Civic Intelligence

Crosstown Arts

990 • Fiscal year 2014 • EIN 27-1876711

May 01, 2013 to Apr 30, 2014 • Filed on Mar 16, 2015

Organization ProfileWWW.CROSSTOWNARTS.ORG

View Organization Page

427 N Watkins38104

(901) 507-8030

Siviq Scores

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

Liabilities / Assets

29th percentile

0.02x

Higher debt load relative to assets than 29% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

23rd percentile

0.02x

Higher debt load relative to revenue than 23% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

96th percentile

73%

Higher net margin than 96% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

66th percentile

$91,118

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

99th percentile

531%

Faster asset growth than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$3,973,145

Up $3,343,240 (+531%) from 2013

Net Assets

Up

$3,900,644

Up $3,326,811 (+580%) from 2013

Liabilities

Up

$72,501

Up $16,429 (+29%) from 2013

Revenue And Expenses
Liabilities / Revenue23rd percentileNet Margin96th percentile

Revenue

$4,574,688

No earlier filing loaded for comparison.

Expenses

Up

$1,247,877

Up $640,529 (+105%) from 2013

Net Income

$3,326,811

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$150M$100M$50M$0Assets 2011: $1,285Liabilities 2011: $0Net Assets 2011: $1,2852011Assets 2012: $47,559Liabilities 2012: $0Net Assets 2012: $47,5592012Assets 2013: $629,905Liabilities 2013: $56,072Net Assets 2013: $573,8332013Assets 2014: $3,973,145Liabilities 2014: $72,501Net Assets 2014: $3,900,6442014Assets 2015: $24,829,187Liabilities 2015: $12,953,004Net Assets 2015: $11,876,1832015Assets 2016: $25,004,528Liabilities 2016: $16,537,881Net Assets 2016: $8,466,6472016Assets 2017: $26,996,120Liabilities 2017: $15,285,050Net Assets 2017: $11,711,0702017Assets 2018: $56,726,696Liabilities 2018: $41,025,787Net Assets 2018: $15,700,9092018Assets 2019: $56,945,283Liabilities 2019: $41,363,501Net Assets 2019: $15,581,7822019Assets 2020: $54,125,873Liabilities 2020: $41,042,907Net Assets 2020: $13,082,9662020Assets 2021: $52,274,330Liabilities 2021: $40,638,805Net Assets 2021: $11,635,5252021Assets 2022: $87,226,564Liabilities 2022: $60,739,613Net Assets 2022: $26,486,9512022Assets 2023: $109,397,913Liabilities 2023: $84,037,900Net Assets 2023: $25,360,0132023Assets 2024: $100,312,782Liabilities 2024: $64,890,870Net Assets 2024: $35,421,9122024Assets 2025: $100,520,354Liabilities 2025: $65,106,221Net Assets 2025: $35,414,1332025

Highlighted filing

2014

Assets$3,973,145
Liabilities$72,501
Net Assets$3,900,644
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MExpenses 2011: $335,9652011Expenses 2012: $353,1362012Expenses 2013: $607,3482013Revenue 2014: $4,574,688Expenses 2014: $1,247,877Net Income 2014: $3,326,8112014Revenue 2015: $11,337,246Expenses 2015: $3,335,179Net Income 2015: $8,002,0672015Revenue 2016: $3,251,279Expenses 2016: $4,334,766Net Income 2016: -$1,083,4872016Revenue 2017: $7,114,271Expenses 2017: $4,101,536Net Income 2017: $3,012,7352017Revenue 2018: $8,614,881Expenses 2018: $4,625,042Net Income 2018: $3,989,8392018Revenue 2019: $6,954,877Expenses 2019: $7,074,004Net Income 2019: -$119,1272019Revenue 2020: $4,227,787Expenses 2020: $6,818,667Net Income 2020: -$2,590,8802020Revenue 2021: $3,683,328Expenses 2021: $5,451,196Net Income 2021: -$1,767,8682021Revenue 2022: $20,011,175Expenses 2022: $5,752,361Net Income 2022: $14,258,8142022Revenue 2023: $4,885,921Expenses 2023: $6,054,791Net Income 2023: -$1,168,8702023Revenue 2024: $4,864,555Expenses 2024: $5,489,536Net Income 2024: -$624,9812024Revenue 2025: $5,146,987Expenses 2025: $4,830,913Net Income 2025: $316,0742025

Highlighted filing

2014

Revenue$4,574,688
Expenses$1,247,877
Net Income$3,326,811
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2013 to Apr 30, 2014
Signed
Mar 16, 2015
Return Version
2013v4.0
Gross Receipts
$4,687,529
Mission and Program Overview

Mission

Crosstown arts is a contemporary arts organization dedicated to further cultivating the creative community in memphis. Managing a variety of exhibition, performance, and production spaces, crosstown arts supports artists, musicians, and audiences with a wide range of multidisciplinary and collaborative projects. Crosstown arts founded and managed the renovation of crosstown concourse, a one-million-square-foot mixed-use development in the former sears building. Over 40,000 square feet of space in crosstown concourse is dedicated to the non-profit arts organization's arts and music programming.

Crosstonw arts will design a vision for the revitalization of the "crosstown" neighborhood in memphis, tennessee. Central to the project is the recapture and reuse of the former sears crosstown building (situated in the heart of the neighborhood) as a cultural arts center that would serve as the catalyst for the project.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$563,213$3,811,030▲ $3,247,817
Cash and Non-Interest-Bearing Accounts$26,933$63,192▲ $36,259
Accounts Receivable$6,362$55,219▲ $48,857
Prepaid Expenses and Deferred Charges$33,397$43,704▲ $10,307
Total Assets$629,905$3,973,145▲ $3,343,240
Liabilities
Accounts Payable and Accrued Expenses$56,072$72,501▲ $16,429
Total Liabilities$56,072$72,501▲ $16,429
Net Assets / Fund Balance
Unrestricted Net Assets$573,833$3,900,644▲ $3,326,811
Total Net Assets Fund Balance$573,833$3,900,644▲ $3,326,811
Total Liabilities and Net Assets / Fund Balance$629,905$3,973,145▲ $3,343,240

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,588,082$42,518$2,630,600
Leasehold Improvements$696,172$48,102$744,274
Land$509,400-$509,400
Equipment$17,376$11,162$28,538
Compensation and Service Providers
Top Officer Pay66th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher MinerCo DirectorFT$79,000$12,118$91,118
Todd RichardsonCo DirectorPT$79,000-$79,000

Board Members and Trustees

NameTitle
Barbara L DeansBoard Chair/president
Richard LouVice Chairman
Derwin SisnettDirector
Jay GorneyDirector
Mclean WilsonDirector
Ken SteortsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$4,380,290
Program Service Revenue
$167,552
Investment Income
$0
Other Revenue
$26,846
All Other Contributions
$4,380,290
Change in Net Assets
$3,326,811

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential1$3,092,847Fair Market Value
Total Noncash Contributions1$3,092,847-

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,574,688
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$4,574,688
Total Revenue per Form 990
$4,574,688
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$581,754
Salaries, Compensation, and Employee Benefits$501,323
Grants and Similar Amounts Paid$164,800
Total Fundraising Expense$22,999
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$262,902$5,438$1,813$270,153
Occupancy$184,144$8,312-$192,456
Grants to Domestic Orgs$164,800--$164,800
Current Officers, Directors, Trustees, and Key Employees$110,600$31,600$15,800$158,000
Fees for Services Other$51,959--$51,959
Depreciation Depletion$46,172$1,526$1,526$49,224
Other Employee Benefits$28,916$8,988$2,513$40,417
Payroll Taxes$28,573$2,833$1,347$32,753
Office Expenses$26,695$1,780-$28,475
Information Technology$24,827--$24,827
Insurance$9,051$603-$9,654
Travel$4,694--$4,694
Other Expenses$4,127--$4,127
All Other Expenses$3,420--$3,420
Fees for Services Accounting-$1,624-$1,624
Total Functional Expenses$1,162,174$62,704$22,999$1,247,877

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,247,877
Total Expenses per Audited Statements$1,247,877
Total Expenses per Form 990$1,247,877
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
45-4680011-501(c)(3)The Memphis Center for Food and Faith, Inc. Promotes Education and Action to Better Connect Local Restaurants and Community Food Suppliers to Local Farms and Other Community-based, Food Sourcing-related Economic Development.$162,300
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
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
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, Part VI, Section B, Line 11

“The return preparer provided an electronic copy of the final version of form 990 to the board of directors for review and comments before it was filed.”

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

“Directors are required to update an annual conflict of interest statement as required by the adopted policy. The policy requires a board member to provide relevant information to the full board if the affected board member believes that a potential conflict has arisen with the potential conflict resolved by a vote of the full board exclusive of the member in question.”

Form 990, Part VI, Section B, Line 15

“The board of directors uses independent data, comparison of compensation from similar not for profit organizations and other resources to establish compensation for all employees.”

Form 990, Part VI, Section C, Line 19

“Copies of the forms for public inspection are available upon request.”

FORM 990, PART XI, SECTION C, LINE 2C:

“The process for the governing board overseeing the annual audit and selecting an independent accountant has not changed from the previous year.”

Filing and Contact Details

Filer

EIN
27-1876711
Phone
9015078030

Signing Officer

Name
Barbara L Deans
Title
President
Phone
9015078030
Signed
2015-03-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara Ldeans
Formed
2010
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
11
Volunteers
6

Preparer

Preparer
Richard L Webb CPA
Phone
9016834234
Supplemental Narrative

Additional Explanations

Form 990 General Disclosure Relative to Tax-exempt Status

“On its original form 1023, crosstown arts ['ca'] stated that it would not make grants, loans or other distributions to organizations (part viii, question 13). Ca's exempt purpose is to design a vision for and around the revitalization of the "crosstown" neighborhood in memphis, tennessee. Central to the project is the recapture and reuse of the sears crosstown building as a "vertical urban village." at the time the form 1023 was filed, it was anticipated that ca would not need to make any loans or other distributions to organizations in connection with the project. As the crosstown project has progressed; however, it has become necessary for ca to loan funds to the project to assist with the revitalization of the crosstown neighborhood and the redevelopment and restoration of the sears crosstown building into a "vertical urban village." all such loans will be on such terms as determined by ca's officers and directors and will further ca's exempt purpose to revitalize the crosstown neighborhood, which has been under resourced and disinvested for many years.”

Financial Statement Notes

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america require management of the organization to evaluate tax positions taken by the organization and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service ("irs"). Management of the organization has analyzed the tax positions taken by the organization and has concluded that, as of april 30, 2014, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits in progress for any tax periods. The organization believes it is no longer subject to income tax examinations for years prior to 2011.”

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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/ActivityOrMissionDesc0CROSSTONW ARTS WILL DESIGN A VISION FOR THE REVITALIZATION OF THE "CROSSTOWN" NEIGHBORHOOD IN MEMPHIS, TENNESSEE. CENTRAL TO THE PROJECT IS THE RECAPTURE AND REUSE OF THE FORMER SEARS CROSSTOWN BUILDING (SITUATED IN THE HEART OF THE NEIGHBORHOOD) AS A CULTURAL ARTS CENTER THAT WOULD SERVE AS THE CATALYST FOR THE PROJECT.
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IRS990/MissionDesc0THE ORGANIZATION WILL DESIGN A VISION FOR THE REVITALIZATION OF THE "CROSSTOWN" NEIGHBORHOOD IN MEMPHIS, TENNESSEE THROUGH THE RECAPTURE AND REUSE OF THE FORMER SEARS CROSSTOWN BUILDING AS A VERTICAL URBAN VILLAGE THAT WOULD INLCUDE A UNIQUE BLEND OF CULTURAL ARTS, EDUCATION, MEDICAL, RESIDENTIAL, COMMERCIAL AND RETAIL OPPORTUNITIES THAT WILL ALL SERVE AS THE CATALYST FOR THE PROJECT.
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt026846
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoncashContributionsAmt03092846
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt08312
IRS990/OccupancyGrp/ProgramServicesAmt0184144
IRS990/OccupancyGrp/TotalAmt0192456
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01780
IRS990/OfficeExpensesGrp/ProgramServicesAmt026695
IRS990/OfficeExpensesGrp/TotalAmt028475
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02513
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt08988
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt028916
IRS990/OtherEmployeeBenefitsGrp/TotalAmt040417
IRS990/OtherExpensesGrp/Desc0PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1PROGRAM SUPPLIES
IRS990/OtherExpensesGrp/Desc2MEALS
IRS990/OtherExpensesGrp/Desc3REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/ProgramServicesAmt0179769
IRS990/OtherExpensesGrp/ProgramServicesAmt116865
IRS990/OtherExpensesGrp/ProgramServicesAmt214660
IRS990/OtherExpensesGrp/ProgramServicesAmt34127
IRS990/OtherExpensesGrp/TotalAmt0179769
IRS990/OtherExpensesGrp/TotalAmt116865
IRS990/OtherExpensesGrp/TotalAmt214660
IRS990/OtherExpensesGrp/TotalAmt34127
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt01813
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt05438
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0262902
IRS990/OtherSalariesAndWagesGrp/TotalAmt0270153
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01347
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02833
IRS990/PayrollTaxesGrp/ProgramServicesAmt028573
IRS990/PayrollTaxesGrp/TotalAmt032753
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt033397
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt043704
IRS990/PrincipalOfficerNm0BARBARA LDEANS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL AND FLEA MARKET
IRS990/ProgramServiceRevenueGrp/ExclusionAmt0101602
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt065950
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0167552
IRS990/ProgSrvcAccomActy2Grp/Desc0CROSSTOWN ARTS IS INVOLVED WITH THE DESIGN, IMPLEMENTATION, REUSE AND REDEVELOPMENT OF THE SEARS CROSSTOWN BUILDING AS A VERTICAL URBAN VILLAGE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0177281
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01157258
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt059433
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0234322
IRS990/PYOtherRevenueAmt021853
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0571763
IRS990/PYSalariesCompEmpBnftPaidAmt0313593
IRS990/PYTotalExpensesAmt0607348
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01179111
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt03326811
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt026846
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt065950
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01287443
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01157258
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0380000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0335600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03160301
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0139687
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0139687
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0167552
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt031612
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt05910
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt01650
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0206724
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt03160301
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01287443
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01157258
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0380000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0335600
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03160301
IRS990ScheduleA/TotalSupportAmt03506712
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt02588082
IRS990ScheduleD/BuildingsGrp/DepreciationAmt042518
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02630600
IRS990ScheduleD/EquipmentGrp/BookValueAmt017376
IRS990ScheduleD/EquipmentGrp/DepreciationAmt011162
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt028538
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01247877
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0509400
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0509400
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0696172
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt048102
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0744274
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt04574688
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT OF THE ORGANIZATION TO EVALUATE TAX POSITIONS TAKEN BY THE ORGANIZATION AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS"). MANAGEMENT OF THE ORGANIZATION HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT, AS OF APRIL 30, 2014, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS IN PROGRESS FOR ANY TAX PERIODS. THE ORGANIZATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2011.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03811030
IRS990ScheduleD/TotalExpensesPerForm990Amt01247877
IRS990ScheduleD/TotalRevenuePerForm990Amt04574688
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04574688
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01247877
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0162300
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0THE MEMPHIS CENTER FOR FOOD AND FAITH, INC. PROMOTES EDUCATION AND ACTION TO BETTER CONNECT LOCAL RESTAURANTS AND COMMUNITY FOOD SUPPLIERS TO LOCAL FARMS AND OTHER COMMUNITY-BASED, FOOD SOURCING-RELATED ECONOMIC DEVELOPMENT.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10MEMPHIS CENTER FOR FOOD AND FAITH INC
IRS990ScheduleI/RecipientTable/RecipientEIN0454680011
IRS990ScheduleI/RecipientTable/USAddress/AddressLine106410 POPLAR AVENUE SUITE 720
IRS990ScheduleI/RecipientTable/USAddress/City0MEMPHIS
IRS990ScheduleI/RecipientTable/USAddress/State0TN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode0381194866
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0INTERNALLY PREPARED FINANCIAL STATEMENTS OF THE GRANTEE ARE PERIODICALLY MONITORED TO SUBSTANTIATE APPROPRIATE EXPENDITURES OF GRANT FUNDS ALONG WITH VARIOUS MEETINGS AND CONFERENCES TO MONITOR ACTIVITIES OF THE GRANTEE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/RealEstateResidentialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateResidentialGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/RealEstateResidentialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateResidentialGrp/NoncashContributionsRptF990Amt03092847
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd01
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0CROSSTOWN ARTS RECEIVED CONTRIBUTIONS OF RESIDENTIAL REAL PROPERTY CONSISTING OF THE FOLLOWING: 1- RESIDENTIAL LOT 15- SINGLE FAMILY RESIDENCES 1- DUPLEX FAMILY RESIDENCE 1- TRIPLEX FAMILY RESIDENCE 6- MULTI-UNIT APARTMENT COMPLEXES WITH 128 RENTAL UNITS THE FAIR MARKET VALUE OF THE ABOVE UNITS WERE DETERMINED BY A CERTIFIED REAL ESTATE APPRAISAL FIRM LICENSED BY THE STATE OF TENNESSEE.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE RETURN PREPARER PROVIDED AN ELECTRONIC COPY OF THE FINAL VERSION OF FORM 990 TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENTS BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS ARE REQUIRED TO UPDATE AN ANNUAL CONFLICT OF INTEREST STATEMENT AS REQUIRED BY THE ADOPTED POLICY. THE POLICY REQUIRES A BOARD MEMBER TO PROVIDE RELEVANT INFORMATION TO THE FULL BOARD IF THE AFFECTED BOARD MEMBER BELIEVES THAT A POTENTIAL CONFLICT HAS ARISEN WITH THE POTENTIAL CONFLICT RESOLVED BY A VOTE OF THE FULL BOARD EXCLUSIVE OF THE MEMBER IN QUESTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS USES INDEPENDENT DATA, COMPARISON OF COMPENSATION FROM SIMILAR NOT FOR PROFIT ORGANIZATIONS AND OTHER RESOURCES TO ESTABLISH COMPENSATION FOR ALL EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF THE FORMS FOR PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ON ITS ORIGINAL FORM 1023, CROSSTOWN ARTS ['CA'] STATED THAT IT WOULD NOT MAKE GRANTS, LOANS OR OTHER DISTRIBUTIONS TO ORGANIZATIONS (PART VIII, QUESTION 13). CA'S EXEMPT PURPOSE IS TO DESIGN A VISION FOR AND AROUND THE REVITALIZATION OF THE "CROSSTOWN" NEIGHBORHOOD IN MEMPHIS, TENNESSEE. CENTRAL TO THE PROJECT IS THE RECAPTURE AND REUSE OF THE SEARS CROSSTOWN BUILDING AS A "VERTICAL URBAN VILLAGE." AT THE TIME THE FORM 1023 WAS FILED, IT WAS ANTICIPATED THAT CA WOULD NOT NEED TO MAKE ANY LOANS OR OTHER DISTRIBUTIONS TO ORGANIZATIONS IN CONNECTION WITH THE PROJECT. AS THE CROSSTOWN PROJECT HAS PROGRESSED; HOWEVER, IT HAS BECOME NECESSARY FOR CA TO LOAN FUNDS TO THE PROJECT TO ASSIST WITH THE REVITALIZATION OF THE CROSSTOWN NEIGHBORHOOD AND THE REDEVELOPMENT AND RESTORATION OF THE SEARS CROSSTOWN BUILDING INTO A "VERTICAL URBAN VILLAGE." ALL SUCH LOANS WILL BE ON SUCH TERMS AS DETERMINED BY CA'S OFFICERS AND DIRECTORS AND WILL FURTHER CA'S EXEMPT PURPOSE TO REVITALIZE THE CROSSTOWN NEIGHBORHOOD, WHICH HAS BEEN UNDER RESOURCED AND DISINVESTED FOR MANY YEARS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS FOR THE GOVERNING BOARD OVERSEEING THE ANNUAL AUDIT AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PREVIOUS YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990 GENERAL DISCLOSURE RELATIVE TO TAX-EXEMPT STATUS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, SECTION C, LINE 2C:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine10CROSSTOWN ARTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine11CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine12CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine10CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine11RIVER CITY RENTAL HOUSING LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine12MEMPHIS APARTMENT INVESTMENTS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0260586701
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1261132467
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2261231702
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt03181265
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt20
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd2TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES.
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES.
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt2TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES.
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt026846
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt20
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine10427 N WATKINS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine11427 N WATKINS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine12427 N WATKINS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/City0MEMPHIS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/City1MEMPHIS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/City2MEMPHIS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/State0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/State1TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/State2TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCode038104
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCode138104
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCode238104
IRS990ScheduleR/SupplementalInformationDetail/ExplanationTxt0CROSSTOWN ARTS RECEIVED AS A CONTRIBUTION, CITY IMPACT, LLC, A SINGLE MEMBER LLC, THAT OWNED RIVER CITY RENTAL HOUSING, LLC, A SINGLE MEMBER LLC, AND MEMPHIS APARTMENT INVESTMENTS, LLC, A SINGLE MEMBER LLC. EACH OF THE LLC'S OWNED CERTAIN RESIDENTIAL REAL ESTATE THAT INCLUDED SINGLE FAMILY RESIDENT UNITS AND MULTI-FAMILY RESIDENT UNITS (DUPLEX, TRIPLEX) INCLUDING APARTMENT UNITS. EACH OF THE PROPERTIES WERE APPRAISED BY AN ACCREDITED REAL ESTATE APPRAISER WHICH WAS THE BASIS OF RECORDING THE CONTRIBUTION AS INDICATED ON SCHEDULE M. ALTHOUGH EACH OF THE ENTITIES ARE SEPARATE LEGAL ENTITIES AND ARE DISREGARDED FOR INCOME TAX AND FINANCIAL REPORTING PURPOSES, THE ASSETS AND LIABILITIES ARE MAINTAINED ON THE BOOKS AND RECORDS OF CITY IMPACT, LLC. ACCORDINGLY, THE REVENUE AND ASSETS ARE REPORTED ON SCHEDULE R, PART I, COLUMN (D) AND (E).
IRS990ScheduleR/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE R - PART I -EXPLANATION

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$3,973,145
Liabilities
$72,501
Net assets
$3,900,644
Revenue
$4,574,688
Expenses
$1,247,877
Net income
$3,326,811
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$101$65.1$35.4$5.15$4.83$0.32
2024Detailed filing. Detailed filing data is available for this year.$100$64.9$35.4$4.86$5.49$0.62
2023Detailed filing. Detailed filing data is available for this year.$109$84.0$25.4$4.89$6.05$1.17
2022Detailed filing. Detailed filing data is available for this year.$87.2$60.7$26.5$20.0$5.75$14.3
2021Detailed filing. Detailed filing data is available for this year.$52.3$40.6$11.6$3.68$5.45$1.77
2020Detailed filing. Detailed filing data is available for this year.$54.1$41.0$13.1$4.23$6.82$2.59
2019Detailed filing. Detailed filing data is available for this year.$56.9$41.4$15.6$6.95$7.07$0.12
2018Detailed filing. Detailed filing data is available for this year.$56.7$41.0$15.7$8.61$4.63$3.99
2017Detailed filing. Detailed filing data is available for this year.$27.0$15.3$11.7$7.11$4.10$3.01
2016Detailed filing. Detailed filing data is available for this year.$25.0$16.5$8.47$3.25$4.33$1.08
2015Detailed filing. Detailed filing data is available for this year.$24.8$13.0$11.9$11.3$3.34$8.00
2014Detailed filing. Detailed filing data is available for this year.$3.97$0.07$3.90$4.57$1.25$3.33
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.63$0.06$0.57$0.61
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$0.35
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.00$0.00$0.00$0.34