Civic Intelligence

IX Art Park Foundation

990 • Fiscal year 2020 • EIN 83-3099795

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 29, 2021

201 East Main Street Suite OCharlottesville, VA 22902

(434) 249-3274

Siviq Scores

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

Liabilities / Assets

94th percentile

1.07x

Higher debt load relative to assets than 94% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

92nd percentile

0.61x

Higher debt load relative to revenue than 92% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

27th percentile

-12%

Higher net margin than 27% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

83rd percentile

$17,309

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 4.2% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

87th percentile

92%

Faster asset growth than 87% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

40th percentile

-25%

Faster revenue growth than 40% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$239,511

Up $115,076 (+92%) from 2019

Net Assets

Down

-$15,714

Down $50,232 (-146%) from 2019

Liabilities

Up

$255,225

Up $165,308 (+184%) from 2019

Revenue

Down

$415,494

Down $140,096 (-25%) from 2019

Expenses

Down

$465,726

Down $55,346 (-11%) from 2019

Net Income

Down

-$50,232

Down $84,750 (-246%) from 2019

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KAssets 2019: $124,435Liabilities 2019: $89,917Net Assets 2019: $34,5182019Assets 2020: $239,511Liabilities 2020: $255,225Net Assets 2020: -$15,7142020Assets 2021: $1,584,697Liabilities 2021: $253,776Net Assets 2021: $1,330,9212021Assets 2022: $1,428,160Liabilities 2022: $154,650Net Assets 2022: $1,273,5102022Assets 2023: $1,355,397Liabilities 2023: $147,330Net Assets 2023: $1,208,0672023Assets 2024: $1,240,404Liabilities 2024: $152,020Net Assets 2024: $1,088,3842024

Highlighted filing

2020

Assets$239,511
Liabilities$255,225
Net Assets-$15,714

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2019: $555,590Expenses 2019: $521,072Net Income 2019: $34,5182019Revenue 2020: $415,494Expenses 2020: $465,726Net Income 2020: -$50,2322020Revenue 2021: $2,051,905Expenses 2021: $705,270Net Income 2021: $1,346,6352021Revenue 2022: $874,073Expenses 2022: $931,484Net Income 2022: -$57,4112022Revenue 2023: $802,069Expenses 2023: $853,649Net Income 2023: -$51,5802023Revenue 2024: $544,894Expenses 2024: $494,848Net Income 2024: $50,0462024

Highlighted filing

2020

Revenue$415,494
Expenses$465,726
Net Income-$50,232
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 29, 2021
Return Version
2020v4.0
Gross Receipts
$415,494
Mission and Program Overview

Mission

To help build healthy communities by providing accessible artistic experiences that spark creativity and inspiration in people's everyday lives.

Ix art park foundation's mission is "sparking creativity and inspiration in people's everyday lives." we provide accessible art and culture on our grounds and in our programming for residents and visitors, old and young, rich and poor, regardless of race, ethnicity or persuasion. We aim to gather and celebrate our diverse community. We believe cultural interaction creates behavioral awareness. Wtihin an infrastructure of immersive visual art, we create arts education platforms and prgram multi- culture, multi-generational performance events with local and regional partners. The ix art park sits in the middle of the city of charlottesville's strategic investment area ("sia"), a neighborhood located in an opportunity fund zone that primarily consists of public housing projects. The art park helps to achieve the sia's goal to create a sense of place and improve the quality of life by providing opportunity to experience art, in all its forms, thereby creating a healthy neighborhood.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$61,049$138,438▲ $77,389
Land, Buildings, and Equipment, Net$46,479$65,401▲ $18,922
Loans From Officers Directors$53,278$53,278→ $0
Inventories for Sale or Use$5,278$17,874▲ $12,596
Accounts Receivable$11,620$6,353▼ $5,267
Total Assets$124,435$239,511▲ $115,076
Other Assets Total$9$11,445▲ $11,436
Liabilities
Other Liabilities$36,639$201,947▲ $165,308
Total Liabilities$89,917$255,225▲ $165,308
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$34,518$-15,714▼ $50,232
Total Net Assets Fund Balance$34,518$-15,714▼ $50,232
Total Liabilities and Net Assets / Fund Balance$124,435$239,511▲ $115,076

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$65,401$15,155$80,556
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Susan KrischelPresidentFT$17,309$17,309

Board Members and Trustees

NameTitle
Anne HunterMember
David GiesMember
Nathan MooreSecretary
Dwight SparlinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$173,346
Program Service Revenue
$232,148
Investment Income
$0
Other Revenue
$10,000
All Other Contributions
$110,082
Change in Net Assets
$-50,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$247,628
Salaries, Compensation, and Employee Benefits$218,098
Total Fundraising Expense$17,448
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$165,841$18,650$16,043$200,534
Occupancy$90,418--$90,418
Other Expenses$18,092--$18,092
Payroll Taxes$14,526$1,633$1,405$17,564
All Other Expenses$12,191--$12,191
Depreciation Depletion$9,719--$9,719
Fees for Services Other$9,167--$9,167
Fees for Services Accounting$8,642--$8,642
Insurance$7,522--$7,522
Advertising$6,197--$6,197
Office Expenses-$5,146-$5,146
Fees for Services Legal$563--$563
Total Functional Expenses$422,849$25,429$17,448$465,726
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$53,278$53,278→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Eidl Loan$149,900
Ppp Loan$43,500
Security Deposits$6,854
Square Tips$1,845
Federal Unemployment$-9
Sales Tax Payable$-143
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
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

Board members are provided a copy of the form 990 to review prior to filing.

Form 990, Page 6, Part VI, Line 12C

Any potential conflicts of interest are discussed by members of the board of directors.

Form 990, Page 6, Part VI, Line 19

Annual form 990, form 1023, and conflict of interest policy are made available upon request.

Filing and Contact Details

Filer

Filer Name
Ix Art Park Foundation
EIN
83-3099795
Phone
4342493274
Address
201 EAST MAIN STREET SUITE O, CHARLOTTESVILLE, VA 22902

Signing Officer

Name
Susan Krischel
Title
President
Phone
4342493274
Signed
2021-10-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Krischel
Formed
2019
Legal Domicile
Va
Voting Board Members
5
Independent Board Members
4
Employees
18
Volunteers
3

Preparer

Firm
Robinson Farmer Cox Associates
Address
530 WESTFIELD RD, CHARLOTTESVILLE, VA 22901-1726
Preparer
Michael E Lupton
Phone
4349738314
Supplemental Narrative

Additional Explanations

Form 990

Impact of covid-19: covid-19 provided a multitude of complications due to shuttered indoor venues, reduced performances, limited attendance, and enforcement of mask wearing and social distancing. All of these issues dramatically affected the 2020 bottom line. However, we have used this period to strengthen our organization internally and we expect to come out stronger in 2021.

Form 990, Page 2, Part III, Line 4A

Community and diversity - the ix art park was specifically formed to bring new energy to an underserved and largely minority neighborhood. Multi- cultural and multi-racial programming has become a keystone to our identity, allowing us to produce more diverse programming than any other arts organization in town. For example, we book an array of black talent in r&b, go go, reggae, and hiphop. We host an annual black business expo to showcase minority owned businesses. We boast a strong latin american following through our a) bi-weekly salsa and bachata dances, b) cville sabrosso, our annual folk festival celebrating food, dance, and music from a dozen of latin american countries, and c) dia de los muertos, a tribute to the day of the dead allowing people to pay tribute to their passed loved ones. We program events for the lgbtqia community, including a) activities celebrating pride fest, b) drag shows, c) a quarterly women's only dance, and d) a transgender comedy show. We host zaltandi, an annual dance festival that showcases dance styles from around the world, and positive kulture, a food festival from local chefs services dishes from a dozen countries. Music and performances - the ix art park hosts over 200 events each year spanning many genres of music, dance, film, theater, crafts and visual arts, as well as family friendly festivals, wellness-oriented events, and events promoting diversity and inclusion. The majority of our events are either free to the public or offered at affordable prices (typically 5 to 15 per ticket). This allows people from diverse socioeconomic backgrounds to participate in our artistic programming. Business, commerce, and the arts economy - our measured impact on the local economy has been dramatic. Since 2014, we have brought thousands of people to the park to view the art and attend events. Public destination tenants have also flocked to the property, including 4 restaurants/breweries, a fitness studio, a co-worker space, a coffeeshop, a mom and pop pet store, and a 700 member non-denominational church. During this same time, real estate taxes for the property increased over 500%. We have also won many awards, including "best place to be creative", "best kids park, "inspirational creative space, and " best gallery". In 2019, the ix art park began building the looking glass, virginia's only permanent, immersive, interactive art space - a 3,000 sq ft enchanted forest built by 13 local, commissioned artists. The looking glass, which opened in january 2020, is aimed at virginia's vibrant tourism industry.

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IRS990/ActivityOrMissionDesc0IX ART PARK FOUNDATION'S MISSION IS "SPARKING CREATIVITY AND INSPIRATION IN PEOPLE'S EVERYDAY LIVES." WE PROVIDE ACCESSIBLE ART AND CULTURE ON OUR GROUNDS AND IN OUR PROGRAMMING FOR RESIDENTS AND VISITORS, OLD AND YOUNG, RICH AND POOR, REGARDLESS OF RACE, ETHNICITY OR PERSUASION. WE AIM TO GATHER AND CELEBRATE OUR DIVERSE COMMUNITY. WE BELIEVE CULTURAL INTERACTION CREATES BEHAVIORAL AWARENESS. WTIHIN AN INFRASTRUCTURE OF IMMERSIVE VISUAL ART, WE CREATE ARTS EDUCATION PLATFORMS AND PRGRAM MULTI- CULTURE, MULTI-GENERATIONAL PERFORMANCE EVENTS WITH LOCAL AND REGIONAL PARTNERS. THE IX ART PARK SITS IN THE MIDDLE OF THE CITY OF CHARLOTTESVILLE'S STRATEGIC INVESTMENT AREA ("SIA"), A NEIGHBORHOOD LOCATED IN AN OPPORTUNITY FUND ZONE THAT PRIMARILY CONSISTS OF PUBLIC HOUSING PROJECTS. THE ART PARK HELPS TO ACHIEVE THE SIA'S GOAL TO CREATE A SENSE OF PLACE AND IMPROVE THE QUALITY OF LIFE BY PROVIDING OPPORTUNITY TO EXPERIENCE ART, IN ALL ITS FORMS, THEREBY CREATING A HEALTHY NEIGHBORHOOD.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IMPACT OF COVID-19: COVID-19 PROVIDED A MULTITUDE OF COMPLICATIONS DUE TO SHUTTERED INDOOR VENUES, REDUCED PERFORMANCES, LIMITED ATTENDANCE, AND ENFORCEMENT OF MASK WEARING AND SOCIAL DISTANCING. ALL OF THESE ISSUES DRAMATICALLY AFFECTED THE 2020 BOTTOM LINE. HOWEVER, WE HAVE USED THIS PERIOD TO STRENGTHEN OUR ORGANIZATION INTERNALLY AND WE EXPECT TO COME OUT STRONGER IN 2021.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMMUNITY AND DIVERSITY - THE IX ART PARK WAS SPECIFICALLY FORMED TO BRING NEW ENERGY TO AN UNDERSERVED AND LARGELY MINORITY NEIGHBORHOOD. MULTI- CULTURAL AND MULTI-RACIAL PROGRAMMING HAS BECOME A KEYSTONE TO OUR IDENTITY, ALLOWING US TO PRODUCE MORE DIVERSE PROGRAMMING THAN ANY OTHER ARTS ORGANIZATION IN TOWN. FOR EXAMPLE, WE BOOK AN ARRAY OF BLACK TALENT IN R&B, GO GO, REGGAE, AND HIPHOP. WE HOST AN ANNUAL BLACK BUSINESS EXPO TO SHOWCASE MINORITY OWNED BUSINESSES. WE BOAST A STRONG LATIN AMERICAN FOLLOWING THROUGH OUR A) BI-WEEKLY SALSA AND BACHATA DANCES, B) CVILLE SABROSSO, OUR ANNUAL FOLK FESTIVAL CELEBRATING FOOD, DANCE, AND MUSIC FROM A DOZEN OF LATIN AMERICAN COUNTRIES, AND C) DIA DE LOS MUERTOS, A TRIBUTE TO THE DAY OF THE DEAD ALLOWING PEOPLE TO PAY TRIBUTE TO THEIR PASSED LOVED ONES. WE PROGRAM EVENTS FOR THE LGBTQIA COMMUNITY, INCLUDING A) ACTIVITIES CELEBRATING PRIDE FEST, B) DRAG SHOWS, C) A QUARTERLY WOMEN'S ONLY DANCE, AND D) A TRANSGENDER COMEDY SHOW. WE HOST ZALTANDI, AN ANNUAL DANCE FESTIVAL THAT SHOWCASES DANCE STYLES FROM AROUND THE WORLD, AND POSITIVE KULTURE, A FOOD FESTIVAL FROM LOCAL CHEFS SERVICES DISHES FROM A DOZEN COUNTRIES. MUSIC AND PERFORMANCES - THE IX ART PARK HOSTS OVER 200 EVENTS EACH YEAR SPANNING MANY GENRES OF MUSIC, DANCE, FILM, THEATER, CRAFTS AND VISUAL ARTS, AS WELL AS FAMILY FRIENDLY FESTIVALS, WELLNESS-ORIENTED EVENTS, AND EVENTS PROMOTING DIVERSITY AND INCLUSION. THE MAJORITY OF OUR EVENTS ARE EITHER FREE TO THE PUBLIC OR OFFERED AT AFFORDABLE PRICES (TYPICALLY 5 TO 15 PER TICKET). THIS ALLOWS PEOPLE FROM DIVERSE SOCIOECONOMIC BACKGROUNDS TO PARTICIPATE IN OUR ARTISTIC PROGRAMMING. BUSINESS, COMMERCE, AND THE ARTS ECONOMY - OUR MEASURED IMPACT ON THE LOCAL ECONOMY HAS BEEN DRAMATIC. SINCE 2014, WE HAVE BROUGHT THOUSANDS OF PEOPLE TO THE PARK TO VIEW THE ART AND ATTEND EVENTS. PUBLIC DESTINATION TENANTS HAVE ALSO FLOCKED TO THE PROPERTY, INCLUDING 4 RESTAURANTS/BREWERIES, A FITNESS STUDIO, A CO-WORKER SPACE, A COFFEESHOP, A MOM AND POP PET STORE, AND A 700 MEMBER NON-DENOMINATIONAL CHURCH. DURING THIS SAME TIME, REAL ESTATE TAXES FOR THE PROPERTY INCREASED OVER 500%. WE HAVE ALSO WON MANY AWARDS, INCLUDING "BEST PLACE TO BE CREATIVE", "BEST KIDS PARK, "INSPIRATIONAL CREATIVE SPACE, AND " BEST GALLERY". IN 2019, THE IX ART PARK BEGAN BUILDING THE LOOKING GLASS, VIRGINIA'S ONLY PERMANENT, IMMERSIVE, INTERACTIVE ART SPACE - A 3,000 SQ FT ENCHANTED FOREST BUILT BY 13 LOCAL, COMMISSIONED ARTISTS. THE LOOKING GLASS, WHICH OPENED IN JANUARY 2020, IS AIMED AT VIRGINIA'S VIBRANT TOURISM INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS ARE PROVIDED A COPY OF THE FORM 990 TO REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANY POTENTIAL CONFLICTS OF INTEREST ARE DISCUSSED BY MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ANNUAL FORM 990, FORM 1023, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST.
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