Professional Artistic Research Projects EIN 47-1305368

Professional Artistic Research Projects

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Offers arts workshops, classes, and exhibits to empower diverse communities and foster career development. For fiscal year 2024 it reported $266K in revenue, $277K in expenses, and $1.7M in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Cincinnati, OH
Website
www.parprojects.com
Filings
4 on file (2021–2024)
Revenue
$266KFY2024
Expenses
$277K
Net assets
$1.7M
People
11
Filings
4
Updates
0
More identity details & actions ⌄
EIN  47-1305368 Public charity (501(c)(3)) Cincinnati, OH
Form 990 (PDF)
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Size
$100K–1M
What they do
Offers arts workshops, classes, and exhibits to empower diverse communities and foster career development.
Leadership
Jonathan Sears · Executive Director · $42K
Money in and out
$266K revenue, $277K expenses
Bottom line
98% program efficiency
Where the money goes · FY2024
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$277K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$11K
Where spending went · Part IX cols B–D
Program services $0.98 Management & general $0.02
Program efficiency
98%
of spending reaches programs-0.2% vs prior filing year
Operating runway
1.9mo
months of highly liquid reserves at operating expense rate▼ -14% vs prior filing year
Surplus margin
-4%
revenue over expenses, this year▼ -135% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$266K
FY2024▼ -30%
Expenses
$277K
FY2024▼ -18%
Total assets
$1.8M
FY2024▲ +3%
Total liabilities
$96K
FY2024▼ -2%
Total revenue
$266K
Pt VIII · Ln 12
Total expenses
$277K
Pt IX · Ln 25
Net assets
$1.7M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$11K
Total assetsPt X · Ln 16$1.8M
Program-expense ratioPt IX · col B98%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 46
Mission & Programs · Part III

Where the work happens

3 program services account for $248K of program spending, described in the organization's own filed words · FY2024.
01

Arts and Exhibition Facilities

We create space for artists to collaborate and engage with community, while expanding their social and professional networks. This is accomplished via the creation of pop-up (temporary) galleries and the ongoing renovation & expansion of our creative campus, locate in Northside, Cincinnati.

$158Kprogram expense
02

Visiting Artist and Education Program

We create educational opportunities that benefit our communities, as well as artists of the region. As we are still adjusting from the COVID 19 lockdown, our primary expenses of this program were related to planning and equipment purchases, as we look to begin our full relaunch during the 2025/2026 school year.

$48Kprogram expense
03

Collaborations & Community Engagement Programming

We create opportunities for collaborative projects to help support fellow nonprofits, working artists, and partnering businesses looking to give back to the community. These often present themselves as fine art exhibitions, pop-up (temporary) experiences, art markets, and shared experiences & festivals.

$42Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CProfessional Artistic Research Projects
EINHdr · item D47-1305368
Principal addressHdr · item CCincinnati, OH
WebsiteHdr · item Jwww.parprojects.com
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A25)
Ruling yearIRS BMFOct 2015

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
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
Executive Director
$42,000Pt VII · Sec A
Arts & Programming Coordinator
$38,279Pt VII · Sec A
Campaign & Development Manager
$13,350Pt VII · Sec A
Design Intern
$7,986Pt VII · Sec A
President of the Board
$0Pt VII · Sec A
Vice President of the Board
$0Pt VII · Sec A
Secretary of the Board
$0Pt VII · Sec A
Treasurer of the Board
$0Pt VII · Sec A

Jonathan Sears’s $42K as Executive Director is at the 37th percentile of top reported officer pay among 2213 $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 · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Jonathan Sears$42,000$42,000$40,385$36,536
Gabrielle Roach$38,279$38,320$23,484
Alisha Budkie$13,350$24,000
Victoria Mullins$20,750$10,675
Mya Rhea$7,986
Henry Lindeman$544$3,262

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$250K · 94%
Other revenue$16K · 6%
Contributions & grants94%$250K
Other revenue6%$16K
Program service revenue$162
— government grantsLn 1e$20K
Total revenueLn 12$266K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.98 Management & general $0.02
Program services98%$272K
Management & general2%$5K
Total functional expensesLn 25$277K

Balance Sheet

Part X · end of year
CashLn 1$44K
Total assetsLn 16$1.8M
Total liabilitiesLn 26$96K
Total net assetsLn 32$1.7M
Months of cash on handcomputed1.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $44K · Operating expenses/yr $277K
1.9 months
Where the money goes
Program services
Program services $272K · Total expenses $277K
98%
Management & General
Management & general $5K · Total expenses $277K
2%
Fundraising
Fundraising $0 · Total expenses $277K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $2K · Solicited contributions (3-yr avg) $247K
$0.01 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $250K · Total revenue $266K
94%
Government reliance
Government grants $20K · Total revenue $266K
8%
Earned-income share
Program service revenue $162 · Total revenue $266K
0.06%
Investment reliance
Investment income $0 · Total revenue $266K
0%
Program self-sufficiency
Program service revenue $162 · Total expenses $277K
0.06%
Growth & trend
Revenue growth (YoY)
This year $266K · Prior year $381K
-30%
Net-asset trend (YoY)
End of year $1.7M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $266K · Expenses $277K
-4%
Liabilities-to-Assets
Total liabilities — · Total assets $1.8M
Net-asset ratio
Net assets $1.7M · Total assets $1.8M
95%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.8M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Jonathan Sears · Reported title Executive Director · Highest reported compensation $42K · Total expenses $277K
15%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $127K · Total expenses $277K
46%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 98%
Overhead ratio 2%
Fundraising cost ratio 0%
Revenue growth -30%
Investment management fee ratio 0%
Legal fee ratio 0.03%
Accounting fee ratio 0.3%
Fundraising fee ratio 0%

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 3 funders$142K
See all 3 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
FY2024 (Latest)$266K revenue · viewing · ⤓ 990 PDF
FY2023$381K revenue · ⤓ 990 PDF
FY2022$230K revenue · ⤓ 990 PDF
FY2021$222K 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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