Civic Intelligence

1761 Arts Inc.

990 • Fiscal year 2018 • EIN 82-1117858

Jan 01, 2018 to Dec 31, 2018 • Filed on Apr 29, 2019

Organization Profile1761arts.org
316 Old Mill RoadEast Arlington, VT 05252

(802) 430-7116

Siviq Scores

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

Liabilities / Assets

91st percentile

0.81x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

97th percentile

4.76x

Higher debt load relative to revenue than 97% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

19th percentile

-11%

Higher net margin than 19% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

98th percentile

372%

Faster asset growth than 98% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

9th percentile

-34%

Faster revenue growth than 9% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets91st percentile

Assets

Up

$539,530

Up $425,301 (+372%) from 2017

Net Assets

Down

$103,907

Down $10,322 (-9.0%) from 2017

Liabilities

Up

$435,623

Up $435,623 from 2017

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin19th percentile

Revenue

Down

$91,434

Down $46,466 (-34%) from 2017

Expenses

Up

$101,756

Up $78,085 (+330%) from 2017

Net Income

Down

-$10,322

Down $124,551 (-109%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$600K$400K$200K$0-$200KAssets 2017: $114,229Liabilities 2017: $0Net Assets 2017: $114,2292017Assets 2018: $539,530Liabilities 2018: $435,623Net Assets 2018: $103,9072018Assets 2018: $539,530Liabilities 2018: $435,623Net Assets 2018: $103,9072018Assets 2019: $20,933Liabilities 2019: $57,009Net Assets 2019: -$36,0762019Assets 2020: $71,168Liabilities 2020: $0Net Assets 2020: $71,1682020Assets 2021: $119,295Liabilities 2021: $0Net Assets 2021: $119,2952021Assets 2022: $119,901Liabilities 2022: $0Net Assets 2022: $119,9012022Assets 2023: $171,473Liabilities 2023: $0Net Assets 2023: $171,4732023Assets 2024: $168,549Liabilities 2024: $0Net Assets 2024: $168,5492024

Highlighted filing

2018

Assets$539,530
Liabilities$435,623
Net Assets$103,907
Open 2018 Filing

Operations Trend

Revenue Growth9th percentile

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

$150K$100K$50K$0-$50KRevenue 2017: $137,900Expenses 2017: $23,671Net Income 2017: $114,2292017Revenue 2018: $91,434Expenses 2018: $101,756Net Income 2018: -$10,3222018Revenue 2018: $91,434Expenses 2018: $101,756Net Income 2018: -$10,3222018Revenue 2019: $21,048Expenses 2019: $32,431Net Income 2019: -$11,3832019Revenue 2020: $129,878Expenses 2020: $22,634Net Income 2020: $107,2442020Revenue 2021: $58,103Expenses 2021: $9,976Net Income 2021: $48,1272021Revenue 2022: $42,945Expenses 2022: $42,339Net Income 2022: $6062022Revenue 2023: $62,577Expenses 2023: $11,005Net Income 2023: $51,5722023Revenue 2024: $1,100Expenses 2024: $4,024Net Income 2024: -$2,9242024

Highlighted filing

2018

Revenue$91,434
Expenses$101,756
Net Income-$10,322
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Apr 29, 2019
Return Version
2018v3.1
Gross Receipts
$83,734
Mission and Program Overview

Mission

Charitable and educational

The organizations mission is to foster collaborations on both the individual and organizational levels with the purpose of developing revolutionary ideas in the arts and humanities. These initiatives are coupled with youth education and mentorship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$111,715--
Loans From Officers Directors$120,900$57,009▼ $63,891
Inventories for Sale or Use-$20,000-
Cash and Non-Interest-Bearing Accounts$2,514$12,489▲ $9,975
Rtn Earn Endowment Incm Other Fnds$-6,671$-24,693▼ $18,022
Total Assets$114,229$32,489▼ $81,740
Liabilities
Other Liabilities-$173-
Total Liabilities$120,900$57,182▼ $63,718
Net Assets / Fund Balance
Total Net Assets Fund Balance$-6,671$-24,693▼ $18,022
Total Liabilities and Net Assets / Fund Balance$114,229$32,489▼ $81,740
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Joshua ShermanPresident
Daniel HealySecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$52,939
Program Service Revenue
$24,589
Investment Income
$6
Other Revenue
$6,200
All Other Contributions
$52,939
Change in Net Assets
$-18,022

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Works of Art1$100,000Ind Appraisal
Total Noncash Contributions1$100,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$101,756
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$41,500--$41,500
Other Expenses$28,222--$28,222
Travel$5,197--$5,197
Insurance$2,257--$2,257
Advertising$1,780--$1,780
All Other Expenses$50--$50
Total Functional Expenses$101,756$0$0$101,756
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$120,900$57,009▼ $63,891
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sales Tax Payable$173
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
Yes
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

Officer directors etc family relationship Part VI line 2

“Satisfaction of Loan and Assumption of Debt1761 Arts, Inc. (Company) received a loan from Gristmill Productions, LLC (Gristmill Productions) in 2018 in the principal amount of $435450 (the Gristmill Loan) to finance certain tenant improvements at 288 Old Mill Road, East Arlington, VT (Tenant Improvements); Gristmill Productions is owned 100% by Joshua Sherman, who also serves on the board of Company.Gristmill Productions purchased all right, title and interest in and to the Tenant Improvements in exchange for a satisfaction in full of the Gristmill Loan and an assumption in full of the Additional Debt. Lease1761 Arts, Inc. (Company) leased 288 Old Mill Road, East Arlington, VT and 348 Old Mill Road, East Arlington, VT from Gristmill Productions, LLC (Gristmill Productions). Gristmill Productions is owned 100% by Joshua Sherman, who also serves on the board of the Company.The lease was terminated as of September 30, 2018.”

Organizational document changes Part VI line 4

“The organizations name was changed.”

Form 990 governing body review Part VI line 11

“The return was sent to the Board of Directors to review before signing and electronically filing.”

Governing documents etc available to public Part VI line 19

“Upon request to the Board of Directors, copies of governing documents are provided.”

Filing and Contact Details

Filer

Filer Name
1761 Arts Inc
EIN
82-1117858
Address
316 Old Mill Road, East Arlington, VT 05252

Signing Officer

Name
Joshua Sherman
Title
President
Phone
9173125995
Signed
2019-04-29
Discuss with paid preparer
No

Organization Details

Principal Officer
Joshua Sherman President
Formed
2017
Legal Domicile
Vt
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
6

Preparer

Firm
Eve Loren Munsky CPA PC
Address
585 N Bicycle Path Ste 12, Port Jefferson Stati, NY 11776
Preparer
Eve Loren Munsky CPA
Phone
6317512115
Supplemental Narrative

Additional Explanations

Amended return information

“Monies previously reported as contributions were actually loans to the company.”

Raw XML Appendix337 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/ExplanationTxt1Satisfaction of Loan and Assumption of Debt1761 Arts, Inc. (Company) received a loan from Gristmill Productions, LLC (Gristmill Productions) in 2018 in the principal amount of $435450 (the Gristmill Loan) to finance certain tenant improvements at 288 Old Mill Road, East Arlington, VT (Tenant Improvements); Gristmill Productions is owned 100% by Joshua Sherman, who also serves on the board of Company.Gristmill Productions purchased all right, title and interest in and to the Tenant Improvements in exchange for a satisfaction in full of the Gristmill Loan and an assumption in full of the Additional Debt. Lease1761 Arts, Inc. (Company) leased 288 Old Mill Road, East Arlington, VT and 348 Old Mill Road, East Arlington, VT from Gristmill Productions, LLC (Gristmill Productions). Gristmill Productions is owned 100% by Joshua Sherman, who also serves on the board of the Company.The lease was terminated as of September 30, 2018.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organizations name was changed.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The return was sent to the Board of Directors to review before signing and electronically filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Upon request to the Board of Directors, copies of governing documents are provided.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Amended return information
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Organizational document changes Part VI line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt030795
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt083734
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0114229
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt032489
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ProgramServicesAmt05197
IRS990/TravelGrp/TotalAmt05197
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationOtherInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0316 Old Mill Road
IRS990/USAddress/CityNm0East Arlington
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005252
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt01761arts.org
IRS990/WhistleblowerPolicyInd0true
IRS990/WrittenPolicyOrProcedureInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Joshua Sherman
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum09173125995
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-04-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt01761 Arts Inc
ReturnHeader/Filer/BusinessNameControlTxt01761
ReturnHeader/Filer/EIN0821117858
ReturnHeader/Filer/USAddress/AddressLine1Txt0316 Old Mill Road
ReturnHeader/Filer/USAddress/CityNm0East Arlington
ReturnHeader/Filer/USAddress/StateAbbreviationCd0VT
ReturnHeader/Filer/USAddress/ZIPCd005252
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F0088F5377504EE9242DDB1A0C1CB943EE76822C
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F0088F5377504EE9242DDB1A0C1CB943EE76822C
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId01277572020324ivze43p
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02020-11-19
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt069.117.172.24
ReturnHeader/FilingSecurityInformation/IPDt02020-11-19
ReturnHeader/FilingSecurityInformation/IPTm014:31:09
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203087727
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Eve Loren Munsky CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0585 N Bicycle Path Ste 12
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Port Jefferson Stati
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011776
ReturnHeader/PreparerPersonGrp/PhoneNum06317512115
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Eve Loren Munsky CPA
ReturnHeader/ReturnTs02020-11-19T14:27:51-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$539,530
Liabilities
$435,623
Net assets
$103,907
Revenue
$91,434
Expenses
$101,756
Net income
-$10,322
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.69$0.00$1.69$0.01$0.04$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$0.63$0.11$0.52
2022Detailed filing. Detailed filing data is available for this year.$1.20$0.00$1.20$0.43$0.42$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.19$0.00$1.19$0.58$0.10$0.48
2020Detailed filing. Detailed filing data is available for this year.$0.71$0.00$0.71$1.30$0.23$1.07
2019Summary only. Only limited summary data is available for this year.$0.21$0.57$0.36$0.21$0.32$0.11
2018Detailed filing. Detailed filing data is available for this year.$5.40$4.36$1.04$0.91$1.02$0.10
2018Detailed filing. Detailed filing data is available for this year.$5.40$4.36$1.04$0.91$1.02$0.10
2017Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$1.38$0.24$1.14