Civic Intelligence

Ball & Socket Arts Inc.

990 • Fiscal year 2016 • EIN 45-4079423

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 26, 2017

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

89th percentile

0.84x

Higher debt load relative to assets than 89% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

6.42x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

97th percentile

78%

Higher net margin than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

49th percentile

1.0%

Faster asset growth than 49% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

97th percentile

224%

Faster revenue growth than 97% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$2,257,346

Up $21,314 (+1.0%) from 2015

Net Assets

Up

$351,135

Up $232,120 (+195%) from 2015

Liabilities

Down

$1,906,211

Down $210,806 (-10.0%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin97th percentile

Revenue

Up

$296,899

Up $205,252 (+224%) from 2015

Expenses

Up

$64,779

Up $19,719 (+44%) from 2015

Net Income

Up

$232,120

Up $185,533 (+398%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth49th 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

2016

Assets$2,257,346
Liabilities$1,906,211
Net Assets$351,135
Open 2016 Filing

Operations Trend

Revenue Growth97th 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

2016

Revenue$296,899
Expenses$64,779
Net Income$232,120
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 26, 2017
Return Version
2015v3.0
Gross Receipts
$314,072
Mission and Program Overview

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,483,377$2,063,635▲ $580,258
Pledges and Grants Receivable$360,662$113,216▼ $247,446
Cash and Non-Interest-Bearing Accounts$382,551$79,175▼ $303,376
Intangible Assets$7,122--
Total Assets$2,236,032$2,257,346▲ $21,314
Other Assets Total$2,320$1,320▼ $1,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,689,000$1,689,000→ $0
Accounts Payable and Accrued Expenses$67,353$109,844▲ $42,491
Deferred Revenue$360,664$107,367▼ $253,297
Total Liabilities$2,117,017$1,906,211▼ $210,806
Net Assets / Fund Balance
Unrestricted Net Assets$119,015$351,135▲ $232,120
Total Net Assets Fund Balance$119,015$351,135▲ $232,120
Total Liabilities and Net Assets / Fund Balance$2,236,032$2,257,346▲ $21,314

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,866,063-$1,866,063
Land$197,572-$197,572
Compensation and Service Providers
Top Officer PayScore unavailable

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
$298,236
Program Service Revenue
$0
Investment Income
$-17,173
Other Revenue
$15,836
All Other Contributions
$19,939
Change in Net Assets
$232,120

Audited Revenue Reconciliation

Revenue per Audited Statements
$296,899
Total Revenue per Audited Statements
$296,899
Total Revenue per Form 990
$296,899
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$64,779
Total Fundraising Expense$3,690
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-$25,480$1,283$26,763
Occupancy$10,174--$10,174
Fees for Services Accounting-$10,000-$10,000
Fees for Services Legal-$9,192-$9,192
Office Expenses-$2,228-$2,228
Interest-$1,359-$1,359
Insurance-$1,273-$1,273
Other Expenses-$542$1,907$542
Advertising--$500$500
Travel-$448-$448
Depreciation Depletion-$393-$393
Total Functional Expenses$10,174$50,915$3,690$64,779

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$64,779
Total Expenses per Audited Statements$64,779
Total Expenses per Form 990$64,779
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$15,836
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Garage Art Auct$15,657$15,657-$15,657
Total Events$15,657$15,657-$15,657
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
2017-01-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Daly
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 06410-1654
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 25,480 0 garage art auction other fees 0 0 1,283”

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 emempt from income tax (form 990) for the years ended june 30, 2013, 2014 and 2015 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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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt037500
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IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt014385
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97000
IRS990ScheduleA/PublicSupportPY509Pct00.98090
IRS990ScheduleA/PublicSupportTotal509Amt0464670
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt084921
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt044013
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt037500
IRS990ScheduleA/Total509Grp/TotalAmt0464670
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0309382
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt088160
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt044013
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt037500
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0479055
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt01866063
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt01866063
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IRS990ScheduleD/LandGrp/BookValueAmt0197572
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0197572
IRS990ScheduleD/RevenueSubtotalAmt0296899
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 EMEMPT FROM INCOME TAX (FORM 990) FOR THE YEARS ENDED JUNE 30, 2013, 2014 AND 2015 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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IRS990ScheduleD/TotalExpensesPerForm990Amt064779
IRS990ScheduleD/TotalRevenuePerForm990Amt0296899
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt064779
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GARAGE ART AUCT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt015657
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt015657
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt015657
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IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt015657
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IRS990/ScheduleORequiredInd0true
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 25,480 0 GARAGE ART AUCTION OTHER FEES 0 0 1,283
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
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IRS990/SignificantChangeInd0false
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IRS990/StatesWhereCopyOfReturnIsFldCd0CT
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02236032
IRS990/TotalAssetsEOYAmt02257346
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0298236
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt03690
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050915
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt010174
IRS990/TotalFunctionalExpensesGrp/TotalAmt064779
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IRS990/TotalLiabilitiesEOYAmt01906211
IRS990/TotalLiabilitiesGrp/BOYAmt02117017
IRS990/TotalLiabilitiesGrp/EOYAmt01906211
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/USAddress/CityNm0CHESHIRE
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IRS990/USAddress/ZIPCd006410
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IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.BALLANDSOCKET.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ILONA SOMOGYI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-01-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BALL & SOCKET ARTS INC
ReturnHeader/Filer/BusinessNameControlTxt0BALL
ReturnHeader/Filer/EIN0454079423
ReturnHeader/Filer/USAddress/AddressLine1Txt0762 BETHANY MOUNTAIN ROAD
ReturnHeader/Filer/USAddress/CityNm0CHESHIRE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006410
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061218594
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUDWITZ & MEYERJACK PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01122 HIGHLAND AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHESHIRE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0064101654
ReturnHeader/PreparerPersonGrp/PhoneNum02032721621
ReturnHeader/PreparerPersonGrp/PreparationDt02017-01-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A PELLETIER CPA
ReturnHeader/ReturnTs02017-02-08T08:56:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$2,257,346
Liabilities
$1,906,211
Net assets
$351,135
Revenue
$296,899
Expenses
$64,779
Net income
$232,120
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
2016Detailed filing. Detailed filing data is available for this year.$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