Civic Intelligence

Studio Two Three

990 • Fiscal year 2021 • EIN 27-0876594

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 07, 2022

3300 W Clay StreetRichmond, VA 23230

(804) 254-7302

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$585,308

Up $360,663 (+161%) from 2019

Net Assets

Up

$354,464

Up $236,597 (+201%) from 2019

Liabilities

Up

$230,844

Up $124,066 (+116%) from 2019

Revenue And Expenses

Revenue

Up

$781,294

Up $255,493 (+49%) from 2019

Expenses

Up

$601,657

Up $1,260 (+0.2%) from 2019

Net Income

Up

$179,637

Up $254,233 (+341%) from 2019

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 2013: $50,833Liabilities 2013: $23,184Net Assets 2013: $27,6492013Assets 2014: $51,579Liabilities 2014: $2,243Net Assets 2014: $49,3362014Assets 2015: $109,476Liabilities 2015: $4,888Net Assets 2015: $104,5882015Assets 2016: $153,309Liabilities 2016: $4,758Net Assets 2016: $148,5512016Assets 2017: $300,630Liabilities 2017: $184,864Net Assets 2017: $115,7662017Assets 2018: $282,213Liabilities 2018: $124,367Net Assets 2018: $157,8462018Assets 2019: $224,645Liabilities 2019: $106,778Net Assets 2019: $117,8672019Assets 2021: $585,308Liabilities 2021: $230,844Net Assets 2021: $354,4642021Assets 2022: $2,799,280Liabilities 2022: $1,670,929Net Assets 2022: $1,128,3512022Assets 2023: $1,203,934Liabilities 2023: $306,117Net Assets 2023: $897,8172023Assets 2024: $939,265Liabilities 2024: $275,347Net Assets 2024: $663,9182024

Highlighted filing

2021

Assets$585,308
Liabilities$230,844
Net Assets$354,464

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2013: $100,104Expenses 2013: $81,900Net Income 2013: $18,2042013Revenue 2014: $113,095Expenses 2014: $91,408Net Income 2014: $21,6872014Revenue 2015: $230,257Expenses 2015: $175,005Net Income 2015: $55,2522015Revenue 2016: $329,076Expenses 2016: $285,113Net Income 2016: $43,9632016Revenue 2017: $410,308Expenses 2017: $407,981Net Income 2017: $2,3272017Revenue 2018: $518,096Expenses 2018: $524,838Net Income 2018: -$6,7422018Revenue 2019: $525,801Expenses 2019: $600,397Net Income 2019: -$74,5962019Revenue 2021: $781,294Expenses 2021: $601,657Net Income 2021: $179,6372021Revenue 2022: $1,491,396Expenses 2022: $717,509Net Income 2022: $773,8872022Revenue 2023: $731,559Expenses 2023: $962,093Net Income 2023: -$230,5342023Revenue 2024: $696,286Expenses 2024: $930,185Net Income 2024: -$233,8992024

Highlighted filing

2021

Revenue$781,294
Expenses$601,657
Net Income$179,637
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 7, 2022
Return Version
2021v4.0
Gross Receipts
$819,691
Mission and Program Overview

Mission

Studio two three is an energized and evolving artistic community that inspires innovation in printmaking through artist residency, workshops and exhibitions.

Studio Two Three empowers artists to make art & make change. Studio Two Three is a nonprofit community print studio and art space, founded in 2009. We believe in radical generosity, the power of community art production and storytelling and that community artists are integral to social and systemic change. We are a busy home to over 130 artist members that runs off of trust and a culture of mutual aid. Members have 24/7 access, share resources & ideas, and collaborate on projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$297,989$276,562▼ $21,427
Accounts Receivable$30,750$198,029▲ $167,279
Land, Buildings, and Equipment, Net$128,440$102,686▼ $25,754
Prepaid Expenses and Deferred Charges$12,149$0▼ $12,149
Inventories for Sale or Use$2,163$4,074▲ $1,911
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$475,446$585,308▲ $109,862
Other Assets Total$3,955$3,957▲ $2
Liabilities
Unsecured Notes Loans Payable$223,450$159,809▼ $63,641
Mortgage Notes Payable Secured by Investment Property$56,066$48,243▼ $7,823
Other Liabilities$19,676$21,365▲ $1,689
Accounts Payable and Accrued Expenses$1,427$1,427→ $0
Total Liabilities$300,619$230,844▼ $69,775
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$174,827$354,464▲ $179,637
Total Net Assets Fund Balance$174,827$354,464▲ $179,637
Total Liabilities and Net Assets / Fund Balance$475,446$585,308▲ $109,862

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$160,107$7,336$167,443
Equipment$41,303$22,438$63,741
Other Land Buildings$-98,724$122,989$24,265
Compensation and Service Providers

Board Members and Trustees

NameTitle
Christopher MackenzieChairman
Aimee JoyauxDirector
Anedra BourneDirector
Joseph PapaDirector
Justin OwenDirector
Kelli LemonDirector
Leah MuhlenfieldDirector
Ashley HawkinsExecutive Director
James GregorySecretary
Patrick KellyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$418,223
Program Service Revenue
$189,206
Investment Income
$0
Other Revenue
$173,865
All Other Contributions
$200,153
Change in Net Assets
$179,637
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$383,680
Salaries, Compensation, and Employee Benefits$217,977
Total Fundraising Expense$22,757
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$196,179$10,899$10,899$217,977
Occupancy$194,425$10,802$10,801$216,028
Office Expenses$36,929--$36,929
All Other Expenses$15,564$18,596-$34,160
Depreciation Depletion-$25,753-$25,753
Other Expenses$9,897$17,857-$9,897
Advertising$6,282--$6,282
Travel-$3,169-$3,169
Fees for Services Other--$1,057$1,057
Fees for Services Accounting-$473-$473
Total Functional Expenses$470,907$107,993$22,757$601,657
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$68,869
Fundraising Direct Expenses$18,140
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Events$68,869$68,869$18,140$50,729
Total Events$68,869$68,869$18,140$50,729
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
gift certificates payable$12,496
sales tax payable$9,029
line of credit$1,140
credit cards$28
payroll liability$-1,328
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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, Line 11B: Form 990 Review Process

The Executive Director reviews the 990 with the Treasurer and provides a copy for the full board via email

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

1. The Executive/Compensation Committee, as an independent body the Executive Director is not a part of the review process conducts a comparability review. 2. The Executive/Compensation Committee looks at comparable salary and benefits data, such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, and of a similar budget size, that are located in the same, or a similar geographic region, pay their senior leaders. 3. The Executive/Compensation Committee documents who was involved, and their independence i.e., that they do not receive compensation from the nonprofit and the process used to conduct the review, as well as the disposition of the full board's decision to approve the executive director's compensation in the minutes of a board meeting. The documentation demonstrates that the board took the comparable data into consideration when it approved the compensation.

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

Studio Two Three maintains a Gold status on GuideStar by uploading annual financials, its strategic plan, and 990 tax forms. Additional documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Studio Two Three-1
EIN
27-0876594
Phone
8042547302
Address
3300 W Clay Street, Richmond, VA 23230

Signing Officer

Name
Ashley Hawkins
Title
Executive Director
Signed
2022-10-07
Discuss with paid preparer
Yes

Organization Details

Formed
2009
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
4

Preparer

Firm
Nadia S Anderson CPA
Address
3300 W Broad Street Suite 100, Richmond, VA 23230
Preparer
Nadia Anderson
Phone
8043389671
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: Community Printmaking: Studio Two Three brings its mobile print truck into the community in support for free community printmaking activities. The truck visits festivals, nonprofits, community events, and collaborates with arts and activist communities working on social justice issues in the City of Richmond and beyond. The studio holds several community community printmaking days a month the content varies each time. Processes include screen printing tshirts and posters, printing giant letterpress banners, and using the print truck as a mobile darkroom to shoot and develop large format photographic portraits.

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IRS990/OccupancyGrp/ManagementAndGeneralAmt010802
IRS990/OccupancyGrp/ProgramServicesAmt0194425
IRS990/OccupancyGrp/TotalAmt0216028
IRS990/OfficeExpensesGrp/ProgramServicesAmt036929
IRS990/OfficeExpensesGrp/TotalAmt036929
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03955
IRS990/OtherAssetsTotalGrp/EOYAmt03957
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IRS990/OtherExpensesGrp/Desc0merchant fees
IRS990/OtherExpensesGrp/Desc1other professional expenses
IRS990/OtherExpensesGrp/Desc2equipment
IRS990/OtherExpensesGrp/Desc3refreshments
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt117857
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IRS990/OtherExpensesGrp/ProgramServicesAmt19897
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt010899
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0196179
IRS990/OtherSalariesAndWagesGrp/TotalAmt0217977
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IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt012149
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IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0Education Classes
IRS990/ProgramServiceRevenueGrp/Desc1Membership Rental
IRS990/ProgramServiceRevenueGrp/Desc2Printing Services
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt023789
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1133223
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IRS990/ProgSrvcAccomActy2Grp/Desc0Workshops, Artist Residency & Education: Studio Two Three offers a variety of community classes and workshops throughout the year in printmaking, photography, and other art techniques. Classes are offered on a sliding scale, with scholarship spots available for those in need of financial assistance. Through its Make Art Work programming, the Studio also offers artist residency, business classes, career training, professional development and mentorship to artists to help them build sustainable careers. The studio also hosts onsite and offsite field trips for K12 students, nonprofit community organizations, galleries and museums and other educational venues throughout Virginia.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt070636
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt023789
IRS990/ProgSrvcAccomActy3Grp/Desc0Studio Two Three Store, Artist Markets and Artwork Sales: The Studio store features work by talented local artists who are artist members, teachers, and volunteers. The store provides local artists with the opportunity to sell their work and build their careers in the arts. The Studio also features sales of local artist's work at vendor markets, their annual Winter Market and fall art auction.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt047091
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0143393
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYRevenuesLessExpensesAmt059687
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990/ScheduleBRequiredInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt022438
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IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0160107
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0credit cards
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4sales tax payable
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IRS990ScheduleG/AgrmtProfFundraisingActyInd0false
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