Civic Intelligence

Culturesource F/K/A Cultural Alliance of Se Michigan

990 • Fiscal year 2016 • EIN 26-1476029

Jan 01, 2016 to Dec 31, 2016 • Filed on Sep 25, 2017

71 GARFIELD STREET No 040Detroit, MI 48201

(313) 831-1151

Siviq Scores

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

Liabilities / Assets

51st percentile

0.04x

Higher debt load relative to assets than 51% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

53rd percentile

0.05x

Higher debt load relative to revenue than 53% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

71st percentile

13%

Higher net margin than 71% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

94th percentile

$155,423

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 21.4% of source-year revenue.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

78th percentile

20%

Faster asset growth than 78% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

33rd percentile

-5.0%

Faster revenue growth than 33% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Assets

Up

$791,682

Up $129,364 (+20%) from 2015

Net Assets

Up

$757,262

Up $97,551 (+15%) from 2015

Liabilities

Up

$34,420

Up $31,813 (+1220%) from 2015

Revenue

Down

$725,057

Down $38,256 (-5.0%) from 2015

Expenses

Down

$627,506

Down $11,086 (-1.7%) from 2015

Net Income

Down

$97,551

Down $27,170 (-22%) from 2015

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $392,261Liabilities 2011: $74,802Net Assets 2011: $317,4592011Assets 2013: $479,598Liabilities 2013: $32,794Net Assets 2013: $446,8042013Assets 2014: $541,952Liabilities 2014: $6,962Net Assets 2014: $534,9902014Assets 2015: $662,318Liabilities 2015: $2,607Net Assets 2015: $659,7112015Assets 2016: $791,682Liabilities 2016: $34,420Net Assets 2016: $757,2622016Assets 2017: $1,494,000Liabilities 2017: $770,432Net Assets 2017: $723,5682017Assets 2018: $1,843,925Liabilities 2018: $810,389Net Assets 2018: $1,033,5362018Assets 2019: $1,372,077Liabilities 2019: $410,875Net Assets 2019: $961,2022019Assets 2020: $1,823,136Liabilities 2020: $416,998Net Assets 2020: $1,406,1382020Assets 2021: $3,009,357Liabilities 2021: $217,067Net Assets 2021: $2,792,2902021Assets 2022: $4,083,247Liabilities 2022: $289,976Net Assets 2022: $3,793,2712022Assets 2023: $7,554,281Liabilities 2023: $132,016Net Assets 2023: $7,422,2652023Assets 2024: $5,793,536Liabilities 2024: $468,704Net Assets 2024: $5,324,8322024

Highlighted filing

2016

Assets$791,682
Liabilities$34,420
Net Assets$757,262

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2011: $916,9912011Revenue 2013: $1,033,342Expenses 2013: $1,221,827Net Income 2013: -$188,4852013Revenue 2014: $1,029,152Expenses 2014: $940,966Net Income 2014: $88,1862014Revenue 2015: $763,313Expenses 2015: $638,592Net Income 2015: $124,7212015Revenue 2016: $725,057Expenses 2016: $627,506Net Income 2016: $97,5512016Revenue 2017: $590,238Expenses 2017: $623,932Net Income 2017: -$33,6942017Revenue 2018: $1,030,688Expenses 2018: $720,720Net Income 2018: $309,9682018Revenue 2019: $809,549Expenses 2019: $881,883Net Income 2019: -$72,3342019Revenue 2020: $1,544,891Expenses 2020: $1,099,955Net Income 2020: $444,9362020Revenue 2021: $2,825,503Expenses 2021: $1,439,351Net Income 2021: $1,386,1522021Revenue 2022: $3,714,612Expenses 2022: $2,855,065Net Income 2022: $859,5472022Revenue 2023: $6,112,731Expenses 2023: $2,483,737Net Income 2023: $3,628,9942023Revenue 2024: $3,123,254Expenses 2024: $5,220,687Net Income 2024: -$2,097,4332024

Highlighted filing

2016

Revenue$725,057
Expenses$627,506
Net Income$97,551
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Sep 25, 2017
Return Version
2016v3.0
Gross Receipts
$743,637
Mission and Program Overview

Mission

Culturesource advances the work of organizations that cultivate creative and cultural expression in southeast michigan.

CultureSource strengthens the arts and culture sector in Southeast Michigan through advocacy, capacity building and marketing resources in order to cultivate an innovative, collaborative, diverse and engaged community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$549,490$672,109▲ $122,619
Land, Buildings, and Equipment, Net$75,431$90,560▲ $15,129
Pledges and Grants Receivable$35,000$0▼ $35,000
Prepaid Expenses and Deferred Charges$2,397$6,829▲ $4,432
Total Assets$662,318$791,682▲ $129,364
Other Assets Total$0$22,184▲ $22,184
Liabilities
Other Liabilities$0$22,184▲ $22,184
Deferred Revenue$250$10,890▲ $10,640
Accounts Payable and Accrued Expenses$2,357$1,346▼ $1,011
Total Liabilities$2,607$34,420▲ $31,813
Net Assets / Fund Balance
Unrestricted Net Assets$500,414$735,382▲ $234,968
Temporarily Rstr Net Assets$159,297$21,880▼ $137,417
Total Net Assets Fund Balance$659,711$757,262▲ $97,551
Total Liabilities and Net Assets / Fund Balance$662,318$791,682▲ $129,364

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$88,504$69,719$158,223
Equipment$2,056$13,841$15,897
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Pamela IacobelliPresidentFT$155,423$155,423

Board Members and Trustees

NameTitle
rich hombergchairman
Dominic Dimarcodirector
afa dworkindirector
annmarie ericsondirector
bob burydirector
deVon akmondirector
frank jonnadirector
kathleen mullinsdirector
kerry domandirector
mariam nolandDirector
maury okunDirector
mel drummdirector
michael morindirector
olga stelladirector
paul hogledirector
tonya matthewsDirector
juanita mooresecretary
christian overlandTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$734,558
Program Service Revenue
$8,830
Investment Income
$-18,331
Other Revenue
$0
All Other Contributions
$643,322
Change in Net Assets
$97,551

Audited Revenue Reconciliation

Revenue per Audited Statements
$725,057
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$725,057
Total Revenue per Form 990
$725,057
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$474,765
Salaries, Compensation, and Employee Benefits$152,741
Total Fundraising Expense$76,554
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$186,221$31,036$41,383$258,640
Current Officers, Directors, Trustees, and Key Employees$109,973$18,329$24,439$152,741
Advertising$54,939--$54,939
Depreciation Depletion$27,310$4,446-$31,756
Fees for Services Accounting$16,033$2,672$3,563$22,268
Occupancy$9,511$1,585$2,114$13,210
All Other Expenses$9,813$195$260$10,268
Office Expenses$5,893$982$1,310$8,185
Other Expenses$3,718$620$826$5,164
Conferences and Meetings$3,655$609$812$5,076
Insurance$1,485$248$330$2,063
Total Functional Expenses$489,092$61,860$76,554$627,506

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$627,506
Total Expenses per Audited Statements$627,506
Total Expenses per Form 990$627,506
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Fiduciary funds payable$22,184
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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

Form 990, Part VI, Section B, line 11B

executive director gives form 990 to the board prior to filing.

Form 990, Part VI, Section B, line 12C

board memebers have to inform the board of any conflicts of interst when they arise and also the board reviews on an annual basis.

Form 990, Part VI, Section B, line 15A

Executive compensation was reviewed and set in 2015 by the Executive Search Committee. There was no change in executive compensation for 2016.

Form 990, Part VI, Section C, line 19

The Form 990 is available for public inspection on the Guidestar website and in the administrative office.

Filing and Contact Details

Filer

Filer Name
CultureSource
EIN
26-1476029
Phone
3138311151
Address
71 GARFIELD STREET No 040, DETROIT, MI 48201

Signing Officer

Name
Rich Homberg
Title
chairman
Phone
3138311151
Signed
2017-09-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rich Homberg
Formed
2007
Legal Domicile
Mi
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
2

Preparer

Firm
UHY Advisors MI Inc
Address
27725 Stansbury Blvd Suite 210, Farmington Hills, MI 48334
Preparer
michael santicchia
Phone
2483550280
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Contract staff: Program service expenses 186,221. Management and general expenses 31,036. Fundraising expenses 41,383. Total expenses 258,640.

Form 990, Part XII, Line 2C:

the organization has a committee that assumes responsibility for oversight of the audit and selection of an independent accountant this process has not changed from the previous year.

Financial Statement Notes

Part X, Line 2:

ASC guidance regarding accounting for uncertainty in income taxes clarifies the accounting for income taxes by prescribing the minimum recognition threshold income tax position is required to be met before being recognized in the financial statements and applies to all income tax positions. Each income tax position is assessed using a two-step process. A determination is first made as to whether it is more likely than not that the income tax position will be sustained, based upon technical merits, upon examination by the taxing authorities. If the income tax position is expected to meet the more likely than not criteria, the benefit recorded in the financial statements equals the largest amount that is greater than 50% likely to be realized upon its ultimate settlement. At December 31, 2016 and 2015, there were no uncertain tax positions that required accrual.

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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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IRS990/Desc0USING OUR NEWS PLATFORM, REGIONAL CALENDAR AND STRATEGIC PARTNERSHIPS, CULTURESOURCE BUILDS AWARENESS TO INCREASE ENGAGEMENT FOR ITS MEMBERS. ITS EDITORIAL COVERAGE ELEVATES ARTS AND CULTURE PROGRAMMING, HIGHLIGHTS COMMUNITY-WIDE TRENDS, AND CONNECTS THE ARTS COMMUNITY TO BUSINESS, EDUCATION AND CIVIC AUDIENCES.THE CULTURESOURCE CALENDAR (FOUND AT CULTURESOURCE.ORG) IS SOUTHEAST MICHIGAN'S ONLY COMPREHENSIVE CALENDAR FOR CULTURAL EVENTS, AND FEATURES MORE THAN 5,000 EVENTS FROM OVER 500 ORGANIZATIONS ANNUALLY. FEATURED EVENTS RANGE FROM ART EXHIBITS AND DANCE PERFORMANCES TO LECTURES, CONCERTS, PLAYS AND FAMILY ACTIVITIES. MEMBER EVENTS ARE HIGHLIGHTED WEEKLY IN THE SOURCE NEWSLETTER, REACHING TENS OF THOUSANDS OF INBOXES WEEKLY.IN 2016 WE INTRODUCED A NEW WEBSITE TO FACILITATE NAVIGATION AND TO MAXIMIZE THE OVERALL WEB PLATFORM EXPERIENCE. WEEKLY AND MONTHLY E-NEWSLETTERS CONTINUE TO PROMOTE OUR PROGRAMS AND ALSO SERVE TO INFORM THE PUBLIC ABOUT THE COMMUNITY IMPACT OF ARTS AND CULTURE. THE SITE ATTRACTED 84,000 UNIQUE VISITORS AND 15,000 NEWSLETTER SUBSCRIBERS IN 2016. CULTURESOURCE.ORG DRAWS A UNIQUE SPECTRUM OF PEOPLE: THE 110,000 2016 WEBSITE SESSIONS WERE SPLIT LARGELY AMONG FOUR AGE GROUPS SPANNING 40 YEARS: 25-34 (24%), 35-44 (20%), 45-54 (19%), AND 55-64 (17%).
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IRS990/MissionDesc0CultureSource strengthens the arts and culture sector in Southeast Michigan through advocacy, capacity building and marketing resources in order to cultivate an innovative, collaborative, diverse and engaged community.
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IRS990/ProgSrvcAccomActy2Grp/Desc0Capacity Building & Professional ConveningCULTURESOURCE IS FOCUSED ON BRINGING ITS MEMBERSHIP TOGETHER TO LEARN ABOUT TOPICS IMPORTANT TO THE SECTOR; TO CONVENE THEM FOR PROFESSIONAL AND SOCIAL PURPOSES; TO HEAR ABOUT OPPORTUNITIES FOR NEW FINANCIAL AND OTHER OPPORTUNITIES; AND TO IMPROVE THEIR MARKETING AND AUDIENCE DEVELOPMENT, COMMUNITY ENGAGEMENT, FINANCIAL, AND PROGRAMMATIC SKILLS. IN 2016, WE PRESENTED 8 CONVENINGS: SEMINARS, WORKSHOPS, PANEL PRESENTATIONS, AND ROUNDTABLES THAT FEATURED THOUGHT LEADERS FROM ACROSS THE REGION AND THE COUNTRY TO DISCUSS THE STATE OF ARTS AND CULTURE IN SOUTHEAST MICHIGAN; TELLING YOUR STORY; BUILDING AUDIENCE; AND TWO SESSIONS FOR COO'S TO WORK TOGETHER. THESE SESSIONS WERE NOT ONLY EDUCATIONAL BUT ALSO A FORUM FOR NETWORKING. ASIDE FROM THESE CONVENINGS, CULTURESOURCE HOSTED FOUR CULTURE SOCIALS, FOR MEMBERS TO MEET AND NETWORK INFORMALLY. IN MID-2016 CULTURESOURCE WAS INVITED BY THE MICHIGAN COUNCIL OF ARTS AND CULTURAL AFFAIRS TO ADMINISTER THEIR MINIGRANT PROGRAM IN WAYNE COUNTY. AS A RESULT, WE CONDUCTED 5 WORKSHOPS TO INCREASE THE CAPACITY OF SMALL AND MID-SIZE ORGANIZATIONS TO RAISE FUNDS FOR THEIR PROJECTS. AT THE END OF 2016 WE ALSO CONDUCTED A MEMBERSHIP SURVEY TO ASSESS OUR MEMBERS' CAPACITY NEEDS AND USED THESE TO DEVELOP 2017 PROGRAMMING. LAST, WE PROVIDED A MONTHLY MEMBER NEWSLETTER TO SHOWCASE EVENTS, GRANT OPPORTUNITIES, JOB POSTINGS, AND OTHER SECTOR NEWS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0COMMUNITY INITIATIVESCULTURESOURCE USES THE POWER OF OUR MEMBERSHIP NETWORK TO MAKE REGIONAL IMPACT. IN THE PAST, WE HAVE COLLECTIVELY WORKED ON PROJECTS SUCH AS THE MICHIGAN ACTIVITIES PASS AND THE "BE SUMMER SMART" PROGRAM WITH DETROIT PUBLIC TELEVISION. IN 2016, WE BEGAN PLANNING FOR CONVERSATIONS ABOUT HOW TO ADVOCATE APPROPRIATELY FOR OUR NONPROFIT MEMBER ORGANIZATIONS. WE ALSO CONTINUED PARTNERING WITH DETROIT PUBLIC SCHOOLS, FORMATIVE EVALUATION RESEARCH ASSOCIATES, AND SEVERAL OF OUR MEMBER CULTURAL INSTITUTIONS TO ACTIVATE THE DPS SCIENCE ENRICHMENT EXPERIENCE (S.E.E.) PROGRAM. THIS PROGRAM PROVIDED 7,200 STUDENTS WITH HANDS-ON ENRICHMENT EXPERIENCES ALIGNED WITH MICHIGAN CURRICULUM.
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