Civic Intelligence

Source Studio Inc.

990 • Fiscal year 2023 • EIN 82-2238179

Jan 01, 2023 to Dec 31, 2023 • Filed on Jan 17, 2025

Organization ProfileWWW.SOURCESTUDIO.ORG
PO Box 505Burnsville, NC 28714

(865) 310-0532

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$299,942

Down $124,638 (-29%) from 2022

Net Assets

Down

$295,378

Down $121,312 (-29%) from 2022

Liabilities

Down

$4,564

Down $3,326 (-42%) from 2022

Revenue And Expenses

Revenue

Down

$62,108

Down $342,134 (-85%) from 2022

Expenses

Down

$183,420

Down $16,083 (-8.1%) from 2022

Net Income

Down

-$121,312

Down $326,051 (-159%) from 2022

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2018: $58,884Liabilities 2018: $6,077Net Assets 2018: $52,8072018Assets 2019: $231,031Liabilities 2019: $1,468Net Assets 2019: $229,5632019Assets 2020: $300,591Liabilities 2020: $4,507Net Assets 2020: $296,0842020Assets 2021: $234,389Liabilities 2021: $22,438Net Assets 2021: $211,9512021Assets 2022: $424,580Liabilities 2022: $7,890Net Assets 2022: $416,6902022Assets 2023: $299,942Liabilities 2023: $4,564Net Assets 2023: $295,3782023Assets 2024: $391,245Liabilities 2024: $4,377Net Assets 2024: $386,8682024

Highlighted filing

2023

Assets$299,942
Liabilities$4,564
Net Assets$295,378
Open 2023 Filing

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2018: $157,219Expenses 2018: $104,550Net Income 2018: $52,6692018Revenue 2019: $308,226Expenses 2019: $131,470Net Income 2019: $176,7562019Revenue 2020: $172,730Expenses 2020: $106,209Net Income 2020: $66,5212020Revenue 2021: $77,775Expenses 2021: $161,908Net Income 2021: -$84,1332021Revenue 2022: $404,242Expenses 2022: $199,503Net Income 2022: $204,7392022Revenue 2023: $62,108Expenses 2023: $183,420Net Income 2023: -$121,3122023Revenue 2024: $313,729Expenses 2024: $222,239Net Income 2024: $91,4902024

Highlighted filing

2023

Revenue$62,108
Expenses$183,420
Net Income-$121,312
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jan 17, 2025
Return Version
2023v6.0
Gross Receipts
$62,108
Mission and Program Overview

Mission

SOURCE Studios: Sustained Operations Utilizing Resources for Culture, Communities, and the Environment.

Source studio is a studio with a mission in the name: sustained operations utilizing resources for culture, communities, and the environment. Founded by macarthur fellow and artist mel chin, s.o.u.r.c.e is an artist-centered and action-oriented studio focused on artistic approaches that connect people while addressing human challenges in bold, beautiful and poetic ways.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$424,052$269,414▼ $154,638
Accounts Receivable-$30,000-
Total Assets$424,580$299,942▼ $124,638
Other Assets Total$528$528→ $0
Liabilities
Other Liabilities$1,222$3,180▲ $1,958
Accounts Payable and Accrued Expenses$6,668$1,384▼ $5,284
Total Liabilities$7,890$4,564▼ $3,326
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$416,690$295,378▼ $121,312
Total Net Assets Fund Balance$416,690$295,378▼ $121,312
Total Liabilities and Net Assets / Fund Balance$424,580$299,942▼ $124,638
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Amanda WilesExecutive DiFT$75,000$5,450$80,450

Board Members and Trustees

NameTitle
Tabitha WilliamsBoard Chair
Christina JenkinsBoard Member
Sinead LopezBoard Member
Patricia WilliamsSecretary
Alana PierceTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$61,200
Program Service Revenue
$0
Investment Income
$908
Other Revenue
$0
All Other Contributions
$61,200
Change in Net Assets
$-121,312
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$101,319
Other Expenses$82,101
Total Fundraising Expense$5,672
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$48,750$22,500$3,750$75,000
Fees for Services Other$14,596$12,999$1,613$29,208
Travel$19,588$5,559-$25,147
Other Expenses$16,207--$16,207
Other Salaries and Wages$6,890$6,890-$13,780
Payroll Taxes$4,442$2,348$299$7,089
Other Employee Benefits-$5,450-$5,450
Office Expenses$1,178$3,272-$4,450
Fees for Services Accounting-$4,075-$4,075
Information Technology$160$795$10$965
Insurance-$712-$712
Advertising-$681-$681
Conferences and Meetings$356--$356
Fees for Services Legal-$300-$300
Total Functional Expenses$112,167$65,581$5,672$183,420
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Liabilities$2,382
Credit Card Payable$798
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
Yes
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

“Reviewed and approved by the board prior to filing.”

Form 990, Page 6, Part VI, Line 15A

“The board members led a process of review and comparable for ed compensation.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Source Studio Inc
EIN
82-2238179
Phone
8653100532
Address
PO BOX 505, BURNSVILLE, NC 28714
Doing Business As
Source Studio

Signing Officer

Name
Amanda Wiles
Title
Executive Director
Phone
8653100532
Signed
2025-01-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alana Pierce
Formed
2017
Legal Domicile
Nc
Voting Board Members
5
Independent Board Members
5
Employees
3
Volunteers
11

Preparer

Firm
Leah B Noel CPA Pc
Address
14 S PACK SQ 503, ASHEVILLE, NC 28801
Preparer
Leah B Noel CPA
Phone
8283334529
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Source studio is a studio with a mission in the name: sustained operations utilizing resources for culture, communities, and the environment. Founded by macarthur fellow and artist mel chin, s.o.u.r.c.e is an artist-centered and action-oriented studio focused on artistic approaches that connect people while addressing human challenges in bold, beautiful and poetic ways.”

Form 990, Part IX, Line 11G

“Project organizer 0 7,224 0 honorarium 1,816 0 0 program assistant 620 0 0 program facilitator 7,000 4,800 0 advising consultants 5,160 0 0 consulting 0 975 1,613 total 14,596 12,999 1,613”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SOURCE STUDIO IS A STUDIO WITH A MISSION IN THE NAME: SUSTAINED OPERATIONS UTILIZING RESOURCES FOR CULTURE, COMMUNITIES, AND THE ENVIRONMENT. FOUNDED BY MACARTHUR FELLOW AND ARTIST MEL CHIN, S.O.U.R.C.E IS AN ARTIST-CENTERED AND ACTION-ORIENTED STUDIO FOCUSED ON ARTISTIC APPROACHES THAT CONNECT PEOPLE WHILE ADDRESSING HUMAN CHALLENGES IN BOLD, BEAUTIFUL AND POETIC WAYS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED AND APPROVED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS LED A PROCESS OF REVIEW AND COMPARABLE FOR ED COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PROJECT ORGANIZER 0 7,224 0 HONORARIUM 1,816 0 0 PROGRAM ASSISTANT 620 0 0 PROGRAM FACILITATOR 7,000 4,800 0 ADVISING CONSULTANTS 5,160 0 0 CONSULTING 0 975 1,613 TOTAL 14,596 12,999 1,613
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TotalAssetsEOYAmt0299942
IRS990/TotalAssetsGrp/BOYAmt0424580
IRS990/TotalAssetsGrp/EOYAmt0299942
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt061200
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt05672
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt065581
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0112167
IRS990/TotalFunctionalExpensesGrp/TotalAmt0183420
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt04564
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0416690
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0295378
IRS990/TotalOtherCompensationAmt05450
IRS990/TotalProgramServiceExpensesAmt0112167
IRS990/TotalReportableCompFromOrgAmt075000
IRS990/TotalRevenueGrp/ExclusionAmt0908
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt062108
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0424580
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0299942
IRS990/TravelGrp/ManagementAndGeneralAmt05559
IRS990/TravelGrp/ProgramServicesAmt019588
IRS990/TravelGrp/TotalAmt025147
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 698
IRS990/USAddress/CityNm0TOPANGA
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090290
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.SOURCESTUDIO.ORG
IRS990/WhistleblowerPolicyInd0false
ReasonableCauseExplanation/ExplanationTxt0PLEASE NOTE BOTH PHYSICAL LOCATION OF TAXPAYER AND LOCATION OF TAX PREPARER ARE LOCATED IN THE HURRICANE HELENE DISASTER AREA.
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0AMANDA WILES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08653100532
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOURCE STUDIO INC
ReturnHeader/Filer/BusinessNameControlTxt0SOUR
ReturnHeader/Filer/EIN0822238179
ReturnHeader/Filer/PhoneNum08653100532
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 505
ReturnHeader/Filer/USAddress/CityNm0BURNSVILLE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028714
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0271380715
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LEAH B NOEL CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt014 S PACK SQ 503
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ASHEVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd028801
ReturnHeader/PreparerPersonGrp/PhoneNum08283334529
ReturnHeader/PreparerPersonGrp/PreparationDt02025-01-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEAH B NOEL CPA
ReturnHeader/ReturnTs02025-02-17T16:08:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$299,942
Liabilities
$4,564
Net assets
$295,378
Revenue
$62,108
Expenses
$183,420
Net income
-$121,312
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.91$0.04$3.87$3.14$2.22$0.91
2023Detailed filing. Detailed filing data is available for this year.$3.00$0.05$2.95$0.62$1.83$1.21
2022Detailed filing. Detailed filing data is available for this year.$4.25$0.08$4.17$4.04$2.00$2.05
2021Detailed filing. Detailed filing data is available for this year.$2.34$0.22$2.12$0.78$1.62$0.84
2020Detailed filing. Detailed filing data is available for this year.$3.01$0.05$2.96$1.73$1.06$0.67
2019Detailed filing. Detailed filing data is available for this year.$2.31$0.01$2.30$3.08$1.31$1.77
2018Detailed filing. Detailed filing data is available for this year.$0.59$0.06$0.53$1.57$1.05$0.53