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Bluseed Studios INC EIN 80-0030909

Bluseed Studios INC FY2020 filing

EIN  80-0030909 Public charity (501(c)(3)) Saranac Lake, NY Founded 2003
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →
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Size
<$100K
What they do
Promotes art and art education for all.
Leadership
Richard Burdt · Board Member
Money in and out
$95K revenue, $88K expenses
Bottom line
20% program efficiency

Promotes art and art education for all. For fiscal year 2020 it reported $95K in revenue, $88K in expenses, and $100K in net assets.Pt I

Where the money goes · FY2020
Total revenue
$95K
Pt VIII · Ln 12
Total expenses
$88K
Pt IX · Ln 25
Net assets
$100K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $7K
Where spending went · Part IX cols B–D
Program services $0.20 Management & general $0.80
Program efficiency
20%
of spending reaches programs
Operating runway
4.7mo
months of highly liquid reserves at operating expense rate
Surplus margin
+8%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$95K
FY2020
Expenses
$88K
FY2020
Total assets
$305K
FY2020
Total liabilities
$206K
FY2020
Total revenue
$95K
Pt VIII · Ln 12
Total expenses
$88K
Pt IX · Ln 25
Net assets
$100K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$7K
Total assetsPt X · Ln 16$305K
Program-expense ratioPt IX · col B20%
Voting members of governing bodyPt I · Ln 38
Independent voting membersPt I · Ln 48
Mission & Programs · Part III

Where the work happens

1 program service account for $17K of program spending, described in the organization's own filed words · FY2020.
01

To promote art and art education

$17Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CBluseed Studios INC
EINHdr · item D80-0030909
Principal addressHdr · item CSaranac Lake, NY
WebsiteHdr · item Jwww.bluseedstudios.org
Year of formationHdr · item L2003
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A90)
Ruling yearIRS BMFSep 2007

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a8
Independent voting membersPt VI · Ln 1b8
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
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
Richard Burdt
Board Member
$0Pt VII · Sec A
Megan Charland
Board Member
$0Pt VII · Sec A
George Cook
Board Member
$0Pt VII · Sec A
Christopher Covert
Vice Preside
$0Pt VII · Sec A
Sandra Hildreth
Board Member
$0Pt VII · Sec A
Mark Kurtz
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Susan Miller
Board Member
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$79K · 83%
Program service revenue$9K · 9%
Other revenue$7K · 7%
Contributions & grants83%$79K
Program service revenue9%$9K
Other revenue7%$7K
Investment income$3
— government grantsLn 1e$20K
Total revenueLn 12$95K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.20 Management & general $0.80
Program services20%$17K
Management & general80%$71K
Total functional expensesLn 25$88K

Balance Sheet

Part X · end of year
CashLn 1$34K
Total assetsLn 16$305K
Total liabilitiesLn 26$206K
Total net assetsLn 32$100K
Months of cash on handcomputed4.6

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $34K · Operating expenses (Pt IX) $88K · Less non-cash grants $2K · Cash operating expenses/yr $86K
4.7 months
Where the money goes
Program services
Program services $17K · Total expenses $88K
20%
Management & General
Management & general $71K · Total expenses $88K
80%
Fundraising
Fundraising $0 · Total expenses $88K
0%
Cost to raise $1
Fundraising expense $0 · Solicited contributions $59K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $79K · Total revenue $95K
83%
Government reliance
Government grants $20K · Total revenue $95K
21%
Earned-income share
Program service revenue $9K · Total revenue $95K
9%
Investment reliance
Investment income $3 · Total revenue $95K
<0.01%
Program self-sufficiency
Program service revenue $9K · Total expenses $88K
10%
Growth & trend
Revenue growth (YoY)
This year $95K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $100K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $95K · Expenses $88K
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $305K
—
Net-asset ratio
Net assets $100K · Total assets $305K
33%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $305K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Richard Burdt · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $88K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $14K · Total expenses $88K
16%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 20%——
Overhead ratio 80%——
Fundraising cost ratio 0%——
Accounting fee ratio 4%——

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
Paypal Charitable Giving FundFY2024$16K
Anantaa-Om FoundationFY2024$10K
Cloudslitter FoundationFY2024$6K
Glenn and Carol Pearsall Adirondack Foundation INCFY2024$2K
Total grants receivedfrom 4 funders$34K
See all 4 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
FY2025 (Latest)$53K revenue · ⤓ 990 PDF
FY2024$172K revenue · ⤓ 990 PDF
FY2023$115K revenue · ⤓ 990 PDF
FY2022$116K revenue · ⤓ 990 PDF
FY2021$90K revenue · ⤓ 990 PDF
FY2020$95K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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