Civic Intelligence

Artneo

990 • Fiscal year 2023 • EIN 34-1420133

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization ProfileWWW.ARTNEO.ORG
1305 W 80th St Suite 16Cleveland, OH 44102

(216) 227-9507

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.02x

Higher debt load relative to assets than 53% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.39x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

19th percentile

-16%

Higher net margin than 19% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

33rd percentile

-2.3%

Faster asset growth than 33% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

45th percentile

4.5%

Faster revenue growth than 45% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Down

$826,382

Down $19,585 (-2.3%) from 2022

Net Assets

Down

$806,380

Down $4,087 (-0.5%) from 2022

Liabilities

Down

$20,002

Down $15,498 (-44%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin19th percentile

Revenue

Up

$51,074

Up $2,215 (+4.5%) from 2022

Expenses

Up

$59,221

Up $10,957 (+23%) from 2022

Net Income

Down

-$8,147

Down $8,742 (-1469%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth33rd percentile

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

$1.0M$500K$0Assets 2011: $902,217Liabilities 2011: $11,661Net Assets 2011: $890,5562011Assets 2019: $933,495Liabilities 2019: $56,351Net Assets 2019: $877,1442019Assets 2020: $926,632Liabilities 2020: $78,501Net Assets 2020: $848,1312020Assets 2021: $833,296Liabilities 2021: $23,934Net Assets 2021: $809,3622021Assets 2022: $845,967Liabilities 2022: $35,500Net Assets 2022: $810,4672022Assets 2023: $826,382Liabilities 2023: $20,002Net Assets 2023: $806,3802023Assets 2024: $788,901Liabilities 2024: $8,002Net Assets 2024: $780,8992024

Highlighted filing

2023

Assets$826,382
Liabilities$20,002
Net Assets$806,380
Open 2023 Filing

Operations Trend

Revenue Growth45th percentile

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

$150K$100K$50K$0-$50KExpenses 2011: $112,5172011Revenue 2019: $111,898Expenses 2019: $105,735Net Income 2019: $6,1632019Revenue 2020: $34,183Expenses 2020: $37,951Net Income 2020: -$3,7682020Revenue 2021: $67,331Expenses 2021: $106,100Net Income 2021: -$38,7692021Revenue 2022: $48,859Expenses 2022: $48,264Net Income 2022: $5952022Revenue 2023: $51,074Expenses 2023: $59,221Net Income 2023: -$8,1472023Revenue 2024: $11,697Expenses 2024: $35,345Net Income 2024: -$23,6482024

Highlighted filing

2023

Revenue$51,074
Expenses$59,221
Net Income-$8,147
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.0
Gross Receipts
$51,074
Mission and Program Overview

Mission

Art neo was founded in 1984 by cleveland based artists, patrons, and collectors who recognized the need to establish an organization that would preserve, research, collect, and exhibit the most significant visual art of the northeast region. Art neo has become the premier center for the art of northeast ohio, owing both to its significant collecting initiative, and to its commitment to creative exhibition planning and educational outreach. Central to art neo's commitment to embracing the range of artistic excellence in this region is its priority of conceiving stimulating exhibitions, educational programming, and scholarly publications.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$69,367$52,264▼ $17,103
Land, Buildings, and Equipment, Net$26,200$23,718▼ $2,482
Total Assets$845,967$826,382▼ $19,585
Other Assets Total$750,400$750,400→ $0
Liabilities
Other Liabilities$35,500$20,002▼ $15,498
Total Liabilities$35,500$20,002▼ $15,498
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$810,467$806,380▼ $4,087
Total Net Assets Fund Balance$810,467$806,380▼ $4,087
Total Liabilities and Net Assets / Fund Balance$845,967$826,382▼ $19,585

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$22,019--
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
William LipscombPresident/tr
Gary BombeiBoard Member
Henry AdamsBoard Member
Marianne BerardiBoard Member
Tom BodnarBoard Member
Daniel BushSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$39,397
Program Service Revenue
$11,677
Investment Income
$0
Other Revenue
$0
All Other Contributions
$39,397
Change in Net Assets
$-8,147
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$59,221
Total Fundraising Expense$3,878
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$11,760--$11,760
Fees for Services Other$3,876$3,877$3,878$11,631
Insurance$3,860--$3,860
Other Expenses$2,975--$2,975
Depreciation Depletion$2,482--$2,482
Office Expenses$539--$539
Fees for Services Accounting-$505-$505
Interest-$367-$367
Advertising$200--$200
Total Functional Expenses$50,594$4,749$3,878$59,221
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Dan BushBoard MemberRentNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Studios at 78th Street - Rent$20,002
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“An electronic copy of the form 990 and required schedules are provided to the president, treasurer and executive director of the organization for review. Upon notification to the prepare that the return has been approved, the form 990 is filed with the irs.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Art Neo
EIN
34-1420133
Phone
2162279507
Address
1305 W 80TH ST SUITE 16, CLEVELAND, OH 44102

Signing Officer

Name
William Lipscomb
Title
President/treasurer
Phone
2162958154
Signed
2024-11-14

Organization Details

Principal Officer
William Lipscomb
Formed
1984
Legal Domicile
Oh
Voting Board Members
6
Independent Board Members
0
Employees
0

Preparer

Firm
Laskey Costello LLC
Address
15514 DETROIT AVE, LAKEWOOD, OH 44107
Preparer
Cynthia M Costello CPA
Phone
2165212100
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Art neo was founded in 1984 by cleveland based artists, patrons, and collectors who recognized the need to establish an organization that would preserve, research, collect, and exhibit the most significant visual art of the northeast region. Art neo has become the premier center for the art of northeast ohio, owing both to its significant collecting initiative, and to its commitment to creative exhibition planning and educational outreach. Central to art neo's commitment to embracing the range of artistic excellence in this region is its priority of conceiving stimulating exhibitions, educational programming, and scholarly publications.”

Form 990, Part IX, Line 11G

“Professional fees - other 3,876 3,877 3,878”

Form 990, Part XI, Line 9

“Book / tax depreciation difference -1 4,061 total 4,060 adjustment for loan that was extinguished.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ART NEO WAS FOUNDED IN 1984 BY CLEVELAND BASED ARTISTS, PATRONS, AND COLLECTORS WHO RECOGNIZED THE NEED TO ESTABLISH AN ORGANIZATION THAT WOULD PRESERVE, RESEARCH, COLLECT, AND EXHIBIT THE MOST SIGNIFICANT VISUAL ART OF THE NORTHEAST REGION. ART NEO HAS BECOME THE PREMIER CENTER FOR THE ART OF NORTHEAST OHIO, OWING BOTH TO ITS SIGNIFICANT COLLECTING INITIATIVE, AND TO ITS COMMITMENT TO CREATIVE EXHIBITION PLANNING AND EDUCATIONAL OUTREACH. CENTRAL TO ART NEO'S COMMITMENT TO EMBRACING THE RANGE OF ARTISTIC EXCELLENCE IN THIS REGION IS ITS PRIORITY OF CONCEIVING STIMULATING EXHIBITIONS, EDUCATIONAL PROGRAMMING, AND SCHOLARLY PUBLICATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AN ELECTRONIC COPY OF THE FORM 990 AND REQUIRED SCHEDULES ARE PROVIDED TO THE PRESIDENT, TREASURER AND EXECUTIVE DIRECTOR OF THE ORGANIZATION FOR REVIEW. UPON NOTIFICATION TO THE PREPARE THAT THE RETURN HAS BEEN APPROVED, THE FORM 990 IS FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROFESSIONAL FEES - OTHER 3,876 3,877 3,878
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -1 4,061 TOTAL 4,060 ADJUSTMENT FOR LOAN THAT WAS EXTINGUISHED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990/TotalAssetsGrp/EOYAmt0826382
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt050594
IRS990/TotalFunctionalExpensesGrp/TotalAmt059221
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt035500
IRS990/TotalLiabilitiesEOYAmt020002
IRS990/TotalLiabilitiesGrp/BOYAmt035500
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IRS990/TotalProgramServiceExpensesAmt050594
IRS990/TotalProgramServiceRevenueAmt011677
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011677
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt051074
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0845967
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0826382
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02620 WEST PARK BLVD
IRS990/USAddress/CityNm0SHAKER HEIGHTS
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044120
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.ARTNEO.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM LIPSCOMB
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02162958154
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ART NEO
ReturnHeader/Filer/BusinessNameControlTxt0ARTN
ReturnHeader/Filer/EIN0341420133
ReturnHeader/Filer/PhoneNum02162279507
ReturnHeader/Filer/USAddress/AddressLine1Txt01305 W 80TH ST SUITE 16
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044102
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0455224317
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LASKEY COSTELLO LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt015514 DETROIT AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAKEWOOD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044107
ReturnHeader/PreparerPersonGrp/PhoneNum02165212100
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CYNTHIA M COSTELLO CPA
ReturnHeader/ReturnTs02024-11-14T16:23:25-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$826,382
Liabilities
$20,002
Net assets
$806,380
Revenue
$51,074
Expenses
$59,221
Net income
-$8,147
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.89$0.08$7.81$0.12$0.35$0.24
2023Detailed filing. Detailed filing data is available for this year.$8.26$0.20$8.06$0.51$0.59$0.08
2022Detailed filing. Detailed filing data is available for this year.$8.46$0.36$8.10$0.49$0.48$0.01
2021Detailed filing. Detailed filing data is available for this year.$8.33$0.24$8.09$0.67$1.06$0.39
2020Detailed filing. Detailed filing data is available for this year.$9.27$0.79$8.48$0.34$0.38$0.04
2019Detailed filing. Detailed filing data is available for this year.$9.33$0.56$8.77$1.12$1.06$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.02$0.12$8.91$1.13