Studio Group Incorporated: FY2023 Nonprofit Profile & 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

75 cents of each dollar spent went to programs.

75%

25%

Program services 75% · $40K Management & general 25% · $13K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation

Shirley Rigby

President

$0Pt VII · Sec A

Betsy Greer

Vice President

$0Pt VII · Sec A

Catherine Bosk

Asst Treasurer

$0Pt VII · Sec A

Anna Bellenger

Treasurer

$0Pt VII · Sec A

Bonnie Frawley

Recording Secretary

$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 · $34K · in their own filed words · FY2022

01

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

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 51-6015694) · Dispute this line

$28Kprogram expense

02

Community sponsored art exhibits

Form 990 Part III, line 4, FY2022. 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 FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$42K

Ln 12

Gifts and grantsLn 1h$21K

Fees for servicesLn 2g$12K

Other incomeLn 4–11$5K

Money outPt IX

$53K

Ln 25

Programscol B$40K

Managementcol C$13K

Owns and owesPt X

$361K

net assets · Ln 32

Cash and savingsLn 1–2$9K

Total assetsLn 16$361K

LiabilitiesLn 26$300

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a28

IndependentVI 1b28

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$21K

Fees for servicesLn 2g$12K

Investment incomeLn 3$4K

Other incomeLn 4–11$5K

Total revenueLn 12$42K

Assets in detailPt X, end of year

CashLn 1$9K

Cash and savings togetherLn 1–2$9K

Land, buildings, equipmentLn 10c$108K

InvestmentsLn 11–13$243K

Total assetsLn 16$361K

LiabilitiesLn 26$300

Net assetsLn 32$361K

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 FY23	End FY23
Cash and savingsLn 1–2	$9K	$9K
InvestmentsLn 11–13	$253K	$243K
Land, buildings, equipmentLn 10c	$108K	$108K
Total assetsLn 16	$371K	$361K
LiabilitiesLn 26	$300	$300
Net assetsLn 32	$371K	$361K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$945	$0	$945	$0
Office expensesLn 13	$179	$0	$179	$0
OccupancyLn 16	$38K	$28K	$10K	$0
Depreciation, depletion and amortizationLn 22	$0	$0	$0	$0
InsuranceLn 23	$2K	$0	$2K	$0
Other expenses (24a–d)Ln 24	$4K	$4K	$0	$0
All other expensesLn 24e	$8K	$7K	$397	$0
Total functional expensesLn 25	$53K	$40K	$13K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled 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
FY2023 ViewingFiled 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 FY2023 990

Part I · Summary $41,537 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $57,002$21,300

I-9 Program service revenuePrior year $5,479$11,519

I-10 Investment incomePrior year $28,087$3,555

I-11 Other revenuePrior year $1,000$5,163

I-12 Total revenuePrior year $91,568$41,537

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 $54,182$53,236

I-18 Total expensesPrior year $54,182$53,236

I-19 Revenue less expensesPrior year $37,386−$11,699

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 $41,537 across 8 lines filed

VIII-1b Membership dues$9,370

VIII-1f All other contributions, gifts and grants$11,930

VIII-1h Total contributions, gifts and grants$21,300

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$11,519

VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$3,555

VIII-6 Net rental income or lossRelated to mission $5,000$5,000

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $163$163

VIII-12 Total revenueRelated to mission $20,074 · Unrelated business $0 · Excluded from tax $163$41,537

Part IX · Statement of functional expenses $53,236 across 7 lines filed

IX-11c Accounting feesPrograms $0 · Management $945 · Fundraising $0$945

IX-13 Office expensesPrograms $0 · Management $179 · Fundraising $0$179

IX-16 OccupancyPrograms $28,356 · Management $10,134 · Fundraising $0$38,490

IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$0

IX-23 InsurancePrograms $0 · Management $1,800 · Fundraising $0$1,800

IX-24 Other expenses (24a–d)Programs $3,941 · Management $0 · Fundraising $0$3,941

IX-24e All other expensesPrograms $7,484 · Management $397 · Fundraising $0$7,881

IX-25 Total functional expensesPrograms $39,781 · Management $13,455 · Fundraising $0$53,236

Part X · Balance sheet $361,372 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $9,468$9,448

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

X-11 Publicly traded securitiesStart of year $208,793$199,119

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

X-16 Total assetsStart of year $371,066$361,372

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 $370,766$361,072

X-32 Total net assets or fund balancesStart of year $370,766$361,072

X-33 Total liabilities and net assetsStart of year $371,066$361,372

Part XI · Reconciliation of net assets $361,072 net assets at year end

XI-1 Total revenue$41,537

XI-2 Total expenses$53,236

XI-3 Revenue less expenses−$11,699

XI-4 Net assets at start of year$370,766

XI-5 Net unrealized gains (losses) on investments$2,005

XI-10 Net assets at end of year$361,072

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

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Studio Group Incorporated FY2023 filing

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