Arts Asylum FY2023 filing

Tax-deductible

Kansas City, MO501(c)(3)Arts & CultureEIN 27-3791414Revenue $293K in FY2023

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.
35¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
35%
of spending
Concern: 35% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 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
$512K
88% of total assets
Concern: liabilities are 88% of assets; over 80%.
Pt X · Ln 26
Independent board members
6
of 9 voting members
Looks good: 6 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$293K
+78% vs prior year
Spent
$247K
To programs
35%
Net assets
$70K
By yearFY2020–FY2024
Revenue
$293K
FY2023▲ +78%
Tap a bar for its year
Revenue by fiscal year
FY2020$164K
FY2021$268K
FY2022$164K
FY2023$293K
FY2024$292K
Expenses
$247K
FY2023▲ +38%
Tap a bar for its year
Expenses by fiscal year
FY2020$247K
FY2021$306K
FY2022$179K
FY2023$247K
FY2024$266K
Net assets
$70K
FY2023▲ +191%
Tap a bar for its year
Net assets by fiscal year
FY2020$76K
FY2021$39K
FY2022$24K
FY2023$70K
FY2024$96K

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 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

35 cents of each dollar spent went to programs.

Program services 35% · $86K Management & general 65% · $161K

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

9 people listed on the 990.

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
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 · $86K · in their own filed words · FY2023
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.

$60Kprogram 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…

$15Kprogram 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.

$11Kprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$293K
Ln 12
Gifts and grantsLn 1h$149K
Fees for servicesLn 2g$140K
Other incomeLn 4–11$4K
Money outPt IX
$247K
Ln 25
Programscol B$86K
Managementcol C$161K
Owns and owesPt X
$70K
net assets · Ln 32
Cash and savingsLn 1–2$124K
Total assetsLn 16$583K
LiabilitiesLn 26$512K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$149K
Government grantsLn 1e$100K
Fees for servicesLn 2g$140K
Other incomeLn 4–11$4K
Total revenueLn 12$293K
Assets in detailPt X, end of year
CashLn 1$124K
Cash and savings togetherLn 1–2$124K
Land, buildings, equipmentLn 10c$458K
Total assetsLn 16$583K
LiabilitiesLn 26$512K
Net assetsLn 32$70K
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 FY23End FY23
Cash and savingsLn 1–2$57K$124K
Land, buildings, equipmentLn 10c$493K$458K
Total assetsLn 16$549K$583K
LiabilitiesLn 26$525K$512K
Net assetsLn 32$24K$70K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$173K$52K$121K
Advertising and promotionLn 12$900$720$180
Office expensesLn 13$16K$16K
OccupancyLn 16$1K$1K$289
Conferences, conventions and meetingsLn 19$428$428
InterestLn 20$14K$14K
Depreciation, depletion and amortizationLn 22$34K$32K$3K
Total functional expensesLn 25$247K$86K$161K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $292K$266K$26K$96K 990 PDF
FY2023 Viewing $293K$247K$46K$70K 990 PDF
FY2022 $164K$179K−$15K$24K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $293,051 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $57,461$149,035
I-9 Program service revenuePrior year $112,153$140,443
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year −$5,180$3,573
I-12 Total revenuePrior year $164,434$293,051
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $179,128$246,784
I-18 Total expensesPrior year $179,128$246,784
I-19 Revenue less expensesPrior year −$14,694$46,267
Part VI · Governance 6 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members6
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 $293,051 across 5 lines filed
Lines not itemized here account for $3,573 of total revenue; see the IRS return.
VIII-1e Government grants$100,000
VIII-1f All other contributions, gifts and grants$49,035
VIII-1h Total contributions, gifts and grants$149,035
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $140,443$140,443
VIII-12 Total revenueRelated to mission $144,016 · Unrelated business $0 · Excluded from tax $0$293,051
Part IX · Statement of functional expenses $246,784 across 8 lines filed
IX-11c Accounting feesManagement $6,990$6,990
IX-11g Other fees for servicesPrograms $51,702 · Management $121,104$172,806
IX-12 Advertising and promotionPrograms $720 · Management $180$900
IX-13 Office expensesManagement $15,562$15,562
IX-16 OccupancyPrograms $1,156 · Management $289$1,445
IX-19 Conferences, conventions and meetingsPrograms $428$428
IX-20 InterestManagement $14,210$14,210
IX-22 Depreciation, depletion and amortizationPrograms $31,688 · Management $2,755$34,443
IX-25 Total functional expensesPrograms $85,694 · Management $161,090 · Fundraising $0$246,784
Part X · Balance sheet $582,608 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $56,586$124,493
X-10c Land, buildings and equipment, netStart of year $492,557$458,115
X-16 Total assetsStart of year $549,143$582,608
X-17 Accounts payable and accrued expensesStart of year $24,942$12,140
X-26 Total liabilitiesStart of year $524,942$512,140
X-27 Net assets without donor restrictionsStart of year $24,201$70,468
X-32 Total net assets or fund balancesStart of year $24,201$70,468
X-33 Total liabilities and net assetsStart of year $549,143$582,608
Part XI · Reconciliation of net assets $70,468 net assets at year end
XI-1 Total revenue$293,051
XI-2 Total expenses$246,784
XI-3 Revenue less expenses$46,267
XI-4 Net assets at start of year$24,201
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$70,468

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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