Civic Intelligence

Arts Business Collaborative Inc.

990 • Fiscal year 2020 • EIN 83-2173068

Jan 01, 2020 to Dec 31, 2020 • Filed on Dec 03, 2021

31-00 47th Avenue Suite 3100Long Island City, NY 11101

(917) 273-0209

Siviq Scores

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

Liabilities / Assets

12th percentile

0.01x

Higher debt load relative to assets than 12% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

7th percentile

0.01x

Higher debt load relative to revenue than 7% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

95th percentile

68%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

22nd percentile

$97,441

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

100th percentile

83075%

Faster asset growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

100th percentile

12415%

Faster revenue growth than 100% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Assets

Up

$7,017,438

Up $7,009,001 (+83075%) from 2019

Net Assets

Up

$6,964,433

Up $6,957,014 (+93773%) from 2019

Liabilities

Up

$53,005

Up $51,987 (+5107%) from 2019

Revenue

Up

$10,163,543

Up $10,082,331 (+12415%) from 2019

Expenses

Up

$3,206,529

Up $3,132,736 (+4245%) from 2019

Net Income

Up

$6,957,014

Up $6,949,595 (+93673%) from 2019

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2019: $8,437Liabilities 2019: $1,018Net Assets 2019: $7,4192019Assets 2020: $7,017,438Liabilities 2020: $53,005Net Assets 2020: $6,964,4332020Assets 2021: $8,659,572Liabilities 2021: $103,924Net Assets 2021: $8,555,6482021Assets 2022: $1,559,343Liabilities 2022: $171,115Net Assets 2022: $1,388,2282022Assets 2023: $676,942Liabilities 2023: $63,549Net Assets 2023: $613,3932023Assets 2024: $174,877Liabilities 2024: $303,740Net Assets 2024: -$128,8632024

Highlighted filing

2020

Assets$7,017,438
Liabilities$53,005
Net Assets$6,964,433

Operations Trend

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

$15M$10M$5.0M$0-$5.0M-$10MRevenue 2019: $81,212Expenses 2019: $73,793Net Income 2019: $7,4192019Revenue 2020: $10,163,543Expenses 2020: $3,206,529Net Income 2020: $6,957,0142020Revenue 2021: $7,475,051Expenses 2021: $5,883,836Net Income 2021: $1,591,2152021Revenue 2022: $2,142,247Expenses 2022: $9,099,544Net Income 2022: -$6,957,2972022Revenue 2023: $1,893,428Expenses 2023: $2,683,383Net Income 2023: -$789,9552023Revenue 2024: $321,078Expenses 2024: $736,783Net Income 2024: -$415,7052024

Highlighted filing

2020

Revenue$10,163,543
Expenses$3,206,529
Net Income$6,957,014
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Dec 3, 2021
Return Version
2020v4.1
Gross Receipts
$10,163,543
Mission and Program Overview

Mission

Arts business collaborative, inc is a technical assistance and research organization with a mission to improve quality of life for people of color through the arts and "stem" science, technology, engineering, and mathematics. These services focus on the underlying factors that impede their creative and professional endeavors: access to capital, networks, and training. Abc aims to systemically improve the quality of life in communities of color through two main services: the grassroots action project and the rising tides research institute. The organization supported primarily through contributions from the public and private grants.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$5,937$6,961,268▲ $6,955,331
Accounts Receivable$2,500$30,350▲ $27,850
Total Assets$8,437$7,017,438▲ $7,009,001
Other Assets Total$0$25,820▲ $25,820
Liabilities
Deferred Revenue-$27,900-
Accounts Payable and Accrued Expenses$1,018$15,205▲ $14,187
Unsecured Notes Loans Payable-$9,900-
Total Liabilities$1,018$53,005▲ $51,987
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$7,419$6,815,351▲ $6,807,932
Net Assets With Donor Restrictions-$149,082-
Total Net Assets Fund Balance$7,419$6,964,433▲ $6,957,014
Total Liabilities and Net Assets / Fund Balance$8,437$7,017,438▲ $7,009,001
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kat BloomfieldCEOFT$97,441$97,441
Revenue and Support

Revenue Composition

Contributions and Grants
$9,584,460
Program Service Revenue
$578,932
Investment Income
$0
Other Revenue
$151
All Other Contributions
$9,584,460
Change in Net Assets
$6,957,014

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,163,543
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$10,163,543
Total Revenue per Form 990
$10,163,543
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,870,511
Grants and Similar Amounts Paid$1,044,185
Total Fundraising Expense$546,610
Salaries, Compensation, and Employee Benefits$291,833
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,044,185--$1,044,185
Fees for Services Other$133,098-$520,110$653,208
Current Officers, Directors, Trustees, and Key Employees$272,603--$272,603
Fees for Services Accounting-$63,149-$63,149
Occupancy$48,075--$48,075
All Other Expenses$37,713--$37,713
Fees for Services Legal-$36,200-$36,200
Other Expenses$24,531$135,396$26,500$24,531
Office Expenses$16,063$3,307-$19,370
Payroll Taxes$19,230--$19,230
Travel$10,583--$10,583
Advertising$6,679--$6,679
Insurance$5,094--$5,094
Information Technology$3,244--$3,244
Total Functional Expenses$2,421,867$238,052$546,610$3,206,529

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,206,529
Total Expenses per Audited Statements$3,206,529
Total Expenses per Form 990$3,206,529
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board MemberConsulting CompensationNo$23,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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, Part VI, Section A, Line 2

The organization receives donations primarily to fund one or more social projects that provide small to mid-sized organizations across the nation with program development, program evaluation, board development for racial equity, fundraising, and community organizing. These projects contribute to progressive and radical public policies that address the enduring systems of inequalities that have impacted minority communities, with a focus on key stakeholders in the cultural arts including artists, business owners, and not for profit organizations.

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent certified public accounting firm, engaged by the governing body, in which a draft copy of the form 990 is routed to the governing body for review and comment prior to filing with the internal revenue service.

Form 990, Part VI, Section B, Line 15A

Compensation for the ceo of the organization is reviewed and approved by the governing body with authority to act on behalf of the organization.

Form 990, Part VI, Section C, Line 18

The form 990 is available upon request for a period of three years from the due date of the return.

Form 990, Part VI, Section C, Line 19

The organization provides governing documents, policies and financial statements to the public upon request.

Filing and Contact Details

Filer

Filer Name
Arts Business Collaborative Inc
EIN
83-2173068
Phone
9172730209
Address
31-00 47TH AVENUE SUITE 3100, LONG ISLAND CITY, NY 11101

Signing Officer

Name
Katlyn Bloomfield
Title
CEO
Phone
7813756968
Signed
2021-12-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Katlyn Bloomfield
Formed
2018
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
6
Employees
6
Volunteers
0

Preparer

Firm
Mspc Cpas & Advisors Pc
Address
340 NORTH AVENUE EAST, CRANFORD, NJ 07016-2496
Preparer
Jon S Gagliardi
Phone
9082727000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Scholarship fees: program service expenses 0. Management and general expenses 0. Fundraising expenses 63,000. Total expenses 63,000. Sponsorship fees: program service expenses 0. Management and general expenses 0. Fundraising expenses 457,110. Total expenses 457,110. Stripe fees: program service expenses 133,098. Management and general expenses 0. Fundraising expenses 0. Total expenses 133,098.

Form 990, Part XII, Line 2C

The organization has an executive board that assumes responsibility for the oversight of the audit and the selection of independent accountants. The process has not changed from previous years.

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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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IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt097441
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KAT BLOOMFIELD
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt097441
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0TATUM TURNER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt023400
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CONSULTING COMPENSATION
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0A BOARD MEMBER, AND CONSULTANT OF THE PLAN AND RECEIVED COMPENSATION OF $23,400 DURING THE YEAR.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART IV, LINE 1
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECEIVES DONATIONS PRIMARILY TO FUND ONE OR MORE SOCIAL PROJECTS THAT PROVIDE SMALL TO MID-SIZED ORGANIZATIONS ACROSS THE NATION WITH PROGRAM DEVELOPMENT, PROGRAM EVALUATION, BOARD DEVELOPMENT FOR RACIAL EQUITY, FUNDRAISING, AND COMMUNITY ORGANIZING. THESE PROJECTS CONTRIBUTE TO PROGRESSIVE AND RADICAL PUBLIC POLICIES THAT ADDRESS THE ENDURING SYSTEMS OF INEQUALITIES THAT HAVE IMPACTED MINORITY COMMUNITIES, WITH A FOCUS ON KEY STAKEHOLDERS IN THE CULTURAL ARTS INCLUDING ARTISTS, BUSINESS OWNERS, AND NOT FOR PROFIT ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM, ENGAGED BY THE GOVERNING BODY, IN WHICH A DRAFT COPY OF THE FORM 990 IS ROUTED TO THE GOVERNING BODY FOR REVIEW AND COMMENT PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR THE CEO OF THE ORGANIZATION IS REVIEWED AND APPROVED BY THE GOVERNING BODY WITH AUTHORITY TO ACT ON BEHALF OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS AVAILABLE UPON REQUEST FOR A PERIOD OF THREE YEARS FROM THE DUE DATE OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION PROVIDES GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SCHOLARSHIP FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 63,000. TOTAL EXPENSES 63,000. SPONSORSHIP FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 457,110. TOTAL EXPENSES 457,110. STRIPE FEES: PROGRAM SERVICE EXPENSES 133,098. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 133,098.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION HAS AN EXECUTIVE BOARD THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT AND THE SELECTION OF INDEPENDENT ACCOUNTANTS. THE PROCESS HAS NOT CHANGED FROM PREVIOUS YEARS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt08437
IRS990/TotalAssetsEOYAmt07017438
IRS990/TotalAssetsGrp/BOYAmt08437
IRS990/TotalAssetsGrp/EOYAmt07017438
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt09584460
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0546610
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0238052
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02421867
IRS990/TotalFunctionalExpensesGrp/TotalAmt03206529
IRS990/TotalGrossUBIAmt0151
IRS990/TotalLiabilitiesBOYAmt01018
IRS990/TotalLiabilitiesEOYAmt053005
IRS990/TotalLiabilitiesGrp/BOYAmt01018
IRS990/TotalLiabilitiesGrp/EOYAmt053005
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt07419
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt06964433
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02421867
IRS990/TotalProgramServiceRevenueAmt0578932
IRS990/TotalReportableCompFromOrgAmt097441
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0578932
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt010163543
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0151
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08437
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt07017438
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt010583
IRS990/TravelGrp/TotalAmt010583
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt09900
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 296
IRS990/USAddress/CityNm0ELMHURST
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd011380
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KATLYN BLOOMFIELD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO
ReturnHeader/BusinessOfficerGrp/PhoneNum07813756968
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-12-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARTS BUSINESS COLLABORATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0ARTS
ReturnHeader/Filer/EIN0832173068
ReturnHeader/Filer/PhoneNum09172730209
ReturnHeader/Filer/USAddress/AddressLine1Txt031-00 47TH AVENUE SUITE 3100
ReturnHeader/Filer/USAddress/CityNm0LONG ISLAND CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd011101
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0222951202
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MSPC CPAS & ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0340 NORTH AVENUE EAST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CRANFORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0070162496
ReturnHeader/PreparerPersonGrp/PhoneNum09082727000
ReturnHeader/PreparerPersonGrp/PreparationDt02021-12-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JON S GAGLIARDI
ReturnHeader/ReturnTs02021-12-03T14:44:04-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KATLYN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BLOOMFIELD
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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