Civic Intelligence

Beloit Art Center Inc.

990 • Fiscal year 2016 • EIN 39-2040460

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

Organization ProfileWWW.BELOITARTCENTER.COM
520 East Grand AvenueBeloit, WI 53511

(608) 313-9083

Siviq Scores

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

Liabilities / Assets

75th percentile

0.07x

Higher debt load relative to assets than 75% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

80th percentile

0.08x

Higher debt load relative to revenue than 80% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

93rd percentile

57%

Higher net margin than 93% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Balance Sheet
Liabilities / Assets75th percentile

Assets

$73,403

No earlier filing loaded for comparison.

Net Assets

$67,935

No earlier filing loaded for comparison.

Liabilities

$5,468

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue80th percentileNet Margin93rd percentile

Revenue

$66,170

No earlier filing loaded for comparison.

Expenses

$28,298

No earlier filing loaded for comparison.

Net Income

$37,872

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$400K$300K$200K$100K$0Assets 2016: $73,403Liabilities 2016: $5,468Net Assets 2016: $67,9352016Assets 2018: $66,379Liabilities 2018: $4,497Net Assets 2018: $61,8822018Assets 2019: $59,136Liabilities 2019: $1,529Net Assets 2019: $57,6072019Assets 2020: $168,748Liabilities 2020: $67,575Net Assets 2020: $101,1732020Assets 2021: $198,282Liabilities 2021: $66,785Net Assets 2021: $131,4972021Assets 2022: $220,154Liabilities 2022: $81,712Net Assets 2022: $138,4422022Assets 2023: $240,368Liabilities 2023: $69,473Net Assets 2023: $170,8952023Assets 2024: $324,082Liabilities 2024: $117,444Net Assets 2024: $206,6382024

Highlighted filing

2016

Assets$73,403
Liabilities$5,468
Net Assets$67,935
Open 2016 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$150K$100K$50K$0-$50KRevenue 2016: $66,170Expenses 2016: $28,298Net Income 2016: $37,8722016Revenue 2018: $46,747Expenses 2018: $46,554Net Income 2018: $1932018Revenue 2019: $48,575Expenses 2019: $52,850Net Income 2019: -$4,2752019Revenue 2020: $89,078Expenses 2020: $45,512Net Income 2020: $43,5662020Revenue 2021: $57,230Expenses 2021: $26,906Net Income 2021: $30,3242021Revenue 2022: $64,899Expenses 2022: $57,954Net Income 2022: $6,9452022Revenue 2023: $101,401Expenses 2023: $68,947Net Income 2023: $32,4542023Revenue 2024: $113,858Expenses 2024: $78,115Net Income 2024: $35,7432024

Highlighted filing

2016

Revenue$66,170
Expenses$28,298
Net Income$37,872
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$74,627
Mission and Program Overview

Mission

To provide resources to help emerging artists, offer community education & cultural events, and expand the "Arts Center" theme.

Beloit fine arts incubator's purpose is to provide resources to help emerging artists, offer community education and cultural events, and expand on the "arts center" theme.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$27,255$51,195▲ $23,940
Cash and Non-Interest-Bearing Accounts$11,690$20,992▲ $9,302
Accounts Receivable-$970-
Land, Buildings, and Equipment, Net$1,881$246▼ $1,635
Total Assets$40,826$73,403▲ $32,577
Liabilities
Accounts Payable and Accrued Expenses$8,543$3,248▼ $5,295
Deferred Revenue$2,220$2,220→ $0
Total Liabilities$10,763$5,468▼ $5,295
Net Assets / Fund Balance
Unrestricted Net Assets$30,063$67,935▲ $37,872
Total Net Assets Fund Balance$30,063$67,935▲ $37,872
Total Liabilities and Net Assets / Fund Balance$40,826$73,403▲ $32,577

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$246$3,581$3,827
Compensation and Service Providers
Top Officer Pay75th percentile

Board Members and Trustees

NameTitle
Jerry SveumPresident
Alice BlueDirector
Andrew JankeDirector
Ben HenthornDirector
Dean FoltsDirector
Dorota OlszewskiDirector
Todd AnderbyrneDirector
Dawn StadelmanSecretary
Krystal MccaulyTreasurer
Gary DenckerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$26,226
Program Service Revenue
$2,529
Investment Income
$8,679
Other Revenue
$28,736
All Other Contributions
$18,982
Change in Net Assets
$37,872

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,170
Revenue Not Reported on Form 990
$8,457
Total Revenue per Audited Statements
$74,627
Total Revenue per Form 990
$66,170
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$28,298
Total Fundraising Expense$570
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$4,250$8,877-$13,127
Fees for Services Management-$5,159-$5,159
Office Expenses$2,099$1,012$570$3,681
Fees for Services Other$22$1,816-$1,838
Depreciation Depletion-$1,634-$1,634
Advertising-$930-$930
Insurance-$580-$580
Other Expenses$39$255-$39
All Other Expenses$5$15-$20
Total Functional Expenses$7,045$20,683$570$28,298

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$36,755
Expenses per Audited Statements$28,298
Total Expenses per Form 990$28,298
Expenses Not Reported on Form 990$8,457
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$15,609
Fundraising Direct Expenses$808
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Art Auction$15,609$15,609$808$14,801
Total Events$15,609$15,609$808$14,801
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
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
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

“The form 990 is reviewed by the treasurer and the board of directors prior to filing the return.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Beloit Fine Arts Incubator
EIN
39-2040460
Phone
6083139083
Address
520 EAST GRAND AVENUE, BELOIT, WI 53511

Signing Officer

Name
Jerry Sveum
Title
President
Phone
8156245245
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Sveum
Formed
2001
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
12

Preparer

Firm
Siepert & Co Llp
Address
1920 WEST HART ROAD, BELOIT, WI 53511
Preparer
Dennis E Hildebrandt
Phone
6083652266
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

“The organization previously submitted a form 990-n. The organization subsequently decided to submit a full form 990 to be marked as amended.”

Form 990, Part XI, Line 9

“Direct expenses netted against related revenues 8,457 direct expenses netted against related revenues -8,457”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

“Direct expenses netted against related revenues 8,457”

Schedule D, Page 4, Part XII, Line 2D

“Direct expenses netted against related revenues 8,457”

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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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT EXPENSES NETTED AGAINST RELATED REVENUES 8,457
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION PREVIOUSLY SUBMITTED A FORM 990-N. THE ORGANIZATION SUBSEQUENTLY DECIDED TO SUBMIT A FULL FORM 990 TO BE MARKED AS AMENDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE TREASURER AND THE BOARD OF DIRECTORS PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECT EXPENSES NETTED AGAINST RELATED REVENUES 8,457 DIRECT EXPENSES NETTED AGAINST RELATED REVENUES -8,457
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, ITEM B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/TaxablePartyNotificationInd0false
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IRS990/USAddress/AddressLine1Txt0520 E GRAND AVENUE
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IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053511
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.BELOITARTCENTER.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JERRY SVEUM
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08156245245
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BELOIT FINE ARTS INCUBATOR
ReturnHeader/Filer/BusinessNameControlTxt0BELO
ReturnHeader/Filer/EIN0392040460
ReturnHeader/Filer/PhoneNum06083139083
ReturnHeader/Filer/USAddress/AddressLine1Txt0520 EAST GRAND AVENUE
ReturnHeader/Filer/USAddress/CityNm0BELOIT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0391224176
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SIEPERT & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01920 WEST HART ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BELOIT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd053511
ReturnHeader/PreparerPersonGrp/PhoneNum06083652266
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DENNIS E HILDEBRANDT
ReturnHeader/ReturnTs02017-11-14T11:26:55-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-01-01
ReturnHeader/TaxPeriodEndDt02016-12-31
ReturnHeader/TaxYr02016

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$73,403
Liabilities
$5,468
Net assets
$67,935
Revenue
$66,170
Expenses
$28,298
Net income
$37,872
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.24$1.17$2.07$1.14$0.78$0.36
2023Detailed filing. Detailed filing data is available for this year.$2.40$0.69$1.71$1.01$0.69$0.32
2022Detailed filing. Detailed filing data is available for this year.$2.20$0.82$1.38$0.65$0.58$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.98$0.67$1.31$0.57$0.27$0.30
2020Detailed filing. Detailed filing data is available for this year.$1.69$0.68$1.01$0.89$0.46$0.44
2019Detailed filing. Detailed filing data is available for this year.$0.59$0.02$0.58$0.49$0.53$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.66$0.04$0.62$0.47$0.47$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.73$0.05$0.68$0.66$0.28$0.38