Liabilities / Assets
83rd percentile
Higher debt load relative to assets than 83% of similar nonprofits.
Artspace Projects Inc
EIN 41-1350071 • 501(c)3 • Minneapolis, MN
Profile
Artspace's mission is to create, foster, and preserve affordable space for artists and arts organizations.
Siviq Scores
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
0.72x
Liabilities / Revenue
85th percentile
Higher debt load relative to revenue than 85% of similar nonprofits.
Net Margin
7th percentile
Higher net margin than 7% of similar nonprofits.
Top Officer Pay
39th percentile
Higher top officer pay than 39% of similar nonprofits.
Top officer pay equals 0.9% of source-year revenue.
Asset Growth
13th percentile
Faster asset growth than 13% of similar nonprofits.
Revenue Growth
59th percentile
Faster revenue growth than 59% of similar nonprofits.
Balance Sheet
Assets
Down$93,960,270
Down $4,718,383 (-4.8%) from 2023
Liabilities
Up$68,119,710
Up $4,817,009 (+7.6%) from 2023
Net Assets
Down$25,840,560
Down $9,535,392 (-27%) from 2023
Revenue
Up$32,698,123
Up $3,554,693 (+12%) from 2023
Expenses
Up$42,238,012
Up $11,853,043 (+39%) from 2023
Net Income
Down-$9,539,889
Down $8,298,350 (-668%) from 2023
Trend Graphs
Filings
Most recent year
2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
- Assets
- $93,960,270
- Liabilities
- $68,119,710
- Net assets
- $25,840,560
- Revenue
- $32,698,123
- Expenses
- $42,238,012
- Net income
- -$9,539,889
Latest Detailed Filing
The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2022 to Dec 31, 2022
- Signed
- Aug 28, 2023
- Return Version
- 2022v5.0
- Gross Receipts
- $31,449,801
Mission and Program Overview
Mission
Artspace's Mission is to create, foster, and preserve affordable space for artists and arts organizations.
To create, foster, and preserve affordable space for artists and arts organizations.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $46,118,501 | $47,730,794 | ▲ $1,612,293 |
| Accounts Receivable | $17,884,349 | $14,208,906 | ▼ $3,675,443 |
| Savings and Temporary Cash Investments | $12,204,379 | $7,992,024 | ▼ $4,212,355 |
| Pledges and Grants Receivable | $249,840 | $1,669,730 | ▲ $1,419,890 |
| Investments Other Securities | $310,563 | $310,563 | → $0 |
| Prepaid Expenses and Deferred Charges | $94,674 | $246,059 | ▲ $151,385 |
| Total Assets | $90,966,612 | $88,532,198 | ▼ $2,434,414 |
| Other Assets Total | $14,104,306 | $16,374,122 | ▲ $2,269,816 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $49,782,988 | $46,173,101 | ▼ $3,609,887 |
| Accounts Payable and Accrued Expenses | $9,618,252 | $10,839,437 | ▲ $1,221,185 |
| Deferred Revenue | $3,182,666 | $2,945,731 | ▼ $236,935 |
| Other Liabilities | $429,300 | $468,665 | ▲ $39,365 |
| Total Liabilities | $63,013,206 | $60,426,934 | ▼ $2,586,272 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $23,095,894 | $23,761,359 | ▲ $665,465 |
| Net Assets With Donor Restrictions | $4,857,512 | $4,343,905 | ▼ $513,607 |
| Total Net Assets Fund Balance | $27,953,406 | $28,105,264 | ▲ $151,858 |
| Total Liabilities and Net | |||