Civic Intelligence

Art Students League of Denver

EIN 84-1042289 • 501(c)3 • Denver, CO

Profile

The Art Students League of Denver (ASLD) is a non-accredited, not-for-profit, membership based fine arts education community. ASLD provides an inclusive art community where professional artists guide individuals of all abilities to reach their highest potential.

200 Grant StreetDenver, CO 80203

www.asld.org

Siviq Scores

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

Liabilities / Assets

70th percentile

0.24x

Higher debt load relative to assets than 70% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

67th percentile

0.20x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

31st percentile

-3.3%

Higher net margin than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

87th percentile

$176,356

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 6.9% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

45th percentile

1.7%

Faster asset growth than 45% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

34th percentile

-1.1%

Faster revenue growth than 34% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$2,135,103

Up $35,342 (+1.7%) from 2024

Liabilities

Up

$513,619

Up $136,192 (+36%) from 2024

Net Assets

Down

$1,621,484

Down $100,850 (-5.9%) from 2024

Revenue

Down

$2,564,760

Down $29,400 (-1.1%) from 2024

Expenses

Down

$2,648,755

Down $57,686 (-2.1%) from 2024

Net Income

Up

-$83,995

Up $28,286 (+25%) from 2024

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $1,752,378Liabilities 2011: $146,273Net Assets 2011: $1,606,1052011Assets 2012: $1,714,266Liabilities 2012: $115,855Net Assets 2012: $1,598,4112012Assets 2013: $2,006,177Liabilities 2013: $427,728Net Assets 2013: $1,578,4492013Assets 2014: $2,033,789Liabilities 2014: $429,535Net Assets 2014: $1,604,2542014Assets 2015: $1,944,606Liabilities 2015: $499,001Net Assets 2015: $1,445,6052015Assets 2016: $1,905,658Liabilities 2016: $466,639Net Assets 2016: $1,439,0192016Assets 2017: $1,890,567Liabilities 2017: $507,516Net Assets 2017: $1,383,0512017Assets 2018: $1,905,304Liabilities 2018: $480,407Net Assets 2018: $1,424,8972018Assets 2019: $1,948,200Liabilities 2019: $466,568Net Assets 2019: $1,481,6322019Assets 2020: $2,122,860Liabilities 2020: $721,145Net Assets 2020: $1,401,7152020Assets 2021: $2,398,361Liabilities 2021: $751,322Net Assets 2021: $1,647,0392021Assets 2022: $2,150,049Liabilities 2022: $417,331Net Assets 2022: $1,732,7182022Assets 2023: $2,231,084Liabilities 2023: $404,600Net Assets 2023: $1,826,4842023Assets 2024: $2,099,761Liabilities 2024: $377,427Net Assets 2024: $1,722,3342024Assets 2025: $2,135,103Liabilities 2025: $513,619Net Assets 2025: $1,621,4842025

Highlighted filing

2025

Assets$2,135,103
Liabilities$513,619
Net Assets$1,621,484

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,402,021Expenses 2011: $1,435,757Net Income 2011: -$33,7362011Revenue 2012: $1,424,539Expenses 2012: $1,426,364Net Income 2012: -$1,8252012Expenses 2013: $1,531,2522013Revenue 2014: $1,683,108Expenses 2014: $1,657,303Net Income 2014: $25,8052014Revenue 2015: $1,615,831Expenses 2015: $1,774,480Net Income 2015: -$158,6492015Revenue 2016: $1,690,884Expenses 2016: $1,694,077Net Income 2016: -$3,1932016Revenue 2017: $1,649,669Expenses 2017: $1,722,556Net Income 2017: -$72,8872017Revenue 2018: $1,826,123Expenses 2018: $1,796,745Net Income 2018: $29,3782018Revenue 2019: $1,954,312Expenses 2019: $1,901,496Net Income 2019: $52,8162019Revenue 2020: $1,452,588Expenses 2020: $1,533,632Net Income 2020: -$81,0442020Revenue 2021: $1,673,352Expenses 2021: $1,481,632Net Income 2021: $191,7202021Revenue 2022: $2,289,374Expenses 2022: $2,175,956Net Income 2022: $113,4182022Revenue 2023: $2,522,015Expenses 2023: $2,443,826Net Income 2023: $78,1892023Revenue 2024: $2,594,160Expenses 2024: $2,706,441Net Income 2024: -$112,2812024Revenue 2025: $2,564,760Expenses 2025: $2,648,755Net Income 2025: -$83,9952025

Highlighted filing

2025

Revenue$2,564,760
Expenses$2,648,755
Net Income-$83,995

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.14$0.51$1.62$2.56$2.65$0.08
2024Summary only. Only limited summary data is available for this year.$2.10$0.38$1.72$2.59$2.71$0.11
2023Summary only. Only limited summary data is available for this year.$2.23$0.40$1.83$2.52$2.44$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.15$0.42$1.73$2.29$2.18$0.11
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.40$0.75$1.65$1.67$1.48$0.19
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.12$0.72$1.40$1.45$1.53$0.08
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.95$0.47$1.48$1.95$1.90$0.05
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.48$1.42$1.83$1.80$0.03
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.89$0.51$1.38$1.65$1.72$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.91$0.47$1.44$1.69$1.69$0.00
2015Detailed filing. Detailed filing data is available for this year.$1.94$0.50$1.45$1.62$1.77$0.16
2014Detailed filing. Detailed filing data is available for this year.$2.03$0.43$1.60$1.68$1.66$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.01$0.43$1.58$1.53
2012Summary only. Only limited summary data is available for this year.$1.71$0.12$1.60$1.42$1.43$0.00
2011Summary only. Only limited summary data is available for this year.$1.75$0.15$1.61$1.40$1.44$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Sep 1, 2024 to Aug 31, 2025
Signed
Dec 15, 2025
Return Version
2024v5.0
Gross Receipts
$2,575,602
Mission and Program Overview

Mission

The Art Students League of Denver (ASLD) is a non-accredited, not-for-profit, membership based fine arts education community. ASLD provides an inclusive art community where professional artists guide individuals of all abilities to reach their highest potential.

The art students league of denver empowers people to experience the joy of art in their own way.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$1,005,844$1,088,515▲ $82,671
Land, Buildings, and Equipment, Net$732,547$680,842▼ $51,705
Pledges and Grants Receivable$69,300$21,000▼ $48,300
Prepaid Expenses and Deferred Charges$1,463$5,511▲ $4,048
Total Assets$2,099,761$2,135,103▲ $35,342
Other Assets Total$290,607$339,235▲ $48,628
Liabilities
Accounts Payable and Accrued Expenses$114,229$214,078▲ $99,849
Deferred Revenue$119,013$159,157▲ $40,144
Other Liabilities$144,185$140,384▼ $3,801
Total Liabilities$377,427$513,619▲ $136,192
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,483,660$1,423,151▼ $60,509
Net Assets With Donor Restrictions$238,674$198,333▼ $40,341
Total Net Assets Fund Balance$1,722,334$1,621,484▼ $100,850
Total Liabilities and Net Assets / Fund Balance$2,099,761$2,135,103▲ $35,342

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$559,216$645,968$1,205,184
Equipment$131,470$49,661$181,131
Other Land Buildings$-24,338$55,321$30,983
Land$14,494-$14,494
Other Assets Org$101,511--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$92,783$105,829▲ $4,143-$202,755
2023$71,025$15,500▲ $6,258-$92,783
2022$60,487$7,575▲ $2,693-$71,025
2021$41,168$26,780▼ $7,461-$60,487
2020-$36,935▲ $4,233-$41,168
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rachel BasyeExecutive DiFT$155,308$21,048$176,356
Rachel BasyeExecutive Director-$155,308$21,048$176,356

Board Members and Trustees

NameTitle
Geraldine KimPresident
Anna MillhollandDirector
Erica JacobsonDirector
Jinha ServaisDirector
Karla RainesDirector
Kenneth BrewerDirector
Meredith BadlerDirector
Neil HagenbrokDirector
Pam MclaughlinDirector
Ren CannonDirector
Tara GarlandDirector
Valerie Clover ClarkDirector
Katherine RooneyDirector/pas
Kate DavisSecretary
Grant SpannuthTreasurer
Keith BurgessVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$990,120
Program Service Revenue
$1,583,162
Investment Income
$-8,822
Other Revenue
$300
All Other Contributions
$554,382
Change in Net Assets
$-83,995

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,564,760
Revenue Not Reported on Form 990
$-16,855
Total Revenue per Audited Statements
$2,547,905
Total Revenue per Form 990
$2,564,760
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,728,591
Other Expenses$899,584
Total Fundraising Expense$143,860
Professional Fundraising Fees$20,580
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,094,886$169,297$52,637$1,316,820
Current Officers, Directors, Trustees, and Key Employees$81,980$54,653$45,544$182,177
Payroll Taxes$111,729$20,805$8,869$141,403
All Other Expenses$119,114-$11,818$130,932
Fees for Services Other$53,543$35,774$264$89,581
Travel$81,477--$81,477
Other Expenses$74,522$358$107$74,522
Other Employee Benefits$63,839$6,511$646$70,996
Occupancy$64,148$2,169$650$66,967
Information Technology$49,756$1,683$504$51,943
Interest$48,288$126$38$48,452
Depreciation Depletion$39,143$1,324$396$40,863
Office Expenses$29,742$359$824$30,925
Fees for Services Professional Fundraising--$20,580$20,580
Advertising$13,141$4,632-$17,773
Pension Plan Contributions$15,218$1,797$180$17,195
Total Functional Expenses$2,202,718$302,177$143,860$2,648,755

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,648,755
Total Expenses per Audited Statements$2,648,755
Total Expenses per Form 990$2,648,755
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$20,580
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Economic Injury Disaster Loan$140,384
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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
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 6

Asld offers various levels of membership. Membership benefits include newsletters, priority registration at member rates, free admission to certain events, free use of classroom studio space and certain other privileges.

Form 990, Page 6, Part VI, Line 8B

Asld committees do not have the authority to act on behalf of the board of directors. Accordingly, this question does not apply.

Form 990, Page 6, Part VI, Line 11B

A draft copy of the return is emailed to the finance committee for review, questions and comments. After the finance committee has completed their review, a draft copy of the return is emailed to the board of directors for review, questions and comments prior to filing.

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

Officers, directors and key employees are required to read the policy annually and complete a conflict of interest questionnaire. Disclosure of possible conflicts of interest are disclosed if/when the issue arises.

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

The executive director's compensation is determined after completion of a performance review by the executive committee to evaluate performance toward set objectives for the year. The executive committee also uses a local area employment compensation survey to determine comparable pay.

Form 990, Page 6, Part VI, Line 19

The art students league of denver makes its governing documents, conflict of interest policy and financial statements available to the public upon reasonable request.

Filing and Contact Details

Filer

Filer Name
Art Students League of Denver
EIN
84-1042289
Phone
3037786990
Address
200 GRANT STREET, DENVER, CO 80203

Signing Officer

Name
Rachel Basye
Title
Executive Director
Phone
3037786990
Signed
2025-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Basye
Formed
1986
Legal Domicile
Co
Voting Board Members
16
Independent Board Members
14
Employees
212
Volunteers
123

Preparer

Firm
Kundinger Corder & Montoya Pc
Address
475 LINCOLN STREET SUITE 200, DENVER, CO 80203
Preparer
Tiffany Knight
Phone
3035345953
Supplemental Narrative

Additional Explanations

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

Other programs: over the past few years, asld has pursued partnerships with a variety of community organizations to provide art experiences to individuals who may not otherwise have the opportunity. Some of these partnerships include the denver public library, where asld faculty artists teach hands-on art workshops in libraries to intergenerational audiences; jefferson county schools, where faculty teach art teachers studio techniques; and with a variety of other art organizations to offer joint programming. Revenue for these programs comes from a combination of grants and registration fees. Expenses include wages and supplies. Asld hosts a variety of exhibitions at our historic grant street building and in partnership with various creative spaces throughout the community. Representing the diversity of the thriving denver arts community, our exhibitions also provide an opportunity to examine current trends and purchase original fine art from faculty, students and celebrated artists from across the u.s. Each year, the visiting artist series brings several notable artists to asld to teach master classes, which supplement existing ongoing classes and workshops. This extraordinary opportunity allows students and artists from the community to work and learn from some of today's most significant working artists.

Form 990, Part XI, Line 9

RETURNED GRANT -38,463

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

RETURNED GRANT -38,463

Schedule D, Page 4, Part XIII

Asld entered into an agreement with rose community foundation on december 17, 2020 to establish an agency endowment fund within rose community foundation for the benefit of asld. Rose community foundation invests, reinvests, administers, and distributes all such assets. Distributions from the fund are made in accordance with the spending policy of 5% per year. Additionally, asld entered into an agreement with the denver foundation on july 18, 2025 to establish an agency endowment fund within the denver foundation for the benefit of asld. The denver foundation invests, reinvests, administers, and distributes all such assets. Distributions from the fund are made in accordance with the spending policy of 10% per year.

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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/Desc0ART COURSES: ASLD FOCUSES ON TEACHING THE FUNDAMENTALS OF THE VISUAL ARTS TO ANYONE INTERESTED IN STUDYING WITH NO REQUIREMENT OF BACKGROUND OR EXPERIENCE. THE TEACHING PHILOSOPHY IS THE ATELIER (MASTER/ APPRENTICE) METHOD. THE IMMERSION APPROACH PROVIDES STUDENTS THE OPPORTUNITY TO WORK SIDE BY SIDE WITH A MASTER ARTIST IN THE STUDIO. WHEN ASLD FIRST OPENED, IT EMPLOYED ONLY A HANDFUL OF ARTISTS WHO TAUGHT FEWER THAN 100 STUDENTS. CURRENTLY WE EMPLOY MORE THAN 100 PROFESSIONAL ARTISTS SERVING APPROXIMATELY 800 STUDENTS PER MONTH. WE OFFER MORE THAN 400 HANDS ON WORKSHOPS, CLASSES, LECTURES AND YOUTH COURSES.
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IRS990/ProgSrvcAccomActy2Grp/Desc0SUMMER ART MARKET: SUMMER ART MARKET (SAM) IS ASLD'S ANNUAL OUTDOOR STREET FAIR, HELD SINCE 1992. THE EVENT SHOWCASES ALMOST 300 LOCAL ARTISTS, ALL OF WHOM ARE PART OF THE ASLD COMMUNITY, AS FACULTY, STUDENTS AND MEMBERS. EACH YEAR, 10,000 PEOPLE ATTEND, COMPRISING A LOYAL BASE OF COLLECTORS, DONORS, SPONSORS AND MEMBERS OF THE PUBLIC. IT HAS WIDELY BEEN CALLED THE BEST ART MARKET IN ALL OF COLORADO. ASLD MAKES NO MONEY FROM THE SALE OF ART, BUT DOES RAISE FUNDS THROUGH BOOTH RENTAL FEES, AND FOOD AND BEVERAGE SALES AT THE EVENT. EXPENSES INCLUDE EVENT PLANNERS, LICENSES, ENTERTAINMENT, SUPPLIES, MARKETING, SECURITY, AND OTHER INFRASTRUCTURE FOR THE EVENT ITSELF.
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IRS990/ProgSrvcAccomActy3Grp/Desc0OTHER PROGRAMS: OVER THE PAST FEW YEARS, ASLD HAS PURSUED PARTNERSHIPS WITH A VARIETY OF COMMUNITY ORGANIZATIONS TO PROVIDE ART EXPERIENCES TO INDIVIDUALS WHO MAY NOT OTHERWISE HAVE THE OPPORTUNITY. SOME OF THESE PARTNERSHIPS INCLUDE THE DENVER PUBLIC LIBRARY, WHERE ASLD FACULTY ARTISTS TEACH HANDS-ON ART WORKSHOPS IN LIBRARIES TO INTERGENERATIONAL AUDIENCES; JEFFERSON COUNTY SCHOOLS, WHERE FACULTY TEACH ART TEACHERS STUDIO TECHNIQUES; AND WITH A VARIETY OF OTHER ART ORGANIZATIONS TO OFFER JOINT PROGRAMMING. REVENUE FOR THESE PROGRAMS COMES FROM A COMBINATION OF GRANTS AND REGISTRATION FEES. EXPENSES INCLUDE WAGES AND SUPPLIES. ASLD HOSTS A VARIETY OF EXHIBITIONS AT OUR HISTORIC GRANT STREET BUILDING AND IN PARTNERSHIP WITH VARIOUS CREATIVE SPACES THROUGHOUT THE COMMUNITY. REPRESENTING THE DIVERSITY OF THE THRIVING DENVER ARTS COMMUNITY, OUR EXHIBITIONS ALSO PROVIDE AN OPPORTUNITY TO EXAMINE CURRENT TRENDS AND PURCHASE ORIGINAL FINE ART FROM FACULTY, STUDENTS AND CELEBRATED ARTISTS FROM ACROSS THE U.S. EACH YEAR, THE VISITING ARTIST SERIES BRINGS SEVERAL NOTABLE ARTISTS TO ASLD TO TEACH MASTER CLASSES, WHICH SUPPLEMENT EXISTING ONGOING CLASSES AND WORKSHOPS. THIS EXTRAORDINARY OPPORTUNITY ALLOWS STUDENTS AND ARTISTS FROM THE COMMUNITY TO WORK AND LEARN FROM SOME OF TODAY'S MOST SIGNIFICANT WORKING ARTISTS.
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