Civic Intelligence

Crosstown Arts

990 • Fiscal year 2021 • EIN 27-1876711

May 01, 2020 to Apr 30, 2021 • Filed on Mar 14, 2022

Organization ProfileWWW.CROSSTOWNARTS.ORG

View Organization Page

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

86th percentile

0.78x

Higher debt load relative to assets than 86% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

11.03x

Higher debt load relative to revenue than 97% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Net Margin

4th percentile

-48%

Higher net margin than 4% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Top Officer Pay

9th percentile

$111,964

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2021

Asset Growth

10th percentile

-3.4%

Faster asset growth than 10% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Revenue Growth

13th percentile

-13%

Faster revenue growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$52,274,330

Down $1,851,543 (-3.4%) from 2020

Net Assets

Down

$11,635,525

Down $1,447,441 (-11%) from 2020

Liabilities

Down

$40,638,805

Down $404,102 (-1.0%) from 2020

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin4th percentile

Revenue

Down

$3,683,328

Down $544,459 (-13%) from 2020

Expenses

Down

$5,451,196

Down $1,367,471 (-20%) from 2020

Net Income

Up

-$1,767,868

Up $823,012 (+32%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth10th 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

2021

Assets$52,274,330
Liabilities$40,638,805
Net Assets$11,635,525
Open 2021 Filing

Operations Trend

Revenue Growth13th percentile

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

2021

Revenue$3,683,328
Expenses$5,451,196
Net Income-$1,767,868
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2020 to Apr 30, 2021
Signed
Mar 14, 2022
Return Version
2020v4.2
Gross Receipts
$4,167,771
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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$30,255,578$30,255,578→ $0
Land, Buildings, and Equipment, Net$20,028,495$18,917,176▼ $1,111,319
Cash and Non-Interest-Bearing Accounts$2,054,033$1,053,492▼ $1,000,541
Pledges and Grants Receivable$404,797$473,261▲ $68,464
Prepaid Expenses and Deferred Charges$79,367$100,225▲ $20,858
Accounts Receivable$87,866--
Inventories for Sale or Use$9,470$9,438▼ $32
Total Assets$54,125,873$52,274,330▼ $1,851,543
Other Assets Total$1,206,267$1,465,160▲ $258,893
Liabilities
Unsecured Notes Loans Payable$22,990,483$22,399,062▼ $591,421
Deferred Revenue$11,777,778$11,777,778→ $0
Other Liabilities$6,052,588$6,253,634▲ $201,046
Accounts Payable and Accrued Expenses$222,058$208,331▼ $13,727
Total Liabilities$41,042,907$40,638,805▼ $404,102
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,285,709$11,035,026▼ $1,250,683
Net Assets With Donor Restrictions$797,257$600,499▼ $196,758
Total Net Assets Fund Balance$13,082,966$11,635,525▼ $1,447,441
Total Liabilities and Net Assets / Fund Balance$54,125,873$52,274,330▼ $1,851,543

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,436,803$1,548,520$14,985,323
Leasehold Improvements$4,944,812$1,889,127$6,833,939
Equipment$260,512$572,272$832,784
Land$273,810-$273,810
Other Land Buildings$1,239$1,994$3,233
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher MinerCo-directorFT$99,467$12,497$111,964

Board Members and Trustees

NameTitle
Richard LouChair
Barbara L DeansTrustee
Derwin SisnettTrustee
Mclean WilsonTrustee
Ken SteortsSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,863,160
Program Service Revenue
$512,169
Investment Income
$376,302
Other Revenue
$-68,303
All Other Contributions
$1,828,662
Change in Net Assets
$-1,767,868

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,683,328
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$804,870
Total Revenue per Audited Statements
$4,488,198
Total Revenue per Form 990
$3,683,328
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,585,220
Salaries, Compensation, and Employee Benefits$1,865,976
Total Fundraising Expense$50,318
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,203,120$282,029$11,340$1,496,489
Interest$1,131,647$4,772-$1,136,419
Depreciation Depletion$983,833--$983,833
Occupancy$569,258$151,691-$720,949
Fees for Services Other$185,058$96,536-$281,594
Other Employee Benefits$121,229$50,385$3,022$174,636
Advertising$104,039-$19,283$123,322
Current Officers, Directors, Trustees, and Key Employees$67,179$33,589$11,196$111,964
Payroll Taxes$82,887--$82,887
Office Expenses-$61,127-$61,127
Insurance-$59,152-$59,152
Fees for Services Accounting-$18,450-$18,450
Other Expenses$14,327$995$548$15,322
Conferences and Meetings$3,293$3,461-$6,754
Total Functional Expenses$4,632,769$768,109$50,318$5,451,196

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,935,639
Expenses per Audited Statements$5,451,196
Total Expenses per Form 990$5,451,196
Expenses Not Reported on Form 990$484,443
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$4,236,944
Lease Incentive Liability$1,742,910
Interest Rate Swap Liability$207,434
Security Deposits$53,965
Deferred Rent$12,381
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
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, prior to filing.”

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
2022-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Lou
Formed
2010
Legal Domicile
Tn
Voting Board Members
5
Independent Board Members
5
Employees
69
Volunteers
243

Preparer

Firm
Cbiz Mhm LLC
Address
500 BOYLSTON STREET, BOSTON, MA 02116
Preparer
Charles N Ciccone
Phone
6177610600
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

“Gain on interest rate swap 320,427.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses offsetting rental income 283,954. Cost of goods sold 200,489. Gain on interest rate swap 320,427.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Rental expenses offsetting rental income 283,954. Cost of goods sold 200,489.”

Raw XML AppendixShowing 400 of 524 raw XML fields

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/ActivityOrMissionDesc0CROSSTOWN 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.
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IRS990/MissionDesc0CROSSTOWN 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/OfficeExpensesGrp/TotalAmt061127
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc0DIRECT PROGRAMING EXP.
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSE
IRS990/OtherExpensesGrp/Desc3REPAIRS AND MAINTENANCE
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IRS990/OtherExpensesGrp/FundraisingAmt1548
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1995
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IRS990/OtherExpensesGrp/ProgramServicesAmt144902
IRS990/OtherExpensesGrp/ProgramServicesAmt214812
IRS990/OtherExpensesGrp/ProgramServicesAmt314327
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IRS990/OtherExpensesGrp/TotalAmt149831
IRS990/OtherExpensesGrp/TotalAmt221282
IRS990/OtherExpensesGrp/TotalAmt315322
IRS990/OtherLiabilitiesGrp/BOYAmt06052588
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt011340
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0282029
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IRS990/OtherSalariesAndWagesGrp/TotalAmt01496489
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt030255578
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt082887
IRS990/PayrollTaxesGrp/TotalAmt082887
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0404797
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0473261
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt079367
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0100225
IRS990/PrincipalOfficerNm0RICHARD LOU
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/Desc0CONCOURSE REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1PROGRAM SERVICES
IRS990/ProgramServiceRevenueGrp/Desc2EVENT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0312565
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1197486
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt22118
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0312565
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1197486
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt22118
IRS990/ProgSrvcAccomActy2Grp/Desc0CROSSTOWN ARTS MANAGES A VARIETY OF MULTIDISCIPLINARY AND COLLABORATIVE PRODUCTION SPACES THAT ARE THE CORE ELEMENTS OF THE RESIDENCY PROGRAM, WHICH HOSTS OVER 60 MEMPHIS-BASED AND VISITING ARTISTS AND MUSICIANS, WORKING IN ANY MEDIUM, EACH YEAR. THE RESIDENCY PROGRAM OFFERS ACCEPTED RESIDENTS THE GIFT OF UNINTERRUPTED TIME AND SPACE TO WORK ON THEIR CREATIVE PROJECTS BY PROVIDING STUDIO WORK SPACES, SEPARATE INDIVIDUAL AND FAMILY RESIDENTIAL HOUSING VIA ON-SITE APARTMENTS, AND MEALS, AT NO COST TO RESIDENTS. THESE ARTISTS, MUSICIANS, COMPOSERS, PHOTOGRAPHERS, FILMMAKERS, WRITERS, AND DANCERS ARE ABLE TO SPEND DEDICATED TIME ON THEIR WORK, IN WHATEVER CAPACITY THEY CHOOSE, WHILE PARTICIPATING IN THE RESIDENCY PROGRAM. NO EXHIBITIONS OR PERFORMANCES ARE REQUIRED OF THE RESIDENTS, BUT THEY ARE INVITED TO SHARE THEIR WORK THROUGH ARTIST TALKS AND A PUBLIC OPEN STUDIO NIGHT DURING EACH RESIDENCY SESSION.PARTICIPANTS IN THE RESIDENCY PROGRAM HAVE ACCESS TO PRODUCTION RESOURCES AND FACILITIES THAT INCLUDE A FULL-SCALE WOODSHOP, A CNC MACHINE, A LASER CUTTER, LARGE-FORMAT DIGITAL PRINTERS, HIGH-END SCANNERS, DIGITAL LABS WITH ALL MAJOR MUSIC/SOUND/DESIGN/VIDEO EDITING SOFTWARE, SCREEN PRINTING, AND MORE. THESE PRODUCTION RESOURCES ARE ALSO AVAILABLE TO ANY NON-RESIDENT ARTISTS AND MUSICIANS IN MEMPHIS FOR A LOW MONTHLY FEE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0606818
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt034691
IRS990/ProgSrvcAccomActy3Grp/Desc0CROSSTOWN ARTS CREATES A WIDE RANGE OF PUBLIC PROGRAMMING IN AND AROUND CROSSTOWN CONCOURSE TO HELP REVITALIZE MEMPHIS' CROSSTOWN NEIGHBORHOOD. THIS PUBLIC PROGRAMMING INCLUDES ONGOING FREE, LARGE-SCALE PUBLIC EVENTS THROUGHOUT THE YEAR IN CROSSTOWN CONCOURSE'S OUTDOOR PUBLIC PLAZA AND INDOOR PUBLIC ATRIUM SPACES, AS WELL AS AT THE CROSSTOWN ARTS-OWNED AND OPERATED ART BAR AND CAFE, WHICH PROVIDE CRAFT COCKTAILS AND COFFEE/PASTRIES IN QUIET SETTINGS THAT ARE INTENTIONALLY DESIGNED TO FOSTER CONVERSATION AND CONNECTIVITY, OFTEN IN THE CONTEXT OF ART/MUSIC SHOWS HAPPENING IN THE NEARBY GALLERIES AND LIVE MUSIC VENUES. PUBLIC EVENTS AT CROSSTOWN ARTS ARE ATTENDED BY THOUSANDS OF PEOPLE THROUGHOUT THE YEAR.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0310102
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0313265
IRS990/ProgSrvcAccomActyOtherGrp/Desc0NEIGHBORDOOD, DEPRECIATION, INTEREST EXPENSE
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt03054971
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0-38106
IRS990/ProhibitedTaxShelterTransInd00
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IRS990/PYContributionsGrantsAmt03351514
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0767461
IRS990/PYOtherExpensesAmt04709749
IRS990/PYOtherRevenueAmt0-1229099
IRS990/PYProgramServiceRevenueAmt01337911
IRS990/PYRevenuesLessExpensesAmt0-2590880
IRS990/PYSalariesCompEmpBnftPaidAmt02108918
IRS990/PYTotalExpensesAmt06818667
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt04227787
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-1767868
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt0131898
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02118
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02863160
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03351514
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt04716846
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt06312915
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02849176
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt020093611
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0792154
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0894064
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01038648
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01003651
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0613338
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04341855
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt04262364
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.82190
IRS990ScheduleA/PublicSupportPY170Pct00.81340
IRS990ScheduleA/PublicSupportTotal170Amt020082320
IRS990ScheduleA/SubstantialContributorsTotAmt011291
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02863160
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03351514
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt04716846
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt06312915
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02849176
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt020093611
IRS990ScheduleA/TotalSupportAmt024435466
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/BookValueAmt013436803
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01548520
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014985323
IRS990ScheduleD/EquipmentGrp/BookValueAmt0260512
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0572272
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0832784
IRS990ScheduleD/ExpensesNotReportedAmt0484443
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05451196
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0273810
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04944812
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01889127
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06833939
IRS990ScheduleD/OtherExpensesIncludedAmt0484443
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01239
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01994
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04236944
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11742910
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt212381
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt353965
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4207434
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE INCENTIVE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SECURITY DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4INTEREST RATE SWAP LIABILITY
IRS990ScheduleD/OtherRevenueAmt0804870
IRS990ScheduleD/RevenueNotReportedAmt0804870
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03683328
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RENTAL EXPENSES OFFSETTING RENTAL INCOME 283,954. COST OF GOODS SOLD 200,489. GAIN ON INTEREST RATE SWAP 320,427.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES OFFSETTING RENTAL INCOME 283,954. COST OF GOODS SOLD 200,489.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt018917176
IRS990ScheduleD/TotalExpensesPerForm990Amt05451196
IRS990ScheduleD/TotalLiabilityAmt06253634
IRS990ScheduleD/TotalRevenuePerForm990Amt03683328
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt04488198
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt05935639
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY IS SENT VIA EMAIL TO THE BOARD FOR REVIEW AND APPROVAL, PRIOR TO FILING.
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/ExplanationTxt4GAIN ON INTEREST RATE SWAP 320,427.
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/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9:
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0CROSSTOWN ARTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2CITY IMPACT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt3CROSSTOWN ARTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt4CROSSTOWN ARTS LLC
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/DisregardedEntityName/BusinessNameLine1Txt4SUSTAINING THE ARTS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0260586701
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1261132467
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN2261231702
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt04167366
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt10
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt20
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt311281307
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt454693

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$52,274,330
Liabilities
$40,638,805
Net assets
$11,635,525
Revenue
$3,683,328
Expenses
$5,451,196
Net income
-$1,767,868
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