Civic Intelligence

Duluth Art Institute Association

990 • Fiscal year 2015 • EIN 41-0945449

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 10, 2015

506 W Michigan StreetDuluth, MN 55802

(218) 733-7560

Siviq Scores

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

Liabilities / Assets

65th percentile

0.02x

Higher debt load relative to assets than 65% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

68th percentile

0.02x

Higher debt load relative to revenue than 68% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

70th percentile

14%

Higher net margin than 70% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

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.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

66th percentile

13%

Faster asset growth than 66% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

56th percentile

4.7%

Faster revenue growth than 56% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Up

$427,550

Up $50,127 (+13%) from 2014

Net Assets

Up

$419,484

Up $59,068 (+16%) from 2014

Liabilities

Down

$8,066

Down $8,941 (-53%) from 2014

Revenue

Up

$417,392

Up $18,785 (+4.7%) from 2014

Expenses

Down

$358,255

Down $51,603 (-13%) from 2014

Net Income

Up

$59,137

Up $70,388 (+626%) from 2014

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $526,503Liabilities 2011: $13,705Net Assets 2011: $512,7982011Assets 2012: $439,560Liabilities 2012: $11,794Net Assets 2012: $427,7662012Assets 2013: $386,060Liabilities 2013: $14,393Net Assets 2013: $371,6672013Assets 2014: $377,423Liabilities 2014: $17,007Net Assets 2014: $360,4162014Assets 2015: $427,550Liabilities 2015: $8,066Net Assets 2015: $419,4842015Assets 2016: $497,307Liabilities 2016: $6,829Net Assets 2016: $490,4782016Assets 2017: $432,668Liabilities 2017: $11,199Net Assets 2017: $421,4692017Assets 2018: $417,900Liabilities 2018: $8,534Net Assets 2018: $409,3662018Assets 2019: $373,918Liabilities 2019: $6,162Net Assets 2019: $367,7562019Assets 2020: $564,832Liabilities 2020: $153,779Net Assets 2020: $411,0532020Assets 2021: $558,114Liabilities 2021: $170,163Net Assets 2021: $387,9512021Assets 2022: $412,976Liabilities 2022: $166,433Net Assets 2022: $246,5432022Assets 2023: $457,556Liabilities 2023: $163,487Net Assets 2023: $294,0692023Assets 2024: $412,671Liabilities 2024: $197,057Net Assets 2024: $215,6142024

Highlighted filing

2015

Assets$427,550
Liabilities$8,066
Net Assets$419,484

Operations Trend

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

$1.0M$500K$0-$500KExpenses 2011: $438,4232011Expenses 2012: $400,9462012Revenue 2013: $394,177Expenses 2013: $450,276Net Income 2013: -$56,0992013Revenue 2014: $398,607Expenses 2014: $409,858Net Income 2014: -$11,2512014Revenue 2015: $417,392Expenses 2015: $358,255Net Income 2015: $59,1372015Revenue 2016: $446,225Expenses 2016: $372,339Net Income 2016: $73,8862016Revenue 2017: $310,601Expenses 2017: $400,539Net Income 2017: -$89,9382017Revenue 2018: $450,605Expenses 2018: $462,708Net Income 2018: -$12,1032018Revenue 2019: $455,546Expenses 2019: $497,156Net Income 2019: -$41,6102019Revenue 2020: $439,114Expenses 2020: $403,015Net Income 2020: $36,0992020Revenue 2021: $410,312Expenses 2021: $436,824Net Income 2021: -$26,5122021Revenue 2022: $442,991Expenses 2022: $568,122Net Income 2022: -$125,1312022Revenue 2023: $604,447Expenses 2023: $560,310Net Income 2023: $44,1372023Revenue 2024: $625,653Expenses 2024: $704,108Net Income 2024: -$78,4552024

Highlighted filing

2015

Revenue$417,392
Expenses$358,255
Net Income$59,137
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 10, 2015
Return Version
2014v5.0
Gross Receipts
$417,392
Mission and Program Overview

Mission

Recognize, validate and support the creation of art in all forms and encourage participation and appreciation for arts in duluth, mn

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$270,917$279,639▲ $8,722
Cash and Non-Interest-Bearing Accounts$30,615$73,317▲ $42,702
Investments Other Securities$72,366$72,297▼ $69
Accounts Receivable$2,968$1,740▼ $1,228
Prepaid Expenses and Deferred Charges$557$557→ $0
Total Assets$377,423$427,550▲ $50,127
Liabilities
Accounts Payable and Accrued Expenses$14,623$8,066▼ $6,557
Unsecured Notes Loans Payable$2,384--
Total Liabilities$17,007$8,066▼ $8,941
Net Assets / Fund Balance
Unrestricted Net Assets$288,050$342,187▲ $54,137
Permanently Rstr Net Assets$72,366$72,297▼ $69
Temporarily Rstr Net Assets-$5,000-
Total Net Assets Fund Balance$360,416$419,484▲ $59,068
Total Liabilities and Net Assets / Fund Balance$377,423$427,550▲ $50,127

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$267,490$177,484$444,974
Equipment$12,149$127,393$139,542
Other Securities$72,297--
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$244,156
Program Service Revenue
$173,236
Investment Income
$0
Other Revenue
$0
All Other Contributions
$226,793
Change in Net Assets
$59,137

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported Amount
Other Non Cash Contri Table1$42,444
Total Noncash Contributions1$42,444

Audited Revenue Reconciliation

Revenue per Audited Statements
$417,392
Revenue Not Reported on Form 990
$-69
Total Revenue per Audited Statements
$417,323
Total Revenue per Form 990
$417,392
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$224,225
Salaries, Compensation, and Employee Benefits$134,030
Total Fundraising Expense$12,630
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$94,931$21,907$4,868$121,706
Occupancy$73,421$7,744-$81,165
Office Expenses$16,405$1,359$2,276$20,040
Depreciation Depletion$13,261$2,340-$15,601
All Other Expenses$5,002$4,778$4,393$14,173
Payroll Taxes$8,621$1,989$442$11,052
Other Expenses$5,402$6,769$600$5,402
Insurance-$3,320-$3,320
Advertising$1,573$968-$2,541
Fees for Services Accounting-$2,500-$2,500
Fees for Services Other-$2,025-$2,025
Other Employee Benefits$992$229$51$1,272
Total Functional Expenses$285,887$59,738$12,630$358,255

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$358,255
Total Expenses per Audited Statements$358,255
Total Expenses per Form 990$358,255
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
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, Page 6, Part VI, Line 11B

Reviewed 990 at board meeting.

Form 990, Page 6, Part VI, Line 12C

Review conflict disclosures annually.

Form 990, Page 6, Part VI, Line 15A

Executive director compensation determined by board after review of compar able data in the region.

Form 990, Page 6, Part VI, Line 19

Documents available upon request.

Filing and Contact Details

Filer

Filer Name
Duluth Art Institute Assoc
EIN
41-0945449
Phone
2187337560
Address
506 W MICHIGAN STREET, DULUTH, MN 55802

Signing Officer

Name
Matthew Cartier
Title
President
Phone
2187337560
Signed
2015-12-10

Organization Details

Formed
1907
Legal Domicile
Mn
Voting Board Members
14
Independent Board Members
14
Employees
7

Preparer

Firm
Licari Larsen and Company
Address
130 W SUPERIOR ST STE 712, DULUTH, MN 55802
Preparer
Steven S Licari
Phone
2187222226
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change in beneficial interest -69

Financial Statement Notes

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

Change in beneficial interest -69

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CHANGE IN BENEFICIAL INTEREST -69
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEW CONFLICT DISCLOSURES ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE DIRECTOR COMPENSATION DETERMINED BY BOARD AFTER REVIEW OF COMPAR ABLE DATA IN THE REGION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS AVAILABLE UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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IRS990/TerminateOperationsInd0false
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.13$1.97$2.16$6.26$7.04$0.78
2023Detailed filing. Detailed filing data is available for this year.$4.58$1.63$2.94$6.04$5.60$0.44
2022Detailed filing. Detailed filing data is available for this year.$4.13$1.66$2.47$4.43$5.68$1.25
2021Detailed filing. Detailed filing data is available for this year.$5.58$1.70$3.88$4.10$4.37$0.27
2020Detailed filing. Detailed filing data is available for this year.$5.65$1.54$4.11$4.39$4.03$0.36
2019Detailed filing. Detailed filing data is available for this year.$3.74$0.06$3.68$4.56$4.97$0.42
2018Detailed filing. Detailed filing data is available for this year.$4.18$0.09$4.09$4.51$4.63$0.12
2017Detailed filing. Detailed filing data is available for this year.$4.33$0.11$4.21$3.11$4.01$0.90
2016Detailed filing. Detailed filing data is available for this year.$4.97$0.07$4.90$4.46$3.72$0.74
2015Detailed filing. Detailed filing data is available for this year.$4.28$0.08$4.19$4.17$3.58$0.59
2014Detailed filing. Detailed filing data is available for this year.$3.77$0.17$3.60$3.99$4.10$0.11
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.86$0.14$3.72$3.94$4.50$0.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.40$0.12$4.28$4.01
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.27$0.14$5.13$4.38