Civic Intelligence

The Avenue Concept Inc

990 • Fiscal year 2018 • EIN 81-0877541

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 24, 2018

304 Lockwood StreetProvidence, RI 02907

(401) 490-0929

Siviq Scores

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

Liabilities / Assets

91st percentile

0.63x

Higher debt load relative to assets than 91% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

95th percentile

0.80x

Higher debt load relative to revenue than 95% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

75th percentile

19%

Higher net margin than 75% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

94th percentile

$60,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 17.2% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

96th percentile

294%

Faster asset growth than 96% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

233%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Assets

Up

$442,942

Up $330,635 (+294%) from 2017

Net Assets

Up

$165,038

Up $67,394 (+69%) from 2017

Liabilities

Up

$277,904

Up $263,241 (+1795%) from 2017

Revenue

Up

$349,419

Up $244,419 (+233%) from 2017

Expenses

Up

$282,930

Up $106,082 (+60%) from 2017

Net Income

Up

$66,489

Up $138,337 (+193%) from 2017

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2016: $185,036Liabilities 2016: $15,544Net Assets 2016: $169,4922016Assets 2017: $112,307Liabilities 2017: $14,663Net Assets 2017: $97,6442017Assets 2018: $442,942Liabilities 2018: $277,904Net Assets 2018: $165,0382018Assets 2019: $162,313Liabilities 2019: $33,955Net Assets 2019: $128,3582019Assets 2020: $309,731Liabilities 2020: $69,398Net Assets 2020: $240,3332020Assets 2021: $372,821Liabilities 2021: $73,004Net Assets 2021: $299,8172021Assets 2022: $743,669Liabilities 2022: $18,506Net Assets 2022: $725,1632022Assets 2023: $1,103,538Liabilities 2023: $28,349Net Assets 2023: $1,075,1892023Assets 2024: $1,215,581Liabilities 2024: $25,354Net Assets 2024: $1,190,2272024

Highlighted filing

2018

Assets$442,942
Liabilities$277,904
Net Assets$165,038

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $313,860Expenses 2016: $144,368Net Income 2016: $169,4922016Revenue 2017: $105,000Expenses 2017: $176,848Net Income 2017: -$71,8482017Revenue 2018: $349,419Expenses 2018: $282,930Net Income 2018: $66,4892018Revenue 2019: $520,973Expenses 2019: $508,581Net Income 2019: $12,3922019Revenue 2020: $573,623Expenses 2020: $475,859Net Income 2020: $97,7642020Revenue 2021: $624,120Expenses 2021: $610,825Net Income 2021: $13,2952021Revenue 2022: $1,015,072Expenses 2022: $591,769Net Income 2022: $423,3032022Revenue 2023: $1,384,146Expenses 2023: $1,034,120Net Income 2023: $350,0262023Revenue 2024: $1,157,523Expenses 2024: $1,044,570Net Income 2024: $112,9532024

Highlighted filing

2018

Revenue$349,419
Expenses$282,930
Net Income$66,489
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 24, 2018
Return Version
2017v2.3
Gross Receipts
$350,812
Mission and Program Overview

Mission

To bring sustainable public art to rhode island. Supporting and promoting public art and artists among the general public as well as providing educational programs to local youth and the general public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$2,415$328,004▲ $325,589
Rtn Earn Endowment Incm Other Fnds$97,644$165,038▲ $67,394
Savings and Temporary Cash Investments$60,035--
Land, Buildings, and Equipment, Net$43,001$47,101▲ $4,100
Receivables From Officers Etc-$34,008-
Inventories for Sale or Use$6,856$21,249▲ $14,393
Loans From Officers Directors$12,889--
Prepaid Expenses and Deferred Charges-$10,000-
Accounts Receivable-$2,580-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$112,307$442,942▲ $330,635
Liabilities
Deferred Revenue-$250,000-
Accounts Payable and Accrued Expenses-$17,016-
Other Liabilities$1,774$10,888▲ $9,114
Total Liabilities$14,663$277,904▲ $263,241
Net Assets / Fund Balance
Total Net Assets Fund Balance$97,644$165,038▲ $67,394
Total Liabilities and Net Assets / Fund Balance$112,307$442,942▲ $330,635

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$25,661$1,756$27,417
Other Land Buildings$9,649$9,650$19,299
Equipment$11,791$2,442$14,233
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Yarrow ThorneDirector Co-FounderFT$60,000$60,000

Board Members and Trustees

NameTitle
Mike RitzChair
Carla RicciDirector
Cheryl ShawDirector
Dr Charles Denby IIDirector
Edward LawrenceDirector
Franciso LoveraDirector
Jennifer MassottiDirector
Jill WoodcomeDirector
Owen JohnsonDirector CEO
Hannah ChungDirector Co-Founder
Jeffrey K TechentinSecretary
Robert MonnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$320,664
Program Service Revenue
$25,903
Investment Income
$0
Other Revenue
$2,852
All Other Contributions
$320,664
Change in Net Assets
$66,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$190,294
Salaries, Compensation, and Employee Benefits$92,636
Total Fundraising Expense$4,395
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$120,087$5,450-$125,537
Current Officers, Directors, Trustees, and Key Employees$45,000$12,000$3,000$60,000
Other Salaries and Wages$21,124$3,000$1,000$25,124
Occupancy$12,894$4,298-$17,192
Fees for Services Legal-$15,892-$15,892
Payroll Taxes$5,634$1,483$395$7,512
Insurance-$6,123-$6,123
Depreciation Depletion$565$5,200-$5,765
All Other Expenses-$2,662-$2,662
Other Expenses$3,464$1,591-$1,591
Fees for Services Accounting-$1,170-$1,170
Conferences and Meetings-$1,110-$1,110
Travel-$810-$810
Advertising-$794-$794
Office Expenses-$4-$4
Total Functional Expenses$216,948$61,587$4,395$282,930
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
Receivables from Officers, Directors, Trustees, and Key Employees-$34,008-
Loans from Officers, Directors, Trustees, and Key Employees$12,889--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards$10,888
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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, Part VI, Section B, line 11B

The Board of Directors and bookkeeper review the Form 990 prior to signing officer filing the tax return.

Form 990, Part VI, Section C, line 19

Upon request

Filing and Contact Details

Filer

Filer Name
The Avenue Concept Inc
EIN
81-0877541
Phone
4014900929
Address
304 Lockwood Street, Providence, RI 02907

Signing Officer

Name
Yarrow Thorne
Title
Director
Phone
4014900929
Signed
2018-11-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Yarrow Thorne
Formed
2015
Legal Domicile
Ri
Voting Board Members
13
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Michelle Hughes CPA
Address
654 Metacom Ave Ste 3, Warren, RI 02885
Phone
5084507362
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Artists and contractors: Program service expenses 75,276. Management and general expenses 0. Fundraising expenses 0. Total expenses 75,276. Bookkeeper: Program service expenses 0. Management and general expenses 4,262. Fundraising expenses 0. Total expenses 4,262. Payroll service fees: Program service expenses 0. Management and general expenses 1,188. Fundraising expenses 0. Total expenses 1,188. Editor: Program service expenses 1,172. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,172. Facilities labor: Program service expenses 14,089. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,089. Graphic design: Program service expenses 100. Management and general expenses 0. Fundraising expenses 0. Total expenses 100. Photography: Program service expenses 14,450. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,450. Storytelling: Program service expenses 15,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,000.

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IRS990/PayrollTaxesGrp/ProgramServicesAmt05634
IRS990/PayrollTaxesGrp/TotalAmt07512
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010000
IRS990/PrincipalOfficerNm0Yarrow Thorne
IRS990/PriorPeriodAdjustmentsAmt0905
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531120
IRS990/ProgramServiceRevenueGrp/BusinessCd1452000
IRS990/ProgramServiceRevenueGrp/Desc0Classroom/Facility Ren
IRS990/ProgramServiceRevenueGrp/Desc1Public Art Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt019553
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt16350
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt019553
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt16350
IRS990/ProgSrvcAccomActy2Grp/Desc0Rain Garden and Art Pad at Emmitt Square
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04000
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt00
IRS990/ProgSrvcAccomActy3Grp/Desc0The facility runs educational programs and rents it's classroom out for art related instructional functions.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0671
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt019553
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Public paint bar for use in creating public art.
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt02852
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0113436
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt028
IRS990/PYOtherExpensesAmt0161905
IRS990/PYOtherRevenueAmt0-11731
IRS990/PYProgramServiceRevenueAmt03267
IRS990/PYRevenuesLessExpensesAmt0-71848
IRS990/PYSalariesCompEmpBnftPaidAmt014943
IRS990/PYTotalExpensesAmt0176848
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0105000
IRS990/QuidProQuoContributionsInd00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt034008
IRS990/ReconcilationRevenueExpnssAmt066489
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt06350
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt097644
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0165038
IRS990/SavingsAndTempCashInvstGrp/BOYAmt060035
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0320664
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0113436
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0295114
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0729214
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt028
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt07
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt035
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt030127
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt05274
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt018739
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt054140
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt028
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt07
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt035
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00010
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct00.99990
IRS990ScheduleA/PublicSupportTotal509Amt0783354
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0350791
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0118710
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0313853
IRS990ScheduleA/Total509Grp/TotalAmt0783354
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0350791
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0118738
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0313860
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0783389
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt025661
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01756
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt027417
IRS990ScheduleD/EquipmentGrp/BookValueAmt011791
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02442
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014233
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09649
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt09650
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt019299
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010888
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Credit Cards
IRS990ScheduleD/TotalBookValueLandBuildingsAmt047101
IRS990ScheduleD/TotalLiabilityAmt010888
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0The board of directors votes upon the set amount of compensation to provide its Executive Director. The Director does not vote on his own compensation decision.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt034008
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd11
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd10
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0To fund operating account
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Excess of amounts paid on transfer from S-corporation
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt014000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Yarrow Thorne
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Yarrow Thorne
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Director/Founder
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Director/Founder
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd10
IRS990ScheduleL/TotalBalanceDueAmt034008
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board of Directors and bookkeeper review the Form 990 prior to signing officer filing the tax return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Upon request
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Artists and contractors: Program service expenses 75,276. Management and general expenses 0. Fundraising expenses 0. Total expenses 75,276. Bookkeeper: Program service expenses 0. Management and general expenses 4,262. Fundraising expenses 0. Total expenses 4,262. Payroll service fees: Program service expenses 0. Management and general expenses 1,188. Fundraising expenses 0. Total expenses 1,188. Editor: Program service expenses 1,172. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,172. Facilities labor: Program service expenses 14,089. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,089. Graphic design: Program service expenses 100. Management and general expenses 0. Fundraising expenses 0. Total expenses 100. Photography: Program service expenses 14,450. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,450. Storytelling: Program service expenses 15,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 15,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00

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