Civic Intelligence

Pyramid Atlantic Inc.

990 • Fiscal year 2024 • EIN 52-1233802

Jul 01, 2023 to Jun 30, 2024 • Filed on Oct 15, 2024

4318 Gallatin StHyattsville, MD 20781

(301) 608-9101

Siviq Scores

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

Liabilities / Assets

65th percentile

0.17x

Higher debt load relative to assets than 65% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

80th percentile

0.44x

Higher debt load relative to revenue than 80% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

18th percentile

-15%

Higher net margin than 18% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

71st percentile

$112,644

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 13.9% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

19th percentile

-6.4%

Faster asset growth than 19% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-19%

Faster revenue growth than 15% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$2,169,534

Down $148,188 (-6.4%) from 2023

Net Assets

Down

$1,811,287

Down $118,323 (-6.1%) from 2023

Liabilities

Down

$358,247

Down $29,865 (-7.7%) from 2023

Revenue

Down

$807,886

Down $185,996 (-19%) from 2023

Expenses

Down

$926,209

Down $43,174 (-4.5%) from 2023

Net Income

Down

-$118,323

Down $142,822 (-583%) from 2023

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,296,997Liabilities 2011: $1,126,703Net Assets 2011: $2,170,2942011Assets 2012: $3,248,407Liabilities 2012: $1,228,874Net Assets 2012: $2,019,5332012Assets 2013: $3,137,250Liabilities 2013: $1,221,245Net Assets 2013: $1,916,0052013Assets 2014: $3,458,305Liabilities 2014: $1,225,619Net Assets 2014: $2,232,6862014Assets 2015: $3,392,560Liabilities 2015: $1,230,035Net Assets 2015: $2,162,5252015Assets 2016: $3,012,364Liabilities 2016: $787,309Net Assets 2016: $2,225,0552016Assets 2017: $2,424,307Liabilities 2017: $370,335Net Assets 2017: $2,053,9722017Assets 2018: $2,427,595Liabilities 2018: $374,189Net Assets 2018: $2,053,4062018Assets 2019: $2,381,680Liabilities 2019: $364,524Net Assets 2019: $2,017,1562019Assets 2020: $2,354,418Liabilities 2020: $411,029Net Assets 2020: $1,943,3892020Assets 2021: $2,364,084Liabilities 2021: $386,940Net Assets 2021: $1,977,1442021Assets 2022: $2,261,316Liabilities 2022: $356,205Net Assets 2022: $1,905,1112022Assets 2023: $2,317,722Liabilities 2023: $388,112Net Assets 2023: $1,929,6102023Assets 2024: $2,169,534Liabilities 2024: $358,247Net Assets 2024: $1,811,2872024Assets 2025: $2,203,140Liabilities 2025: $370,647Net Assets 2025: $1,832,4932025

Highlighted filing

2024

Assets$2,169,534
Liabilities$358,247
Net Assets$1,811,287

Operations Trend

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

$1.0M$500K$0-$500KRevenue 2011: $569,610Expenses 2011: $824,220Net Income 2011: -$254,6102011Revenue 2012: $397,600Expenses 2012: $548,361Net Income 2012: -$150,7612012Revenue 2013: $513,004Expenses 2013: $616,532Net Income 2013: -$103,5282013Revenue 2014: $908,073Expenses 2014: $591,392Net Income 2014: $316,6812014Revenue 2015: $513,259Expenses 2015: $583,420Net Income 2015: -$70,1612015Revenue 2016: $690,619Expenses 2016: $628,089Net Income 2016: $62,5302016Revenue 2017: $399,509Expenses 2017: $579,283Net Income 2017: -$179,7742017Revenue 2018: $490,918Expenses 2018: $567,384Net Income 2018: -$76,4662018Revenue 2019: $544,455Expenses 2019: $596,897Net Income 2019: -$52,4422019Revenue 2020: $539,295Expenses 2020: $613,062Net Income 2020: -$73,7672020Revenue 2021: $689,128Expenses 2021: $655,374Net Income 2021: $33,7542021Revenue 2022: $699,272Expenses 2022: $771,305Net Income 2022: -$72,0332022Revenue 2023: $993,882Expenses 2023: $969,383Net Income 2023: $24,4992023Revenue 2024: $807,886Expenses 2024: $926,209Net Income 2024: -$118,3232024Revenue 2025: $999,999Expenses 2025: $978,793Net Income 2025: $21,2062025

Highlighted filing

2024

Revenue$807,886
Expenses$926,209
Net Income-$118,323
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Oct 15, 2024
Return Version
2023v6.0
Gross Receipts
$807,886
Mission and Program Overview

Mission

Pyramids mission is to create a collaborative community that fosters the artistic disciplines of papermaking, printmaking, and book arts. We equip, educate, and exhibit artists and offer accessible programs to the general public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,376,220$1,310,149▼ $66,071
Inventories for Sale or Use$355,845$391,075▲ $35,230
Savings and Temporary Cash Investments$338,769$301,456▼ $37,313
Cash and Non-Interest-Bearing Accounts$194,623$118,952▼ $75,671
Accounts Receivable$38,618$33,049▼ $5,569
Prepaid Expenses and Deferred Charges$3,503$9,557▲ $6,054
Other Notes and Loans Receivable, Net$10,144$5,296▼ $4,848
Total Assets$2,317,722$2,169,534▼ $148,188
Liabilities
Mortgage Notes Payable Secured by Investment Property$294,815$286,133▼ $8,682
Accounts Payable and Accrued Expenses$62,498$44,655▼ $17,843
Other Liabilities$17,355$18,282▲ $927
Deferred Revenue$13,444$9,177▼ $4,267
Total Liabilities$388,112$358,247▼ $29,865
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,875,797$1,811,287▼ $64,510
Net Assets With Donor Restrictions$53,813$0▼ $53,813
Total Net Assets Fund Balance$1,929,610$1,811,287▼ $118,323
Total Liabilities and Net Assets / Fund Balance$2,317,722$2,169,534▼ $148,188

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,310,149$603,769$1,913,918
Equipment$0$159,613$159,613

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$71,119$19--$71,138
2022$56,360$14,759--$71,119
2021$18,725$37,635--$56,360
2020$0$18,725--$18,725
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kate Taylor DavisExecutive DirectorFT$112,644$112,644

Board Members and Trustees

NameTitle
Steven StichterPresident
Ben HortonVice President
Edgar ReyesBoard Member
Emily JacksonBoard Member
Kyle YancyBoard Member
Linda RollinsBoard Member
Marcia BruceBoard Member
Mark BurkeBoard Member
Matt RichardsonBoard Member
Megan HaidetBoard Member
Peter S SiegelBoard Member
Sharon RobinsonBoard Member
Tiffany P TownsendBoard Member
Brian HurttSecretary
Dominique PetersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$285,388
Program Service Revenue
$377,984
Investment Income
$11,883
Other Revenue
$132,631
All Other Contributions
$155,309
Change in Net Assets
$-118,323

Audited Revenue Reconciliation

Revenue per Audited Statements
$807,886
Revenue Not Reported on Form 990
$216,015
Total Revenue per Audited Statements
$1,023,901
Total Revenue per Form 990
$807,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$547,096
Salaries, Compensation, and Employee Benefits$379,113
Total Fundraising Expense$94,555
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$161,496$19,474$44,540$225,510
Fees for Services Other$164,076$6,360$3,235$173,671
Current Officers, Directors, Trustees, and Key Employees$80,653$9,687$22,304$112,644
Occupancy$67,429$16,313$0$83,742
Depreciation Depletion$65,073$11,484$0$76,557
Office Expenses$37,931$13,947$2,152$54,030
Fees for Services Accounting$42,720$5,280$0$48,000
Other Expenses$41,625$1,873$3,317$46,815
Payroll Taxes$21,057$2,536$5,813$29,406
Information Technology$16,508$2,770$5,901$25,179
Interest$14,398$2,031$0$16,429
Insurance$10,848$1,915$0$12,763
Pension Plan Contributions$6,201$747$1,711$8,659
Other Employee Benefits$2,072$250$572$2,894
Total Functional Expenses$736,987$94,667$94,555$926,209

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,142,224
Expenses per Audited Statements$926,209
Total Expenses per Form 990$926,209
Expenses Not Reported on Form 990$216,015
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
Refundable Deposits and Gift Cards$18,282
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 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
Filing and Contact Details

Filer

Filer Name
Pyramid Atlantic Inc
EIN
52-1233802
Phone
3016089101
Address
4318 GALLATIN ST, HYATTSVILLE, MD 20781
Doing Business As
Pyramid Atlantic Art Center

Signing Officer

Name
Kate Taylor Davis
Title
Executive Director
Phone
3016089101
Signed
2024-10-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kate Taylor Davis
Formed
1981
Legal Domicile
Md
Voting Board Members
15
Independent Board Members
15
Employees
10
Volunteers
42

Preparer

Firm
Nanette K Miller CPA Pc
Address
2450 VIRGINIA AVE NW E309, WASHINGTON, DC 20037
Preparer
Nan Miller CPA
Phone
2024637600
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

The 990 is provided to the board of directors for review before filing. The form is also reviewed by the organizations outside accounting consultant.

Pt VI, Line 12C

The board of directors frequently considers its written conflict of interest policy and confirms that there is no conflict with any members of the board or staff.

Pt VI, Line 15A

The salary for the executive director is determined by the board of directors. Each year the finance committee oversees the budget and includes increases in compensation when applicable. The executive directors performance is routinely reviewed and discussed by the board of directors.

Other

PART III LINE 4(a): IN FY24, PAAC WELCOMED NEARLY 16,000 PEOPLE TO ITS PROGRAMS RE-LAUNCHING A PUBLISHING RESIDENCY WITH EXCITING VISITING ARTISTS THAT PRODUCED TWO NEW EDITIONED PRINTS. CLASSES RAN WITH THE HIGHEST CAPACITY ON RECORD, AND PAAC FINISHED ITS THREE-YEAR STRATEGIC PLAN.

Form 990, Part IX, Line 11G

Commissions - art and shop sales 55761. 55761. 0. 0.

Form 990, Part IX, Line 11G

Programmatic consultants 108315. 108315. 0. 0.

Form 990, Part IX, Line 11G

Support - consultants 9595. 0. 6360. 3235.

Financial Statement Notes

Pt III, Line 4

Art collections and other inventory related to exempt purpose includes artwork generally made at the organizations studios and donated to the organization for possible sale. All artworks maintained in inventory further the mission of pyramid atlantic by showcasing artists with a focus primarily on the disciplines of printmaking, papermaking, and bookmaking. Having artwork on hand to display and educate provides the ability to make printmaking, papermaking, and bookmaking accessible to more than just artists and academics.

Pt X, Line 2

Paac is exempt from federal and local income taxes under section 501(c)(3) of the internal revenue code on any net income derived from activities related to its exempt purpose. This code section enables paac to accept donations that qualify as charitable contributions to the donor. Paac is subject to tax on net income from unrelated business activities. For the years ended june 30, 2024 and 2023, paac did not recognize income tax expense in the accompanying financial statements as there was no unrelated business taxable income. The organization is not aware of any activities that would jeopardize its tax exempt status that would require recognition in the accompanying financial statements, pursuant to accounting standards codification (asc) for income taxes. Generally, tax returns are subject to examination by taxing authorities for up to three years from the date a completed return is filed. The open tax years are june 30, 2021 - 2024. If there are material omissions of income, tax returns may be subject to examination for up to six years. It is paacs policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of june 30, 2024 and 2023, the organization had no accruals for interest and/or penalties as there were no uncertain tax positions.

Pt V, Line 4

Board designated quasi endowment established by the board of directors to perpetuate the sustainability of the organization

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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
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IRS990/PrincipalOfficerNm0KATE TAYLOR DAVIS
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IRS990/ProgramServiceRevenueGrp/Desc3TICKET SALES AND EXHIBITION FEES
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0Other Income Part II, Line 10 Description: MISCELLANEOUS 2019: 25. 2020: 16316. 2021: 9295. 2022: 5908. 2023: 11734.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0Pt II Ln 10
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.20$0.37$1.83$1.00$0.98$0.02
2024Detailed filing. Detailed filing data is available for this year.$2.17$0.36$1.81$0.81$0.93$0.12
2023Detailed filing. Detailed filing data is available for this year.$2.32$0.39$1.93$0.99$0.97$0.02
2022Detailed filing. Detailed filing data is available for this year.$2.26$0.36$1.91$0.70$0.77$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.36$0.39$1.98$0.69$0.66$0.03
2020Detailed filing. Detailed filing data is available for this year.$2.35$0.41$1.94$0.54$0.61$0.07
2019Detailed filing. Detailed filing data is available for this year.$2.38$0.36$2.02$0.54$0.60$0.05
2018Detailed filing. Detailed filing data is available for this year.$2.43$0.37$2.05$0.49$0.57$0.08
2017Detailed filing. Detailed filing data is available for this year.$2.42$0.37$2.05$0.40$0.58$0.18
2016Summary only. Only limited summary data is available for this year.$3.01$0.79$2.23$0.69$0.63$0.06
2015Detailed filing. Detailed filing data is available for this year.$3.39$1.23$2.16$0.51$0.58$0.07
2014Summary only. Only limited summary data is available for this year.$3.46$1.23$2.23$0.91$0.59$0.32
2013Summary only. Only limited summary data is available for this year.$3.14$1.22$1.92$0.51$0.62$0.10
2012Summary only. Only limited summary data is available for this year.$3.25$1.23$2.02$0.40$0.55$0.15
2011Summary only. Only limited summary data is available for this year.$3.30$1.13$2.17$0.57$0.82$0.25