Civic Intelligence

Latchis Arts Inc.

990 • Fiscal year 2020 • EIN 03-0231573

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 30, 2021

Organization ProfileWWW.LATCHIS.ORG
50 Main StreetBrattleboro, VT 05301

(802) 254-1109

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

62nd percentile

0.19x

Higher debt load relative to assets than 62% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

89th percentile

1.56x

Higher debt load relative to revenue than 89% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

48th percentile

4.3%

Higher net margin than 48% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

6th percentile

-15%

Faster asset growth than 6% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

77th percentile

23%

Faster revenue growth than 77% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets62nd percentile

Assets

Down

$1,166,742

Down $197,920 (-15%) from 2019

Net Assets

Down

$939,824

Down $192,155 (-17%) from 2019

Liabilities

Down

$226,918

Down $5,765 (-2.5%) from 2019

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin48th percentile

Revenue

Up

$145,425

Up $27,431 (+23%) from 2019

Expenses

Up

$139,125

Up $26,440 (+23%) from 2019

Net Income

Up

$6,300

Up $991 (+19%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2011: $1,752,526Liabilities 2011: $312,522Net Assets 2011: $1,440,0042011Assets 2012: $1,588,683Liabilities 2012: $315,298Net Assets 2012: $1,273,3852012Assets 2013: $1,827,173Liabilities 2013: $290,416Net Assets 2013: $1,536,7572013Assets 2014: $2,063,092Liabilities 2014: $281,590Net Assets 2014: $1,781,5022014Assets 2015: $1,864,628Liabilities 2015: $271,394Net Assets 2015: $1,593,2342015Assets 2016: $1,879,220Liabilities 2016: $262,659Net Assets 2016: $1,616,5612016Assets 2017: $1,667,645Liabilities 2017: $251,000Net Assets 2017: $1,416,6452017Assets 2018: $1,554,089Liabilities 2018: $243,875Net Assets 2018: $1,310,2142018Assets 2019: $1,364,662Liabilities 2019: $232,683Net Assets 2019: $1,131,9792019Assets 2020: $1,166,742Liabilities 2020: $226,918Net Assets 2020: $939,8242020Assets 2021: $1,259,053Liabilities 2021: $222,290Net Assets 2021: $1,036,7632021Assets 2022: $1,308,952Liabilities 2022: $215,047Net Assets 2022: $1,093,9052022Assets 2023: $1,307,535Liabilities 2023: $207,382Net Assets 2023: $1,100,1532023Assets 2024: $1,228,132Liabilities 2024: $203,323Net Assets 2024: $1,024,8092024Assets 2025: $1,091,869Liabilities 2025: $190,875Net Assets 2025: $900,9942025

Highlighted filing

2020

Assets$1,166,742
Liabilities$226,918
Net Assets$939,824
Open 2020 Filing

Operations Trend

Revenue Growth77th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$300K$200K$100K$0-$100KRevenue 2011: $131,699Expenses 2011: $113,589Net Income 2011: $18,1102011Revenue 2012: $206,641Expenses 2012: $130,611Net Income 2012: $76,0302012Revenue 2013: $346,069Expenses 2013: $82,697Net Income 2013: $263,3722013Revenue 2014: $332,341Expenses 2014: $114,411Net Income 2014: $217,9302014Revenue 2015: $71,624Expenses 2015: $104,889Net Income 2015: -$33,2652015Revenue 2016: $133,752Expenses 2016: $110,425Net Income 2016: $23,3272016Revenue 2017: $87,112Expenses 2017: $129,421Net Income 2017: -$42,3092017Revenue 2018: $88,364Expenses 2018: $129,192Net Income 2018: -$40,8282018Revenue 2019: $117,994Expenses 2019: $112,685Net Income 2019: $5,3092019Revenue 2020: $145,425Expenses 2020: $139,125Net Income 2020: $6,3002020Revenue 2021: $73,556Expenses 2021: $83,486Net Income 2021: -$9,9302021Revenue 2022: $103,735Expenses 2022: $97,477Net Income 2022: $6,2582022Revenue 2023: $278,340Expenses 2023: $191,366Net Income 2023: $86,9742023Revenue 2024: $249,172Expenses 2024: $161,818Net Income 2024: $87,3542024Revenue 2025: $188,359Expenses 2025: $203,767Net Income 2025: -$15,4082025

Highlighted filing

2020

Revenue$145,425
Expenses$139,125
Net Income$6,300
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 30, 2021
Return Version
2019v5.0
Gross Receipts
$145,891
Mission and Program Overview

Mission

Renovations of latchis theatre in brattleboro, vermont

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,092,784$898,304▼ $194,480
Intangible Assets$198,215$176,191▼ $22,024
Cash and Non-Interest-Bearing Accounts$27,456$47,305▲ $19,849
Other Notes and Loans Receivable, Net$10,000$25,000▲ $15,000
Savings and Temporary Cash Investments$26,790$10,299▼ $16,491
Accounts Receivable$8,818$9,204▲ $386
Land, Buildings, and Equipment, Net$599$439▼ $160
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,364,662$1,166,742▼ $197,920
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$232,683$226,831▼ $5,852
Accounts Payable and Accrued Expenses-$85-
Other Liabilities-$2-
Total Liabilities$232,683$226,918▼ $5,765
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,126,834$934,679▼ $192,155
Net Assets With Donor Restrictions$5,145$5,145→ $0
Total Net Assets Fund Balance$1,131,979$939,824▼ $192,155
Total Liabilities and Net Assets / Fund Balance$1,364,662$1,166,742▼ $197,920

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$439$4,593$5,032
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

NameTitle
Angela SnowPresident
Anne LatchisDirector
Cameron HagerDirector
Jennifer LathamDirector
Joey MorganDirector
Mary CopansDirector
Riley GoodemoteDirector
Sarah SwankDirector
Steve HeimDirector
Tony BaconDirector
Jonathan PotterExecutive Director
Chris HardeeVP & Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$62,317
Program Service Revenue
$78,093
Investment Income
$0
Other Revenue
$5,015
All Other Contributions
$62,317
Change in Net Assets
$6,300
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$105,278
Salaries, Compensation, and Employee Benefits$33,847
Total Fundraising Expense$2,338
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$31,147-$31,147
Depreciation Depletion-$22,184-$22,184
Interest-$8,017-$8,017
Fees for Services Accounting-$4,108-$4,108
Other Employee Benefits-$2,700-$2,700
Advertising$1,131$786-$1,917
All Other Expenses-$1,606$121$1,727
Other Expenses$189$1,386$2,217$1,575
Insurance-$1,243-$1,243
Travel$260$222-$482
Total Functional Expenses$53,897$82,890$2,338$139,125
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Rounding$2
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Form 990 is reviewed by the managing director”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Latchis Arts Inc
EIN
03-0231573
Phone
8022541109
Address
50 MAIN STREET, BRATTLEBORO, VT 05301

Signing Officer

Name
Angela Snow
Title
President
Signed
2021-04-30
Discuss with paid preparer
Yes

Organization Details

Formed
1997
Legal Domicile
Vt
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
23

Preparer

Firm
Downey Pieciak Fitzgerald & Co Pc
Address
10 PARK PLACE, BRATTLEBORO, VT 05301
Preparer
Joseph S Pieciak Jr CPA
Phone
8022571307
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

“Loss from subsidiary = -$198455”

Financial Statement Notes

Part X : FIN48 Footnote

“Management has analyzed its various federal and state income tax filings for the last three preceding years that remain open within the statute of limitations and they believe that Latchis' reported revenues and deductions are well documented and supported, and that no controversial or questionable income tax reporting positions have been taken regarding these filings. Consequently, management believes that there are no unasserted tax liabilities, interest or penalties related to these filings and, accordingly, has made no provision for contingent income tax liabilities.”

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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0226831
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IRS990/NetAssetsOrFundBalancesEOYAmt0939824
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IRS990/NetIncomeOrLossGrp/ExclusionAmt0-235
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0-235
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt05250
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt05250
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01126834
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0934679
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0-198455
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02700
IRS990/OtherEmployeeBenefitsGrp/TotalAmt02700
IRS990/OtherExpensesGrp/Desc0EVENTS EXPENSE
IRS990/OtherExpensesGrp/Desc1CONSULTING
IRS990/OtherExpensesGrp/Desc2APPEAL EXPENSES
IRS990/OtherExpensesGrp/Desc3SUPPLIES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt05041
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14450
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21386
IRS990/OtherExpensesGrp/ProgramServicesAmt052317
IRS990/OtherExpensesGrp/ProgramServicesAmt1189
IRS990/OtherExpensesGrp/TotalAmt057358
IRS990/OtherExpensesGrp/TotalAmt14450
IRS990/OtherExpensesGrp/TotalAmt22217
IRS990/OtherExpensesGrp/TotalAmt31575
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt031147
IRS990/OtherSalariesAndWagesGrp/TotalAmt031147
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt010000
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt025000
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc2OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc3PRODUCED EVENTS
IRS990/ProgramServiceRevenueGrp/Desc4SPECIAL PROJECT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt014160
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11588
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2644
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt357450
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt44251
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11588
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2644
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt357450
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt44251
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt0105631
IRS990/PYOtherRevenueAmt05609
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IRS990/PYRevenuesLessExpensesAmt05309
IRS990/PYSalariesCompEmpBnftPaidAmt07054
IRS990/PYTotalExpensesAmt0112685
IRS990/PYTotalRevenueAmt0117994
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt06300
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt05250
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt026790
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010299
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt053189
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt037381
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt085928
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0295809
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt072
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt069
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt010741
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.96500
IRS990ScheduleA/PublicSupportPY170Pct00.93790
IRS990ScheduleA/PublicSupportTotal170Amt0295809
IRS990ScheduleA/SubstantialContributorsTotAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt056994
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt037381
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt085928
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0295809
IRS990ScheduleA/TotalSupportAmt0306550
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt0439
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04593
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05032
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Rounding
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Management has analyzed its various federal and state income tax filings for the last three preceding years that remain open within the statute of limitations and they believe that Latchis' reported revenues and deductions are well documented and supported, and that no controversial or questionable income tax reporting positions have been taken regarding these filings. Consequently, management believes that there are no unasserted tax liabilities, interest or penalties related to these filings and, accordingly, has made no provision for contingent income tax liabilities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0439
IRS990ScheduleD/TotalBookValueSecuritiesAmt0898304
IRS990ScheduleD/TotalLiabilityAmt02
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS REVIEWED BY THE MANAGING DIRECTOR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2LOSS FROM SUBSIDIARY = -$198455
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990ScheduleR/AssetExchangeInd0false

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,166,742
Liabilities
$226,918
Net assets
$939,824
Revenue
$145,425
Expenses
$139,125
Net income
$6,300
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.09$0.19$0.90$0.19$0.20$0.02
2024Detailed filing. Detailed filing data is available for this year.$1.23$0.20$1.02$0.25$0.16$0.09
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.21$1.10$0.28$0.19$0.09
2022Detailed filing. Detailed filing data is available for this year.$1.31$0.22$1.09$0.10$0.10$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.26$0.22$1.04$0.07$0.08$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.17$0.23$0.94$0.15$0.14$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.36$0.23$1.13$0.12$0.11$0.01
2018Detailed filing. Detailed filing data is available for this year.$1.55$0.24$1.31$0.09$0.13$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.67$0.25$1.42$0.09$0.13$0.04
2016Detailed filing. Detailed filing data is available for this year.$1.88$0.26$1.62$0.13$0.11$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.86$0.27$1.59$0.07$0.10$0.03
2014Detailed filing. Detailed filing data is available for this year.$2.06$0.28$1.78$0.33$0.11$0.22
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$0.29$1.54$0.35$0.08$0.26
2012Summary only. Only limited summary data is available for this year.$1.59$0.32$1.27$0.21$0.13$0.08
2011Summary only. Only limited summary data is available for this year.$1.75$0.31$1.44$0.13$0.11$0.02