Civic Intelligence

Crosstown Arts

990 • Fiscal year 2018 • EIN 27-1876711

May 01, 2017 to Apr 30, 2018 • Filed on Mar 02, 2020

1350 Concourse Avenue No 280Memphis, TN 38104

(901) 507-8030

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.72x

Higher debt load relative to assets than 82% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Liabilities / Revenue

93rd percentile

4.76x

Higher debt load relative to revenue than 93% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Net Margin

90th percentile

46%

Higher net margin than 90% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Top Officer Pay

7th percentile

$108,495

Higher top officer pay than 7% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2018

Asset Growth

98th percentile

110%

Faster asset growth than 98% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Revenue Growth

79th percentile

21%

Faster revenue growth than 79% of similar nonprofits.

2018 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2017 to 2018

Assets

Up

$56,726,696

Up $29,730,576 (+110%) from 2017

Net Assets

Up

$15,700,909

Up $3,989,839 (+34%) from 2017

Liabilities

Up

$41,025,787

Up $25,740,737 (+168%) from 2017

Revenue

Up

$8,614,881

Up $1,500,610 (+21%) from 2017

Expenses

Up

$4,625,042

Up $523,506 (+13%) from 2017

Net Income

Up

$3,989,839

Up $977,104 (+32%) from 2017

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 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

2018

Assets$56,726,696
Liabilities$41,025,787
Net Assets$15,700,909

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 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

2018

Revenue$8,614,881
Expenses$4,625,042
Net Income$3,989,839
Jump To
Filing Snapshot
Filing Period
May 1, 2017 to Apr 30, 2018
Signed
Mar 2, 2020
Return Version
2017v2.3
Gross Receipts
$8,804,580
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 has designed 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 will serve as the catalyst for the project.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$18,477,800$29,762,089▲ $11,284,289
Land, Buildings, and Equipment, Net$4,666,865$9,259,850▲ $4,592,985
Cash and Non-Interest-Bearing Accounts$3,321,751$5,435,906▲ $2,114,155
Pledges and Grants Receivable-$508,000-
Accounts Receivable$143,321$187,540▲ $44,219
Savings and Temporary Cash Investments-$159,205-
Prepaid Expenses and Deferred Charges$59,943$61,692▲ $1,749
Total Assets$26,996,120$56,726,696▲ $29,730,576
Other Assets Total$326,440$11,352,414▲ $11,025,974
Liabilities
Unsecured Notes Loans Payable$13,241,369$23,255,899▲ $10,014,530
Deferred Revenue$4,925$11,284,289▲ $11,279,364
Other Liabilities$1,863,666$4,789,870▲ $2,926,204
Accounts Payable and Accrued Expenses$175,090$1,695,729▲ $1,520,639
Total Liabilities$15,285,050$41,025,787▲ $25,740,737
Net Assets / Fund Balance
Unrestricted Net Assets$11,117,536$14,330,539▲ $3,213,003
Temporarily Rstr Net Assets$593,534$1,370,370▲ $776,836
Total Net Assets Fund Balance$11,711,070$15,700,909▲ $3,989,839
Total Liabilities and Net Assets / Fund Balance$26,996,120$56,726,696▲ $29,730,576

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,259,694$458,475$6,718,169
Buildings$1,952,256$545,844$2,498,100
Equipment$512,820$107,282$620,102
Land$531,900-$531,900
Other Land Buildings$3,180$54$3,234
Other Assets Org$10,267,476--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher MinerCo-directorFT$91,795$16,700$108,495
Todd RichardsonCo-directorFT$80,465-$80,465

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
$6,312,915
Program Service Revenue
$556,915
Investment Income
$543,425
Other Revenue
$1,201,626
All Other Contributions
$6,312,915
Change in Net Assets
$3,989,839

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,614,881
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$174,868
Total Revenue per Audited Statements
$8,789,749
Total Revenue per Form 990
$8,614,881
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,225,923
Salaries, Compensation, and Employee Benefits$1,399,119
Total Fundraising Expense$33,724
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$839,549$175,459$16,093$1,031,101
Interest$885,445$7,487-$892,932
Occupancy$466,989$138,820-$605,809
Depreciation Depletion$368,979$28,377-$397,356
Fees for Services Other$148,634$17,370$16,400$182,404
Current Officers, Directors, Trustees, and Key Employees$80,465$99,152-$179,617
Office Expenses$33,690$112,476-$146,166
Payroll Taxes$85,135$21,008$1,231$107,374
Insurance-$89,736-$89,736
Other Employee Benefits$50,813$30,214-$81,027
Advertising$54,646--$54,646
Fees for Services Accounting-$46,650-$46,650
Travel$37,580--$37,580
Fees for Services Legal-$25,527-$25,527
Other Expenses$10,591$9,875-$9,875
Total Functional Expenses$3,743,930$847,388$33,724$4,625,042

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,799,910
Expenses per Audited Statements$4,625,042
Total Expenses per Form 990$4,625,042
Expenses Not Reported on Form 990$174,868
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$2,889,119
Lease Incentive Liability$1,900,751
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 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
Barbara L Deans
Title
President
Phone
9015078030
Signed
2020-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Barbara L Deans
Formed
2010
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
36
Volunteers
20

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:

Loss on disposal of assets classified as expense 71,715. Rental expenses offsetting rental income 103,153.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Loss on disposal of asset 71,715. Depreciation expense on rental property 103,153.

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IRS990/MissionDesc0THE ORGANIZATION HAS DESIGNED 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 INCLUDES 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/TotalRevenueColumnAmt0285358
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0138820
IRS990/OccupancyGrp/ProgramServicesAmt0466989
IRS990/OccupancyGrp/TotalAmt0605809
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0112476
IRS990/OfficeExpensesGrp/ProgramServicesAmt033690
IRS990/OfficeExpensesGrp/TotalAmt0146166
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0326440
IRS990/OtherAssetsTotalGrp/EOYAmt011352414
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt030214
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt050813
IRS990/OtherEmployeeBenefitsGrp/TotalAmt081027
IRS990/OtherExpensesGrp/Desc0DIRECT PROGRAMING EXPEN
IRS990/OtherExpensesGrp/Desc1UTILITIES AND TELEPHONE
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc3BAD DEBT
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt036432
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt18805
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt29875
IRS990/OtherExpensesGrp/ProgramServicesAmt0661718
IRS990/OtherExpensesGrp/ProgramServicesAmt119696
IRS990/OtherExpensesGrp/ProgramServicesAmt210591
IRS990/OtherExpensesGrp/TotalAmt0661718
IRS990/OtherExpensesGrp/TotalAmt156128
IRS990/OtherExpensesGrp/TotalAmt219396
IRS990/OtherExpensesGrp/TotalAmt39875
IRS990/OtherLiabilitiesGrp/BOYAmt01863666
IRS990/OtherLiabilitiesGrp/EOYAmt04789870
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0INSURANCE PROCEEDS
IRS990/OtherRevenueMiscGrp/Desc1INTEREST RATE SWAP GAI
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0561801
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1354467
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0561801
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1354467
IRS990/OtherRevenueTotalAmt0916268
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt016093
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0175459
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0839549
IRS990/OtherSalariesAndWagesGrp/TotalAmt01031101
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt018477800
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt029762089
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01231
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt021008
IRS990/PayrollTaxesGrp/ProgramServicesAmt085135
IRS990/PayrollTaxesGrp/TotalAmt0107374
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0508000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt059943
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt061692
IRS990/PrincipalOfficerNm0BARBARA L DEANS
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL & FLEA MARKET
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0556915
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0556915
IRS990/ProgSrvcAccomActy2Grp/Desc0CROSSTOWN ARTS IS INVOLVED WITH THE DESIGN, IMPLEMENTATION, REUSE, AND REDEVELOPMENT OF THE SEARS CROSSTOWN BUILDING AS A VERTICAL URBAN VILLAGE. CROSSTOWN ARTS IS RESPONSIBLE FOR LEADING THE DEVELOPMENT TO CONSTRUCTION COMPLETION.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02849176
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0216761
IRS990/PYOtherExpensesAmt03165601
IRS990/PYOtherRevenueAmt0564280
IRS990/PYProgramServiceRevenueAmt03484054
IRS990/PYRevenuesLessExpensesAmt03012735
IRS990/PYSalariesCompEmpBnftPaidAmt0935935
IRS990/PYTotalExpensesAmt04101536
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07114271
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt03989839
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0285358
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0159205
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt06312915
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02849176
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01061592
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt07216840
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt04380290
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt021820813
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01003651
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0613338
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0584387
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0502599
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0241289
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt02945264
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01186234
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.88090
IRS990ScheduleA/PublicSupportPY170Pct00.89570
IRS990ScheduleA/PublicSupportTotal170Amt021816135
IRS990ScheduleA/SubstantialContributorsTotAmt04678
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt06312915
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02849176
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01061592
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt07216840
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt04380290
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt021820813
IRS990ScheduleA/TotalSupportAmt024766077
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/BookValueAmt01952256
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0545844
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02498100
IRS990ScheduleD/EquipmentGrp/BookValueAmt0512820
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0107282
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0620102
IRS990ScheduleD/ExpensesNotReportedAmt0174868
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt04625042
IRS990ScheduleD/LandGrp/BookValueAmt0531900
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0531900
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt06259694
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0458475
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06718169
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0423473
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt19998
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2651467
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt310267476
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ACCRUED INTEREST RECEIVABLE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DEPOSITS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2INTEREST RATE SWAP
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3CONSTRUCTION IN PROGRESS
IRS990ScheduleD/OtherExpensesIncludedAmt0174868
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03180
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt054
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03234
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt02889119
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11900751
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE INCENTIVE LIABILITY
IRS990ScheduleD/OtherRevenueAmt0174868
IRS990ScheduleD/RevenueNotReportedAmt0174868
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt08614881
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0LOSS ON DISPOSAL OF ASSETS CLASSIFIED AS EXPENSE 71,715. RENTAL EXPENSES OFFSETTING RENTAL INCOME 103,153.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1LOSS ON DISPOSAL OF ASSET 71,715. DEPRECIATION EXPENSE ON RENTAL PROPERTY 103,153.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09259850
IRS990ScheduleD/TotalBookValueOtherAssetsAmt011352414
IRS990ScheduleD/TotalExpensesPerForm990Amt04625042
IRS990ScheduleD/TotalLiabilityAmt04789870
IRS990ScheduleD/TotalRevenuePerForm990Amt08614881
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt08789749
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt04799910
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
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt3LOST IN THE COSIMOS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0260586701
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1261132467
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2261231702
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt02636274
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd2TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd3TN
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES

Document Assets

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Filings

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