Civic Intelligence

Liberty Arts Inc.

990EZ • Fiscal year 2017 • EIN 56-2234909

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 05, 2018

918 Pearl StreetDurham, NC 27701

(919) 779-2620

Siviq Scores

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

Liabilities / Assets

81st percentile

0.30x

Higher debt load relative to assets than 81% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Liabilities / Revenue

81st percentile

0.11x

Higher debt load relative to revenue than 81% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Net Margin

46th percentile

1.5%

Higher net margin than 46% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Top Officer Pay

79th percentile

$9,955

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 7.9% of source-year revenue.

2017 filings • NTEE A • <$500k nonprofits • Source year 2017

Asset Growth

51st percentile

2.6%

Faster asset growth than 51% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

79th percentile

36%

Faster revenue growth than 79% of similar nonprofits.

2017 filings • NTEE A • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$48,350

Up $1,234 (+2.6%) from 2016

Net Assets

Up

$33,947

Up $1,831 (+5.7%) from 2016

Liabilities

Down

$14,403

Down $597 (-4.0%) from 2016

Revenue

Up

$125,800

Up $33,260 (+36%) from 2016

Expenses

Up

$123,971

Up $27,890 (+29%) from 2016

Net Income

Up

$1,829

Up $5,370 (+152%) from 2016

Historical Trend

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2013: $44,262Liabilities 2013: $02013Assets 2014: $33,153Liabilities 2014: $0Net Assets 2014: $33,1532014Assets 2015: $35,737Liabilities 2015: $80Net Assets 2015: $35,6572015Assets 2016: $47,116Liabilities 2016: $15,000Net Assets 2016: $32,1162016Assets 2017: $48,350Liabilities 2017: $14,403Net Assets 2017: $33,9472017Assets 2018: $45,658Liabilities 2018: $12,924Net Assets 2018: $32,7342018Assets 2019: $59,935Liabilities 2019: $7,052Net Assets 2019: $52,8832019Assets 2020: $68,462Liabilities 2020: $12,791Net Assets 2020: $55,6712020Assets 2021: $94,652Liabilities 2021: $2,036Net Assets 2021: $92,6162021Assets 2022: $135,615Liabilities 2022: $2,029Net Assets 2022: $133,5862022Assets 2023: $102,296Liabilities 2023: $3,347Net Assets 2023: $98,9492023Assets 2024: $108,976Liabilities 2024: $358Net Assets 2024: $108,6182024Assets 2025: $117,618Liabilities 2025: $1,045Net Assets 2025: $116,5732025

Highlighted filing

2017

Assets$48,350
Liabilities$14,403
Net Assets$33,947

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2013: $86,606Expenses 2013: $42,344Net Income 2013: $44,2622013Revenue 2014: $40,742Expenses 2014: $55,806Net Income 2014: -$15,0642014Revenue 2015: $68,131Expenses 2015: $65,627Net Income 2015: $2,5042015Revenue 2016: $92,540Expenses 2016: $96,081Net Income 2016: -$3,5412016Revenue 2017: $125,800Expenses 2017: $123,971Net Income 2017: $1,8292017Revenue 2018: $161,243Expenses 2018: $162,456Net Income 2018: -$1,2132018Revenue 2019: $206,477Expenses 2019: $186,328Net Income 2019: $20,1492019Revenue 2020: $147,186Expenses 2020: $144,398Net Income 2020: $2,7882020Revenue 2021: $224,638Expenses 2021: $187,693Net Income 2021: $36,9452021Revenue 2022: $270,931Expenses 2022: $229,961Net Income 2022: $40,9702022Revenue 2023: $254,685Expenses 2023: $289,322Net Income 2023: -$34,6372023Revenue 2024: $281,926Expenses 2024: $272,767Net Income 2024: $9,1592024Revenue 2025: $430,274Expenses 2025: $422,319Net Income 2025: $7,9552025

Highlighted filing

2017

Revenue$125,800
Expenses$123,971
Net Income$1,829
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 5, 2018
Return Version
2017v2.3
Gross Receipts
$127,072
Mission and Program Overview

Mission

Liberty arts is a sculpture studio and foundry whose purpose is to enrich our communities with arts experiences that inspire, empower, educate and entertain. We: - facilitate the creation of quality, saleable works of art - attract innovative and accomplished sculptures - educate aspiring artists and incubate their careers - inspire enthusiasm in our community for the scuplture arts, and - provide easy access to skills associated with the industrial arts we fulfill our mission in a way that provides an adventure to participants and visitors alike.

Program Services

DescriptionGrantsExpenses
OUR PROGRAMS INCLUDE PUBLIC ART EXHIBITS, PUBLIC METAL POURS, CLASSES FOR THE PUBLIC (WELDING, PLASMA CUTTING AND CERAMICS), CONTACT WITH LOCAL SCHOOLS AND A PLACE TO WORK FOR LOCAL ARTISTS THAT ARE INCLUDED IN THE LIBERTY ARTS COMMUNITY. CLASSES SERVE UP TO 12 PEOPLE PER MONTH. PUBLIC ART EXHIBITS AND METAL POURS MORE THAN 30 PEOPLE PER MONTH.-$123,971
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
MICHELLE GONZALES-GREENExecutive DiPT$9,955-$9,955
NICHOLAS VERNAExecutive DiPT$2,920-$2,920
DIANE AMATOPresidentPT$0--
CAROL MCLAURINVice PresidePT$0--
DAVID HUBERTreasurerPT$0--
AMANDA SOSEBEETreasurerPT$0--
DIANE FENINGSecretaryPT$0--
LEIGH HAYESBoard MemberPT$0--
AARON EARLEYBoard MemberPT$0--
RICK AYCOCKBoard MemberPT$0--
PETER M KATZBoard MemberPT$0--
MICHAEL WALLERBoard MemberPT$0--
ILENE HADLERBoard MemberPT$0--
BRITTANY MCINNISBoard MemberPT$0--
Filing and Contact Details

Filer

Filer Name
Liberty Arts Inc
EIN
56-2234909
Phone
9197792620
Address
918 PEARL STREET, DURHAM, NC 27701

Signing Officer

Name
Diane Amato
Title
President
Phone
8023473278
Signed
2018-11-05
Discuss with paid preparer
Yes

Preparer

Firm
Chris Arena CPA Pllc
Address
3333 DURHAM CHAPEL HILL BLVD STE D2, DURHAM, NC 27707-6238
Preparer
Chris Arena
Phone
9198082590
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 8

Sales tax refund 470 total 470

Form 990-ez, Part I, Line 16

Art sales bank charges 13 classes advertising and promotion 319 supplies 4,155 iron pour expense 946 event expenses 1,147 30 expenses 110 insurance 1,624 expensed equipment 864 merchant service fees 1,871 supplies 1,463 dues & subscriptions 2,384 member expense 65 miscellaneous 125 donations 235 non-investment depreciation 542 total 15,893

Form 990-ez, Part II, Line 24

30,787 30,787 less accumulated depreciation 2,124 4,512 total 28,663 26,275

Form 990-ez, Part II, Line 26

Sales tax payable 0 289 loans from officers 15,000 14,114

Form 990-ez, Part III

Liberty arts is a sculpture studio and foundry whose purpose is to enrich our communities with arts experiences that inspire, empower, educate and entertain. We: - facilitate the creation of quality, saleable works of art - attract innovative and accomplished sculptures - educate aspiring artists and incubate their careers - inspire enthusiasm in our community for the scuplture arts, and - provide easy access to skills associated with the industrial arts we fulfill our mission in a way that provides an adventure to participants and visitors alike.

Form 990-ez, Part III, Line 28

Our programs include public art exhibits, public metal pours, classes for the public (welding, plasma cutting and ceramics), contact with local schools and a place to work for local artists that are included in the liberty arts community. Classes serve up to 12 people per month. Public art exhibits and metal pours more than 30 people per month.

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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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SALES TAX REFUND 470 TOTAL 470
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ART SALES BANK CHARGES 13 CLASSES ADVERTISING AND PROMOTION 319 SUPPLIES 4,155 IRON POUR EXPENSE 946 EVENT EXPENSES 1,147 30 EXPENSES 110 INSURANCE 1,624 EXPENSED EQUIPMENT 864 MERCHANT SERVICE FEES 1,871 SUPPLIES 1,463 DUES & SUBSCRIPTIONS 2,384 MEMBER EXPENSE 65 MISCELLANEOUS 125 DONATIONS 235 NON-INVESTMENT DEPRECIATION 542 TOTAL 15,893
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt230,787 30,787 LESS ACCUMULATED DEPRECIATION 2,124 4,512 TOTAL 28,663 26,275
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALES TAX PAYABLE 0 289 LOANS FROM OFFICERS 15,000 14,114
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4LIBERTY ARTS IS A SCULPTURE STUDIO AND FOUNDRY WHOSE PURPOSE IS TO ENRICH OUR COMMUNITIES WITH ARTS EXPERIENCES THAT INSPIRE, EMPOWER, EDUCATE AND ENTERTAIN. WE: - FACILITATE THE CREATION OF QUALITY, SALEABLE WORKS OF ART - ATTRACT INNOVATIVE AND ACCOMPLISHED SCULPTURES - EDUCATE ASPIRING ARTISTS AND INCUBATE THEIR CAREERS - INSPIRE ENTHUSIASM IN OUR COMMUNITY FOR THE SCUPLTURE ARTS, AND - PROVIDE EASY ACCESS TO SKILLS ASSOCIATED WITH THE INDUSTRIAL ARTS WE FULFILL OUR MISSION IN A WAY THAT PROVIDES AN ADVENTURE TO PARTICIPANTS AND VISITORS ALIKE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OUR PROGRAMS INCLUDE PUBLIC ART EXHIBITS, PUBLIC METAL POURS, CLASSES FOR THE PUBLIC (WELDING, PLASMA CUTTING AND CERAMICS), CONTACT WITH LOCAL SCHOOLS AND A PLACE TO WORK FOR LOCAL ARTISTS THAT ARE INCLUDED IN THE LIBERTY ARTS COMMUNITY. CLASSES SERVE UP TO 12 PEOPLE PER MONTH. PUBLIC ART EXHIBITS AND METAL POURS MORE THAN 30 PEOPLE PER MONTH.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 8
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART I, LINE 16
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 24
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART II, LINE 26
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990-EZ, PART III
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990-EZ, PART III, LINE 28
TransferPrsnlBnftContractsDecl/DeclarationDesc0THE ORGANIZATION DID NOT, DURING THE YEAR, RECEIVE ANY FUNDS, DIRECTLY OR INDIRECTLY, TO PAY PREMIUMS ON A PERSONAL BENEFIT CONTRACT. THE ORGANIZATION DID NOT, DURING THE YEAR, PAY ANY PREMIUMS, DIRECTLY OR INDIRECTLY, ON A PERSONAL BENEFIT CONTRACT.
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ReturnHeader/TaxPeriodEndDt02017-12-31
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