Civic Intelligence

Upstairs Artspace Inc

990 • Fiscal year 2018 • EIN 58-1379476

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

PO Box 553Tryon, NC 28782

(828) 859-2828

Siviq Scores

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

Liabilities / Assets

69th percentile

0.07x

Higher debt load relative to assets than 69% of similar nonprofits.

2018 filings • NTEE A • <$500k nonprofits • Source year 2018

Liabilities / Revenue

90th percentile

0.33x

Higher debt load relative to revenue than 90% of similar nonprofits.

2018 filings • NTEE A • <$500k nonprofits • Source year 2018

Net Margin

24th percentile

-10%

Higher net margin than 24% of similar nonprofits.

2018 filings • NTEE A • <$500k nonprofits • Source year 2018

Top Officer Pay

71st percentile

$0

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • NTEE A • <$500k nonprofits • Source year 2018

Asset Growth

37th percentile

-3.9%

Faster asset growth than 37% of similar nonprofits.

2018 filings • NTEE A • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

39th percentile

-5.5%

Faster revenue growth than 39% of similar nonprofits.

2018 filings • NTEE A • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Down

$474,997

Down $19,353 (-3.9%) from 2017

Net Assets

Down

$440,975

Down $10,520 (-2.3%) from 2017

Liabilities

Down

$34,022

Down $8,833 (-21%) from 2017

Revenue

Down

$103,702

Down $6,041 (-5.5%) from 2017

Expenses

Down

$114,215

Down $9,335 (-7.6%) from 2017

Net Income

Up

-$10,513

Up $3,294 (+24%) from 2017

Historical Trend

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2010: $647,675Liabilities 2010: $90,597Net Assets 2010: $557,0782010Assets 2011: $631,467Liabilities 2011: $88,031Net Assets 2011: $543,4362011Assets 2012: $583,017Liabilities 2012: $83,597Net Assets 2012: $499,4202012Assets 2013: $567,050Liabilities 2013: $68,866Net Assets 2013: $498,1842013Assets 2014: $543,232Liabilities 2014: $54,020Net Assets 2014: $489,2122014Assets 2015: $532,718Liabilities 2015: $48,061Net Assets 2015: $484,6572015Assets 2016: $506,900Liabilities 2016: $41,597Net Assets 2016: $465,3032016Assets 2017: $494,350Liabilities 2017: $42,855Net Assets 2017: $451,4952017Assets 2018: $474,997Liabilities 2018: $34,022Net Assets 2018: $440,9752018Assets 2019: $444,334Liabilities 2019: $27,564Net Assets 2019: $416,7702019Assets 2020: $480,611Liabilities 2020: $11,971Net Assets 2020: $468,6402020Assets 2021: $584,549Liabilities 2021: $100,000Net Assets 2021: $484,5492021Assets 2022: $550,482Liabilities 2022: $554Net Assets 2022: $549,9282022Assets 2023: $505,202Liabilities 2023: $477Net Assets 2023: $504,7252023Assets 2024: $497,628Liabilities 2024: $1,494Net Assets 2024: $496,1342024

Highlighted filing

2018

Assets$474,997
Liabilities$34,022
Net Assets$440,975

Operations Trend

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

$200K$150K$100K$50K$0-$50KExpenses 2010: $94,4412010Expenses 2011: $87,2662011Expenses 2012: $107,8962012Revenue 2013: $98,506Expenses 2013: $99,741Net Income 2013: -$1,2352013Revenue 2014: $107,291Expenses 2014: $106,192Net Income 2014: $1,0992014Revenue 2015: $102,244Expenses 2015: $106,799Net Income 2015: -$4,5552015Revenue 2016: $87,817Expenses 2016: $107,222Net Income 2016: -$19,4052016Revenue 2017: $109,743Expenses 2017: $123,550Net Income 2017: -$13,8072017Revenue 2018: $103,702Expenses 2018: $114,215Net Income 2018: -$10,5132018Revenue 2019: $64,992Expenses 2019: $89,198Net Income 2019: -$24,2062019Revenue 2020: $138,267Expenses 2020: $86,397Net Income 2020: $51,8702020Revenue 2021: $120,709Expenses 2021: $104,800Net Income 2021: $15,9092021Revenue 2022: $150,904Expenses 2022: $85,525Net Income 2022: $65,3792022Revenue 2023: $96,799Expenses 2023: $141,988Net Income 2023: -$45,1892023Revenue 2024: $120,663Expenses 2024: $129,254Net Income 2024: -$8,5912024

Highlighted filing

2018

Revenue$103,702
Expenses$114,215
Net Income-$10,513
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$103,702
Mission and Program Overview

Mission

To develop an understanding & appreciation of contemporary art & craft forms through exhibits, programs & educational activities.

Develop and conduct activities that will enhance and foster knowledge of, and appreciation for, the creative process of arts and crafts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$474,632$456,273▼ $18,359
Cash and Non-Interest-Bearing Accounts$19,432$17,891▼ $1,541
Loans From Officers Directors-$1,000-
Accounts Receivable$286$833▲ $547
Total Assets$494,350$474,997▼ $19,353
Liabilities
Mortgage Notes Payable Secured by Investment Property$39,391$30,805▼ $8,586
Accounts Payable and Accrued Expenses$3,464$2,217▼ $1,247
Total Liabilities$42,855$34,022▼ $8,833
Net Assets / Fund Balance
Unrestricted Net Assets$451,495$440,975▼ $10,520
Total Net Assets Fund Balance$451,495$440,975▼ $10,520
Total Liabilities and Net Assets / Fund Balance$494,350$474,997▼ $19,353

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$421,273$294,717$715,990
Land$35,000-$35,000
Other Land Buildings-$13,662$13,662
Compensation and Service Providers

Board Members and Trustees

NameTitle
John WaltersPresident
Jim CullenVice President
Alexia BoydDirector
Hague WilliamsDirector
Hans PicardDirector
Mark HollandDirector
Susan BradyDirector
Cathy StoneySecretary
Patti TrobaughTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$65,870
Program Service Revenue
$37,212
Investment Income
$0
Other Revenue
$620
All Other Contributions
$61,770
Change in Net Assets
$-10,513
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$87,156
Salaries, Compensation, and Employee Benefits$27,059
Total Fundraising Expense$411
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$25,136-$25,136
All Other Expenses$23,114$1,189$411$24,714
Depreciation Depletion$18,359--$18,359
Advertising$6,590--$6,590
Insurance$3,552$1,522-$5,074
Fees for Services Accounting-$4,000-$4,000
Fees for Services Other-$3,943-$3,943
Interest$2,925--$2,925
Information Technology-$2,417-$2,417
Payroll Taxes-$1,923-$1,923
Other Expenses$1,871$8,531-$1,871
Fees for Services Management-$1,800-$1,800
Office Expenses$483$725-$1,208
Conferences and Meetings-$194-$194
Total Functional Expenses$58,212$55,592$411$114,215
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
Loans from Officers, Directors, Trustees, and Key Employees-$1,000-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

Membership is open to public. Dues include periodic newsletters and announcements for new exhibit openings and invitation to the opening receptions.

Member election for additional members Part VI line 7A

Individual dues-paying members meet annually to elect a board of directors and officers. They also vote on changes in by-laws as needed.

Form 990 governing body review Part VI line 11

The form 990 is signed by the president or the treasurer and presented to the governing body at the next scheduled meeting.

Conflict of interest policy compliance Part VI line 12C

Boardmembers are required to disclose potential conflicts of interest annually. This has never been an issue.

Governing documents etc available to public Part VI line 19

The organizations governing documents, financial statements and conflict of interest policy are available for public inspection upon written request to the board.

Filing and Contact Details

Filer

Filer Name
Upstairs Artspace Inc
EIN
58-1379476
Address
PO BOX 553, TRYON, NC 28782

Signing Officer

Name
John Walters
Title
President
Phone
8288592828
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Formed
1979
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
5

Preparer

Firm
L Blake Smyth CPA Pllc
Address
84 Pacolet Street, Tryon, NC 28782
Preparer
Lewis Blake Smyth
Phone
8288592264
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Prior year adjustment (8)rounding +1

List of other expenses Part IX line 24E

See overflow statement for details of section ix line 24e.

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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt02000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt02000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt066490
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt082219
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt071224
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt061111
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0340662
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt037211
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt050123
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt094396
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0115724
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0107290
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0115724
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0294717
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IRS990ScheduleD/LandGrp/BookValueAmt035000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt035000
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt013662
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt013662
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IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0SCOTT LANE
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0FORMER OFFICER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERSHIP IS OPEN TO PUBLIC. DUES INCLUDE PERIODIC NEWSLETTERS AND ANNOUNCEMENTS FOR NEW EXHIBIT OPENINGS AND INVITATION TO THE OPENING RECEPTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1INDIVIDUAL DUES-PAYING MEMBERS MEET ANNUALLY TO ELECT A BOARD OF DIRECTORS AND OFFICERS. THEY ALSO VOTE ON CHANGES IN BY-LAWS AS NEEDED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS SIGNED BY THE PRESIDENT OR THE TREASURER AND PRESENTED TO THE GOVERNING BODY AT THE NEXT SCHEDULED MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3BOARDMEMBERS ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST ANNUALLY. THIS HAS NEVER BEEN AN ISSUE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATIONS GOVERNING DOCUMENTS, FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PRIOR YEAR ADJUSTMENT (8)ROUNDING +1
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6SEE OVERFLOW STATEMENT FOR DETAILS OF SECTION IX LINE 24E.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6List of other expenses Part IX line 24e
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IRS990/StatesWhereCopyOfReturnIsFldCd0NC
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0494350
IRS990/TotalAssetsGrp/EOYAmt0474997
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IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0411
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt055592
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt058212
IRS990/TotalFunctionalExpensesGrp/TotalAmt0114215
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt042855
IRS990/TotalLiabilitiesGrp/EOYAmt034022
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0440975
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt037212
IRS990/TotalReportableCompFromOrgAmt00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.98$0.01$4.96$1.21$1.29$0.09
2023Detailed filing. Detailed filing data is available for this year.$5.05$0.00$5.05$0.97$1.42$0.45
2022Detailed filing. Detailed filing data is available for this year.$5.50$0.01$5.50$1.51$0.86$0.65
2021Detailed filing. Detailed filing data is available for this year.$5.85$1.00$4.85$1.21$1.05$0.16
2020Detailed filing. Detailed filing data is available for this year.$4.81$0.12$4.69$1.38$0.86$0.52
2019Detailed filing. Detailed filing data is available for this year.$4.44$0.28$4.17$0.65$0.89$0.24
2018Detailed filing. Detailed filing data is available for this year.$4.75$0.34$4.41$1.04$1.14$0.11
2017Detailed filing. Detailed filing data is available for this year.$4.94$0.43$4.51$1.10$1.24$0.14
2016Detailed filing. Detailed filing data is available for this year.$5.07$0.42$4.65$0.88$1.07$0.19
2015Detailed filing. Detailed filing data is available for this year.$5.33$0.48$4.85$1.02$1.07$0.05
2014Detailed filing. Detailed filing data is available for this year.$5.43$0.54$4.89$1.07$1.06$0.01
2013Detailed filing. Detailed filing data is available for this year.$5.67$0.69$4.98$0.99$1.00$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.83$0.84$4.99$1.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.31$0.88$5.43$0.87
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.48$0.91$5.57$0.94