Civic Intelligence

Hyde Park Art Center

990 • Fiscal year 2019 • EIN 36-2887294

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 22, 2020

5020 S Cornell AveChicago, IL 60615

(773) 324-5520

Siviq Scores

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

Liabilities / Assets

27th percentile

0.03x

Higher debt load relative to assets than 27% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

30th percentile

0.07x

Higher debt load relative to revenue than 30% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

23rd percentile

-6.4%

Higher net margin than 23% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

59th percentile

$142,249

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

37th percentile

0.0%

Faster asset growth than 37% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

64th percentile

9.7%

Faster revenue growth than 64% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Assets

Up

$6,071,058

Up $541 (+0.0%) from 2018

Net Assets

Down

$5,900,643

Down $30,564 (-0.5%) from 2018

Liabilities

Up

$170,415

Up $31,105 (+22%) from 2018

Revenue

Up

$2,506,353

Up $222,077 (+9.7%) from 2018

Expenses

Up

$2,665,759

Up $193,555 (+7.8%) from 2018

Net Income

Up

-$159,406

Up $28,522 (+15%) from 2018

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2017: $6,336,750Liabilities 2017: $121,641Net Assets 2017: $6,215,1092017Assets 2018: $6,070,517Liabilities 2018: $139,310Net Assets 2018: $5,931,2072018Assets 2019: $6,071,058Liabilities 2019: $170,415Net Assets 2019: $5,900,6432019Assets 2020: $8,210,045Liabilities 2020: $148,586Net Assets 2020: $8,061,4592020Assets 2021: $13,112,741Liabilities 2021: $446,950Net Assets 2021: $12,665,7912021Assets 2022: $11,546,706Liabilities 2022: $239,449Net Assets 2022: $11,307,2572022Assets 2023: $11,720,753Liabilities 2023: $223,778Net Assets 2023: $11,496,9752023Assets 2024: $11,005,163Liabilities 2024: $197,183Net Assets 2024: $10,807,9802024

Highlighted filing

2019

Assets$6,071,058
Liabilities$170,415
Net Assets$5,900,643

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2017: $2,024,775Expenses 2017: $2,226,933Net Income 2017: -$202,1582017Revenue 2018: $2,284,276Expenses 2018: $2,472,204Net Income 2018: -$187,9282018Revenue 2019: $2,506,353Expenses 2019: $2,665,759Net Income 2019: -$159,4062019Revenue 2020: $4,472,124Expenses 2020: $2,333,569Net Income 2020: $2,138,5552020Revenue 2021: $7,741,893Expenses 2021: $3,229,484Net Income 2021: $4,512,4092021Revenue 2022: $2,482,157Expenses 2022: $3,282,240Net Income 2022: -$800,0832022Revenue 2023: $3,721,399Expenses 2023: $3,980,597Net Income 2023: -$259,1982023Revenue 2024: $2,905,571Expenses 2024: $3,972,769Net Income 2024: -$1,067,1982024

Highlighted filing

2019

Revenue$2,506,353
Expenses$2,665,759
Net Income-$159,406
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 22, 2020
Return Version
2019v5.1
Gross Receipts
$2,844,893
Mission and Program Overview

Mission

The purpose of the hyde park art center (the art center) is to stimulate and sustain the visual arts in chicago. It does so by challenging and supporting artists, connecting artists to a broader public, and creating a community of people who are interested in the visual arts. The art center's flagship programs provide opportunities for anyone to see, make, learn about and discuss art.

The hyde park art center presents innovative exhibitions of new work by primarly chicago-based artists; educational programs for children and adults, novice through professional, and free public programming for a diverse and creative audience. Through these programs, the art center actively cultivates a more vibrant, inclusive arts community and aims to foster a collective spirit among artists, teachers, students, children and families, and the general public. It facilitates opportunities for artists to experiment and do things they would not be able to do elsewhere and encourages its visitors to get involved with the entire process of art and art making.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,643,702$3,439,323▼ $204,379
Pledges and Grants Receivable$889,856$1,043,753▲ $153,897
Investments in Publicly Traded Securities$923,237$895,540▼ $27,697
Cash and Non-Interest-Bearing Accounts$391,650$535,369▲ $143,719
Accounts Receivable$100,234$97,399▼ $2,835
Savings and Temporary Cash Investments$68,490$20,217▼ $48,273
Prepaid Expenses and Deferred Charges$11,552$9,298▼ $2,254
Total Assets$6,070,517$6,071,058▲ $541
Other Assets Total$41,796$30,159▼ $11,637
Liabilities
Deferred Revenue$73,649$101,800▲ $28,151
Accounts Payable and Accrued Expenses$33,678$51,069▲ $17,391
Other Liabilities$31,983$17,546▼ $14,437
Total Liabilities$139,310$170,415▲ $31,105
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,768,929$4,704,394▼ $64,535
Net Assets With Donor Restrictions$1,162,278$1,196,249▲ $33,971
Total Net Assets Fund Balance$5,931,207$5,900,643▼ $30,564
Total Liabilities and Net Assets / Fund Balance$6,070,517$6,071,058▲ $541

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,789,864$2,334,376$5,124,240
Leasehold Improvements$578,580$154,886$733,466
Equipment$70,879$642,043$712,922
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Kathlynn LorenzExecutive DirectorFT$137,000$5,249$142,249

Board Members and Trustees

NameTitle
Justine JentesBoard Chair
Erika DudleyVice Chair
Amanda WilliamsBoard Member
Angela WalkerBoard Member
Anne WilsonBoard Member
Cynthia HeusingBoard Member
Dawoud BeyBoard Member
Dedrea GrayBoard Member
Janis KanterBoard Member
Jason SaulBoard Member
John OxtobyBoard Member
Julie GuidaBoard Member
Kate GroningerBoard Member
Kineret JaffeBoard Member
Lauren MoltzBoard Member
Lawrence FurnstahlBoard Member
Martha ClintonBoard Member
Pooja PittieBoard Member
Richard WrightBoard Member
Robert SullivanBoard Member
Satannia WilliamsBoard Member
Theaster GatesBoard Member
Trinita LogueBoard Member
Yumi RossBoard Member (thru June)
Monica HughsonBoard Member (thru Oct)
Kim TaylorSecretary
Sundeep MullangiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,903,500
Program Service Revenue
$613,900
Investment Income
$31,580
Other Revenue
$-42,627
All Other Contributions
$1,171,494
Change in Net Assets
$-159,406

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,506,353
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$118,686
Total Revenue per Audited Statements
$2,625,039
Total Revenue per Form 990
$2,506,353
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,451,852
Salaries, Compensation, and Employee Benefits$1,148,938
Total Fundraising Expense$464,720
Professional Fundraising Fees$64,969
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$619,088$77,119$142,411$838,618
Fees for Services Other$486,863$88$126,684$613,635
Depreciation Depletion$196,036$31,079$11,954$239,069
Occupancy$150,853$16,943$5,286$173,082
Current Officers, Directors, Trustees, and Key Employees$85,349$21,337$35,562$142,248
Advertising$95,203$9,433$16,042$120,678
Other Employee Benefits$60,221$6,396$7,128$73,745
Payroll Taxes$50,914$7,599$13,724$72,237
Fees for Services Professional Fundraising--$64,969$64,969
Office Expenses$34,991$1,981$4,083$41,055
Information Technology$25,288$3,198$5,886$34,372
Insurance$25,197$3,213$1,061$29,471
All Other Expenses$23,650$1,836$2,896$28,382
Travel$25,817$650$809$27,276
Pension Plan Contributions$17,731$2,006$2,353$22,090
Conferences and Meetings$9,493$1,635$6,243$17,371
Fees for Services Accounting-$13,095-$13,095
Fees for Service Investment Mgmnt Fees$7,148$194$2,814$10,156
Other Expenses$33$1,961$4,505$4,538
Total Functional Expenses$2,000,107$200,932$464,720$2,665,759

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$2,665,759
Expenses per Audited Statements$2,655,603
Total Expenses per Audited Statements$2,655,603
Expenses Not Reported on Financial Statements$10,156
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$138,592
Professional Fundraising Fees$64,969
Fundraising Gross Income$52,379

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Fall Benefit (njapf)$198,748-$12,861-
Spring Benefit$533,258$51,900$33,613$18,287
Total Events$732,006$51,900$132,015$-80,115
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Amount Held for Others$14,983
Security Deposits$2,563
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
No
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

The executive director will review the 990 and present it to the audit committee for their review. A copy of the 990 is provided to the entire board of directors. Once approved, the 990 will be filed with the internal revenue service.

Form 990, Part VI, Section B, Line 12C

Any director shall disclose to the board any personal interest in any matter pending before the board and shall refrain from voting in any decision on such a matter. The chair of the board and the executive director are charged with the responsibility of monitoring any possible conflicts of interests and to ensure they do not exist. Management is also required to review any outside employment by staff for potential conflicts of interest.

Form 990, Part VI, Section B, Line 15A

The executive committee of the board of directors reviewed available data for executive director compensation at comparable organizations. Considering this, the organization's budget, and the executive director's experience and performance, the committee determines a proposed compensation package that it brings to the full board for discussion and approval.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Hyde Park Art Center
EIN
36-2887294
Phone
7733245520
Address
5020 S CORNELL AVE, CHICAGO, IL 60615

Signing Officer

Name
Kathlynn Lorenz
Title
Executive Director
Phone
7733245520
Signed
2020-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathlynn Lorenz
Formed
1940
Legal Domicile
Il
Voting Board Members
25
Independent Board Members
25
Employees
28
Volunteers
37

Preparer

Firm
Wipfli Llp
Address
100 TRI-STATE INTERNATIONAL STE 300, LINCOLNSHIRE, IL 60069
Preparer
Marlene Domash
Phone
8479410100
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Artist fees: program service expenses 37,998. Management and general expenses 49. Fundraising expenses 101,260. Total expenses 139,307. Teacher fees: program service expenses 345,577. Management and general expenses 0. Fundraising expenses 0. Total expenses 345,577. Professional fees and services: program service expenses 103,288. Management and general expenses 39. Fundraising expenses 25,424. Total expenses 128,751.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

INVESTMENT EXPENSES

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IRS990/ActivityOrMissionDesc0THE HYDE PARK ART CENTER PRESENTS INNOVATIVE EXHIBITIONS OF NEW WORK BY PRIMARLY CHICAGO-BASED ARTISTS; EDUCATIONAL PROGRAMS FOR CHILDREN AND ADULTS, NOVICE THROUGH PROFESSIONAL, AND FREE PUBLIC PROGRAMMING FOR A DIVERSE AND CREATIVE AUDIENCE. THROUGH THESE PROGRAMS, THE ART CENTER ACTIVELY CULTIVATES A MORE VIBRANT, INCLUSIVE ARTS COMMUNITY AND AIMS TO FOSTER A COLLECTIVE SPIRIT AMONG ARTISTS, TEACHERS, STUDENTS, CHILDREN AND FAMILIES, AND THE GENERAL PUBLIC. IT FACILITATES OPPORTUNITIES FOR ARTISTS TO EXPERIMENT AND DO THINGS THEY WOULD NOT BE ABLE TO DO ELSEWHERE AND ENCOURAGES ITS VISITORS TO GET INVOLVED WITH THE ENTIRE PROCESS OF ART AND ART MAKING.
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IRS990/Desc0SCHOOL: THE HYDE PARK ART CENTER OFFERS ON-SITE AND IN-SCHOOL EDUCATION PROGRAMS FOR ALL AGES, ALLOWING ANY STUDENT OR FAMILY TO ENGAGE IN LIFE-LONG LEARNING. A TYPICAL DAY OF ON-SITE LEARNING AT HYDE PARK ART CENTER SEES CHILDREN PAINTING, TEENAGERS TAKING PHOTOGRAPHS, AND CURIOUS ADULTS EXCHANGING IDEAS WITH TEACHING ARTISTS AND VISITING ARTS PROFESSIONALS. THE END RESULT IS A VIBRANT COMMUNITY FILLED WITH YOUTH AND ADULT ARTISTS, DEDICATED TEACHING ARTISTS, AND PASSIONATE ARTS ENTHUSIASTS.STUDENTS AT HYDE PARK ART CENTER CAN EXPECT TO HAVE FUN WORKING WITH REAL ARTISTS WHILE LEARNING AND GROWING AS PEOPLE. TEACHING ARTISTS DO MORE THAN JUST ADDRESS SKILLS, THEY ALSO GET STUDENTS TO THINK BEYOND THE ACT OF MAKING ART. DURING 2019, THE HYDE PARK ART CENTER RAN 174 COURSES AND CAMPS WITH 1,862 STUDENTS (INCLUSIVE OF 283 CAMPERS) DURING 4 SESSIONS AND SUMMER CAMP.
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IRS990/MissionDesc0THE PURPOSE OF THE HYDE PARK ART CENTER (THE ART CENTER) IS TO STIMULATE AND SUSTAIN THE VISUAL ARTS IN CHICAGO. IT DOES SO BY CHALLENGING AND SUPPORTING ARTISTS, CONNECTING ARTISTS TO A BROADER PUBLIC, AND CREATING A COMMUNITY OF PEOPLE WHO ARE INTERESTED IN THE VISUAL ARTS. THE ART CENTER'S FLAGSHIP PROGRAMS PROVIDE OPPORTUNITIES FOR ANYONE TO SEE, MAKE, LEARN ABOUT AND DISCUSS ART.
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IRS990/OtherExpensesGrp/Desc0SUPPLIES
IRS990/OtherExpensesGrp/Desc1CREDIT CARD PROCESSING

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