Civic Intelligence

Crosstown Arts

990 • Fiscal year 2019 • EIN 27-1876711

May 01, 2018 to Apr 30, 2019 • Filed on Oct 12, 2020

Organization ProfileWWW.CROSSTOWNARTS.ORG

View Organization Page

1350 Concourse Avenue No 280Memphis, TN 38104

(901) 507-8030

Siviq Scores

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Balance Sheet

Assets

Up

$56,939,544

Up $212,848 (+0.4%) from 2018

Net Assets

Down

$15,673,846

Down $27,063 (-0.2%) from 2018

Liabilities

Up

$41,265,698

Up $239,911 (+0.6%) from 2018

Revenue And Expenses

Revenue

Down

$6,520,320

Down $2,094,561 (-24%) from 2018

Expenses

Up

$6,547,383

Up $1,922,341 (+42%) from 2018

Net Income

Down

-$27,063

Down $4,016,902 (-101%) from 2018

Historical Trend

Balance Sheet Trend

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 2019: $56,939,544Liabilities 2019: $41,265,698Net Assets 2019: $15,673,8462019Assets 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

2019

Assets$56,939,544
Liabilities$41,265,698
Net Assets$15,673,846
Open 2019 Filing

Operations Trend

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 2019: $6,520,320Expenses 2019: $6,547,383Net Income 2019: -$27,0632019Revenue 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

2019

Revenue$6,520,320
Expenses$6,547,383
Net Income-$27,063
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2018 to Apr 30, 2019
Signed
Oct 12, 2020
Return Version
2018v3.2
Gross Receipts
$6,939,601
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.

Crosstown arts is a contemporary arts organization dedicated to further cultivating the creative community in memphis. We provide resources and create opportunities and experiences to inspire, support, and connect a diverse range of creative people, projects, and audiences. Crosstown arts is a founding partner, co-developer, and tenant of crosstown concourse, the former sears crosstown building.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$29,762,089$30,255,578▲ $493,489
Land, Buildings, and Equipment, Net$9,259,850$21,816,104▲ $12,556,254
Cash and Non-Interest-Bearing Accounts$5,435,906$1,994,553▼ $3,441,353
Pledges and Grants Receivable$508,000$1,231,225▲ $723,225
Accounts Receivable$187,540$179,173▼ $8,367
Savings and Temporary Cash Investments$159,205$159,205→ $0
Prepaid Expenses and Deferred Charges$61,692$142,972▲ $81,280
Inventories for Sale or Use-$5,437-
Total Assets$56,726,696$56,939,544▲ $212,848
Other Assets Total$11,352,414$1,155,297▼ $10,197,117
Liabilities
Unsecured Notes Loans Payable$23,255,899$22,970,165▼ $285,734
Deferred Revenue$11,284,289$11,777,778▲ $493,489
Other Liabilities$4,789,870$6,060,816▲ $1,270,946
Accounts Payable and Accrued Expenses$1,695,729$456,939▼ $1,238,790
Total Liabilities$41,025,787$41,265,698▲ $239,911
Net Assets / Fund Balance
Unrestricted Net Assets$14,330,539$13,415,915▼ $914,624
Temporarily Rstr Net Assets$1,370,370$2,257,931▲ $887,561
Total Net Assets Fund Balance$15,700,909$15,673,846▼ $27,063
Total Liabilities and Net Assets / Fund Balance$56,726,696$56,939,544▲ $212,848

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$14,545,594$813,250$15,358,844
Leasehold Improvements$6,217,059$927,035$7,144,094
Equipment$562,519$252,763$815,282
Land$488,400-$488,400
Other Land Buildings$2,532$701$3,233
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher MinerCo-directorFT$91,094$17,527$108,621
Todd RichardsonCo-directorFT$80,580-$80,580

Board Members and Trustees

NameTitle
Barbara L DeansChair/president
Richard LouVice Chair
Derwin SisnettTrustee
Jay GorneyTrustee
Mclean WilsonTrustee
Ken SteortsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$4,716,846
Program Service Revenue
$808,440
Investment Income
$616,774
Other Revenue
$378,260
All Other Contributions
$4,716,846
Change in Net Assets
$-27,063

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,520,320
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$710,220
Total Revenue per Audited Statements
$7,230,540
Total Revenue per Form 990
$6,520,320
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,234,108
Salaries, Compensation, and Employee Benefits$2,313,275
Total Fundraising Expense$143,220
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,495,653$262,046$58,575$1,816,274
Interest$1,193,309$10,669-$1,203,978
Occupancy$699,834$152,222-$852,056
Depreciation Depletion$549,338$166,378-$715,716
Fees for Services Other$267,595$12,171$74,550$354,316
Other Employee Benefits$135,885$35,242$5,614$176,741
Current Officers, Directors, Trustees, and Key Employees$80,580$91,094-$171,674
Payroll Taxes$118,087$26,018$4,481$148,586
Office Expenses-$136,279-$136,279
Insurance-$108,986-$108,986
Other Expenses$39,474$41,915-$81,389
Fees for Services Accounting-$46,423-$46,423
All Other Expenses$24,401$17,837-$42,238
Advertising$29,286--$29,286
Travel$21,566--$21,566
Fees for Services Legal-$11,135-$11,135
Total Functional Expenses$5,191,602$1,212,561$143,220$6,547,383

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,257,603
Expenses per Audited Statements$6,547,383
Total Expenses per Form 990$6,547,383
Expenses Not Reported on Form 990$710,220
Expenses Not Reported on Financial Statements$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
Accrued Interest Payable$3,989,264
Lease Incentive Liability$2,019,665
Deferred Rent$51,887
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“A copy is sent via email to the board for review and approval.”

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”

Filing and Contact Details

Filer

Filer Name
Crosstown Arts
EIN
27-1876711
Phone
9015078030
Address
1350 CONCOURSE AVENUE NO 280, MEMPHIS, TN 38104

Signing Officer

Name
Richard Lou
Title
President
Phone
9015078030
Signed
2020-10-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Lou
Formed
2010
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
93
Volunteers
72

Preparer

Firm
Cbiz Mhm LLC
Address
5100 POPLAR AVENUE THIRTIETH FLOOR, MEMPHIS, TN 38137
Preparer
Kathy Pennella
Phone
9016855575
Supplemental Narrative

Additional Explanations

Amended Return

“Return is being amended due to a complete audit of the financials that was not available at the time the original form was filed. All forms and schedules have been updated to reflect audited amounts.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses offsetting rental income 166,378. Loss on interest rate swap 300,939. Cost of goods sold 242,903.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Depreciation expense on rental property 166,378. Loss on interest rate swap 300,939. Cost of goods sold 242,903.”

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IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0153861
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0267517
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0267517
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0152222
IRS990/OccupancyGrp/ProgramServicesAmt0699834
IRS990/OccupancyGrp/TotalAmt0852056
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0136279
IRS990/OfficeExpensesGrp/TotalAmt0136279
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt011352414
IRS990/OtherAssetsTotalGrp/EOYAmt01155297
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05614
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt035242
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0135885
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0176741
IRS990/OtherExpensesGrp/Desc0DIRECT PROGRAMING EXPEN
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2REAL ESTATE TAXES
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt094146
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt141915
IRS990/OtherExpensesGrp/ProgramServicesAmt0387494
IRS990/OtherExpensesGrp/ProgramServicesAmt1149100
IRS990/OtherExpensesGrp/ProgramServicesAmt239474
IRS990/OtherExpensesGrp/TotalAmt0387494
IRS990/OtherExpensesGrp/TotalAmt1149100
IRS990/OtherExpensesGrp/TotalAmt294146
IRS990/OtherExpensesGrp/TotalAmt381389
IRS990/OtherLiabilitiesGrp/BOYAmt04789870
IRS990/OtherLiabilitiesGrp/EOYAmt06060816
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0INSURANCE PROCEEDS
IRS990/OtherRevenueMiscGrp/Desc1INTEREST RATE SWAP LOS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0257821
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1-300939
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0257821
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1-300939
IRS990/OtherRevenueTotalAmt0-43118
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt058575
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0262046
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01495653
IRS990/OtherSalariesAndWagesGrp/TotalAmt01816274
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt029762089
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt030255578
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04481
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt026018
IRS990/PayrollTaxesGrp/ProgramServicesAmt0118087
IRS990/PayrollTaxesGrp/TotalAmt0148586
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0508000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01231225
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt061692
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0142972
IRS990/PrincipalOfficerNm0RICHARD LOU
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1DEVELOPMENT FEE
IRS990/ProgramServiceRevenueGrp/Desc2EVENT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0555904
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1200000
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt252536
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0555904
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1200000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt252536
IRS990/ProgSrvcAccomActy2Grp/Desc0CROSSTOWN ARTS OFFERS MULTIDISCIPLINARY RESIDENCIES IN MEMPHIS, TN, TO VISITING AND MEMPHIS-BASED ARTISTS AND CURATORS, WORKING IN ANY CREATIVE DISCIPLINE INCLUDING VISUAL AND PERFORMING ARTS, MUSIC, FILM, AND WRITING IN ALL GENRES. ALL RESIDENCIES INCLUDE A PRIVATE STUDIO WORKSPACE. IN ADDITION TO A PRIVATE PRACTICE SPACE, MUSICIAN RESIDENCIES INCLUDE ACCESS TO A SHARED, INFORMAL RECORDING STUDIO WITH STANDARD RECORDING EQUIPMENT, SOFTWARE AND A BASIC BACKLINE. RESIDENTS ARE PROVIDED MEALS FIVE DAYS A WEEK IN THE CAFE AT CROSSTOWN ARTS. LIVE/WORK RESIDENCIES ALSO INCLUDE A PRIVATE BEDROOM/BATHROOM NEXT TO A COMMON LIVING AREA AND KITCHEN. ALL RESIDENCIES ARE OFFERED AT NO COST TO PARTICIPANTS. ALL RESIDENTS ARE ASKED TO PARTICIPATE IN A LIMITED NUMBER OF PUBLIC ENGAGEMENT ACTIVITIES (SUCH AS INFORMAL ARTIST TALKS, PUBLIC PERFORMANCE/PROJECTS, AND OPEN STUDIO EVENTS) WHILE IN MEMPHIS. THREE-MONTH RESIDENCY SESSIONS ARE OFFERED EACH YEAR. THREE-WEEK SESSIONS ARE AVAILABLE IN THE SUMMER.
IRS990/ProgSrvcAccomActy3Grp/Desc0CROSSTOWN ARTS SHARED ART MAKING IS A WORKSPACE THAT PROVIDES ANYONE FROM PROFESSIONALS TO HOBBYISTS WITH COMMON ACCESS TO SHARED ART-MAKING FACILITIES AND EQUIPMENT IN DIGITAL ARTS, MUSIC, WOODWORKING, PRINTMAKING, AND PHOTOGRAPHY. MEMBERS SHARE A COMMON SPACE TO GROW THEIR CREATIVE PRACTICE WITH ACCESS TO HIGH-END EQUIPMENT, FACILITIES, INSTRUMENTS, AND WORK AREAS, AND A SUPPORTIVE ENVIRONMENT WITH OTHERS INTERESTED IN MAKING AND DISCOVERING. SHARED ART MAKING IS OPEN TO EVERYONE AT ANY LEVEL OF EXPERTISE OR EXPERIENCE VIA A MONTHLY MEMBERSHIP PROGRAM
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt06312915
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0543425
IRS990/PYOtherExpensesAmt03225923
IRS990/PYOtherRevenueAmt01201626
IRS990/PYProgramServiceRevenueAmt0556915
IRS990/PYRevenuesLessExpensesAmt03989839
IRS990/PYSalariesCompEmpBnftPaidAmt01399119
IRS990/PYTotalExpensesAmt04625042
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt08614881
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-27063
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0267517
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0159205
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0159205
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt04716846
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt06312915
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02849176
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01061592
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt07216840
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt022157369
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01038648
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01003651
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0613338
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0584387
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0502599
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt03742623
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt02391439
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.85550
IRS990ScheduleA/PublicSupportPY170Pct00.88090
IRS990ScheduleA/PublicSupportTotal170Amt022157369
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt04716846
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt06312915
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02849176
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01061592
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt07216840
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt022157369
IRS990ScheduleA/TotalSupportAmt025899992
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/BookValueAmt014545594
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0813250
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt015358844
IRS990ScheduleD/EquipmentGrp/BookValueAmt0562519
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0252763
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0815282
IRS990ScheduleD/ExpensesNotReportedAmt0710220
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt06547383
IRS990ScheduleD/LandGrp/BookValueAmt0488400
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0488400
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06217059
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0927035
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt07144094
IRS990ScheduleD/OtherExpensesIncludedAmt0710220
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02532
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0701
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03989264
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12019665
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt251887
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE INCENTIVE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED RENT
IRS990ScheduleD/OtherRevenueAmt0710220
IRS990ScheduleD/RevenueNotReportedAmt0710220
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06520320
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL EXPENSES OFFSETTING RENTAL INCOME 166,378. LOSS ON INTEREST RATE SWAP 300,939. COST OF GOODS SOLD 242,903.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DEPRECIATION EXPENSE ON RENTAL PROPERTY 166,378. LOSS ON INTEREST RATE SWAP 300,939. COST OF GOODS SOLD 242,903.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt021816104
IRS990ScheduleD/TotalExpensesPerForm990Amt06547383
IRS990ScheduleD/TotalLiabilityAmt06060816
IRS990ScheduleD/TotalRevenuePerForm990Amt06520320
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07230540
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07257603
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY IS SENT VIA EMAIL TO THE BOARD FOR REVIEW AND APPROVAL.
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/ExplanationTxt4RETURN IS BEING AMENDED DUE TO A COMPLETE AUDIT OF THE FINANCIALS THAT WAS NOT AVAILABLE AT THE TIME THE ORIGINAL FORM WAS FILED. ALL FORMS AND SCHEDULES HAVE BEEN UPDATED TO REFLECT AUDITED AMOUNTS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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/FormAndLineReferenceDesc4AMENDED RETURN
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0CROSSTOWN ARTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt3CROSSTOWN ARTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1RIVER CITY RENTAL HOUSING LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2MEMPHIS APARTMENT INVESTMENTS LLC

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$56,939,544
Liabilities
$41,265,698
Net assets
$15,673,846
Revenue
$6,520,320
Expenses
$6,547,383
Net income
-$27,063
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
2019Detailed filing. Detailed filing data is available for this year.$56.9$41.3$15.7$6.52$6.55$0.03
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