Civic Intelligence

Mainframe Studios

990 • Fiscal year 2021 • EIN 46-1637111

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileMAINFRAMESTUDIOS.ORG
900 Keosauqua Way 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

31st percentile

0.03x

Higher debt load relative to assets than 31% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

62nd percentile

0.27x

Higher debt load relative to revenue than 62% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

12th percentile

-12%

Higher net margin than 12% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Asset Growth

17th percentile

-2.4%

Faster asset growth than 17% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

2nd percentile

-69%

Faster revenue growth than 2% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$8,963,700

Down $224,748 (-2.4%) from 2020

Net Assets

Down

$8,660,025

Down $133,105 (-1.5%) from 2020

Liabilities

Down

$303,675

Down $91,643 (-23%) from 2020

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin12th percentile

Revenue

Down

$1,124,336

Down $2,522,112 (-69%) from 2020

Expenses

Up

$1,257,441

Up $332,711 (+36%) from 2020

Net Income

Down

-$133,105

Down $2,854,823 (-105%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth17th 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

2021

Assets$8,963,700
Liabilities$303,675
Net Assets$8,660,025
Open 2021 Filing

Operations Trend

Revenue Growth2nd 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

2021

Revenue$1,124,336
Expenses$1,257,441
Net Income-$133,105
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.2
Gross Receipts
$1,125,712
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$7,328,095$7,993,570▲ $665,475
Cash and Non-Interest-Bearing Accounts$1,575,965$626,469▼ $949,496
Pledges and Grants Receivable$267,543$339,527▲ $71,984
Prepaid Expenses and Deferred Charges$14,826$4,134▼ $10,692
Accounts Receivable$2,019--
Total Assets$9,188,448$8,963,700▼ $224,748
Liabilities
Mortgage Notes Payable Secured by Investment Property$167,675$155,967▼ $11,708
Deferred Revenue$10,952$62,841▲ $51,889
Other Liabilities$32,577$47,886▲ $15,309
Accounts Payable and Accrued Expenses$184,114$36,981▼ $147,133
Total Liabilities$395,318$303,675▼ $91,643
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,793,130$8,660,025▼ $133,105
Total Net Assets Fund Balance$8,793,130$8,660,025▼ $133,105
Total Liabilities and Net Assets / Fund Balance$9,188,448$8,963,700▼ $224,748

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$6,502,646$1,640,547$8,143,193
Land$1,379,858-$1,379,858
Buildings$68,335-$68,335
Equipment$42,731-$42,731
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Justin MandelbaumPresident
John McgowanVice President
Amner MartinezMember
Angela ConnollyMember
Jeff FlemingMember
Jo KasselMember
John MandelbaumMember
Lee RunningMember
Markaus AshworthMember
Scott RubaMember
Steven OrrMember
Toni UrbanMember
Gretchen BohlingSecretary
Michael TrettinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$421,762
Program Service Revenue
$701,475
Investment Income
$81
Other Revenue
$1,018
All Other Contributions
$350,063
Change in Net Assets
$-133,105
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,133,974
Salaries, Compensation, and Employee Benefits$121,467
Total Fundraising Expense$38,719
Professional Fundraising Fees$2,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$532,631--$532,631
Occupancy$425,267$19,746-$445,013
Other Salaries and Wages$66,984$27,910$16,746$111,640
Advertising$29,371-$3,263$32,634
Fees for Services Management$24,000--$24,000
Fees for Services Other$6,911$10,026$2,314$19,251
Fees for Services Accounting$1,241$9,926$1,241$12,408
Information Technology$9,754$2,439-$12,193
Payroll Taxes$5,124$2,135$1,281$8,540
Other Expenses-$27,583$8,346$8,346
Conferences and Meetings$1,822$2,582$2,582$6,986
Insurance-$4,597-$4,597
Office Expenses$1,964$1,723$631$4,318
Fees for Services Legal-$3,404-$3,404
Fees for Services Professional Fundraising--$2,000$2,000
Pension Plan Contributions$772$322$193$1,287
Travel$488-$122$610
Total Functional Expenses$1,106,329$112,393$38,719$1,257,441
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$2,000
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$47,886
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/founder justin mandelbaum and board member john mandelbaum have a son/father relationship. 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

“Mainframe studios requires each board member to sign a conflict of interest policy statement on an annual basis.”

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

“Mainframe studios 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 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
14
Independent Board Members
14
Employees
2
Volunteers
25
Raw XML AppendixShowing 400 of 487 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/ProgSrvcAccomActy2Grp/RevenueAmt00
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Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,963,700
Liabilities
$303,675
Net assets
$8,660,025
Revenue
$1,124,336
Expenses
$1,257,441
Net income
-$133,105
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

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • $5M-$10M nonprofits