Arts Asylum EIN 27-3791414

Arts Asylum

EIN  27-3791414 Public charity (501(c)(3)) Kansas City, MO
Form 990 (PDF) Compare with another nonprofit →
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Size
$100K–1M
What they do
Offers affordable gallery, studio, and theater space, plus programming and team assistance, for artists.
Leadership
Megan Forbes · Secretary
Money in and out
$292K revenue, $266K expenses
Bottom line
29% program efficiency

Offers affordable gallery, studio, and theater space, plus programming and team assistance, for artists. For fiscal year 2024 it reported $292K in revenue, $266K in expenses, and $96K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$292K
Pt VIII · Ln 12
Total expenses
$266K
Pt IX · Ln 25
Net assets
$96K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $26K
Where spending went · Part IX cols B–D
Program services $0.29 Management & general $0.71
Program efficiency
29%
of spending reaches programs▼ -16% vs prior filing year
Operating runway
7.6mo
months of highly liquid reserves at operating expense rate▲ +25% vs prior filing year
Surplus margin
+9%
revenue over expenses, this year▼ -44% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$292K
FY20240%
Expenses
$266K
FY2024▲ +8%
Total assets
$592K
FY2024▲ +2%
Total liabilities
$496K
FY2024▼ -3%
Total revenue
$292K
Pt VIII · Ln 12
Total expenses
$266K
Pt IX · Ln 25
Net assets
$96K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$26K
Total assetsPt X · Ln 16$592K
Program-expense ratioPt IX · col B29%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $78K of program spending, described in the organization's own filed words · FY2024.
01

Theatre Program

Includes producing and co-producing an annual season of professional quality performances from local talent at accessible and affordable prices. In addition to our own productions, the arts asylum rents our fully-equipped theatre to local companies and organizations.

$53Kprogram expense
02

Outreach Programs

Includes providing visual art works to the public galleries at the arts asylum's annex gallery at craft sage financial services in the crossroads, at the community room at pendleton artsblock and quinlan place housing developments; coordinating arts programming at pendleton artsblock; and managing an our town grant from the nea ("love…

$19Kprogram expense
03

Education Program

Includes providing theatre arts education at the south kansas city performing arts academy as part of the school's regular curriculum and contracting with local professionals as faculty. Additionally, the arts asylum is a key partner with starlight theater in tech theater program, which tech theatre training program that is designed to…

$5Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CArts Asylum
EINHdr · item D27-3791414
Principal addressHdr · item CKansas City, MO
WebsiteHdr · item Jwww.theartsasylum.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMO
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A40)
Ruling yearIRS BMFApr 2013

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Education Director
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$156K · 54%
Program service revenue$133K · 45%
Other revenue$3K · 1%
Contributions & grants54%$156K
Program service revenue45%$133K
Other revenue1%$3K
— government grantsLn 1e$125K
Total revenueLn 12$292K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.29 Management & general $0.71
Program services29%$78K
Management & general71%$189K
Total functional expensesLn 25$266K

Balance Sheet

Part X · end of year
CashLn 1$168K
Total assetsLn 16$592K
Total liabilitiesLn 26$496K
Total net assetsLn 32$96K
Months of cash on handcomputed7.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $168K · Operating expenses/yr $266K
7.6 months
Where the money goes
Program services
Program services $78K · Total expenses $266K
29%
Management & General
Management & general $189K · Total expenses $266K
71%
Fundraising
Fundraising $0 · Total expenses $266K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $45K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $156K · Total revenue $292K
54%
Government reliance
Government grants $125K · Total revenue $292K
43%
Earned-income share
Program service revenue $133K · Total revenue $292K
45%
Investment reliance
Investment income $0 · Total revenue $292K
0%
Program self-sufficiency
Program service revenue $133K · Total expenses $266K
50%
Growth & trend
Revenue growth (YoY)
This year $292K · Prior year $293K
0%
Revenue CAGR
FY2020 $164K · FY2024 $292K
+16%
Net-asset trend (YoY)
End of year $96K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $292K · Expenses $266K
+9%
Liabilities-to-Assets
Total liabilities — · Total assets $592K
Net-asset ratio
Net assets $96K · Total assets $592K
16%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $592K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Megan Forbes · Reported title SECRETARY · Highest reported compensation $0 · Total expenses $266K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $266K
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 29%
Overhead ratio 71%
Fundraising cost ratio 0%
Revenue growth -0%
Accounting fee ratio 3%

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
Total grants receivedfrom 2 funders$24K

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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)$292K revenue · viewing · ⤓ 990 PDF
FY2023$293K revenue · ⤓ 990 PDF
FY2022$164K revenue · ⤓ 990 PDF
FY2021$268K revenue · ⤓ 990 PDF
FY2020$164K 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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