Civic Intelligence

Experimental Sound Studio

990 • Fiscal year 2023 • EIN 36-3482714

Jan 01, 2023 to Dec 31, 2023 • Filed on May 15, 2024

5295 N Ravenswood AveChicago, IL 60660

(773) 998-1069

Siviq Scores

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

Liabilities / Assets

35th percentile

0.02x

Higher debt load relative to assets than 35% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

29th percentile

0.02x

Higher debt load relative to revenue than 29% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

87th percentile

40%

Higher net margin than 87% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

48th percentile

$54,470

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

93rd percentile

83%

Faster asset growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

95th percentile

195%

Faster revenue growth than 95% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$996,809

Up $453,491 (+83%) from 2022

Net Assets

Up

$979,800

Up $464,006 (+90%) from 2022

Liabilities

Down

$17,009

Down $10,515 (-38%) from 2022

Revenue

Up

$1,106,523

Up $731,155 (+195%) from 2022

Expenses

Up

$667,155

Up $294,714 (+79%) from 2022

Net Income

Up

$439,368

Up $436,441 (+14911%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2016: $149,185Liabilities 2016: $99,991Net Assets 2016: $49,1942016Assets 2017: $140,044Liabilities 2017: $87,176Net Assets 2017: $52,8682017Assets 2018: $119,421Liabilities 2018: $100,310Net Assets 2018: $19,1112018Assets 2019: $124,929Liabilities 2019: $12,147Net Assets 2019: $112,7822019Assets 2020: $306,013Liabilities 2020: $12,877Net Assets 2020: $293,1362020Assets 2021: $531,891Liabilities 2021: $19,024Net Assets 2021: $512,8672021Assets 2022: $543,318Liabilities 2022: $27,524Net Assets 2022: $515,7942022Assets 2023: $996,809Liabilities 2023: $17,009Net Assets 2023: $979,8002023Assets 2024: $899,251Liabilities 2024: $9,372Net Assets 2024: $889,8792024

Highlighted filing

2023

Assets$996,809
Liabilities$17,009
Net Assets$979,800

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $285,407Expenses 2016: $283,022Net Income 2016: $2,3852016Revenue 2017: $275,373Expenses 2017: $271,699Net Income 2017: $3,6742017Revenue 2018: $273,433Expenses 2018: $287,088Net Income 2018: -$13,6552018Revenue 2019: $353,286Expenses 2019: $259,615Net Income 2019: $93,6712019Revenue 2020: $474,495Expenses 2020: $330,166Net Income 2020: $144,3292020Revenue 2021: $627,430Expenses 2021: $407,699Net Income 2021: $219,7312021Revenue 2022: $375,368Expenses 2022: $372,441Net Income 2022: $2,9272022Revenue 2023: $1,106,523Expenses 2023: $667,155Net Income 2023: $439,3682023Revenue 2024: $748,381Expenses 2024: $838,302Net Income 2024: -$89,9212024

Highlighted filing

2023

Revenue$1,106,523
Expenses$667,155
Net Income$439,368
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 15, 2024
Return Version
2023v5.0
Gross Receipts
$1,106,523
Mission and Program Overview

Mission

Ess is a non-profit, artist-run organization focused on sound in all its exploratory cultural manifestations, including music, sound art,installation, cinema, performing arts, sound poetry, broadcast, new media, and more. It is our mission to serve the artists engaged in these disciplines, the audiences who listen to them, and the public who may as yet be unaware of sound's many creative dimensions. Our approach integrates production, presentation, education, and preservation, often in partnership with other organizations, constituencies, artists, and individuals.

Ess is a non-profit, artist-run organization focused on sound in all its cultural manifestations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$314,727$395,938▲ $81,211
Pledges and Grants Receivable$89,099$350,399▲ $261,300
Cash and Non-Interest-Bearing Accounts$6,699$130,638▲ $123,939
Savings and Temporary Cash Investments$130,900$110,062▼ $20,838
Accounts Receivable$1,893$9,772▲ $7,879
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$543,318$996,809▲ $453,491
Other Assets Total-$0-
Liabilities
Other Liabilities$24,640--
Accounts Payable and Accrued Expenses$2,884$10,634▲ $7,750
Deferred Revenue-$6,375-
Total Liabilities$27,524$17,009▼ $10,515
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$390,730$560,593▲ $169,863
Net Assets With Donor Restrictions$125,064$419,207▲ $294,143
Total Net Assets Fund Balance$515,794$979,800▲ $464,006
Total Liabilities and Net Assets / Fund Balance$543,318$996,809▲ $453,491

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$228,000-$228,000
Equipment$96,173$50,494$146,667
Land$57,000-$57,000
Leasehold Improvements$14,765$585$15,350
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Adam VidaManaging DirectorFT$54,470$54,470

Board Members and Trustees

NameTitle
Carrie CooperPresident
Daniel QuilesDirector
Darin WalshDirector
Kim AlpertDirector
Lee BlalockDirector
Lou MallozziDirector
Mark DaizDirector
Drew RouloSecretary
Liz PenselTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$926,226
Program Service Revenue
$154,831
Investment Income
$12
Other Revenue
$25,454
All Other Contributions
$770,826
Change in Net Assets
$439,368

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,106,523
Total Revenue per Audited Statements
$1,106,523
Total Revenue per Form 990
$1,106,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$461,689
Salaries, Compensation, and Employee Benefits$205,466
Total Fundraising Expense$11,257
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$187,335$7,008-$194,343
Other Salaries and Wages$126,932$6,793$3,397$137,122
Current Officers, Directors, Trustees, and Key Employees$46,300$5,447$2,723$54,470
Occupancy$38,357$3,327$1,664$43,348
Depreciation Depletion$27,754--$27,754
Payroll Taxes$11,793$1,387$694$13,874
Travel$9,217$1,122-$10,339
Office Expenses$4,070$3,387$239$7,696
Advertising$3,029$4,251-$7,280
Other Expenses$173$2,189$2,540$2,189
All Other Expenses-$435-$435
Total Functional Expenses$614,315$41,583$11,257$667,155

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$667,155
Total Expenses per Audited Statements$667,155
Total Expenses per Form 990$667,155
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
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 990 is reviewed by the Board prior to filing.

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

The Executive Director's salary is determined by the Board based on comparable Executive Director salaries.

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

No other officer or key employee compensation exists.

Form 990, Part VI, Section C, Line 18

The 990 can be acquired through the IL Attorney General and the Guidestar.org websites.

Form 990, Part VI, Section C, Line 19

Available upon request

Filing and Contact Details

Filer

Filer Name
Experimental Sound Studio
EIN
36-3482714
Phone
7739981069
Address
5295 N Ravenswood Ave, Chicago, IL 60660

Signing Officer

Name
Carrie Cooper
Title
President
Signed
2024-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Carrie Cooper
Formed
1986
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
3
Volunteers
14

Preparer

Firm
Il Nfp Audit and Tax Llp
Address
200 S WACKER DR SUITE 3100, CHICAGO, IL 60606
Preparer
Abdullah Khan CPA
Phone
3129985500
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The Organization is exempt from Federal and State income taxes under Section 501c3 of the Internal Revenue Code, therefore, the financial statements do not include a provision for income taxes. The Organization reviews income tax positions taken or expected to be taken in income tax returns to determine if there are any income tax uncertainties. This includes positions that the entity is exempt from income taxes or not subject to income taxes on unrelated business income. The Organization recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on the technical merits of the positions. The Organization has identified no significant income tax uncertainties. The Organization files information returns as a tax-exempt organization. Should that status be challenged in the future, all years since inception could be subject to review by the IRS.

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06220
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt117
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IRS990ScheduleD/EquipmentGrp/BookValueAmt096173
IRS990ScheduleD/EquipmentGrp/DepreciationAmt050494

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