Civic Intelligence

Freeport Arts Center

990 • Fiscal year 2019 • EIN 51-0189249

Sep 01, 2018 to Aug 31, 2019 • Filed on Jan 28, 2020

Organization ProfileWWW.FREEPORTARTMUSEUM.COM
121 N HarlemFreeport, IL 61032

(815) 235-9755

Siviq Scores

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

Liabilities / Assets

30th percentile

0.01x

Higher debt load relative to assets than 30% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

51st percentile

0.09x

Higher debt load relative to revenue than 51% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

71st percentile

14%

Higher net margin than 71% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

47th percentile

$54,275

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 19.7% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

49th percentile

2.8%

Faster asset growth than 49% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

3rd percentile

-61%

Faster revenue growth than 3% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$1,873,182

Up $50,544 (+2.8%) from 2018

Net Assets

Up

$1,848,374

Up $51,135 (+2.8%) from 2018

Liabilities

Down

$24,808

Down $591 (-2.3%) from 2018

Revenue And Expenses
Liabilities / Revenue51st percentileNet Margin71st percentile

Revenue

Down

$274,972

Down $430,268 (-61%) from 2018

Expenses

Up

$235,312

Up $23,907 (+11%) from 2018

Net Income

Down

$39,660

Down $454,175 (-92%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $1,226,491Liabilities 2011: $7,269Net Assets 2011: $1,219,2222011Assets 2012: $1,261,727Liabilities 2012: $59,023Net Assets 2012: $1,202,7042012Assets 2013: $1,268,298Liabilities 2013: $57,848Net Assets 2013: $1,210,4502013Assets 2014: $1,347,274Liabilities 2014: $45,869Net Assets 2014: $1,301,4052014Assets 2015: $1,264,244Liabilities 2015: $57,310Net Assets 2015: $1,206,9342015Assets 2016: $1,248,968Liabilities 2016: $45,483Net Assets 2016: $1,203,4852016Assets 2017: $1,300,619Liabilities 2017: $39,998Net Assets 2017: $1,260,6212017Assets 2018: $1,822,638Liabilities 2018: $25,399Net Assets 2018: $1,797,2392018Assets 2019: $1,873,182Liabilities 2019: $24,808Net Assets 2019: $1,848,3742019Assets 2020: $1,549,553Liabilities 2020: $48,295Net Assets 2020: $1,501,2582020Assets 2021: $1,770,629Liabilities 2021: $22,622Net Assets 2021: $1,748,0072021Assets 2022: $2,364,879Liabilities 2022: $153,952Net Assets 2022: $2,210,9272022Assets 2023: $2,523,739Liabilities 2023: $67,739Net Assets 2023: $2,456,0002023Assets 2024: $3,309,255Liabilities 2024: $0Net Assets 2024: $3,309,2552024Assets 2025: $4,072,750Liabilities 2025: $0Net Assets 2025: $4,072,7502025

Highlighted filing

2019

Assets$1,873,182
Liabilities$24,808
Net Assets$1,848,374
Open 2019 Filing

Operations Trend

Revenue Growth3rd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $225,8872011Expenses 2012: $219,6062012Expenses 2013: $209,5062013Revenue 2014: $228,481Expenses 2014: $212,810Net Income 2014: $15,6712014Revenue 2015: $171,453Expenses 2015: $210,016Net Income 2015: -$38,5632015Revenue 2016: $167,841Expenses 2016: $204,624Net Income 2016: -$36,7832016Revenue 2017: $233,575Expenses 2017: $213,849Net Income 2017: $19,7262017Revenue 2018: $705,240Expenses 2018: $211,405Net Income 2018: $493,8352018Revenue 2019: $274,972Expenses 2019: $235,312Net Income 2019: $39,6602019Revenue 2020: $281,275Expenses 2020: $637,829Net Income 2020: -$356,5542020Revenue 2021: $343,033Expenses 2021: $220,130Net Income 2021: $122,9032021Revenue 2022: $373,733Expenses 2022: $359,625Net Income 2022: $14,1082022Revenue 2023: $619,090Expenses 2023: $366,182Net Income 2023: $252,9082023Revenue 2024: $1,082,372Expenses 2024: $353,316Net Income 2024: $729,0562024Revenue 2025: $1,065,770Expenses 2025: $360,907Net Income 2025: $704,8632025

Highlighted filing

2019

Revenue$274,972
Expenses$235,312
Net Income$39,660
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2018 to Aug 31, 2019
Signed
Jan 28, 2020
Return Version
2018v3.1
Gross Receipts
$293,278
Mission and Program Overview

Mission

The freeport art museum creates experiences that spark imagination and engagement in the arts for all people by presenting exhibitions and cultural events, advancing arts education, and excelling in collection stewardship.

To enhance and promote the historical and cultural education of the community

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$894,327$863,990▼ $30,337
Cash and Non-Interest-Bearing Accounts$503,723$564,917▲ $61,194
Land, Buildings, and Equipment, Net$424,588$444,275▲ $19,687
Total Assets$1,822,638$1,873,182▲ $50,544
Liabilities
Unsecured Notes Loans Payable$20,000$20,000→ $0
Accounts Payable and Accrued Expenses$5,399$4,808▼ $591
Total Liabilities$25,399$24,808▼ $591
Net Assets / Fund Balance
Unrestricted Net Assets$1,475,671$1,848,374▲ $372,703
Permanently Rstr Net Assets$321,568$0▼ $321,568
Total Net Assets Fund Balance$1,797,239$1,848,374▲ $51,135
Total Liabilities and Net Assets / Fund Balance$1,822,638$1,873,182▲ $50,544

Asset Categories

AssetBook ValueDepreciationBasis
Land$399,000--
Equipment$1,297$97,384-
Leasehold Improvements$43,978$274,028-

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$882,244-▲ $15,218$33,932$863,530
2017$848,492-▲ $67,684$33,932$882,244
2016$817,251-▲ $40,251$9,010$848,492
2015$829,166-▲ $24,565$36,480$817,251
2014$906,497$1▼ $26,365$-50,967$829,166
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jessica ModicaFormer Executive DirectorFT$54,275$54,275

Board Members and Trustees

NameTitle
Adam SchulzPresident
Marsha BlockVice President
Aaron MercierDirector
Ellen BartelsDirector
Gwen CrowDirector
Jill LaballisterDirector
Neal TrainorDirector
Jason JuddExecutive Director
Kelsey RosensteinSecretary
Mariah LeiserTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$210,413
Program Service Revenue
$51,780
Investment Income
$0
Other Revenue
$12,779
All Other Contributions
$164,609
Change in Net Assets
$39,660
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$117,695
Salaries, Compensation, and Employee Benefits$117,617
Total Fundraising Expense$33,888
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$10,855$43,420-$54,275
Comp Disqual Persons$34,310$13,302-$47,612
Fees for Services Management-$1,819$33,342$35,161
Occupancy$26,740--$26,740
Payroll Taxes$10,930--$10,930
Interest$7,340--$7,340
Other Employee Benefits-$4,800-$4,800
Fees for Service Investment Mgmnt Fees-$3,460-$3,460
Fees for Services Accounting-$3,195-$3,195
Depreciation Depletion$2,603--$2,603
Advertising$1,693$844-$2,537
Office Expenses-$1,655$546$2,201
Insurance-$1,819-$1,819
Other Expenses$186$274-$460
All Other Expenses-$445-$445
Conferences and Meetings$147--$147
Total Functional Expenses$122,856$78,568$33,888$235,312
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$26,303
Fundraising Direct Expenses$17,951
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Wine, Cheese & Chocolate$8,864$8,864$11,577$-2,713
Annual Dinner$8,598$8,598$4,091$4,507
Total Events$26,303$26,303$17,951$8,352
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
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The organization has a total of 12 voting members of the governing body.”

Form 990, Part VI, Section A, Line 7A

“Positions are elected each year by board members”

Form 990, Part VI, Section A, Line 7B

“Financial statements are reviewed and approved by the board each year.”

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

“The form 990 is reviewed by the president and treasurer of the board of directors.”

Form 990, Part VI, Section C, Line 18

“The form 990 is available to the public as a result of a written request.”

Form 990, Part VI, Section C, Line 19

“A member of the public may request a copy of a specific policy or financials of the art center. A request for a copy of the policy will be reviewed by the executive committee and responded to according to their direction.”

Filing and Contact Details

Filer

Filer Name
Freeport Arts Center
EIN
51-0189249
Phone
8152359755
Address
121 N HARLEM, FREEPORT, IL 61032

Signing Officer

Name
Jessica Modica
Title
President
Phone
8152359755
Signed
2020-01-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Adam Schulz
Formed
1975
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
0
Employees
5
Volunteers
0

Preparer

Firm
Wipfli Llp
Address
4949 HARRISON AVENUE SUITE 300, ROCKFORD, IL 61125-0407
Preparer
Jerry R Funk
Phone
8153997700
Supplemental Narrative

Financial Statement Notes

PART III, LINE 1A:

“Collection items acquired either through purchase or donation are not capitalized. Purchases of collection items are recorded as decreases in unrestricted net assets if purchased with unrestricted assets and as decreases in temporarily restricted or permanently restricted net assets if purchased with donor-restricted assets. Proceeds from de-accessions or insurance recoveries are reflected on the statement of activities based on the absence or existence and nature of donor-imposed restrictions.”

PART X, LINE 2:

“The organization accounts for income taxes in accordance with financial accounting standards board accounting for uncertainty in income taxes. The standard provides detailed guidance for the financial statement recognition, measurement and disclosure of uncertain tax positions recognized in an enterprise's financial statements and requires an entity to recognize the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. The organization has determined there are no amounts to record as assets or liabilities related to uncertain tax positions. The organization believes it is no longer subject to income tax examinations for years prior to 2014.”

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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/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt04800
IRS990/OtherEmployeeBenefitsGrp/TotalAmt04800
IRS990/OtherExpensesGrp/Desc0EDUCATION AND OUTREACH
IRS990/OtherExpensesGrp/Desc1EXHIBITIONS
IRS990/OtherExpensesGrp/Desc2BANK FEES
IRS990/OtherExpensesGrp/Desc3MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03535
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1274
IRS990/OtherExpensesGrp/ProgramServicesAmt017759
IRS990/OtherExpensesGrp/ProgramServicesAmt110293
IRS990/OtherExpensesGrp/ProgramServicesAmt2186
IRS990/OtherExpensesGrp/TotalAmt017759
IRS990/OtherExpensesGrp/TotalAmt110293
IRS990/OtherExpensesGrp/TotalAmt23535
IRS990/OtherExpensesGrp/TotalAmt3460
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/ProgramServicesAmt010930
IRS990/PayrollTaxesGrp/TotalAmt010930
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0321568
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ADAM SCHULZ
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1711300
IRS990/ProgramServiceRevenueGrp/Desc0ART EDUCATION CLASSES
IRS990/ProgramServiceRevenueGrp/Desc1EXHIBITIONS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt042918
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18862
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt042918
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18862
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0627309
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt06052
IRS990/PYInvestmentIncomeAmt033036
IRS990/PYOtherExpensesAmt081678
IRS990/PYOtherRevenueAmt01655
IRS990/PYProgramServiceRevenueAmt043240
IRS990/PYRevenuesLessExpensesAmt0493835
IRS990/PYSalariesCompEmpBnftPaidAmt0123675
IRS990/PYTotalExpensesAmt0211405
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0705240
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt039660
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/RealAmt03958
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt052249
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0894327
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0863990
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0208705
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0625602
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0105791
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt065103
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt072817
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01078018
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt03958
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt06813
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt08133
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0-11291
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt044389
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt052002
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0227619
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95400
IRS990ScheduleA/PublicSupportPY170Pct00.90210
IRS990ScheduleA/PublicSupportTotal170Amt01078018
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0208705
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0625602
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0105791
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt065103
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt072817
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01078018
IRS990ScheduleA/TotalSupportAmt01130020
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0882244
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0863530
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt015218
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt033932
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0848492
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0882244
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt067684
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt033932
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0817251
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0848492
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt040251
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt09010
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0829166
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0817251
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt024565
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt036480
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0906497
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt01
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0829166
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-26365
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt0-50967
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt01297
IRS990ScheduleD/EquipmentGrp/DepreciationAmt097384
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt098681
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0399000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0399000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt043978
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0274028
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0318006
IRS990ScheduleD/SolicitedAssetsSaleInd00
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0COLLECTION ITEMS ACQUIRED EITHER THROUGH PURCHASE OR DONATION ARE NOT CAPITALIZED. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED NET ASSETS IF PURCHASED WITH UNRESTRICTED ASSETS AND AS DECREASES IN TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED NET ASSETS IF PURCHASED WITH DONOR-RESTRICTED ASSETS. PROCEEDS FROM DE-ACCESSIONS OR INSURANCE RECOVERIES ARE REFLECTED ON THE STATEMENT OF ACTIVITIES BASED ON THE ABSENCE OR EXISTENCE AND NATURE OF DONOR-IMPOSED RESTRICTIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH FINANCIAL ACCOUNTING STANDARDS BOARD ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE STANDARD PROVIDES DETAILED GUIDANCE FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS AND REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. THE ORGANIZATION HAS DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. THE ORGANIZATION BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2014.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART III, LINE 1A:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0444275
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt017951
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL DINNER
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0WINE, CHEESE & CHOCOLATE
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt08598
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt08864
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt08841
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt026303
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt08598
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt08864
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt08841
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt026303
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt08352
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt02283
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt017951
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt04091
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt011577
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt02
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A TOTAL OF 12 VOTING MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1POSITIONS ARE ELECTED EACH YEAR BY BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIAL STATEMENTS ARE REVIEWED AND APPROVED BY THE BOARD EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE PRESIDENT AND TREASURER OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS AVAILABLE TO THE PUBLIC AS A RESULT OF A WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5A MEMBER OF THE PUBLIC MAY REQUEST A COPY OF A SPECIFIC POLICY OR FINANCIALS OF THE ART CENTER. A REQUEST FOR A COPY OF THE POLICY WILL BE REVIEWED BY THE EXECUTIVE COMMITTEE AND RESPONDED TO ACCORDING TO THEIR DIRECTION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0IL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,873,182
Liabilities
$24,808
Net assets
$1,848,374
Revenue
$274,972
Expenses
$235,312
Net income
$39,660
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.07$0.00$4.07$1.07$0.36$0.70
2024Detailed filing. Detailed filing data is available for this year.$3.31$0.00$3.31$1.08$0.35$0.73
2023Detailed filing. Detailed filing data is available for this year.$2.52$0.07$2.46$0.62$0.37$0.25
2022Detailed filing. Detailed filing data is available for this year.$2.36$0.15$2.21$0.37$0.36$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$0.02$1.75$0.34$0.22$0.12
2020Detailed filing. Detailed filing data is available for this year.$1.55$0.05$1.50$0.28$0.64$0.36
2019Detailed filing. Detailed filing data is available for this year.$1.87$0.02$1.85$0.27$0.24$0.04
2018Detailed filing. Detailed filing data is available for this year.$1.82$0.03$1.80$0.71$0.21$0.49
2017Detailed filing. Detailed filing data is available for this year.$1.30$0.04$1.26$0.23$0.21$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.25$0.05$1.20$0.17$0.20$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.26$0.06$1.21$0.17$0.21$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.35$0.05$1.30$0.23$0.21$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.06$1.21$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$0.06$1.20$0.22
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.01$1.22$0.23