Civic Intelligence

Ball & Socket Arts Inc.

990 • Fiscal year 2015 • EIN 45-4079423

Jul 01, 2014 to Jun 30, 2015 • Filed on Jan 24, 2016

Organization ProfileWWW.BALLANDSOCKET.ORG
762 Bethany Mountain RoadCheshire, CT 06410

(917) 414-4020

Siviq Scores

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

Liabilities / Assets

90th percentile

0.95x

Higher debt load relative to assets than 90% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

99th percentile

23.10x

Higher debt load relative to revenue than 99% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

92nd percentile

51%

Higher net margin than 92% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

100th percentile

2914%

Faster asset growth than 100% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

94th percentile

108%

Faster revenue growth than 94% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets90th percentile

Assets

Up

$2,236,032

Up $2,161,839 (+2914%) from 2014

Net Assets

Up

$119,015

Up $47,322 (+66%) from 2014

Liabilities

Up

$2,117,017

Up $2,114,517 (+84581%) from 2014

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin92nd percentile

Revenue

Up

$91,647

Up $47,634 (+108%) from 2014

Expenses

Up

$45,060

Up $40,496 (+887%) from 2014

Net Income

Up

$46,587

Up $7,138 (+18%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$10M$5.0M$0Assets 2012: $31,264Liabilities 2012: $02012Assets 2014: $74,193Liabilities 2014: $2,500Net Assets 2014: $71,6932014Assets 2015: $2,236,032Liabilities 2015: $2,117,017Net Assets 2015: $119,0152015Assets 2016: $2,257,346Liabilities 2016: $1,906,211Net Assets 2016: $351,1352016Assets 2017: $2,379,954Liabilities 2017: $1,940,736Net Assets 2017: $439,2182017Assets 2018: $2,462,108Liabilities 2018: $1,907,811Net Assets 2018: $554,2972018Assets 2019: $2,552,341Liabilities 2019: $1,959,035Net Assets 2019: $593,3062019Assets 2020: $2,698,286Liabilities 2020: $2,016,185Net Assets 2020: $682,1012020Assets 2021: $2,953,138Liabilities 2021: $2,162,891Net Assets 2021: $790,2472021Assets 2022: $7,637,773Liabilities 2022: $5,659,628Net Assets 2022: $1,978,1452022Assets 2023: $7,725,090Liabilities 2023: $4,881,923Net Assets 2023: $2,843,1672023Assets 2025: $9,326,986Liabilities 2025: $3,225,529Net Assets 2025: $6,101,4572025

Highlighted filing

2015

Assets$2,236,032
Liabilities$2,117,017
Net Assets$119,015
Open 2015 Filing

Operations Trend

Revenue Growth94th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2012: $37,500Expenses 2012: $6,236Net Income 2012: $31,2642012Revenue 2014: $44,013Expenses 2014: $4,564Net Income 2014: $39,4492014Revenue 2015: $91,647Expenses 2015: $45,060Net Income 2015: $46,5872015Revenue 2016: $296,899Expenses 2016: $64,779Net Income 2016: $232,1202016Revenue 2017: $117,295Expenses 2017: $29,212Net Income 2017: $88,0832017Revenue 2018: $176,045Expenses 2018: $59,717Net Income 2018: $116,3282018Revenue 2019: $78,481Expenses 2019: $38,885Net Income 2019: $39,5962019Revenue 2020: $111,084Expenses 2020: $22,289Net Income 2020: $88,7952020Revenue 2021: $151,938Expenses 2021: $43,792Net Income 2021: $108,1462021Revenue 2022: $1,260,388Expenses 2022: $69,359Net Income 2022: $1,191,0292022Revenue 2023: $1,247,243Expenses 2023: $425,708Net Income 2023: $821,5352023Revenue 2025: $3,172,794Expenses 2025: $696,685Net Income 2025: $2,476,1092025

Highlighted filing

2015

Revenue$91,647
Expenses$45,060
Net Income$46,587
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Jan 24, 2016
Return Version
2014v6.0
Gross Receipts
$91,647
Mission and Program Overview

Mission

Ball & socket arts is transforming an abandoned industrial campus into an innovative and dynamic arts destination for the central connecticut region (and beyond). Built on the ethos of sustainability and historic preservation, ball & socket arts offers vibrant arts & culture programming and provides accessible and relevant experiences to a broad public audience.

The organization's mission is as follows: a. To promote and sustain community interest in and appreciation of the visual and performing arts b. To educate the general public about the visual and performing arts c. To support young and needy artists d. To create a multi-faceted arts and educational center to host and facilitate the aforementioned activities

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$70,793$1,483,377▲ $1,412,584
Cash and Non-Interest-Bearing Accounts$4,135$382,551▲ $378,416
Pledges and Grants Receivable-$360,662-
Intangible Assets-$7,122-
Total Assets$74,928$2,236,032▲ $2,161,104
Other Assets Total-$2,320-
Liabilities
Mortgage Notes Payable Secured by Investment Property-$1,689,000-
Deferred Revenue-$360,664-
Accounts Payable and Accrued Expenses-$67,353-
Unsecured Notes Loans Payable$2,500--
Total Liabilities$2,500$2,117,017▲ $2,114,517
Net Assets / Fund Balance
Unrestricted Net Assets$72,428$119,015▲ $46,587
Total Net Assets Fund Balance$72,428$119,015▲ $46,587
Total Liabilities and Net Assets / Fund Balance$74,928$2,236,032▲ $2,161,104

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,268,239-$1,268,239
Land$197,572-$197,572
Other Land Buildings$17,566$98$17,664
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Kevin DalyPresident
Ann Marie HearnDirector
Debbie HesseDirector
Matthew HallDirector
Philip AndersonDirector
Richard LauDirector
Sheldon DillDirector
Zsuzsanna SomogyiDirector
Jeffrey GuimondSecretary
Ilona SomogyiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$84,921
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$6,726
All Other Contributions
$20,585
Change in Net Assets
$46,587

Audited Revenue Reconciliation

Revenue per Audited Statements
$91,647
Total Revenue per Audited Statements
$91,647
Total Revenue per Form 990
$91,647
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$45,060
Total Fundraising Expense$862
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other-$27,599-$27,599
Occupancy$6,473--$6,473
Office Expenses-$3,340-$3,340
Travel-$1,914-$1,914
Other Expenses-$2,360$862$862
Fees for Services Accounting-$750-$750
Insurance-$724-$724
Depreciation Depletion-$607-$607
Interest-$431-$431
Total Functional Expenses$6,473$37,725$862$45,060

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$45,060
Total Expenses per Audited Statements$45,060
Total Expenses per Form 990$45,060
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$4,226
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
No
Annual disclosure for covered persons
Yes
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
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

“The organizations board of directors has assigned the duty or reviewing the annual 990 to its standing executive committee. The annual 990 is prepared by the organization's accounting firm working closely with the treasurer. Copies of the completed return are provided to the executive committe for review and upon approval by the executive committee, copies of the 990 form are provided to all board of directors members before the return is filed with the internal revenue service.”

Form 990, Page 6, Part VI, Line 19

“The governing documents of the organization are made available to the general public by receipt of a written request by the interested party”

Filing and Contact Details

Filer

Filer Name
Ball & Socket Arts Inc
EIN
45-4079423
Address
762 BETHANY MOUNTAIN ROAD, CHESHIRE, CT 06410

Signing Officer

Name
Ilona Somogyi
Title
Treasurer
Signed
2016-01-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ilona Somogyi
Formed
2011
Legal Domicile
Ct
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
Budwitz & Meyerjack Pc
Address
1122 HIGHLAND AVE, CHESHIRE, CT 06410
Preparer
David a Pelletier CPA
Phone
2032721621
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The organization's mission is as follows: a. To promote and sustain community interest in and appreciation of the visual and performing arts b. To educate the general public about the visual and performing arts c. To support young and needy artists d. To create a multi-faceted arts and educational center to host and facilitate the aforementioned activities”

Form 990, Page 2, Part III, Line 4A

“Artists for children and adults, and engage artists in residence for special courses create vibrant outdoor public space around the buildings including a sculpture park and art walk, with direct access to the farmington canal linear park”

Form 990, Part IX, Line 11G

“Marketing research 0 27,599 0”

Form 990, Page 12, Part XII, Line 2C

“The organizations board of directors has assigned the duty of reviewing the financial statements to its standing executive committee. Once the financial statements are reviewed and approved by the finance committee, copies of the financial statements are provided to all board of directors members and then filed with all required agencies.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements. The organization's return of organizations exempt from income tax (form 990) for the years ended june 30, 2012, 2013 and 2014 are subject to examination by the irs, generally for three years after they were filed.”

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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/LandGrp/OtherCostOrOtherBasisAmt0197572
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt017566
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt098
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ORGANIZATION'S RETURN OF ORGANIZATIONS EXEMPT FROM INCOME TAX (FORM 990) FOR THE YEARS ENDED JUNE 30, 2012, 2013 AND 2014 ARE SUBJECT TO EXAMINATION BY THE IRS, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S MISSION IS AS FOLLOWS: A. TO PROMOTE AND SUSTAIN COMMUNITY INTEREST IN AND APPRECIATION OF THE VISUAL AND PERFORMING ARTS B. TO EDUCATE THE GENERAL PUBLIC ABOUT THE VISUAL AND PERFORMING ARTS C. TO SUPPORT YOUNG AND NEEDY ARTISTS D. TO CREATE A MULTI-FACETED ARTS AND EDUCATIONAL CENTER TO HOST AND FACILITATE THE AFOREMENTIONED ACTIVITIES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ARTISTS FOR CHILDREN AND ADULTS, AND ENGAGE ARTISTS IN RESIDENCE FOR SPECIAL COURSES CREATE VIBRANT OUTDOOR PUBLIC SPACE AROUND THE BUILDINGS INCLUDING A SCULPTURE PARK AND ART WALK, WITH DIRECT ACCESS TO THE FARMINGTON CANAL LINEAR PARK
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATIONS BOARD OF DIRECTORS HAS ASSIGNED THE DUTY OR REVIEWING THE ANNUAL 990 TO ITS STANDING EXECUTIVE COMMITTEE. THE ANNUAL 990 IS PREPARED BY THE ORGANIZATION'S ACCOUNTING FIRM WORKING CLOSELY WITH THE TREASURER. COPIES OF THE COMPLETED RETURN ARE PROVIDED TO THE EXECUTIVE COMMITTE FOR REVIEW AND UPON APPROVAL BY THE EXECUTIVE COMMITTEE, COPIES OF THE 990 FORM ARE PROVIDED TO ALL BOARD OF DIRECTORS MEMBERS BEFORE THE RETURN IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE GENERAL PUBLIC BY RECEIPT OF A WRITTEN REQUEST BY THE INTERESTED PARTY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MARKETING RESEARCH 0 27,599 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATIONS BOARD OF DIRECTORS HAS ASSIGNED THE DUTY OF REVIEWING THE FINANCIAL STATEMENTS TO ITS STANDING EXECUTIVE COMMITTEE. ONCE THE FINANCIAL STATEMENTS ARE REVIEWED AND APPROVED BY THE FINANCE COMMITTEE, COPIES OF THE FINANCIAL STATEMENTS ARE PROVIDED TO ALL BOARD OF DIRECTORS MEMBERS AND THEN FILED WITH ALL REQUIRED AGENCIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 12, PART XII, LINE 2C
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IRS990/USAddress/AddressLine1Txt0762 BETHANY MOUNTAIN ROAD
IRS990/USAddress/CityNm0CHESHIRE
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IRS990/WebsiteAddressTxt0WWW.BALLANDSOCKET.ORG
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ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ILONA SOMOGYI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-01-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BALL & SOCKET ARTS INC
ReturnHeader/Filer/BusinessNameControlTxt0BALL
ReturnHeader/Filer/EIN0454079423
ReturnHeader/Filer/USAddress/AddressLine1Txt0762 BETHANY MOUNTAIN ROAD
ReturnHeader/Filer/USAddress/CityNm0CHESHIRE
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUDWITZ & MEYERJACK PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01122 HIGHLAND AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHESHIRE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd006410
ReturnHeader/PreparerPersonGrp/PhoneNum02032721621
ReturnHeader/PreparerPersonGrp/PreparationDt02016-02-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A PELLETIER CPA
ReturnHeader/ReturnTs02016-02-02T14:48:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,236,032
Liabilities
$2,117,017
Net assets
$119,015
Revenue
$91,647
Expenses
$45,060
Net income
$46,587
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.33$3.23$6.10$3.17$0.70$2.48
2023Summary only. Only limited summary data is available for this year.$7.73$4.88$2.84$1.25$0.43$0.82
2022Summary only. Only limited summary data is available for this year.$7.64$5.66$1.98$1.26$0.07$1.19
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$2.16$0.79$0.15$0.04$0.11
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.70$2.02$0.68$0.11$0.02$0.09
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.55$1.96$0.59$0.08$0.04$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.46$1.91$0.55$0.18$0.06$0.12
2017Summary only. Only limited summary data is available for this year.$2.38$1.94$0.44$0.12$0.03$0.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.26$1.91$0.35$0.30$0.06$0.23
2015Detailed filing. Detailed filing data is available for this year.$2.24$2.12$0.12$0.09$0.05$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$0.04$0.00$0.04
2012Summary only. Only limited summary data is available for this year.$0.03$0.00$0.04$0.01$0.03