Civic Intelligence

Crosstown Arts

990 • Fiscal year 2022 • EIN 27-1876711

May 01, 2021 to Apr 30, 2022 • Filed on Mar 15, 2023

Organization ProfileWWW.CROSSTOWNARTS.ORG

View Organization Page

1350 Concourse Avenue 280Memphis, TN 38104

(901) 507-8030

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.70x

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

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

89th percentile

3.04x

Higher debt load relative to revenue than 89% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Net Margin

95th percentile

71%

Higher net margin than 95% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

9th percentile

$114,948

Higher top officer pay than 9% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2022

Asset Growth

95th percentile

67%

Faster asset growth than 95% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

99th percentile

443%

Faster revenue growth than 99% of similar nonprofits.

2022 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$87,226,564

Up $34,952,234 (+67%) from 2021

Net Assets

Up

$26,486,951

Up $14,851,426 (+128%) from 2021

Liabilities

Up

$60,739,613

Up $20,100,808 (+49%) from 2021

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin95th percentile

Revenue

Up

$20,011,175

Up $16,327,847 (+443%) from 2021

Expenses

Up

$5,752,361

Up $301,165 (+5.5%) from 2021

Net Income

Up

$14,258,814

Up $16,026,682 (+907%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2022

Assets$87,226,564
Liabilities$60,739,613
Net Assets$26,486,951
Open 2022 Filing

Operations Trend

Revenue Growth99th 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

2022

Revenue$20,011,175
Expenses$5,752,361
Net Income$14,258,814
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2021 to Apr 30, 2022
Signed
Mar 15, 2023
Return Version
2021v4.2
Gross Receipts
$20,757,294
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$65,586,128▲ $35,330,550
Land, Buildings, and Equipment, Net$18,917,176$17,829,304▼ $1,087,872
Cash and Non-Interest-Bearing Accounts$1,053,492$943,615▼ $109,877
Pledges and Grants Receivable$473,261$492,560▲ $19,299
Prepaid Expenses and Deferred Charges$100,225$125,704▲ $25,479
Inventories for Sale or Use$9,438$11,869▲ $2,431
Total Assets$52,274,330$87,226,564▲ $34,952,234
Other Assets Total$1,465,160$2,237,384▲ $772,224
Liabilities
Unsecured Notes Loans Payable$22,399,062$41,980,273▲ $19,581,211
Deferred Revenue$11,777,778$11,791,584▲ $13,806
Other Liabilities$6,253,634$6,729,885▲ $476,251
Accounts Payable and Accrued Expenses$208,331$237,871▲ $29,540
Total Liabilities$40,638,805$60,739,613▲ $20,100,808
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,035,026$26,106,518▲ $15,071,492
Net Assets With Donor Restrictions$600,499$380,433▼ $220,066
Total Net Assets Fund Balance$11,635,525$26,486,951▲ $14,851,426
Total Liabilities and Net Assets / Fund Balance$52,274,330$87,226,564▲ $34,952,234

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,986,347$1,998,976$14,985,323
Leasehold Improvements$4,420,735$2,413,204$6,833,939
Equipment$147,820$730,136$877,956
Land$273,810-$273,810
Other Land Buildings$592$2,641$3,233
Compensation and Service Providers
Top Officer Pay9th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christopher MinerExecutive DirectorFT$99,455$15,493$114,948

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$18,519,331
Program Service Revenue
$920,952
Investment Income
$554,182
Other Revenue
$16,710
All Other Contributions
$17,944,865
Change in Net Assets
$14,258,814

Audited Revenue Reconciliation

Revenue per Audited Statements
$20,011,175
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$1,338,731
Total Revenue per Audited Statements
$21,349,906
Total Revenue per Form 990
$20,011,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,056,349
Salaries, Compensation, and Employee Benefits$1,696,012
Total Fundraising Expense$70,532
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$995,309$321,358$12,458$1,329,125
Interest$1,173,593$4,731-$1,178,324
Depreciation Depletion$983,438--$983,438
Occupancy$700,018$136,603-$836,621
Other Employee Benefits$127,106$75,608$5,626$208,340
Fees for Services Other$94,879$91,973-$186,852
Advertising$145,701-$19,587$165,288
Current Officers, Directors, Trustees, and Key Employees$64,646$32,323$10,774$107,743
Office Expenses-$74,232-$74,232
Insurance-$55,540-$55,540
Payroll Taxes$50,804--$50,804
All Other Expenses$12,442-$16,296$28,738
Fees for Services Accounting-$8,446-$8,446
Conferences and Meetings$4,212$3,386-$7,598
Other Expenses$2,114$3,126$5,791$5,240
Total Functional Expenses$4,874,429$807,400$70,532$5,752,361

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$6,498,480
Expenses per Audited Statements$5,752,361
Total Expenses per Form 990$5,752,361
Expenses Not Reported on Form 990$746,119
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$5,058,987
Lease Incentive Liability$1,605,573
Security Deposits$65,190
Deferred Rent$135
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
Yes
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 A, Line 4

“The following changes were made to the bylaws during the fiscal year: - change in required board size. - elimination of term limits. - elimination of vice-chair officer. - description of executive director role.”

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

“A copy of the form 990 (excluding schedule b) 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 280, MEMPHIS, TN 38104

Signing Officer

Name
Richard Lou
Title
President
Phone
9015078030
Signed
2023-03-15
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
49
Volunteers
314

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 592,612.”

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

“Cost of goods sold 424,027. Gain on interest rate swap 592,612. Rental expenses offsetting rental income 322,092.”

PART XII, LINE 2D - OTHER ADJUSTMENTS:

“Cost of goods sold 424,027. Rental expenses offsetting rental income 322,092.”

Raw XML AppendixShowing 400 of 535 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/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
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
IRS990/NetAssetsOrFundBalancesBOYAmt011635525
IRS990/NetAssetsOrFundBalancesEOYAmt026486951
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0-114276
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0-114276
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt084580
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt084580
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt026106518
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt0136603
IRS990/OccupancyGrp/ProgramServicesAmt0700018
IRS990/OccupancyGrp/TotalAmt0836621
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt074232
IRS990/OfficeExpensesGrp/TotalAmt074232
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt01465160
IRS990/OtherAssetsTotalGrp/EOYAmt02237384
IRS990/OtherChangesInNetAssetsAmt0592612
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt05626
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt075608
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0127106
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0208340
IRS990/OtherExpensesGrp/Desc0DIRECT PROGRAMING EXP.
IRS990/OtherExpensesGrp/Desc1SUPPLIES
IRS990/OtherExpensesGrp/Desc2REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc3BANK FEES
IRS990/OtherExpensesGrp/FundraisingAmt05791
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt074
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt13126
IRS990/OtherExpensesGrp/ProgramServicesAmt0421553
IRS990/OtherExpensesGrp/ProgramServicesAmt177141
IRS990/OtherExpensesGrp/ProgramServicesAmt221473
IRS990/OtherExpensesGrp/ProgramServicesAmt32114
IRS990/OtherExpensesGrp/TotalAmt0421553
IRS990/OtherExpensesGrp/TotalAmt182932
IRS990/OtherExpensesGrp/TotalAmt221547
IRS990/OtherExpensesGrp/TotalAmt35240
IRS990/OtherLiabilitiesGrp/BOYAmt06253634
IRS990/OtherLiabilitiesGrp/EOYAmt06729885
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
IRS990/OtherRevenueMiscGrp/Desc0GAIN ON LEASE TERMINATION
IRS990/OtherRevenueMiscGrp/Desc1OTHER INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt042844
IRS990/OtherRevenueMiscGrp/ExclusionAmt13562
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt042844
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt13562
IRS990/OtherRevenueTotalAmt046406
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt012458
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0321358
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0995309
IRS990/OtherSalariesAndWagesGrp/TotalAmt01329125
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt030255578
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt065586128
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt050804
IRS990/PayrollTaxesGrp/TotalAmt050804
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0473261
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0492560
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0100225
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0125704
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/RelatedOrExemptFuncIncomeAmt0440405
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1333725
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2146822
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0440405
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1333725
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2146822
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/ExpenseAmt0618312
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt033547
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.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01729155
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0556473
IRS990/ProgSrvcAccomActyOtherGrp/Desc0DEPRECIATION, RENT, MUSICIAN SERVICES, PUBLIC ENGAGEMENT
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt01336186
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt069974
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02863160
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0376302
IRS990/PYOtherExpensesAmt03585220
IRS990/PYOtherRevenueAmt0-68303
IRS990/PYProgramServiceRevenueAmt0512169
IRS990/PYRevenuesLessExpensesAmt0-1767868
IRS990/PYSalariesCompEmpBnftPaidAmt01865976
IRS990/PYTotalExpensesAmt05451196
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03683328
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt014258814
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/RentalIncomeOrLossGrp/RealAmt084580
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0146682
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt018519331
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt02863160
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03351514
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04716846
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt06312915
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt035763766
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0960854
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0792154
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0894064
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01038648
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01003651
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04689371
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt05280115
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.52510
IRS990ScheduleA/PublicSupportPY170Pct00.82190
IRS990ScheduleA/PublicSupportTotal170Amt021242279
IRS990ScheduleA/SubstantialContributorsTotAmt014521487
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt018519331
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt02863160
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt03351514
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04716846
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt06312915
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt035763766
IRS990ScheduleA/TotalSupportAmt040453137
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/BookValueAmt012986347
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01998976
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt014985323
IRS990ScheduleD/EquipmentGrp/BookValueAmt0147820
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0730136
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0877956
IRS990ScheduleD/ExpensesNotReportedAmt0746119
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt05752361
IRS990ScheduleD/LandGrp/BookValueAmt0273810
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0273810
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt04420735
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt02413204
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06833939
IRS990ScheduleD/OtherExpensesIncludedAmt0746119
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0592
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt02641
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt03233
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt05058987
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11605573
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2135
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt365190
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1LEASE INCENTIVE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2DEFERRED RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SECURITY DEPOSITS
IRS990ScheduleD/OtherRevenueAmt01338731
IRS990ScheduleD/RevenueNotReportedAmt01338731
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt020011175
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COST OF GOODS SOLD 424,027. GAIN ON INTEREST RATE SWAP 592,612. RENTAL EXPENSES OFFSETTING RENTAL INCOME 322,092.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD 424,027. RENTAL EXPENSES OFFSETTING RENTAL INCOME 322,092.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt017829304
IRS990ScheduleD/TotalExpensesPerForm990Amt05752361
IRS990ScheduleD/TotalLiabilityAmt06729885
IRS990ScheduleD/TotalRevenuePerForm990Amt020011175
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt021349906
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt06498480
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOLLOWING CHANGES WERE MADE TO THE BYLAWS DURING THE FISCAL YEAR: - CHANGE IN REQUIRED BOARD SIZE. - ELIMINATION OF TERM LIMITS. - ELIMINATION OF VICE-CHAIR OFFICER. - DESCRIPTION OF EXECUTIVE DIRECTOR ROLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FORM 990 (EXCLUDING SCHEDULE B) IS SENT VIA EMAIL TO THE BOARD FOR REVIEW AND APPROVAL, PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS 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/ExplanationTxt3THE 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/ExplanationTxt4COPIES OF THE FORMS FOR PUBLIC INSPECTION ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GAIN ON INTEREST RATE SWAP 592,612.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 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

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$87,226,564
Liabilities
$60,739,613
Net assets
$26,486,951
Revenue
$20,011,175
Expenses
$5,752,361
Net income
$14,258,814
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