X-32 Total net assets or fund balancesStart of year $2,588,825$2,673,379
X-33 Total liabilities and net assetsStart of year $2,588,825$2,673,590
Part XI · Reconciliation of net assets $2,673,379 net assets at year end
XI-1 Total revenue$253,282
XI-2 Total expenses$161,215
XI-3 Revenue less expenses$92,067
XI-4 Net assets at start of year$2,588,825
XI-9 Other changes in net assets−$7,513
XI-10 Net assets at end of year$2,673,379

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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