Studio Group Incorporated: Nonprofit Profile, Financials & Form 990 (EIN 51-6015694)

Revenue by fiscal year
FY2021	$29K
FY2022	$92K
FY2023	$42K
FY2024	$15K
FY2025	$16K

Expenses by fiscal year
FY2021	$51K
FY2022	$54K
FY2023	$53K
FY2024	$20K
FY2025	$27K

Net assets by fiscal year
FY2021	$457K
FY2022	$371K
FY2023	$361K
FY2024	$332K
FY2025	$341K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1963.

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

Where the money goes

46 cents of each dollar spent went to programs.

46%

54%

Program services 46% · $12K Management & general 54% · $14K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation

Carol Mangano

President

$0Pt VII · Sec A

Betsy Greer

Building Vice President

$0Pt VII · Sec A

Shirley Rigby

Past President

$0Pt VII · Sec A

Bonita Frawley

Recording Secretary

$0Pt VII · Sec A

Geri Huxsoll

Corresponding Secretary

$0Pt VII · Sec A

Connie Wagner

Studio Treasurer

$0Pt VII · Sec A

Karen Delaney

Pyle Treasurer

$0Pt VII · Sec A

Diane Cannon

Finance

$0Pt VII · Sec A

See Studio Group Incorporated executive salaries →

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

Studio Group Incorporated is an arts and culture nonprofit based in Wilmington, DE.

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2 programs · $12K · in their own filed words · FY2024

01

Community sponsored art exhibits

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 51-6015694) · Dispute this line

$7Kprogram expense

02

Historical preservation of site housing artwork and tours provided by appointment. While promoting local are artists

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 51-6015694) · Dispute this line

$5Kprogram 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 · FY2021

Delaware Community Foundation INCFY2021$10K

Total grants receivedfrom 1 funder$10K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$16K

Ln 12

Gifts and grantsLn 1h$16K

Fees for servicesLn 2g$352

Money outPt IX

$27K

Ln 25

Programscol B$12K

Managementcol C$14K

Owns and owesPt X

$341K

net assets · Ln 32

Cash and savingsLn 1–2$15K

Total assetsLn 16$341K

LiabilitiesLn 26$300

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a28

IndependentVI 1b28

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$16K

Fees for servicesLn 2g$352

Total revenueLn 12$16K

Assets in detailPt X, end of year

CashLn 1$15K

Cash and savings togetherLn 1–2$15K

Land, buildings, equipmentLn 10c$108K

InvestmentsLn 11–13$217K

Total assetsLn 16$341K

LiabilitiesLn 26$300

Net assetsLn 32$341K

OperationsPt I, VI

EmployeesI 50

VolunteersI 67

Fiscal year endsHeaderApril

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$14K	$15K
InvestmentsLn 11–13	$210K	$217K
Land, buildings, equipmentLn 10c	$108K	$108K
Total assetsLn 16	$333K	$341K
LiabilitiesLn 26	$300	$300
Net assetsLn 32	$332K	$341K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$547		$547
Other fees for servicesLn 11g	$8K		$8K
Advertising and promotionLn 12	$1K	$1K
Office expensesLn 13	$282		$282
OccupancyLn 16	$6K		$6K
Other expenses (24a–d)Ln 24	$8K	$8K
All other expensesLn 24e	$3K	$3K
Total functional expensesLn 25	$27K	$12K	$14K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS Oct 14, 2025	$16K	$27K	−$11K	$341K	990 PDF
FY2024Filed with the IRS Oct 14, 2025	$15K	$20K	−$5K	$332K	990 PDF
FY2023Filed with the IRS Jun 9, 2023	$42K	$53K	−$12K	$361K	990 PDF
FY2022Filed with the IRS Oct 13, 2022	$92K	$54K	$37K	$371K	990 PDF
FY2021Filed with the IRS Jul 11, 2021	$29K	$51K	−$22K	$457K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2025 990

Part I · Summary $16,105 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $10,154$15,753

I-9 Program service revenuePrior year $254$352

I-10 Investment incomePrior year $4,514$0

I-11 Other revenue$0

I-12 Total revenuePrior year $14,922$16,105

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 $19,964$26,713

I-18 Total expensesPrior year $19,964$26,713

I-19 Revenue less expensesPrior year −$5,042−$10,608

Part VI · Governance 28 of 28 board members independent, 4 to look at

VI-1a Voting members of the governing body28

VI-1b Independent voting members28

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 $16,105 across 6 lines filed

VIII-1b Membership dues$11,318

VIII-1f All other contributions, gifts and grants$4,435

VIII-1h Total contributions, gifts and grants$15,753

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $352$352

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $352 · Unrelated business $0 · Excluded from tax $0$16,105

Part IX · Statement of functional expenses $26,713 across 7 lines filed

IX-11c Accounting feesManagement $547$547

IX-11g Other fees for servicesManagement $7,517$7,517

IX-12 Advertising and promotionPrograms $1,198$1,198

IX-13 Office expensesManagement $282$282

IX-16 OccupancyManagement $6,000$6,000

IX-24 Other expenses (24a–d)Programs $8,470$8,470

IX-24e All other expensesPrograms $2,699$2,699

IX-25 Total functional expensesPrograms $12,367 · Management $14,346 · Fundraising $0$26,713

Part X · Balance sheet $340,858 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $13,882$14,891

X-10c Land, buildings and equipment, netStart of year $108,478$108,478

X-11 Publicly traded securitiesStart of year $166,042$173,162

X-13 Program-related investmentsStart of year $44,327$44,327

X-16 Total assetsStart of year $332,729$340,858

X-25 Other liabilitiesStart of year $300$300

X-26 Total liabilitiesStart of year $300$300

X-27 Net assets without donor restrictionsStart of year $332,429$340,558

X-32 Total net assets or fund balancesStart of year $332,429$340,558

X-33 Total liabilities and net assetsStart of year $332,729$340,858

Part XI · Reconciliation of net assets $340,558 net assets at year end

XI-1 Total revenue$16,105

XI-2 Total expenses$26,713

XI-3 Revenue less expenses−$10,608

XI-4 Net assets at start of year$332,429

XI-5 Net unrealized gains (losses) on investments$18,737

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$340,558

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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Studio Group Incorporated

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Studio Group Incorporated

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV