Civic Intelligence

Studio Two Three-1

990 • Fiscal year 2018 • EIN 27-0876594

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 08, 2019

3300 W Clay StreetRichmond, VA 23230

(804) 254-7302

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.44x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

78th percentile

0.24x

Higher debt load relative to revenue than 78% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

36th percentile

-1.3%

Higher net margin than 36% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

74th percentile

$65,000

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

24th percentile

-6.1%

Faster asset growth than 24% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

77th percentile

26%

Faster revenue growth than 77% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$282,213

Down $18,417 (-6.1%) from 2017

Net Assets

Up

$157,846

Up $42,080 (+36%) from 2017

Liabilities

Down

$124,367

Down $60,497 (-33%) from 2017

Revenue

Up

$518,096

Up $107,788 (+26%) from 2017

Expenses

Up

$524,838

Up $116,857 (+29%) from 2017

Net Income

Down

-$6,742

Down $9,069 (-390%) from 2017

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

2018

Assets$282,213
Liabilities$124,367
Net Assets$157,846

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

2018

Revenue$518,096
Expenses$524,838
Net Income-$6,742
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 8, 2019
Return Version
2018v3.1
Gross Receipts
$553,343
Mission and Program Overview

Mission

Studio two three empowers artists to make art and 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 and ideas, and collaborate on projects.

Studio two three makes art accessible through studio access, education, and exhibitions

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$216,213$183,097▼ $33,116
Cash and Non-Interest-Bearing Accounts$67,294$77,179▲ $9,885
Prepaid Expenses and Deferred Charges$964$9,528▲ $8,564
Pledges and Grants Receivable$3,860$2,834▼ $1,026
Inventories for Sale or Use-$2,834-
Accounts Receivable$8,344$2,786▼ $5,558
Total Assets$300,630$282,213▼ $18,417
Other Assets Total$3,955$3,955→ $0
Liabilities
Deferred Revenue$63,897--
Mortgage Notes Payable Secured by Investment Property$60,000$56,066▼ $3,934
Accounts Payable and Accrued Expenses$42,194$39,817▼ $2,377
Unsecured Notes Loans Payable$16,874$16,350▼ $524
Other Liabilities$1,899$12,134▲ $10,235
Total Liabilities$184,864$124,367▼ $60,497
Net Assets / Fund Balance
Unrestricted Net Assets$54,786$157,846▲ $103,060
Temporarily Rstr Net Assets$60,980--
Total Net Assets Fund Balance$115,766$157,846▲ $42,080
Total Liabilities and Net Assets / Fund Balance$300,630$282,213▼ $18,417

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$39,126$16,500-
Land$0--
Equipment$13,523$18,257-
Leasehold Improvements$130,448$36,994-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ashley HawkinsExecutive DirectorFT$65,000$65,000

Board Members and Trustees

NameTitle
Leah MuhlenfeldBoard Chair
Anedra BourneDirector
Christina LindholmDirector
Jamie GregoryDirector
Joseph PapaDirector
Laurie CarnohanDirector
Mary HollandDirector
Mary LorinoDirector
Nisha SinghDirector
Ted ElmoreSecretary
Pat KellyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$195,160
Program Service Revenue
$298,307
Investment Income
$0
Other Revenue
$24,629
All Other Contributions
$103,796
Change in Net Assets
$-6,742

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$340,431
Salaries, Compensation, and Employee Benefits$184,407
Total Fundraising Expense$36,397
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$96,673$4,871$4,871$106,415
Royalties$85,750$2,144$2,144$90,038
Current Officers, Directors, Trustees, and Key Employees$40,300$1,950$22,750$65,000
Other Expenses$33,492$0$0$33,492
Depreciation Depletion$25,974$1,443$1,443$28,860
Payroll Taxes$11,692$650$650$12,992
Fees for Services Accounting$7,510$375$375$8,260
Information Technology$6,183$309$309$6,801
Fees for Services Management$5,025$251$251$5,527
Office Expenses$2,433$122$122$2,677
Fees for Services Legal$0$0$75$75
Total Functional Expenses$472,919$15,522$36,397$524,838
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$12,498
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
Payroll Liabilities$12,134
Sales Tax Payable$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Filing and Contact Details

Filer

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

Signing Officer

Name
Ashley Hawkins
Title
Executive Director
Phone
8042547302
Signed
2019-09-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ashley Hawkins
Formed
2009
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
11
Employees
5
Volunteers
50

Preparer

Firm
Gary S Levine CPA
Address
PO Box 2250, GLEN ALLEN, VA 23060
Preparer
Gary S Levine CPA
Phone
8044326598
Supplemental Narrative

Additional Explanations

Pt VI, Line 19

Upon request

Pt VI, Line 11B

Prior to filing draft of 990 is provided to management and board for review

Pt VI, Line 12C

Staff and board members receive a written copy of the conflict of interest policy in their board manuals and must disclose conflicts as they occur.

Pt VIII

Studio Two Three classifies Artwork Sales from their annual auction as Program Revenue since the all auctioned items were created in the by local artists. These same artists also teach classes and volunteer other services at the Studio. Proceeds from package and ticket sales, and sponsorships are not recorded as Program Revenue.

Pt VIII

All store sales are crafted by artists who teach, work, and volunteer at the Studio. The store does not sell any items from any outside vendors or artists.

Pt VI, Line 15A

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 III, Line 4D

Studio Two Three Store and Artwork Sales: The Studio 0. 0. 0.

Form 990, Part III, Line 4D

how the item was crafted, and describes the opportunities 0. 0. 0.

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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/ProgSrvcAccomActy2Grp/Desc0Workshops & Education: Studio Two Three offers a variety of printmaking classes, and workshops throughout the year. In addition to these wokshops, the Studio conducts unique education programs in which professional artists bring the art of printmaking to K-12 school classrooms. nonprofit community organizations, galleries and museums, and other educational venues throughout Richmond, VA. To further its mission the Studio uses a mobile printmaking truck, S23 To-Go, which brings field trips, and arts education directly to schools, other nonprofits, community events, and festivals.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Exhibitions: Studio Two Three's exhibitions are offered in partnership with other nonprofits, galleries, and educational institutions. The Studio's annual Steamroll Printing Exhibition showcases the art of printmaking to an audience of more than 10,000 people. Studio Two Three focuses on cultivating and sustaining partnerships in the Richmond, VA nonprofit communicty. Studio Two Three's leadership is focused on offering the unique services available through the studio to valuably contribute to the arts programming offered by other local nonprofits.
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