Civic Intelligence

Breckenridge Creative Arts

990 • Fiscal year 2018 • EIN 47-2066832

Jan 01, 2018 to Dec 31, 2018 • Filed on May 09, 2019

PO Box 4269Breckenridge, CO 80424

(970) 453-3187

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Flat

$291,084

Flat from 2018

Net Assets

Flat

$108,878

Flat from 2018

Liabilities

Flat

$182,206

Flat from 2018

Revenue And Expenses

Revenue

Flat

$2,805,138

Flat from 2018

Expenses

Flat

$2,794,538

Flat from 2018

Net Income

Flat

$10,600

Flat from 2018

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2015: $58,586Liabilities 2015: $107,679Net Assets 2015: -$49,0932015Assets 2016: $182,207Liabilities 2016: $146,823Net Assets 2016: $35,3842016Assets 2017: $235,330Liabilities 2017: $137,052Net Assets 2017: $98,2782017Assets 2018: $291,084Liabilities 2018: $182,206Net Assets 2018: $108,8782018Assets 2018: $291,084Liabilities 2018: $182,206Net Assets 2018: $108,8782018Assets 2019: $411,680Liabilities 2019: $291,500Net Assets 2019: $120,1802019Assets 2020: $1,385,078Liabilities 2020: $193,704Net Assets 2020: $1,191,3742020Assets 2021: $2,416,753Liabilities 2021: $191,797Net Assets 2021: $2,224,9562021Assets 2022: $2,458,689Liabilities 2022: $335,606Net Assets 2022: $2,123,0832022Assets 2023: $2,379,201Liabilities 2023: $276,654Net Assets 2023: $2,102,5472023Assets 2024: $2,221,778Liabilities 2024: $331,324Net Assets 2024: $1,890,4542024

Highlighted filing

2018

Assets$291,084
Liabilities$182,206
Net Assets$108,878

Operations Trend

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

$4.0M$2.0M$0-$2.0MRevenue 2015: $2,088,696Expenses 2015: $2,137,789Net Income 2015: -$49,0932015Revenue 2016: $2,500,324Expenses 2016: $2,415,847Net Income 2016: $84,4772016Revenue 2017: $2,839,240Expenses 2017: $2,776,346Net Income 2017: $62,8942017Revenue 2018: $2,805,138Expenses 2018: $2,794,538Net Income 2018: $10,6002018Revenue 2018: $2,805,138Expenses 2018: $2,794,538Net Income 2018: $10,6002018Revenue 2019: $2,749,401Expenses 2019: $2,738,099Net Income 2019: $11,3022019Revenue 2020: $3,443,032Expenses 2020: $2,390,932Net Income 2020: $1,052,1002020Revenue 2021: $3,508,124Expenses 2021: $2,508,822Net Income 2021: $999,3022021Revenue 2022: $3,097,377Expenses 2022: $3,164,026Net Income 2022: -$66,6492022Revenue 2023: $3,707,583Expenses 2023: $3,771,874Net Income 2023: -$64,2912023Revenue 2024: $3,482,285Expenses 2024: $3,716,403Net Income 2024: -$234,1182024

Highlighted filing

2018

Revenue$2,805,138
Expenses$2,794,538
Net Income$10,600
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 9, 2019
Return Version
2018v3.1
Gross Receipts
$2,805,138
Mission and Program Overview

Mission

To promote breckenridge as a vibrant, year-round creative destination by developing inspiring collaborative experiences that attract visitors and enrich the lives of our citizens.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$86,397$137,144▲ $50,747
Accounts Receivable$117,559$88,104▼ $29,455
Prepaid Expenses and Deferred Charges$26,174$61,286▲ $35,112
Land, Buildings, and Equipment, Net$5,200$4,550▼ $650
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$235,330$291,084▲ $55,754
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$137,052$104,156▼ $32,896
Other Liabilities-$75,000-
Deferred Revenue-$3,050-
Total Liabilities$137,052$182,206▲ $45,154
Net Assets / Fund Balance
Unrestricted Net Assets$70,278$108,878▲ $38,600
Temporarily Rstr Net Assets$28,000--
Total Net Assets Fund Balance$98,278$108,878▲ $10,600
Total Liabilities and Net Assets / Fund Balance$235,330$291,084▲ $55,754

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$4,550$1,950$6,500
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robb WoulfeCEO/presidentFT$148,334$8,250$156,584

Board Members and Trustees

NameTitle
Deb Kelleher SpiersChairman
Debra FoxPresident
Marsha CooperVice Chair
Amy EvansDirector
Bob LoweDirector
Elisabeth LawrenceDirector
Lindsay ElandDirector
Michelle BusheyDirector
Roger OgdenDirector
Susan PropperDirector
Ken NelsonTreasurer&SEC
Revenue and Support

Revenue Composition

Contributions and Grants
$2,405,931
Program Service Revenue
$387,623
Investment Income
$0
Other Revenue
$11,584
Change in Net Assets
$10,600

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,805,138
Revenue Not Reported on Form 990
$30,000
Total Revenue per Audited Statements
$2,835,138
Total Revenue per Form 990
$2,805,138
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,737,143
Salaries, Compensation, and Employee Benefits$1,057,395
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$553,610$122,624-$676,234
Advertising$110,396$126,770-$237,166
Current Officers, Directors, Trustees, and Key Employees$125,267$31,317-$156,584
Information Technology$6,254$149,232-$155,486
Other Employee Benefits$117,930$26,741-$144,671
Payroll Taxes$53,739$12,186-$65,925
Insurance$36,566$12,114-$48,680
Fees for Services Other-$35,197-$35,197
Fees for Services Accounting-$27,408-$27,408
Travel$87$22,290-$22,377
Office Expenses$3,404$18,941-$22,345
Pension Plan Contributions$11,397$2,584-$13,981
Occupancy-$13,007-$13,007
All Other Expenses$7$6,812-$6,819
Other Expenses$25,000$5,165-$5,165
Fees for Services Legal-$2,976-$2,976
Depreciation Depletion$650--$650
Total Functional Expenses$2,167,115$627,423$0$2,794,538

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$2,824,538
Expenses per Audited Statements$2,794,538
Total Expenses per Form 990$2,794,538
Expenses Not Reported on Form 990$30,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Other$75,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
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, Line 11B: Form 990 Review Process

Finance committee and ceo/president review the form 990 before it is filed.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The board members are required to disclose annually any conflicts of interest and recuse themselves from any matter that would be a potential conflict.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The board hires the president/ceo and determines the compensation based on an evaluation of national and regional data in the arts and culture not for profit sector, local market conditions, the individual's performance in the role, and the financial postiion of the organization. All other employee are hired by the president/ceo and are paid considering local market conditions and the financial postion of the organization.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Available upon request at www.breckcreate.org

Filing and Contact Details

Filer

Filer Name
Breckenridge Creative Arts
EIN
47-2066832
Phone
9704533187
Address
PO BOX 4269, BRECKENRIDGE, CO 80424

Signing Officer

Name
Robb Woulfe
Title
CEO/president
Signed
2019-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robb Woulfe
Formed
2015
Legal Domicile
Co
Voting Board Members
11
Independent Board Members
11
Employees
30
Volunteers
200

Preparer

Firm
Ayako D Saito CPA PLLC
Address
304 E 5th St, Leadville, CO 80461
Preparer
AD Saito
Phone
9702607483
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

Bca adopted asc 740-10-25, income taxes-overall-recognition which provides criteria for the recognition, measurement, presentation and disclosure of uncertain tax positions. Bca must recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate resolution. Bca did not recognize any additional liabilities for uncertain tax positions as a result of the implementation of asc 740-10-25.

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IRS990/MissionDesc0TO PROMOTE BRECKENRIDGE AS A VIBRANT, YEAR-ROUND CREATIVE DESTINATION BY DEVELOPING INSPIRING COLLABORATIVE EXPERIENCES THAT ATTRACT VISITORS AND ENRICH THE LIVES OF OUR CITIZENS.
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IRS990/OccupancyGrp/TotalAmt013007
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IRS990/OfficeExpensesGrp/ProgramServicesAmt03404
IRS990/OfficeExpensesGrp/TotalAmt022345
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IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0117930
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IRS990/OtherExpensesGrp/Desc1ARTISTS EXPENSE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12005
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt25165
IRS990/OtherExpensesGrp/ProgramServicesAmt0591416
IRS990/OtherExpensesGrp/ProgramServicesAmt1531392
IRS990/OtherExpensesGrp/ProgramServicesAmt225000
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IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02584
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt011397
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0FUNDS HELD FOR OTHER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0BCA ADOPTED ASC 740-10-25, INCOME TAXES-OVERALL-RECOGNITION WHICH PROVIDES CRITERIA FOR THE RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE OF UNCERTAIN TAX POSITIONS. BCA MUST RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE RESOLUTION. BCA DID NOT RECOGNIZE ANY ADDITIONAL LIABILITIES FOR UNCERTAIN TAX POSITIONS AS A RESULT OF THE IMPLEMENTATION OF ASC 740-10-25.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote

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