Studio-180 EIN 32-0264137

Studio-180

EIN  32-0264137 Public charity (501(c)(3)) Minneapolis, MN
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Size
$1–10M
What they do
Trains community members and individuals in skilled trades.
Leadership
Wallace a Erickson · CEO, Member · $80K
Money in and out
$1.4M revenue, $2.6M expenses
Bottom line
91% program efficiency

Trains community members and individuals in skilled trades. For fiscal year 2023 it reported $1.4M in revenue, $2.6M in expenses, and $-201K in net assets.Pt I

Where the money goes · FY2023
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$2.6M
Pt IX · Ln 25
Net assets
$-201K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.1M
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.04 Fundraising $0.04
Program efficiency
91%
of spending reaches programs▲ +19% vs prior filing year
Operating runway
0.3mo
months of highly liquid reserves at operating expense rate▼ -80% vs prior filing year
Surplus margin
-79%
revenue over expenses, this year▼ -235% vs prior filing year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$1.4M
FY2023▼ -8%
Expenses
$2.6M
FY2023▲ +300%
Total assets
$68K
FY2023▼ -95%
Total liabilities
$269K
FY2023▼ -29%
Total revenue
$1.4M
Pt VIII · Ln 12
Total expenses
$2.6M
Pt IX · Ln 25
Net assets
$-201K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.1M
Total assetsPt X · Ln 16$68K
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 313
Independent voting membersPt I · Ln 413
Mission & Programs · Part III

Where the work happens

3 program services, described in the organization's own filed words · FY2023.
01

Lake Street Works Program

Lake street works (lsw)is a career pathway program designed to prepare teenagers and young adults to navigate the financial challenges of adulthood beginning with earning a consistent living-wage income through a career in construction. The program focuses on minority students ages 14-24.

Pt IX · col B
02

Rising young leaders program training community leaders in skills needed to improve opportunities for all people with a mission of "discovering and developing transformational leaders" in order for them to return to their own community and begin the transformation of their communities in education,safety, work, housing, and nutrition.

Pt IX · col B
03

Highway of hope film film documented the destruction of lake street minneapolis after the murder of george floyd and set out options and ways to rebuild and reimagine lake street after the riots. Film shown to various groups to enourage them to work toward transformation in the minneaplis community and other communities.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CStudio-180
EINHdr · item D32-0264137
Principal addressHdr · item CMinneapolis, MN
WebsiteHdr · item Jwww.studio-180.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFScience & Technology (U192)
Ruling yearIRS BMFMar 2010

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a13
Independent voting membersPt VI · Ln 1b13
Conflict-of-interest policyPt VI · Ln 12aYes
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
$80,000Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Member Bod
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Member Bod
$0Pt VII · Sec A
$0Pt VII · Sec A

Wallace a Erickson’s $80K as CEO, Member is at the 9th percentile of top reported officer pay among 361 $1–10M science & technology 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 · 4 named individuals · Part VII

NameFY2023FY2022FY2021
Jess Coykendall$95,750
Wallace a Erickson$80,000$75,333
Warthur Erickson$70,000
Jill Osborn$16,667

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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Statement of Revenue

Part VIII
Contributions & grants$1.4M · 99%
Investment income$20K · 1%
Contributions & grants99%$1.4M
Investment income1%$20K
Total revenueLn 12$1.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.04 Fundraising $0.04
Program services91%$2.4M
Management & general4%$116K
Fundraising4%$114K
Total functional expensesLn 25$2.6M

Balance Sheet

Part X · end of year
CashLn 1$56K
Total assetsLn 16$68K
Total liabilitiesLn 26$269K
Total net assetsLn 32$-201K
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $56K · Operating expenses/yr $2.6M
0.3 months
Where the money goes
Program services
Program services $2.4M · Total expenses $2.6M
91%
Management & General
Management & general $116K · Total expenses $2.6M
4%
Fundraising
Fundraising $114K · Total expenses $2.6M
4%
Cost to raise $1
Fundraising expense (3-yr avg) $93K · Solicited contributions (3-yr avg) $1.2M
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.4M · Total revenue $1.4M
99%
Government reliance
Government grants — · Total revenue $1.4M
Earned-income share
Program service revenue $0 · Total revenue $1.4M
0%
Investment reliance
Investment income $20K · Total revenue $1.4M
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $2.6M
0%
Growth & trend
Revenue growth (YoY)
This year $1.4M · Prior year $1.6M
-8%
Net-asset trend (YoY)
End of year $-201K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.4M · Expenses $2.6M
-79%
Liabilities-to-Assets
Total liabilities — · Total assets $68K
Net-asset ratio
Net assets $-201K · Total assets $68K
-294%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $68K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Wallace a Erickson · Reported title CEO, MEMBER · Highest reported compensation $80K · Total expenses $2.6M
3%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $446K · Total expenses $2.6M
17%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 4%
Fundraising cost ratio 8%
Revenue growth -8%

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 5 funders$178K
See all 5 funders →

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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
FY2023 (Latest)$1.4M revenue · viewing · ⤓ 990 PDF
FY2022$1.6M revenue · ⤓ 990 PDF
FY2021$507K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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