Civic Intelligence

Mainframe Studios

990 • Fiscal year 2020 • EIN 46-1637111

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2022

Organization ProfileMAINFRAMESTUDIOS.ORG
900 Keosauqua Way No 100Des Moines, IA 50309

(515) 282-5000

Siviq Scores

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

Liabilities / Assets

29th percentile

0.04x

Higher debt load relative to assets than 29% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

32nd percentile

0.11x

Higher debt load relative to revenue than 32% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

95th percentile

75%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

74th percentile

20%

Faster asset growth than 74% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

86th percentile

42%

Faster revenue growth than 86% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$9,188,448

Up $1,552,455 (+20%) from 2019

Net Assets

Up

$8,793,130

Up $2,721,717 (+45%) from 2019

Liabilities

Down

$395,318

Down $1,169,262 (-75%) from 2019

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin95th percentile

Revenue

Up

$3,646,448

Up $1,080,610 (+42%) from 2019

Expenses

Down

$924,730

Down $91,208 (-9.0%) from 2019

Net Income

Up

$2,721,718

Up $1,171,818 (+76%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth74th percentile

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

$15M$10M$5.0M$0Assets 2014: $2,365,495Liabilities 2014: $1,600,725Net Assets 2014: $764,7702014Assets 2015: $2,910,290Liabilities 2015: $1,726,314Net Assets 2015: $1,183,9762015Assets 2016: $2,785,656Liabilities 2016: $286,384Net Assets 2016: $2,499,2722016Assets 2017: $5,867,521Liabilities 2017: $2,251,217Net Assets 2017: $3,616,3042017Assets 2018: $6,447,422Liabilities 2018: $1,925,910Net Assets 2018: $4,521,5122018Assets 2019: $7,635,993Liabilities 2019: $1,564,580Net Assets 2019: $6,071,4132019Assets 2020: $9,188,448Liabilities 2020: $395,318Net Assets 2020: $8,793,1302020Assets 2021: $8,963,700Liabilities 2021: $303,675Net Assets 2021: $8,660,0252021Assets 2022: $10,836,605Liabilities 2022: $481,289Net Assets 2022: $10,355,3162022Assets 2023: $10,125,236Liabilities 2023: $251,831Net Assets 2023: $9,873,4052023Assets 2024: $9,808,236Liabilities 2024: $254,900Net Assets 2024: $9,553,3362024

Highlighted filing

2020

Assets$9,188,448
Liabilities$395,318
Net Assets$8,793,130
Open 2020 Filing

Operations Trend

Revenue Growth86th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2014: $768,580Expenses 2014: $11,138Net Income 2014: $757,4422014Revenue 2015: $682,788Expenses 2015: $263,582Net Income 2015: $419,2062015Revenue 2016: $876,836Expenses 2016: $311,483Net Income 2016: $565,3532016Revenue 2017: $1,795,947Expenses 2017: $678,915Net Income 2017: $1,117,0322017Revenue 2018: $1,822,013Expenses 2018: $916,805Net Income 2018: $905,2082018Revenue 2019: $2,565,838Expenses 2019: $1,015,938Net Income 2019: $1,549,9002019Revenue 2020: $3,646,448Expenses 2020: $924,730Net Income 2020: $2,721,7182020Revenue 2021: $1,124,336Expenses 2021: $1,257,441Net Income 2021: -$133,1052021Revenue 2022: $3,251,639Expenses 2022: $1,559,009Net Income 2022: $1,692,6302022Revenue 2023: $1,527,994Expenses 2023: $2,009,905Net Income 2023: -$481,9112023Revenue 2024: $1,662,532Expenses 2024: $1,982,601Net Income 2024: -$320,0692024

Highlighted filing

2020

Revenue$3,646,448
Expenses$924,730
Net Income$2,721,718
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2022
Return Version
2020v4.2
Gross Receipts
$3,646,448
Mission and Program Overview

Mission

Mainframe provides 181 affordable workspaces to over 220 creatives and advances equity & opportunities in the arts. Mainframe hosts monthly open studio events for the public, provides weekly professional development sessions to artists, gives tours for youth and community groups, and rents venue space for community and private events.

Mainframe studios is a new nonprofit model for providing permanent affordable workspace to artists of all disciplines. We are transforming central iowa's art scene by creating a financially self-sustaining economic and cultural driver that stands the test of time. Once fully renovated, mainframe is slated to become the largest nonprofit art studio building in the nation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,487,930$7,328,095▲ $1,840,165
Cash and Non-Interest-Bearing Accounts$1,680,951$1,575,965▼ $104,986
Pledges and Grants Receivable$452,863$267,543▼ $185,320
Prepaid Expenses and Deferred Charges$13,791$14,826▲ $1,035
Accounts Receivable$458$2,019▲ $1,561
Total Assets$7,635,993$9,188,448▲ $1,552,455
Liabilities
Accounts Payable and Accrued Expenses$53,974$184,114▲ $130,140
Mortgage Notes Payable Secured by Investment Property$1,463,077$167,675▼ $1,295,402
Other Liabilities$30,635$32,577▲ $1,942
Deferred Revenue$16,895$10,952▼ $5,943
Total Liabilities$1,564,581$395,318▼ $1,169,263
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$6,071,412$8,793,130▲ $2,721,718
Total Net Assets Fund Balance$6,071,412$8,793,130▲ $2,721,718
Total Liabilities and Net Assets / Fund Balance$7,635,993$9,188,448▲ $1,552,455

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$5,861,181$1,107,916$6,969,097
Land$1,379,858-$1,379,858
Buildings$68,335-$68,335
Equipment$18,721-$18,721
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Justin MandelbaumPresident
John MandelbaumVice President
Amner MartinezMember
Angela ConnollyMember
Connie BoesenMember
Gretchen BohlingMember
Jeff FlemingMember
John McgowanMember
Kathy MurphyMember
Lee RunningMember
Scott RubaMember
Stephen OrrMember
Toni UrbanMember
Jo KasselSecretary
Michael TrettinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,212,294
Program Service Revenue
$432,374
Investment Income
$178
Other Revenue
$1,602
All Other Contributions
$3,204,429
Change in Net Assets
$2,721,718
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$824,760
Salaries, Compensation, and Employee Benefits$99,970
Total Fundraising Expense$31,862
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$336,679$24,232-$360,911
Depreciation Depletion$359,578--$359,578
Other Salaries and Wages$55,719$23,216$13,930$92,865
Fees for Services Management$24,000--$24,000
Advertising$19,462-$2,162$21,624
Fees for Services Other$9,039-$12,534$21,573
Fees for Services Accounting-$12,018$633$12,651
Conferences and Meetings$389$7,477$856$8,722
Information Technology$6,530$1,633-$8,163
Payroll Taxes$4,263$1,776$1,066$7,105
Office Expenses$1,775$1,754$138$3,667
Insurance-$2,661-$2,661
Fees for Services Legal-$667-$667
Other Expenses--$543$543
Total Functional Expenses$817,434$75,434$31,862$924,730
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$32,577
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
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, Part VI, Section A, Line 2

“The president and vice president have a son/father relationship. They work together in a family real estate business and own real estate together. Both are unpaid volunteers and have committed to never receive compensation or profit from mainframe studios.”

Form 990, Part VI, Section B, Line 11B

“The 990 and related schedules were prepared by the executive director and president of the board with guidance from an attorney, a cpa, and the community foundation of greater des moines (the community foundation provides bookkeeping services for mainframe studios). All board members have had the opportunity to review the 990 and provide comments.”

Form 990, Part VI, Section B, Line 12C

“A conflict of interest policy is signed by each board member, reviewed annually by the board of directors, and discussed as needed throughout the year.”

Form 990, Part VI, Section B, Line 15A

“Mainframe board of directors conduct an annual review with its executive director and in a closed session determines compensation for the upcoming year.”

Form 990, Part VI, Section C, Line 19

“There have been no requests by the public for these documents.”

Filing and Contact Details

Filer

Filer Name
Mainframe Studios
EIN
46-1637111
Phone
5152825000
Address
900 KEOSAUQUA WAY NO 100, DES MOINES, IA 50309

Signing Officer

Name
Justin Mandelbaum
Title
President
Phone
5152825000
Signed
2022-11-15

Organization Details

Principal Officer
Justin Mandelbaum
Formed
2012
Legal Domicile
Ia
Voting Board Members
15
Independent Board Members
15
Employees
2
Volunteers
25
Raw XML AppendixShowing 400 of 483 raw XML fields

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/ActivityOrMissionDesc0MAINFRAME STUDIOS IS A NEW NONPROFIT MODEL FOR PROVIDING PERMANENT AFFORDABLE WORKSPACE TO ARTISTS OF ALL DISCIPLINES. WE ARE TRANSFORMING CENTRAL IOWA'S ART SCENE BY CREATING A FINANCIALLY SELF-SUSTAINING ECONOMIC AND CULTURAL DRIVER THAT STANDS THE TEST OF TIME. ONCE FULLY RENOVATED, MAINFRAME IS SLATED TO BECOME THE LARGEST NONPROFIT ART STUDIO BUILDING IN THE NATION.
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IRS990/Desc0PHASE I OF OUR BUILDING RENOVATIONS IS PROVIDING 75 NONRESIDENTIAL WORKSPACES TO OVER 85 INDIVIDUAL CREATIVE PROFESSIONALS AND FIVE ARTS-RELATED NONPROFITS. OUR 4,650 SQUARE FOOT EVENTS SPACE PROVIDES A PLACE FOR WEDDINGS, CONFERENCES, WORKSHOPS, CORPORATE EVENTS AND FUNDRAISERS TO OCCUR FOR A RENTAL FEE. THERE ARE 100 ARTISTS ON OUR LIST WHO HAVE PAID DEPOSIT, WAITING FOR ANOTHER FLOOR TO BE RENOVATED INTO STUDIOS. DESPITE 2020'S NUMEROUS CHALLENGES, MAINFRAME STUDIOS IS PERSEVERING, FURTHERING ITS MISSION AND CAPITAL CAMPAIGN WITH GREAT PROMISE. CONSTRUCTION BEGAN IN EARLY JUNE TO RENOVATE ONE MORE FLOOR OF STUDIOS AND DEMAND FOR SPACE REMAINS STRONG. WE AIM TO SERVE AS A BEACON, DEMONSTRATING THAT INVESTING IN THE CREATIVE ECONOMY WORKS, EVEN IN TIMES OF CRISIS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/MissionDesc0MAINFRAME STUDIOS IS A NEW NONPROFIT MODEL FOR PROVIDING PERMANENT AFFORDABLE WORKSPACE TO ARTISTS OF ALL DISCIPLINES. WE ARE TRANSFORMING CENTRAL IOWA'S ART SCENE BY CREATING A FINANCIALLY SELF-SUSTAINING ECONOMIC AND CULTURAL DRIVER THAT STANDS THE TEST OF TIME.
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IRS990/OfficeExpensesGrp/TotalAmt03667
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IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherSalariesAndWagesGrp/FundraisingAmt013930
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt023216
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt055719
IRS990/OtherSalariesAndWagesGrp/TotalAmt092865
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01066
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01776
IRS990/PayrollTaxesGrp/ProgramServicesAmt04263
IRS990/PayrollTaxesGrp/TotalAmt07105
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0452863
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0267543
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt013791
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014826
IRS990/PrincipalOfficerNm0JUSTIN MANDELBAUM
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/BusinessCd1531120
IRS990/ProgramServiceRevenueGrp/Desc0STUDIO RENTAL
IRS990/ProgramServiceRevenueGrp/Desc1EVENT SPACE RENTAL
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0424731
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt17643
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0424731
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt17643
IRS990/ProgSrvcAccomActy2Grp/Desc0MAINFRAME STUDIOS NORMALLY SPENDS OVER 80% OF ITS MARKETING BUDGET ON PROGRAMMING MONTHLY FIRST FRIDAY OPEN STUDIO EVENTS. THESE OPEN HOUSE EVENTS FEATURE A DIFFERENT ART THEME EACH TIME, ALONG WITH LIVE MUSIC, POP-UP PERFORMANCES AND DINNER OPTIONS. ARTISTS OPEN THEIR STUDIOS TO CONNECT WITH POTENTIAL CUSTOMERS AND OTHER RESOURCES THAT FURTHER THEIR CAREERS. DURING THE PANDEMIC WHILE OUR DOORS REMAINED CLOSED FOR SEVERAL MONTHS, MARKETING AND PROGRAMMING SHIFTED TO DEVELOPING ONLINE CONTENT IN THE FORM OF ARTIST INTERVIEWS, ZOOM EVENTS AND TESTING A NEW IOWA CREATIVE INCUBATOR PROGRAM THAT FOCUSED ON SUPPORTING THE WORK OF BIPIC ARTISTS AND THEIR SOCIAL ENGAGEMENT PROJECTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt037196
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
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IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt02124648
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IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherRevenueAmt01955
IRS990/PYProgramServiceRevenueAmt0439225
IRS990/PYRevenuesLessExpensesAmt01549900
IRS990/PYSalariesCompEmpBnftPaidAmt081814
IRS990/PYTotalExpensesAmt01015938
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IRS990/PYTotalRevenueAmt02565838
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt02721718
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt01469
IRS990/ReportInvestmentsOtherSecInd00
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0432374
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01420620
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt01614836
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0762000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt09134398
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt01780
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt01966
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt09521
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt02302
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt031508
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt047077
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0432374
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0439225
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0391873
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0178809
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01442281
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt047077
IRS990ScheduleA/InvestmentIncomeCYPct00.00440
IRS990ScheduleA/InvestmentIncomePYPct00.01000
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IRS990ScheduleA/PublicSupportCY509Pct00.99560
IRS990ScheduleA/PublicSupportPY509Pct00.99000
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02563873
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IRS990ScheduleA/Total509Grp/TotalAmt010576679
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01822014
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01795947
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0793508
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt010623756
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt068335
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt068335
IRS990ScheduleD/EquipmentGrp/BookValueAmt018721
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt018721
IRS990ScheduleD/LandGrp/BookValueAmt01379858
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt01379858
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt05861181
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt01107916
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt06969097
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt032577
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07328095
IRS990ScheduleD/TotalLiabilityAmt032577
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRESIDENT AND VICE PRESIDENT HAVE A SON/FATHER RELATIONSHIP. THEY WORK TOGETHER IN A FAMILY REAL ESTATE BUSINESS AND OWN REAL ESTATE TOGETHER. BOTH ARE UNPAID VOLUNTEERS AND HAVE COMMITTED TO NEVER RECEIVE COMPENSATION OR PROFIT FROM MAINFRAME STUDIOS.

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,188,448
Liabilities
$395,318
Net assets
$8,793,130
Revenue
$3,646,448
Expenses
$924,730
Net income
$2,721,718
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.81$0.25$9.55$1.66$1.98$0.32
2023Detailed filing. Detailed filing data is available for this year.$10.1$0.25$9.87$1.53$2.01$0.48
2022Detailed filing. Detailed filing data is available for this year.$10.8$0.48$10.4$3.25$1.56$1.69
2021Detailed filing. Detailed filing data is available for this year.$8.96$0.30$8.66$1.12$1.26$0.13
2020Detailed filing. Detailed filing data is available for this year.$9.19$0.40$8.79$3.65$0.92$2.72
2019Summary only. Only limited summary data is available for this year.$7.64$1.56$6.07$2.57$1.02$1.55
2018Summary only. Only limited summary data is available for this year.$6.45$1.93$4.52$1.82$0.92$0.91
2017Summary only. Only limited summary data is available for this year.$5.87$2.25$3.62$1.80$0.68$1.12
2016Summary only. Only limited summary data is available for this year.$2.79$0.29$2.50$0.88$0.31$0.57
2015Summary only. Only limited summary data is available for this year.$2.91$1.73$1.18$0.68$0.26$0.42
2014Summary only. Only limited summary data is available for this year.$2.37$1.60$0.76$0.77$0.01$0.76
Peer Organizations

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