Civic Intelligence

Bluseed Studios Inc.

990 • Fiscal year 2020 • EIN 80-0030909

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileWWW.BLUSEEDSTUDIOS.ORG
24 Cedar StreetSaranac Lake, NY 12983

(518) 891-3799

Siviq Scores

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

Liabilities / Assets

87th percentile

0.67x

Higher debt load relative to assets than 87% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

2.17x

Higher debt load relative to revenue than 96% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Net Margin

54th percentile

7.6%

Higher net margin than 54% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Top Officer Pay

73rd percentile

$0

Higher top officer pay than 73% of similar nonprofits.

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

2020 filings • NTEE A • <$500k nonprofits • Source year 2020

Asset Growth

28th percentile

-9.2%

Faster asset growth than 28% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

25th percentile

-56%

Faster revenue growth than 25% of similar nonprofits.

2020 filings • NTEE A • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$305,457

Down $30,838 (-9.2%) from 2019

Net Assets

Down

$99,573

Down $25,061 (-20%) from 2019

Liabilities

Down

$205,884

Down $5,777 (-2.7%) from 2019

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin54th percentile

Revenue

Down

$95,090

Down $119,631 (-56%) from 2019

Expenses

Down

$87,872

Down $138,253 (-61%) from 2019

Net Income

Up

$7,218

Up $18,622 (+163%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$400K$300K$200K$100K$0-$100KAssets 2011: $4,526Liabilities 2011: $1,9702011Assets 2012: $7,552Liabilities 2012: $1,566Net Assets 2012: $5,9862012Assets 2013: $761Liabilities 2013: $1,920Net Assets 2013: -$1,1592013Assets 2014: $13,409Liabilities 2014: $2,408Net Assets 2014: $11,0012014Assets 2015: $42,785Liabilities 2015: $2,061Net Assets 2015: $40,7242015Assets 2016: $324,066Liabilities 2016: $216,968Net Assets 2016: $107,0982016Assets 2017: $375,799Liabilities 2017: $221,303Net Assets 2017: $154,4962017Assets 2018: $351,180Liabilities 2018: $215,142Net Assets 2018: $136,0382018Assets 2019: $336,295Liabilities 2019: $211,661Net Assets 2019: $124,6342019Assets 2020: $305,457Liabilities 2020: $205,884Net Assets 2020: $99,5732020Assets 2021: $301,602Liabilities 2021: $202,568Net Assets 2021: $99,0342021Assets 2022: $292,804Liabilities 2022: $198,544Net Assets 2022: $94,2602022Assets 2023: $271,476Liabilities 2023: $215,021Net Assets 2023: $56,4552023Assets 2024: $262,278Liabilities 2024: $209,673Net Assets 2024: $52,6052024

Highlighted filing

2020

Assets$305,457
Liabilities$205,884
Net Assets$99,573
Open 2020 Filing

Operations Trend

Revenue Growth25th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $73,253Expenses 2011: $71,440Net Income 2011: $1,8132011Revenue 2012: $74,574Expenses 2012: $69,491Net Income 2012: $5,0832012Revenue 2013: $75,800Expenses 2013: $82,945Net Income 2013: -$7,1452013Revenue 2014: $103,519Expenses 2014: $102,109Net Income 2014: $1,4102014Revenue 2015: $182,498Expenses 2015: $152,775Net Income 2015: $29,7232015Revenue 2016: $229,920Expenses 2016: $163,546Net Income 2016: $66,3742016Revenue 2017: $225,943Expenses 2017: $178,545Net Income 2017: $47,3982017Revenue 2018: $266,386Expenses 2018: $284,844Net Income 2018: -$18,4582018Revenue 2019: $214,721Expenses 2019: $226,125Net Income 2019: -$11,4042019Revenue 2020: $95,090Expenses 2020: $87,872Net Income 2020: $7,2182020Revenue 2021: $90,051Expenses 2021: $90,587Net Income 2021: -$5362021Revenue 2022: $116,125Expenses 2022: $120,899Net Income 2022: -$4,7742022Revenue 2023: $114,837Expenses 2023: $152,642Net Income 2023: -$37,8052023Revenue 2024: $172,293Expenses 2024: $176,143Net Income 2024: -$3,8502024

Highlighted filing

2020

Revenue$95,090
Expenses$87,872
Net Income$7,218
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$101,820
Mission and Program Overview

Mission

To promote art and art education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$279,257$271,718▼ $7,539
Cash and Non-Interest-Bearing Accounts$43,501$29,099▼ $14,402
Savings and Temporary Cash Investments$13,537$4,640▼ $8,897
Total Assets$336,295$305,457▼ $30,838
Liabilities
Mortgage Notes Payable Secured by Investment Property$209,382$205,791▼ $3,591
Unsecured Notes Loans Payable$2,000--
Accounts Payable and Accrued Expenses$279$93▼ $186
Total Liabilities$211,661$205,884▼ $5,777
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$124,634$99,573▼ $25,061
Total Net Assets Fund Balance$124,634$99,573▼ $25,061
Total Liabilities and Net Assets / Fund Balance$336,295$305,457▼ $30,838

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$271,718$22,303$294,021
Compensation and Service Providers
Top Officer Pay73rd percentile

Board Members and Trustees

NameTitle
Mark KurtzPresident
George CookBoard Member
Katherine Levin-lauBoard Member
Megan CharlandBoard Member
Richard BurdtBoard Member
Sandra HildrethBoard Member
Susan MillerBoard Member
Christopher CovertVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$79,293
Program Service Revenue
$9,018
Investment Income
$3
Other Revenue
$6,776
All Other Contributions
$53,800
Change in Net Assets
$7,218
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,866
Salaries, Compensation, and Employee Benefits$14,006
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy-$14,255-$14,255
Other Salaries and Wages-$12,308-$12,308
Interest-$9,868-$9,868
Depreciation Depletion-$7,539-$7,539
Insurance-$6,716-$6,716
Fees for Services Other-$4,110-$4,110
Fees for Services Accounting-$3,365-$3,365
Advertising-$3,345-$3,345
Office Expenses-$2,807-$2,807
Information Technology-$2,374-$2,374
Payroll Taxes-$1,698-$1,698
All Other Expenses-$500-$500
Other Expenses$17,208$418-$418
Travel-$218-$218
Total Functional Expenses$17,208$70,664$0$87,872
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
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
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, Page 6, Part VI, Line 11B

“An electronic copy of form 990 is provided to each board member prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available through the nys charities bureau registration website or upon request of the organization.”

Filing and Contact Details

Filer

Filer Name
Bluseed Studios Inc
EIN
80-0030909
Phone
5188913799
Address
24 CEDAR STREET, SARANAC LAKE, NY 12983

Signing Officer

Name
Mark Kurtz
Title
President
Phone
5188913799
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Kurtz
Formed
2003
Legal Domicile
Ny
Voting Board Members
8
Independent Board Members
8
Employees
1

Preparer

Firm
Boushie & Associates
Address
PO BOX 1013, SARANAC LAKE, NY 12983
Preparer
R Scott Boushie CPA
Phone
5188911754
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Spin-off of saranac lake artworks -32,279”

Raw XML Appendix367 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AN ELECTRONIC COPY OF FORM 990 IS PROVIDED TO EACH BOARD MEMBER PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING DOCUMENTS ARE AVAILABLE THROUGH THE NYS CHARITIES BUREAU REGISTRATION WEBSITE OR UPON REQUEST OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SPIN-OFF OF SARANAC LAKE ARTWORKS -32,279
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0336295
IRS990/TotalAssetsEOYAmt0305457
IRS990/TotalAssetsGrp/BOYAmt0336295
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IRS990/TotalContributionsAmt079293
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt070664
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt017208
IRS990/TotalFunctionalExpensesGrp/TotalAmt087872
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0211661
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IRS990/TotalLiabilitiesGrp/BOYAmt0211661
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IRS990/TotalProgramServiceExpensesAmt017208
IRS990/TotalProgramServiceRevenueAmt09018
IRS990/TotalRevenueGrp/ExclusionAmt02121
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt013676
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt095090
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IRS990/TravelGrp/TotalAmt0218
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IRS990/VotingMembersIndependentCnt08
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IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0MARK KURTZ
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd012983
ReturnHeader/PreparerPersonGrp/PhoneNum05188911754
ReturnHeader/PreparerPersonGrp/PreparationDt02021-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0R SCOTT BOUSHIE CPA
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ReturnHeader/ReturnTs02021-11-15T13:29:40-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MARK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0KURTZ
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$305,457
Liabilities
$205,884
Net assets
$99,573
Revenue
$95,090
Expenses
$87,872
Net income
$7,218
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$2.10$0.53$1.72$1.76$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.71$2.15$0.56$1.15$1.53$0.38
2022Detailed filing. Detailed filing data is available for this year.$2.93$1.99$0.94$1.16$1.21$0.05
2021Detailed filing. Detailed filing data is available for this year.$3.02$2.03$0.99$0.90$0.91$0.01
2020Detailed filing. Detailed filing data is available for this year.$3.05$2.06$1.00$0.95$0.88$0.07
2019Detailed filing. Detailed filing data is available for this year.$3.36$2.12$1.25$2.15$2.26$0.11
2018Detailed filing. Detailed filing data is available for this year.$3.51$2.15$1.36$2.66$2.85$0.18
2017Detailed filing. Detailed filing data is available for this year.$3.76$2.21$1.54$2.26$1.79$0.47
2016Detailed filing. Detailed filing data is available for this year.$3.24$2.17$1.07$2.30$1.64$0.66
2015Detailed filing. Detailed filing data is available for this year.$0.43$0.02$0.41$1.82$1.53$0.30
2014Detailed filing. Detailed filing data is available for this year.$0.13$0.02$0.11$1.04$1.02$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.02$0.01$0.76$0.83$0.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.02$0.06$0.75$0.69$0.05
2011Summary only. Only limited summary data is available for this year.$0.05$0.02$0.73$0.71$0.02