Civic Intelligence

Artspace Inc.

990 • Fiscal year 2014 • EIN 04-2986718

Jan 01, 2014 to Dec 31, 2014 • Filed on May 15, 2015

Organization Profilewwww.artspacemaynard.com
63 Summer StreetMaynard, MA 01754

(978) 897-9828

Siviq Scores

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

Liabilities / Assets

68th percentile

0.03x

Higher debt load relative to assets than 68% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

76th percentile

0.05x

Higher debt load relative to revenue than 76% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

75th percentile

18%

Higher net margin than 75% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

97th percentile

$85,400

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 33.4% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

64th percentile

11%

Faster asset growth than 64% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

53rd percentile

3.2%

Faster revenue growth than 53% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$451,704

Up $45,893 (+11%) from 2013

Net Assets

Up

$437,805

Up $46,361 (+12%) from 2013

Liabilities

Down

$13,899

Down $468 (-3.3%) from 2013

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin75th percentile

Revenue

Up

$255,475

Up $8,028 (+3.2%) from 2013

Expenses

Down

$209,114

Down $38,435 (-16%) from 2013

Net Income

Up

$46,361

Up $46,463 (+45552%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth64th percentile

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

$600K$400K$200K$0Assets 2010: $317,550Liabilities 2010: $14,918Net Assets 2010: $302,6322010Assets 2011: $358,574Liabilities 2011: $15,101Net Assets 2011: $343,4732011Assets 2012: $405,981Liabilities 2012: $14,435Net Assets 2012: $391,5462012Assets 2013: $405,811Liabilities 2013: $14,367Net Assets 2013: $391,4442013Assets 2014: $451,704Liabilities 2014: $13,899Net Assets 2014: $437,8052014Assets 2015: $442,904Liabilities 2015: $15,251Net Assets 2015: $427,6532015Assets 2016: $417,936Liabilities 2016: $14,263Net Assets 2016: $403,6732016Assets 2017: $392,350Liabilities 2017: $15,199Net Assets 2017: $377,1512017Assets 2018: $408,641Liabilities 2018: $17,869Net Assets 2018: $390,7722018Assets 2019: $465,997Liabilities 2019: $17,869Net Assets 2019: $448,1282019Assets 2020: $449,267Liabilities 2020: $39,389Net Assets 2020: $409,8782020Assets 2021: $304,805Liabilities 2021: $17,946Net Assets 2021: $286,8592021Assets 2022: $206,340Liabilities 2022: $144,223Net Assets 2022: $62,1172022Assets 2023: $119,825Liabilities 2023: $44,847Net Assets 2023: $74,9782023Assets 2024: $28,686Liabilities 2024: $0Net Assets 2024: $28,6862024

Highlighted filing

2014

Assets$451,704
Liabilities$13,899
Net Assets$437,805
Open 2014 Filing

Operations Trend

Revenue Growth53rd percentile

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

$1.0M$500K$0-$500KExpenses 2010: $214,3812010Expenses 2011: $205,2392011Expenses 2012: $194,4852012Revenue 2013: $247,447Expenses 2013: $247,549Net Income 2013: -$1022013Revenue 2014: $255,475Expenses 2014: $209,114Net Income 2014: $46,3612014Revenue 2015: $259,060Expenses 2015: $269,212Net Income 2015: -$10,1522015Revenue 2016: $271,995Expenses 2016: $295,975Net Income 2016: -$23,9802016Revenue 2017: $280,404Expenses 2017: $306,926Net Income 2017: -$26,5222017Revenue 2018: $327,743Expenses 2018: $314,122Net Income 2018: $13,6212018Revenue 2019: $331,406Expenses 2019: $282,050Net Income 2019: $49,3562019Revenue 2020: $310,886Expenses 2020: $349,136Net Income 2020: -$38,2502020Revenue 2021: $291,785Expenses 2021: $414,804Net Income 2021: -$123,0192021Revenue 2022: $437,967Expenses 2022: $662,709Net Income 2022: -$224,7422022Revenue 2023: $347,306Expenses 2023: $225,840Net Income 2023: $121,4662023Revenue 2024: $256,628Expenses 2024: $302,920Net Income 2024: -$46,2922024

Highlighted filing

2014

Revenue$255,475
Expenses$209,114
Net Income$46,361
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 15, 2015
Return Version
2014v5.0
Gross Receipts
$255,475
Mission and Program Overview

Mission

Promotion the arts by leasing real estate and sub-leasing it to performing artists for studio and performace space at below market rental levels and to provide arts education classes, workshops, tours and similar activities.

Promotion the arts by leasing real estate and sub-leasing it to performing artists for studio and performace space at below market rental levels and to provide arts education classes, workshops, tours and smimilar activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$240,391$292,221▲ $51,830
Land, Buildings, and Equipment, Net$165,420$159,483▼ $5,937
Total Assets$405,811$451,704▲ $45,893
Liabilities
Other Liabilities$14,367$13,899▼ $468
Total Liabilities$14,367$13,899▼ $468
Net Assets / Fund Balance
Unrestricted Net Assets$391,444$437,805▲ $46,361
Total Net Assets Fund Balance$391,444$437,805▲ $46,361
Total Liabilities and Net Assets / Fund Balance$405,811$451,704▲ $45,893

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$159,483$78,260$237,743
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleBaseOtherTotal
Jero NessonFormer President$81,236$4,164$85,400

Board Members and Trustees

NameTitle
Frederich VonkrusenstiernDirector
John SloanDirector
Teil SilversteinDirector
Marie Paquet NessonClerk
Frederick a BatstonePast Treasurer & Current Pres
Revenue and Support

Revenue Composition

Contributions and Grants
$1,050
Program Service Revenue
$245,620
Investment Income
$264
Other Revenue
$8,541
All Other Contributions
$1,050
Change in Net Assets
$46,361
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$117,314
Salaries, Compensation, and Employee Benefits$91,800
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$81,236--$81,236
All Other Expenses$10,361--$10,361
Payroll Taxes$6,400--$6,400
Insurance$6,111--$6,111
Depreciation Depletion$5,937--$5,937
Other Employee Benefits$4,164--$4,164
Fees for Services Accounting$3,340--$3,340
Other Expenses$2,170--$2,170
Office Expenses$2,156--$2,156
Advertising$915--$915
Occupancy$1--$1
Total Functional Expenses$209,114$0$0$209,114
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits$13,899
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“Jero Nesson (past president and founder) and Marie Paquet Nesson ( past clerk and founder) are married. Both officers left the organization on December 31, 2014.”

Committee meeting documentation Part VI line 8B

“No committee has the authority to act on behalf of the governing body.”

Form 990 governing body review Part VI line 11

“Two weeks before filing, a copy of the 990 for is given to each board of directors for review and discussion.”

Conflict of interest policy compliance Part VI line 12C

“Once per year all directors and officers provide a signed statement confirming that they are in compliance with the conflict of interest policy.”

CEO executive director top management comp Part VI line 15A

“The board of directors establishes the compensation of the organization's president. The board of directors establishes this compensation package within the range or organizations similar in size and scope of ArtSpace Inc.”

Governing documents etc available to public Part VI line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public, upon request, at the organization's office.”

Filing and Contact Details

Filer

Filer Name
Artspace Inc
EIN
04-2986718
Address
63 SUMMER STREET, MAYNARD, MA 01754

Signing Officer

Name
Frederick a Batstone
Title
President
Phone
9788979828
Signed
2015-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frederick a Batstone
Formed
1987
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
9

Preparer

Firm
John M Monticone CPA
Address
5 High Street Suite 207, Medford, MA 02155
Preparer
John M Monticone CPA
Phone
7813950024
Supplemental Narrative

Financial Statement Notes

Footnote for uncertain tax position under FIN 48 (Part X)

“The organization's management has evaluated the tax positions taken on returns for open years and those expected to be taken on returns for the year ended December 31, 2014. It is management's belief that such tax positions are more likely than not to be sustained upon examination by tax authorities. Accordingly, no liability for uncertain tax positions has been reflected in these financial statements. Returns for tax years beginning with those filed for the year ended December 31, 2011 are open to examination.”

Raw XML Appendix381 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0354
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0524
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt01787
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00210
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99850
IRS990ScheduleA/PublicSupportPY509Pct00.99790
IRS990ScheduleA/PublicSupportTotal509Amt01228848
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0255211
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0247177
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0238819
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0245726
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0241915
IRS990ScheduleA/Total509Grp/TotalAmt01228848
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0255475
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0247447
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0239194
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0246080
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0242439
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01230635
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0159483
IRS990ScheduleD/BuildingsGrp/DepreciationAmt078260
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0237743
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt013899
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Security Deposits
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The organization's management has evaluated the tax positions taken on returns for open years and those expected to be taken on returns for the year ended December 31, 2014. It is management's belief that such tax positions are more likely than not to be sustained upon examination by tax authorities. Accordingly, no liability for uncertain tax positions has been reflected in these financial statements. Returns for tax years beginning with those filed for the year ended December 31, 2011 are open to examination.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Footnote for uncertain tax position under FIN 48 (Part X)
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0159483
IRS990ScheduleD/TotalLiabilityAmt013899
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Jero Nesson (past president and founder) and Marie Paquet Nesson ( past clerk and founder) are married. Both officers left the organization on December 31, 2014.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No committee has the authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Two weeks before filing, a copy of the 990 for is given to each board of directors for review and discussion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ONCE PER YEAR ALL DIRECTORS AND OFFICERS PROVIDE A SIGNED STATEMENT CONFIRMING THAT THEY ARE IN COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The board of directors establishes the compensation of the organization's president. The board of directors establishes this compensation package within the range or organizations similar in size and scope of ArtSpace Inc.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The organization makes its governing documents, conflict of interest policy and financial statements available to the public, upon request, at the organization's office.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0405811
IRS990/TotalAssetsEOYAmt0451704
IRS990/TotalAssetsGrp/BOYAmt0405811
IRS990/TotalAssetsGrp/EOYAmt0451704
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01050
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0209114
IRS990/TotalFunctionalExpensesGrp/TotalAmt0209114
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014367
IRS990/TotalLiabilitiesEOYAmt013899
IRS990/TotalLiabilitiesGrp/BOYAmt014367
IRS990/TotalLiabilitiesGrp/EOYAmt013899
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0391444
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0437805
IRS990/TotalOtherCompensationAmt04164
IRS990/TotalProgramServiceExpensesAmt0209114
IRS990/TotalProgramServiceRevenueAmt0245620
IRS990/TotalReportableCompFromOrgAmt081236
IRS990/TotalRevenueGrp/ExclusionAmt0264
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0254161
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0255475
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0405811
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0451704
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0391444
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0437805
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0wwww.artspacemaynard.com
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FREDERICK A BATSTONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum09788979828
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARTSPACE INC
ReturnHeader/Filer/BusinessNameControlTxt0ARTS
ReturnHeader/Filer/EIN0042986718
ReturnHeader/Filer/USAddress/AddressLine1Txt063 SUMMER STREET
ReturnHeader/Filer/USAddress/CityNm0MAYNARD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001754
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042666565
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0John M Monticone CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05 High Street Suite 207
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Medford
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd002155
ReturnHeader/PreparerPersonGrp/PhoneNum07813950024
ReturnHeader/PreparerPersonGrp/PreparationDt02015-04-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0John M Monticone CPA
ReturnHeader/ReturnTs02015-04-27T13:15:59-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$451,704
Liabilities
$13,899
Net assets
$437,805
Revenue
$255,475
Expenses
$209,114
Net income
$46,361
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$2.57$3.03$0.46
2023Detailed filing. Detailed filing data is available for this year.$1.20$0.45$0.75$3.47$2.26$1.21
2022Detailed filing. Detailed filing data is available for this year.$2.06$1.44$0.62$4.38$6.63$2.25
2021Detailed filing. Detailed filing data is available for this year.$3.05$0.18$2.87$2.92$4.15$1.23
2020Detailed filing. Detailed filing data is available for this year.$4.49$0.39$4.10$3.11$3.49$0.38
2019Detailed filing. Detailed filing data is available for this year.$4.66$0.18$4.48$3.31$2.82$0.49
2018Detailed filing. Detailed filing data is available for this year.$4.09$0.18$3.91$3.28$3.14$0.14
2017Detailed filing. Detailed filing data is available for this year.$3.92$0.15$3.77$2.80$3.07$0.27
2016Detailed filing. Detailed filing data is available for this year.$4.18$0.14$4.04$2.72$2.96$0.24
2015Detailed filing. Detailed filing data is available for this year.$4.43$0.15$4.28$2.59$2.69$0.10
2014Detailed filing. Detailed filing data is available for this year.$4.52$0.14$4.38$2.55$2.09$0.46
2013Detailed filing. Detailed filing data is available for this year.$4.06$0.14$3.91$2.47$2.48$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.06$0.14$3.92$1.94
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.59$0.15$3.43$2.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.18$0.15$3.03$2.14