Civic Intelligence

South Shore Arts Inc.

990 • Fiscal year 2017 • EIN 23-7049722

Jul 01, 2016 to Jun 30, 2017 • Filed on Jan 23, 2018

1040 Ridge RoadMunster, IN 46321

(219) 933-0200

Siviq Scores

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

Liabilities / Assets

52nd percentile

0.10x

Higher debt load relative to assets than 52% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

65th percentile

0.22x

Higher debt load relative to revenue than 65% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

19th percentile

-12%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

81st percentile

$139,238

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 11.5% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

39th percentile

0.0%

Faster asset growth than 39% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

20th percentile

-9.6%

Faster revenue growth than 20% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$2,577,707

Up $80 (+0.0%) from 2016

Net Assets

Down

$2,310,125

Down $281 (-0.0%) from 2016

Liabilities

Up

$267,582

Up $361 (+0.1%) from 2016

Revenue

Down

$1,215,912

Down $129,554 (-9.6%) from 2016

Expenses

Down

$1,361,742

Down $108,753 (-7.4%) from 2016

Net Income

Down

-$145,830

Down $20,801 (-17%) from 2016

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2012: $2,631,841Liabilities 2012: $173,119Net Assets 2012: $2,458,7222012Assets 2013: $2,780,839Liabilities 2013: $165,540Net Assets 2013: $2,615,2992013Assets 2014: $2,907,781Liabilities 2014: $157,904Net Assets 2014: $2,749,8772014Assets 2015: $2,766,018Liabilities 2015: $274,488Net Assets 2015: $2,491,5302015Assets 2016: $2,577,627Liabilities 2016: $267,221Net Assets 2016: $2,310,4062016Assets 2017: $2,577,707Liabilities 2017: $267,582Net Assets 2017: $2,310,1252017Assets 2018: $2,501,752Liabilities 2018: $252,567Net Assets 2018: $2,249,1852018Assets 2019: $2,320,133Liabilities 2019: $190,021Net Assets 2019: $2,130,1122019Assets 2020: $2,300,294Liabilities 2020: $285,676Net Assets 2020: $2,014,6182020Assets 2021: $2,698,401Liabilities 2021: $199,006Net Assets 2021: $2,499,3952021Assets 2022: $2,356,106Liabilities 2022: $82,299Net Assets 2022: $2,273,8072022Assets 2023: $2,400,434Liabilities 2023: $82,732Net Assets 2023: $2,317,7022023Assets 2024: $1,212,939Liabilities 2024: $107,043Net Assets 2024: $1,105,8962024

Highlighted filing

2017

Assets$2,577,707
Liabilities$267,582
Net Assets$2,310,125

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $1,307,8222012Expenses 2013: $1,346,8862013Revenue 2014: $1,397,160Expenses 2014: $1,420,118Net Income 2014: -$22,9582014Revenue 2015: $1,394,003Expenses 2015: $1,544,228Net Income 2015: -$150,2252015Revenue 2016: $1,345,466Expenses 2016: $1,470,495Net Income 2016: -$125,0292016Revenue 2017: $1,215,912Expenses 2017: $1,361,742Net Income 2017: -$145,8302017Revenue 2018: $1,304,229Expenses 2018: $1,386,184Net Income 2018: -$81,9552018Revenue 2019: $1,275,652Expenses 2019: $1,387,252Net Income 2019: -$111,6002019Revenue 2020: $1,054,118Expenses 2020: $1,075,213Net Income 2020: -$21,0952020Revenue 2021: $657,189Expenses 2021: $588,753Net Income 2021: $68,4362021Revenue 2022: $1,276,696Expenses 2022: $726,484Net Income 2022: $550,2122022Revenue 2023: $617,894Expenses 2023: $793,098Net Income 2023: -$175,2042023Revenue 2024: $903,577Expenses 2024: $1,026,733Net Income 2024: -$123,1562024

Highlighted filing

2017

Revenue$1,215,912
Expenses$1,361,742
Net Income-$145,830
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Jan 23, 2018
Return Version
2016v3.1
Gross Receipts
$1,395,620
Mission and Program Overview

Mission

PROMOTION OF THE ARTS

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$2,112,820$2,143,546▲ $30,726
Accounts Receivable$118,401$106,134▼ $12,267
Investments in Publicly Traded Securities$53,642$75,748▲ $22,106
Savings and Temporary Cash Investments$88,924$44,657▼ $44,267
Inventories for Sale or Use$41,120$40,361▼ $759
Prepaid Expenses and Deferred Charges$27,728$19,493▼ $8,235
Land, Buildings, and Equipment, Net$23,640$18,136▼ $5,504
Total Assets$2,577,627$2,577,707▲ $80
Other Assets Total$111,352$129,632▲ $18,280
Liabilities
Accounts Payable and Accrued Expenses$90,532$93,340▲ $2,808
Deferred Revenue$90,729$89,106▼ $1,623
Mortgage Notes Payable Secured by Investment Property$75,000$75,000→ $0
Other Liabilities$10,960$10,136▼ $824
Total Liabilities$267,221$267,582▲ $361
Net Assets / Fund Balance
Permanently Rstr Net Assets$1,097,541$1,132,161▲ $34,620
Temporarily Rstr Net Assets$778,182$733,299▼ $44,883
Unrestricted Net Assets$434,683$444,665▲ $9,982
Total Net Assets Fund Balance$2,310,406$2,310,125▼ $281
Total Liabilities and Net Assets / Fund Balance$2,577,627$2,577,707▲ $80

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$15,328$157,192$172,520
Leasehold Improvements$2,159$158,762$160,921
Other Land Buildings$649$250$899
Other Assets Org$60,825--
Other Securities$18,926--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$2,166,462$47,620▲ $234,147-$2,219,295
2015$2,348,730$26,582▲ $6,359-$2,166,462
2014$2,401,371$32,000▼ $54,155-$2,323,366
2013$2,378,398$57,692▲ $224,027-$2,401,371
2012$2,098,845$174,386▲ $292,317-$2,378,398
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Patricia HernandezDirector MarPT$126,281$12,957$139,238
John CainExecutive DiPT$121,181$13,301$134,482

Board Members and Trustees

NameTitle
William LowePresident
Adedoyin GomihDirector
Amy KoufosDirector
Andy ArnoldDirector
Carol Green-fraleyDirector
Cherie RippeyDirector
Connie SkozenDirector
Corey HechtDirector
Denise DillardDirector
Gaustavo GalanteDirector
Heather LevinDirector
Heather MccarthyDirector
Julia KwaitDirector
KATHY O'DONNELLDirector
Karen MaravillaDirector
Liz ValavanisDirector
Marcia GlarosDirector
Pamela SeamanDirector
Pat ColanderDirector
Susan GriffinDirector
Tom KeilmanDirector
Viraj PatelDirector
David MikaPast Preside
Karen RaabPesident Ele
Carly BrandenburgSecretary
Tim AndersonTreasurer
Danette GarzaVP Administr
Karen LauermanVP Developme
David SchneiderVP Education
Jenny YalowitzVP Exhibits
Sandi KozlowskiVP Exhibits
Jeremey WillettVP Governanc
Judith MayerVP Marketing
Irene Smith-kingVP Regional
Melissa NeffVP Symphony
Michael Luongo MdVP Symphony
Revenue and Support

Revenue Composition

Contributions and Grants
$631,771
Program Service Revenue
$350,428
Investment Income
$62,271
Other Revenue
$171,442
All Other Contributions
$366,030
Change in Net Assets
$-145,830

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table4$38,566
Total Noncash Contributions4$38,566

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,215,912
Revenue Not Reported on Form 990
$325,294
Total Revenue per Audited Statements
$1,541,206
Total Revenue per Form 990
$1,215,912
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$616,534
Other Expenses$498,847
Grants and Similar Amounts Paid$246,361
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$319,329$98,890-$418,219
Grants to Domestic Orgs$246,361--$246,361
Fees for Services Other$114,453$16,405-$130,858
Other Employee Benefits$82,473$24,276-$106,749
Current Officers, Directors, Trustees, and Key Employees$82,409$9,157-$91,566
Occupancy$67,475$15,591-$83,066
Advertising$29,485$22,927-$52,412
All Other Expenses$20,849$17,314-$38,163
Fees for Service Investment Mgmnt Fees-$32,437-$32,437
Information Technology$10,730$10,683-$21,413
Other Expenses$18,119$8,989-$18,119
Insurance$8,450$3,270-$11,720
Travel$4,101$3,939-$8,040
Depreciation Depletion$6,365--$6,365
Interest-$4,626-$4,626
Office Expenses$385$715-$1,100
Total Functional Expenses$1,091,690$270,052$0$1,361,742

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,541,487
Expenses per Audited Statements$1,361,742
Total Expenses per Form 990$1,361,742
Expenses Not Reported on Form 990$179,745
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Northwest Indiana Symphony SocietyMunster, IN501c3General Support$25,000
Theatre at the CenterMunster, IN501c3-$17,765
Lubeznik Center for the ArtsMichigan City, IN501c3General Support$12,155
Indiana Ballet TheatreMerrillville, IN501c3General Support$9,350
La Porte County Symphony OrchestraLaporte, IN501c3General Support$9,350
Community Theatre GuildValparaiso, IN501c3General Support$7,480
Area Artists & CraftsmentChesterton, IN501c3General Support$6,545
Miller Beach ArtsGary, IN501c3General Support$6,545
Beach Front Dance StudioGary, IN501c3General Support$5,610
Books Brushes & BandsHammond, IN501c3General Support$5,610
South Shore Dance AllianceGary, IN501c3General Support$5,610
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$216,196
Fundraising Direct Expenses$42,607
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Beaux Arts Ball$216,196$216,196$42,607$173,589
Total Events$216,196$216,196$42,607$173,589
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Capital Lease$6,706
Gift Certificates$3,430
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The tax return is reviewed and approved by the executive director and the director of finance before filing.

Form 990, Page 6, Part VI, Line 12C

Officers and directors are required to sign a conflict of interest statement each year. Conflicts of interest as well as any potential conflicts must be fully disclosed to the board. The board will review the matter and decide whether or not a conflict exists.

Form 990, Page 6, Part VI, Line 15A

Board votes on compensation and the executive committee approves any salary recommendations.

Form 990, Page 6, Part VI, Line 15B

Board votes on compensation and the executive committee approves any salary recommendations.

Form 990, Page 6, Part VI, Line 18

The tax return is available upon request and at www.guidestar.org.

Form 990, Page 6, Part VI, Line 19

Governing documents are available upon request.

Filing and Contact Details

Filer

Filer Name
South Shore Arts Inc
EIN
23-7049722
Phone
2199330200
Address
1040 RIDGE ROAD, MUNSTER, IN 46321

Signing Officer

Name
John Cain
Title
Executive Director
Phone
2198360525
Signed
2018-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John Cain
Formed
1969
Legal Domicile
In
Voting Board Members
36
Independent Board Members
36
Employees
23
Volunteers
40

Preparer

Firm
Mcmahon & Associates Cpas Pc
Address
10010 CALUMET AVE, MUNSTER, IN 46321-3976
Preparer
Matthew Stosich CPA
Phone
2199243450
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers help with fund raising, art classes, and customer relations.

Form 990, Page 2, Part III, Line 4D

The organization provides other art-related activites

Form 990, Part XI, Line 9

Book/tax depreciation difference -37

Financial Statement Notes

Schedule D, Page 2, Part III, Line 4

The organization maintains a collection of artwork, most of which was received through donations. Some of the collection is displayed for the public to enjoy, while some is held in storage.

Schedule D, Page 3, Part X

The organization has adopted the provisions of asc 740-10-25, which requires an organization to disclose any income tax uncertainties, including tax positions for which it is reasonably possible that the unrecognized tax benefit will significantly change in the next 12 months. The organization believes that all income tax positions are reasonable and that the total amounts of unrecognized tax benefits will not significantly increase or decrease within 12 months of the reporting date. As a non- profit organization, the entity is exempt from income taxes. The organization did not recognize any income tax interest or penalties during the fiscal year ended june 30, 2017. In general, the organization is no longer subject to examinations for years prior to 2015.

Schedule D, Page 4, Part XI, Line 2D

Direct fundrasing expenses 42,607 cost of goods sold 137,101

Schedule D, Page 4, Part XII, Line 2D

Direct fundrasing expenses 42,607 cost of goods sold 137,101 book / tax depreciation difference 37

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