Arts Asylum FY2021 filing

Tax-deductible

Kansas City, MO501(c)(3)Arts & CultureEIN 27-3791414Revenue $268K in FY2021

On file with the IRStheartsasylum.org824 E Meyer Blvd, 64131-1115 · Kansas City, MOTax-exempt since Apr 2013Publicly supported charity — 170(b)(1)(A)(vi)

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The Arts Asylum was created to provide space and assistance to artists of all varieties. This is accomplished through the offering of gallery space to both create and share at affordable rates, studios for artists, the james and marjorie theater for live performances and events, and ongoing programming, and assistance from our team.

501(c)(3) charity; gifts are tax-deductible.
73¢ 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
2 of 5
filings with a surplus
Average deficit $13K a year · 5% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 21.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $24K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$535K
93% of total assets
Concern: liabilities are 93% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 10 voting members
Looks good: 7 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$268K
+64% vs prior year
Spent
$306K
To programs
73%
Net assets
$39K
By yearFY2020–FY2024
Revenue
$268K
FY2021▲ +64%
Tap a bar for its year
Revenue by fiscal year
FY2020$164K
FY2021$268K
FY2022$164K
FY2023$293K
FY2024$292K
Expenses
$306K
FY2021▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$247K
FY2021$306K
FY2022$179K
FY2023$247K
FY2024$266K
Net assets
$39K
FY2021▼ -49%
Tap a bar for its year
Net assets by fiscal year
FY2020$76K
FY2021$39K
FY2022$24K
FY2023$70K
FY2024$96K

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 Apr 2013.

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

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $223K Management & general 27% · $83K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Executive Di
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Education Di
$0Pt VII · Sec A
See Arts Asylum 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

Offers affordable gallery, studio, and theater space, plus programming and team assistance, for artists.

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Provided by the organization

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3 programs · $180K · in their own filed words · FY2021
01

Studio Program

Providing affordable artist studio space for greater kansas city with building amenities such as access to open areas, meeting space, conference room, media equipment and free secure parking.

$143Kprogram expense
02

Outreach Programs

Include providing work from our studio artists to the public galleries in two branches of the johnson county public library; at the art asylum annex at premier financial services in the crossroads, and the community room at pendleton artsblock; coordinating arts programming at pendleton artsblock; hosting weekly podcasts on kojh 104.7…

$21Kprogram expense
03

Crossroads High School (chs)

Providing local charter school with visual and performing arts classes during their school day on a bi-weekly basis with working professional actors, directors, and visual artists.

$16Kprogram 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$24K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$268K
Ln 12
Gifts and grantsLn 1h$256K
Fees for servicesLn 2g$136K
Money outPt IX
$306K
Ln 25
Programscol B$223K
Managementcol C$83K
Owns and owesPt X
$39K
net assets · Ln 32
Cash and savingsLn 1–2$536K
Total assetsLn 16$574K
LiabilitiesLn 26$535K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$256K
Government grantsLn 1e$84K
Fees for servicesLn 2g$136K
Gains on assetsLn 7−$124K
Total revenueLn 12$268K
Assets in detailPt X, end of year
CashLn 1$536K
Cash and savings togetherLn 1–2$536K
Land, buildings, equipmentLn 10c$37K
Total assetsLn 16$574K
LiabilitiesLn 26$535K
Net assetsLn 32$39K
OperationsPt I, VI
EmployeesI 50
VolunteersI 618
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$88K$536K
Land, buildings, equipmentLn 10c$136K$37K
Total assetsLn 16$225K$574K
LiabilitiesLn 26$148K$535K
Net assetsLn 32$76K$39K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$21K$21K
Advertising and promotionLn 12$3K$2K$558
Office expensesLn 13$7K$7K
OccupancyLn 16$189K$151K$38K
Conferences, conventions and meetingsLn 19$59K$59K
InterestLn 20$9K$9K
Depreciation, depletion and amortizationLn 22$11K$10K$918
Total functional expensesLn 25$306K$223K$83K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $292K$266K$26K$96K 990 PDF
FY2023 $293K$247K$46K$70K 990 PDF
FY2022 $164K$179K−$15K$24K 990 PDF
FY2021 Viewing $268K$306K−$38K$39K 990 PDF
FY2020 $164K$247K−$83K$76K 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 FY2021 990 (6 parts)
Part I · Summary $268,015 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $30,678$256,277
I-9 Program service revenuePrior year $132,895$136,376
I-10 Investment income−$124,011
I-11 Other revenue−$627
I-12 Total revenuePrior year $163,573$268,015
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $246,909$305,567
I-18 Total expensesPrior year $246,909$305,567
I-19 Revenue less expensesPrior year −$83,336−$37,552
Part VI · Governance 7 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $268,015 across 6 lines filed
Lines not itemized here account for −$627 of total revenue; see the IRS return.
VIII-1e Government grants$84,300
VIII-1f All other contributions, gifts and grants$171,977
VIII-1h Total contributions, gifts and grants$256,277
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $136,376$136,376
VIII-7 Net gain or loss on sales of assetsRelated to mission −$124,011−$124,011
VIII-12 Total revenueRelated to mission $11,738$268,015
Part IX · Statement of functional expenses $305,567 across 8 lines filed
IX-11c Accounting feesManagement $6,075$6,075
IX-11g Other fees for servicesManagement $21,400$21,400
IX-12 Advertising and promotionPrograms $2,231 · Management $558$2,789
IX-13 Office expensesManagement $6,766$6,766
IX-16 OccupancyPrograms $151,260 · Management $37,815$189,075
IX-19 Conferences, conventions and meetingsPrograms $59,274$59,274
IX-20 InterestManagement $9,349$9,349
IX-22 Depreciation, depletion and amortizationPrograms $9,921 · Management $918$10,839
IX-25 Total functional expensesPrograms $222,686 · Management $82,881 · Fundraising $0$305,567
Part X · Balance sheet $573,680 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $88,452$536,403
X-10c Land, buildings and equipment, netStart of year $136,250$37,277
X-16 Total assetsStart of year $224,702$573,680
X-17 Accounts payable and accrued expensesStart of year $2,855$34,785
X-26 Total liabilitiesStart of year $148,255$534,785
X-27 Net assets without donor restrictionsStart of year $76,447−$75,227
X-28 Net assets with donor restrictions$114,122
X-32 Total net assets or fund balancesStart of year $76,447$38,895
X-33 Total liabilities and net assetsStart of year $224,702$573,680
Part XI · Reconciliation of net assets $38,895 net assets at year end
XI-1 Total revenue$268,015
XI-2 Total expenses$305,567
XI-3 Revenue less expenses−$37,552
XI-4 Net assets at start of year$76,447
XI-10 Net assets at end of year$38,895

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

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