Civic Intelligence

Colorado Springs Fine Arts Center

EIN 84-0406947 • 501(c)3 • Colorado Springs, CO

View Organization Page

Profile

To provide innovative, educational and multidisciplinary arts experiences, building upon our history as a unique cultural pillar of the rocky mountain region.

Refreshing map…

10 Lake CircleColorado Springs, CO 80906

www.csfineartscenter.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

5th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $10M-$25M nonprofits • Source year 2018

Liabilities / Revenue

7th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $10M-$25M nonprofits • Source year 2018

Net Margin

78th percentile

26%

Higher net margin than 78% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Source year 2018

Top Officer Pay

15th percentile

$0

Higher top officer pay than 15% of similar nonprofits.

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

501(c)3 • $10M-$25M nonprofits • Source year 2018

Asset Growth

26th percentile

-2.1%

Faster asset growth than 26% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-93%

Faster revenue growth than 1% of similar nonprofits.

501(c)3 • $10M-$25M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets5th percentile

Assets

Down

$19,665,130

Down $421,231 (-2.1%) from 2017

Liabilities

Down

$0

Down $511,736 (-100%) from 2017

Net Assets

Up

$19,665,130

Up $90,505 (+0.5%) from 2017

Operations
Liabilities / Revenue7th percentileNet Margin78th percentile

Revenue

Down

$346,440

Down $4,686,812 (-93%) from 2017

Expenses

Down

$255,935

Down $6,541,290 (-96%) from 2017

Net Income

Up

$90,505

Up $1,854,478 (+105%) from 2017

Trend Graphs

Balance Sheet Trend

Asset Growth26th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$60M$40M$20M$0Assets 2010: $40,622,830Liabilities 2010: $14,623,877Net Assets 2010: $25,998,9532010Assets 2011: $37,450,799Liabilities 2011: $13,956,938Net Assets 2011: $23,493,8612011Assets 2012: $35,464,556Liabilities 2012: $13,442,757Net Assets 2012: $22,021,7992012Assets 2013: $33,526,505Liabilities 2013: $11,840,177Net Assets 2013: $21,686,3282013Assets 2014: $31,785,729Liabilities 2014: $10,675,906Net Assets 2014: $21,109,8232014Assets 2015: $28,891,842Liabilities 2015: $9,819,000Net Assets 2015: $19,072,8422015Assets 2016: $27,406,566Liabilities 2016: $8,187,376Net Assets 2016: $19,219,1902016Assets 2017: $20,086,361Liabilities 2017: $511,736Net Assets 2017: $19,574,6252017Assets 2018: $19,665,130Liabilities 2018: $0Net Assets 2018: $19,665,1302018

Highlighted filing

2018

Assets$19,665,130
Liabilities$0
Net Assets$19,665,130
Open 2018 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $6,474,6492010Expenses 2011: $6,886,0352011Expenses 2012: $6,366,0132012Expenses 2013: $6,057,5362013Revenue 2014: $4,065,188Expenses 2014: $5,380,231Net Income 2014: -$1,315,0432014Revenue 2015: $5,006,239Expenses 2015: $6,676,807Net Income 2015: -$1,670,5682015Revenue 2016: $6,481,376Expenses 2016: $6,567,686Net Income 2016: -$86,3102016Revenue 2017: $5,033,252Expenses 2017: $6,797,225Net Income 2017: -$1,763,9732017Revenue 2018: $346,440Expenses 2018: $255,935Net Income 2018: $90,5052018

Highlighted filing

2018

Revenue$346,440
Expenses$255,935
Net Income$90,505
Open 2018 Filing

Filings

Most recent year

2018 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$19,665,130
Liabilities
$0
Net assets
$19,665,130
Revenue
$346,440
Expenses
$255,935
Net income
$90,505
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$0.00$19.7$0.35$0.26$0.09
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.1$0.51$19.6$5.03$6.80$1.76
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.4$8.19$19.2$6.48$6.57$0.09
2015Detailed filing. Detailed filing data is available for this year.$28.9$9.82$19.1$5.01$6.68$1.67
2014Detailed filing. Detailed filing data is available for this year.$31.8$10.7$21.1$4.07$5.38$1.32
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.5$11.8$21.7$6.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.5$13.4$22.0$6.37
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$37.5$14.0$23.5$6.89
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.6$14.6$26.0$6.47
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2017 to Aug 31, 2018
Signed
Jun 30, 2019
Return Version
2017v2.3
Gross Receipts
$457,855
Mission and Program Overview

Mission

To provide innovative, educational and multidisciplinary arts experiences, building upon our history as a unique cultural pillar of the rocky mountain region.

elevating the individual spirit and inspiring community vitality through the performing and visual arts and arts education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$19,754,281$19,642,866▼ $111,415
Pledges and Grants Receivable$139,282$0▼ $139,282
Prepaid Expenses and Deferred Charges$79,113$0▼ $79,113
Inventories for Sale or Use$32,648$0▼ $32,648
Accounts Receivable$25,037$0▼ $25,037
Cash and Non-Interest-Bearing Accounts$56,000$22,264▼ $33,736
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$20,086,361$19,665,130▼ $421,231
Other Assets Total$0$0→ $0
Liabilities
Deferred Revenue$457,855$0▼ $457,855
Accounts Payable and Accrued Expenses$53,881$0▼ $53,881
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$511,736$0▼ $511,736
Net Assets / Fund Balance
Unrestricted Net Assets$19,282,831$19,665,130▲ $382,299
Temporarily Rstr Net Assets$188,630$0▼ $188,630
Permanently Rstr Net Assets$103,164$0▼ $103,164
Total Net Assets Fund Balance$19,574,625$19,665,130▲ $90,505
Total Liabilities and Net Assets / Fund Balance$20,086,361$19,665,130▼ $421,231

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,474,253$7,968$0
Other Land Buildings$854,135$31,621$0
Equipment$570,612$21,125$0
Leasehold Improvements$15,743,866$50,701$0
Compensation and Service Providers
Top Officer Pay15th percentile

Board Members and Trustees

NameTitle
R Thayer Tutt JrPresident
David KunstleVice Chair
Cathy HoladayBoard Member
Jay KlosterBoard Member
Kathy LooBoard Member
Nechie HallBoard Member
Trent StaffordBoard Member
Connie M RickardAssistant Secretary
Ron BraschSecretary
Marvin StraitTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$457,855
Investment Income
$0
Other Revenue
$-111,415
Change in Net Assets
$90,505
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$255,935
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
Other Expenses$255,935$0$0$255,935
Total Functional Expenses$255,935$0$0$255,935
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990 part VI line 11

“Prior to filing, a draft of Form 990 is first reviewed by the Board of Trustees' Finance Committee in detail. After any needed changes are made, the Form 990 is made available for the entire Board of Trustees prior to filing.”

Form 990 part VI section B line 12C

“The Fine Arts Center regularly and consistently monitors and enforces compliance with the Conflict of Interest policy. Each Board of Trustee member is required to sign the Conflict of Interest Policy annually. The Board of Trustees' Executive Committee reviews annually this policy to ensure compliance.”

Form 990 part VI section C line 19

“The governing documents, Conflict of Interest policy, and Form 990 are available upon request and on the website of others, such as Guidestar.”

Filing and Contact Details

Filer

Filer Name
Colorado Springs Fine Arts Center
EIN
84-0406947
In Care Of
% CS FINE ARTS CENTER
Phone
7194774323
Address
10 Lake Circle, Colorado Springs, CO 80906

Signing Officer

Name
R Thayer Tutt Jr
Title
President
Phone
7194774323
Signed
2019-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
R Thayer Tutt Jr
Formed
1919
Legal Domicile
Co
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Stockman Kast Ryan & Co Llp
Address
102 N CASCADE AVENUE SUITE 400, COLORADO SPRINGS, CO 80903
Preparer
Doreen B Merz
Phone
7196301186
Supplemental Narrative

Additional Explanations

Form 990 part III line 3

“On July 1, 2017 the Fine Arts Center (FAC) entered into a Bill of Sale agreement with Colorado College (CC) and Dale Street Properties, LLC (DSP). The agreement provides the transfer of all inventory held for consumption, various vendor agreements and Small Endowment Funds to DSP.”

Financial Statement Notes

Schedule D Part III Line 1A

“In conformity with the practice followed by many museums, art objects purchased and donated are not recognized as assets in the accompanying balance sheet. The Fine Arts Center's art objects are held for educational, research and curatorial purposes. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. It is the policy of the Fine Arts Center's management that proceeds from the sale of any collection items be used for the purchase of additional collection items or the conservation of existing collections in accordance with recommendations promulgated by the American Alliance of Museums. In the tax year ended August 31, 2018, the Fine Arts Center did not purchase any additional works of art. In addition, the Fine Arts Center did not receive any donated works of art during the tax year ended August 31, 2018.”

Schedule D Part III Line 4

“The museum displays, cares for, and perserves Hispanic, Native American, and American art and related items.”

Schedule D Part V Line 1E

“During the tax year ended August 31, 2018, the remaining amount of endownment funds in the amount of $103,529 were transfered to the Colorado College.”

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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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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0TO PROVIDE INNOVATIVE, EDUCATIONAL AND MULTIDISCIPLINARY ARTS EXPERIENCES, BUILDING UPON OUR HISTORY AS A UNIQUE CULTURAL PILLAR OF THE ROCKY MOUNTAIN REGION.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
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IRS990/OtherExpensesGrp/TotalAmt0255935
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IRS990/PayrollTaxesGrp/TotalAmt00
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IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0139282
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt079113
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0R Thayer Tutt Jr
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IRS990/ProgramServiceRevenueGrp/Desc0DEFERRED PROGRAM SERVICE REVENUE RECOGNIZED
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IRS990/RentalIncomeOrLossGrp/RealAmt0-58669
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03845351
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt02223103
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02383320
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt011781628
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt096608
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0141837
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0235016
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0220353
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt07238941
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0305150
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0877762
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0820491
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt0263279
IRS990ScheduleA/OtherIncome170Grp/TotalAmt02266682
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt07968
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IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
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IRS990ScheduleD/CollectionUsedPubExhibitionInd0X
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt021125
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0591737
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt00
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt050701
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt015794567
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0854135
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt031621
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt0885756
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/SolicitedAssetsSaleInd0false
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0In conformity with the practice followed by many museums, art objects purchased and donated are not recognized as assets in the accompanying balance sheet. The Fine Arts Center's art objects are held for educational, research and curatorial purposes. Purchases of collection items are recorded as decreases in unrestricted net assets in the year in which the items are acquired or as temporarily or permanently restricted net assets if the assets used to purchase the items are restricted by donors. Proceeds from deaccessions or insurance recoveries are reflected as increases in the appropriate net asset classes. It is the policy of the Fine Arts Center's management that proceeds from the sale of any collection items be used for the purchase of additional collection items or the conservation of existing collections in accordance with recommendations promulgated by the American Alliance of Museums. In the tax year ended August 31, 2018, the Fine Arts Center did not purchase any additional works of art. In addition, the Fine Arts Center did not receive any donated works of art during the tax year ended August 31, 2018.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The museum displays, cares for, and perserves Hispanic, Native American, and American art and related items.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2During the tax year ended August 31, 2018, the remaining amount of endownment funds in the amount of $103,529 were transfered to the Colorado College.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D Part III Line 1A
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D Part III Line 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D Part V Line 1E
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019642866
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0On July 1, 2017 the Fine Arts Center (FAC) entered into a Bill of Sale agreement with Colorado College (CC) and Dale Street Properties, LLC (DSP). The agreement provides the transfer of all inventory held for consumption, various vendor agreements and Small Endowment Funds to DSP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Prior to filing, a draft of Form 990 is first reviewed by the Board of Trustees' Finance Committee in detail. After any needed changes are made, the Form 990 is made available for the entire Board of Trustees prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Fine Arts Center regularly and consistently monitors and enforces compliance with the Conflict of Interest policy. Each Board of Trustee member is required to sign the Conflict of Interest Policy annually. The Board of Trustees' Executive Committee reviews annually this policy to ensure compliance.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing documents, Conflict of Interest policy, and Form 990 are available upon request and on the website of others, such as Guidestar.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 part III line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 part VI section b line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990 part VI section C line 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd1true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0See Part VII

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