Partnership INC FY2022 filing

Tax-deductible

Juneau, AK501(c)(3)Since 2013Arts & CultureEIN 46-4451460Revenue $381K in FY2022

On file with the IRScapitalciviccenter.orgPo Box 33193, 99803-3193 · Juneau, AKTax-exempt since Aug 2014Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Partnership is to design, fund, and construct the new juneau arts and cultural center (jacc).

501(c)(3) charity; gifts are tax-deductible.
$43K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $280K a year · 70% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$43K
to officers and key staff · 34% of spending
Concern: pay to officers and key staff is 34% of spending; over 30%.
Pt VII · Sec A
Cash reserves
30 mo
of spending, in cash
Looks good: 29.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
0.09% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$381K
+55% vs prior year
Spent
$126K
To programs
0%
Net assets
$3.8M
By yearFY2020–FY2025
Revenue
$381K
FY2022▲ +55%
Tap a bar for its year
Revenue by fiscal year
FY2020$569K
FY2021$246K
FY2022$381K
FY2023$236K
FY2024$340K
FY2025$617K
Expenses
$126K
FY2022▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2020$135K
FY2021$101K
FY2022$126K
FY2023$119K
FY2024$120K
FY2025$108K
Net assets
$3.8M
FY2022▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$3.9M
FY2022$3.8M
FY2023$4.0M
FY2024$4.4M
FY2025$5.0M

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2014.

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

Where the money goes

What each dollar paid for.

Management & general 44% · $55K Fundraising 56% · $71K

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

17 people listed on the 990; $43K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Di
$42,600Pt VII · Sec A
$0Pt VII · Sec A
Co-Chair
$0Pt VII · Sec A
Co-Vice Chai
$0Pt VII · Sec A
Co-Vice Chai
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Bob Banghart’s $40K as Executive Di is at the 35th percentile of top reported officer pay among 2216 $100K–1M arts & culture 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 · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Bob Banghart$40,140$37,320$56,040$42,600$43,440—
Katharine Heumann—————$37,150
Nancy Decherney$18,001$11,974————

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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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

Builds and funds a new arts and cultural center.

Questions for Partnership INC

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Provided by the organization

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1 program · in their own filed words · FY2021
01

The purpose of the new jacc is to construct a building that brings together artistic and cultural activities. It will be a multi-purpose facility serving as a home for the juneau arts & humanities council & other arts organizations, and will provide space for performances, exhibits, celebrations and gatherings for the engagement and…

Pt IX · col B

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 1 funder$10K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$381K
Ln 12
Gifts and grantsLn 1h$289K
Investment incomeLn 3$80K
Other incomeLn 4–11$13K
Money outPt IX
$126K
Ln 25
Managementcol C$55K
Fundraisingcol D$71K
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$311K
Total assetsLn 16$3.8M
LiabilitiesLn 26$3K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$289K
Government grantsLn 1e$15K
Noncash giftsLn 1g$6K
Investment incomeLn 3$80K
Other incomeLn 4–11$13K
Total revenueLn 12$381K
Assets in detailPt X, end of year
CashLn 1$311K
Cash and savings togetherLn 1–2$311K
InvestmentsLn 11–13$1.8M
Land, buildings, equipmentLn 10c$1.5M
Total assetsLn 16$3.8M
LiabilitiesLn 26$3K
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$249K$311K
InvestmentsLn 11–13$2.0M$1.8M
Land, buildings, equipmentLn 10c$1.5M$1.5M
Total assetsLn 16$3.9M$3.8M
LiabilitiesLn 26$19K$3K
Net assetsLn 32$3.9M$3.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$50K$17K$17K$17K
Other salaries and wagesLn 7$50K$5K$6K$39K
Payroll taxesLn 10$4K$339$416$3K
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$14K$14K
Advertising and promotionLn 12$2K$10$2K
Office expensesLn 13$5K$3K$3K
Information technologyLn 14$6K$5K$1K
TravelLn 17$6K$6K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24−$22K−$22K
Total functional expensesLn 25$126K$0$55K$71K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $617K$108K$509K$5.0M 990 PDF
FY2024 $340K$120K$219K$4.4M 990 PDF
FY2023 $236K$119K$117K$4.0M 990 PDF
FY2022 Viewing $381K$126K$255K$3.8M 990 PDF
FY2021 $246K$101K$145K$3.9M 990 PDF
FY2020 $569K$135K$434K$3.8M 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 FY2022 990 (6 parts)
Part I · Summary $380,957 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $234,214$288,763
I-9 Program service revenue$0
I-10 Investment incomePrior year $8,484$79,600
I-11 Other revenuePrior year $3,042$12,594
I-12 Total revenuePrior year $245,740$380,957
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $87,422$103,538
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $13,535$22,595
I-18 Total expensesPrior year $100,957$126,133
I-19 Revenue less expensesPrior year $144,783$254,824
Part VI · Governance 16 of 16 board members independent, 3 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $380,957 across 7 lines filed
Lines not itemized here account for $6,200 of total revenue; see the IRS return.
VIII-1e Government grants$14,950
VIII-1f All other contributions, gifts and grants$273,813
VIII-1g Noncash contributions (included above)$6,500
VIII-1h Total contributions, gifts and grants$288,763
VIII-3 Investment incomeExcluded from tax $79,600$79,600
VIII-8 Net income from fundraising eventsExcluded from tax $565$6,394
VIII-12 Total revenueExcluded from tax $86,365$380,957
Part IX · Statement of functional expenses $126,133 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $16,640 · Management $16,640 · Fundraising $16,640$49,920
IX-7 Other salaries and wagesPrograms $4,801 · Management $5,902 · Fundraising $39,382$50,085
IX-10 Payroll taxesPrograms $339 · Management $416 · Fundraising $2,778$3,533
IX-11c Accounting feesManagement $8,256$8,256
IX-11f Investment management feesManagement $14,263$14,263
IX-12 Advertising and promotionManagement $10 · Fundraising $1,652$1,662
IX-13 Office expensesManagement $2,625 · Fundraising $2,863$5,488
IX-14 Information technologyManagement $4,528 · Fundraising $1,499$6,027
IX-17 TravelFundraising $5,982$5,982
IX-23 InsuranceManagement $2,697$2,697
IX-24 Other expenses (24a–d)Programs −$21,780−$21,780
IX-25 Total functional expensesPrograms $0 · Management $55,337 · Fundraising $70,796$126,133
Part X · Balance sheet $3,822,211 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $249,129$310,569
X-3 Pledges and grants receivableStart of year $190,381$185,500
X-10c Land, buildings and equipment, netStart of year $1,463,810$1,485,590
X-11 Publicly traded securitiesStart of year $2,032,149$1,840,552
X-16 Total assetsStart of year $3,935,469$3,822,211
X-17 Accounts payable and accrued expensesStart of year $4,277$3,249
X-26 Total liabilitiesStart of year $19,227$3,249
X-32 Total net assets or fund balancesStart of year $3,916,242$3,818,962
X-33 Total liabilities and net assetsStart of year $3,935,469$3,822,211
Part XI · Reconciliation of net assets $3,818,962 net assets at year end
XI-1 Total revenue$380,957
XI-2 Total expenses$126,133
XI-3 Revenue less expenses$254,824
XI-4 Net assets at start of year$3,916,242
XI-5 Net unrealized gains (losses) on investments−$352,104
XI-10 Net assets at end of year$3,818,962

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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