Civic Intelligence

Drcfa Art Foundation

990 • Fiscal year 2018 • EIN 47-2381536

Oct 01, 2017 to Sep 30, 2018 • Filed on Jun 19, 2019

Organization ProfileWWW.DRCFA.ORG
One Washington BoulevardDetroit, MI 48226

(313) 877-8215

Siviq Scores

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

Liabilities / Assets

37th percentile

0.01x

Higher debt load relative to assets than 37% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

38th percentile

0.01x

Higher debt load relative to revenue than 38% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

93rd percentile

80%

Faster asset growth than 93% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

85th percentile

46%

Faster revenue growth than 85% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets37th percentile

Assets

Up

$728,460

Up $323,256 (+80%) from 2017

Net Assets

Up

$723,487

Up $347,479 (+92%) from 2017

Liabilities

Down

$4,973

Down $24,223 (-83%) from 2017

Revenue And Expenses
Liabilities / Revenue38th percentileNet Margin96th percentile

Revenue

Up

$480,741

Up $150,336 (+46%) from 2017

Expenses

Up

$133,262

Up $65,891 (+98%) from 2017

Net Income

Up

$347,479

Up $84,445 (+32%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $112,974Liabilities 2016: $0Net Assets 2016: $112,9742016Assets 2017: $405,204Liabilities 2017: $29,196Net Assets 2017: $376,0082017Assets 2018: $728,460Liabilities 2018: $4,973Net Assets 2018: $723,4872018Assets 2019: $768,044Liabilities 2019: $0Net Assets 2019: $768,0442019Assets 2020: $903,618Liabilities 2020: $0Net Assets 2020: $903,6182020Assets 2021: $1,198,518Liabilities 2021: $26,231Net Assets 2021: $1,172,2872021Assets 2022: $1,525,631Liabilities 2022: $36,232Net Assets 2022: $1,489,3992022Assets 2023: $0Liabilities 2023: $0Net Assets 2023: $02023

Highlighted filing

2018

Assets$728,460
Liabilities$4,973
Net Assets$723,487
Open 2018 Filing

Operations Trend

Revenue Growth85th percentile

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

$600K$400K$200K$0-$200KRevenue 2016: $135,472Expenses 2016: $22,498Net Income 2016: $112,9742016Revenue 2017: $330,405Expenses 2017: $67,371Net Income 2017: $263,0342017Revenue 2018: $480,741Expenses 2018: $133,262Net Income 2018: $347,4792018Revenue 2019: $105,950Expenses 2019: $61,393Net Income 2019: $44,5572019Revenue 2020: $159,249Expenses 2020: $23,675Net Income 2020: $135,5742020Revenue 2021: $293,617Expenses 2021: $24,948Net Income 2021: $268,6692021Revenue 2022: $385,819Expenses 2022: $68,707Net Income 2022: $317,1122022Revenue 2023: $41,111Expenses 2023: $51,263Net Income 2023: -$10,1522023

Highlighted filing

2018

Revenue$480,741
Expenses$133,262
Net Income$347,479
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2017 to Sep 30, 2018
Signed
Jun 19, 2019
Return Version
2017v2.3
Gross Receipts
$480,741
Mission and Program Overview

Mission

The mission is to care for and enhance the art collection at cobo center in detroit.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$108,989$1,625▼ $107,364
Total Assets$405,204$728,460▲ $323,256
Other Assets Total$296,215$726,835▲ $430,620
Liabilities
Accounts Payable and Accrued Expenses$29,196$4,973▼ $24,223
Total Liabilities$29,196$4,973▼ $24,223
Net Assets / Fund Balance
Unrestricted Net Assets$280,064$723,487▲ $443,423
Temporarily Rstr Net Assets$95,944$0▼ $95,944
Total Net Assets Fund Balance$376,008$723,487▲ $347,479
Total Liabilities and Net Assets / Fund Balance$405,204$728,460▲ $323,256

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$726,835--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Lisa CanadaChairperson
Larry AlexanderVice Chairperson
Waymon GuillebeauxBoard Member
Patrick BeroCEO/CFO
Joseph AbdooSecretary
Michael CarrollTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$480,741
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,900
Change in Net Assets
$347,479

Audited Revenue Reconciliation

Revenue per Audited Statements
$480,741
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$480,741
Total Revenue per Form 990
$480,741
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$133,262
Total Fundraising Expense$63,542
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$15,210-$15,210
Other Expenses$6,000-$8,515$6,000
All Other Expenses$5,045-$927$5,972
Office Expenses-$1,465-$1,465
Total Functional Expenses$53,045$16,675$63,542$133,262

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$133,262
Total Expenses per Audited Statements$133,262
Total Expenses per Form 990$133,262
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The ceo/cfo of the drcfa provided the 990 questionnaire and will review and compare information to the completed form 990 with the support of the drcfa senior accountant.”

Form 990, Part VI, Section C, Line 18

“UPON REQUEST.”

Form 990, Part VI, Section C, Line 19

“Governing documents and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Drcfa Art Foundation
EIN
47-2381536
Phone
3138778215
Address
ONE WASHINGTON BOULEVARD, DETROIT, MI 48226

Signing Officer

Name
Patrick Bero
Title
CEO/CFO
Phone
3138778215
Signed
2019-06-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lisa Canada
Formed
2014
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
12

Preparer

Firm
Doeren Mayhew
Address
305 WEST BIG BEAVER ROAD, TROY, MI 48084
Preparer
Patrick D Fuelling CPA
Phone
2482443000
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“The process has not changed.”

Financial Statement Notes

PART III, LINE 4:

“The permanent art collection at cobo center includes paintings, photography and sculpture. These works are on view in public areas free of charge for all to enjoy. The collection highlights local talent and features historical and inspirational stories relating to the region. These are on display for the 1.4 million annual visitors to the convention center, which includes global and national event participants, as well as citizens of detroit and se michigan. The signage for many works of art is used as a vehicle to encourage visitors to explore se michigan to see additional work by various artists at local museums, galleries and other art destinations. Our goal is to encourage business and exploration in the region. In addition to this, our future plan is to make the art collection available for student and special interest groups to tour for educational purposes.”

PART X, LINE 2:

“The drcfa art foundation (a nonprofit organization) is organized to be a tax-exempt organization under section 501(c)(3) of the internal revenue code and, therefore, has no provision for federal income taxes. The foundation's tax filings are subject to audit by various tax authorities. The foundation's open audit periods are 2016 - 2018.”

Raw XML Appendix344 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE PERMANENT ART COLLECTION AT COBO CENTER INCLUDES PAINTINGS, PHOTOGRAPHY AND SCULPTURE. THESE WORKS ARE ON VIEW IN PUBLIC AREAS FREE OF CHARGE FOR ALL TO ENJOY. THE COLLECTION HIGHLIGHTS LOCAL TALENT AND FEATURES HISTORICAL AND INSPIRATIONAL STORIES RELATING TO THE REGION. THESE ARE ON DISPLAY FOR THE 1.4 MILLION ANNUAL VISITORS TO THE CONVENTION CENTER, WHICH INCLUDES GLOBAL AND NATIONAL EVENT PARTICIPANTS, AS WELL AS CITIZENS OF DETROIT AND SE MICHIGAN. THE SIGNAGE FOR MANY WORKS OF ART IS USED AS A VEHICLE TO ENCOURAGE VISITORS TO EXPLORE SE MICHIGAN TO SEE ADDITIONAL WORK BY VARIOUS ARTISTS AT LOCAL MUSEUMS, GALLERIES AND OTHER ART DESTINATIONS. OUR GOAL IS TO ENCOURAGE BUSINESS AND EXPLORATION IN THE REGION. IN ADDITION TO THIS, OUR FUTURE PLAN IS TO MAKE THE ART COLLECTION AVAILABLE FOR STUDENT AND SPECIAL INTEREST GROUPS TO TOUR FOR EDUCATIONAL PURPOSES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE DRCFA ART FOUNDATION (A NONPROFIT ORGANIZATION) IS ORGANIZED TO BE A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, HAS NO PROVISION FOR FEDERAL INCOME TAXES. THE FOUNDATION'S TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAX AUTHORITIES. THE FOUNDATION'S OPEN AUDIT PERIODS ARE 2016 - 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE CEO/CFO OF THE DRCFA PROVIDED THE 990 QUESTIONNAIRE AND WILL REVIEW AND COMPARE INFORMATION TO THE COMPLETED FORM 990 WITH THE SUPPORT OF THE DRCFA SENIOR ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS HAS NOT CHANGED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
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IRS990/TotalAssetsGrp/EOYAmt0728460
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0480741
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt063542
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016675
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt053045
IRS990/TotalFunctionalExpensesGrp/TotalAmt0133262
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt04973
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IRS990/TotalLiabilitiesGrp/EOYAmt04973
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/WhistleblowerPolicyInd00
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PATRICK D FUELLING CPA
ReturnHeader/ReturnTs02019-07-08T14:53:43-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-10-01
ReturnHeader/TaxPeriodEndDt02018-09-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$728,460
Liabilities
$4,973
Net assets
$723,487
Revenue
$480,741
Expenses
$133,262
Net income
$347,479
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.04$0.05$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.53$0.04$1.49$0.39$0.07$0.32
2021Detailed filing. Detailed filing data is available for this year.$1.20$0.03$1.17$0.29$0.02$0.27
2020Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.16$0.02$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.77$0.00$0.77$0.11$0.06$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.72$0.48$0.13$0.35
2017Detailed filing. Detailed filing data is available for this year.$0.41$0.03$0.38$0.33$0.07$0.26
2016Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.11$0.14$0.02$0.11