Civic Intelligence

The Residency

990 • Fiscal year 2021 • EIN 84-4232460

Jul 01, 2020 to Jun 30, 2021 • Filed on Mar 04, 2022

Organization ProfileWWW.THERESIDENCYSEATTLE.ORG
10510 Northup Way No 300Kirkland, WA 98033

(425) 250-0051

Siviq Scores

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

Liabilities / Assets

61st percentile

0.01x

Higher debt load relative to assets than 61% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

60th percentile

0.00x

Higher debt load relative to revenue than 60% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

25th percentile

-9.2%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

20th percentile

-18%

Faster asset growth than 20% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

40th percentile

-7.4%

Faster revenue growth than 40% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$162,379

Down $35,355 (-18%) from 2020

Net Assets

Down

$161,480

Down $23,280 (-13%) from 2020

Liabilities

Down

$899

Down $12,075 (-93%) from 2020

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin25th percentile

Revenue

Down

$253,681

Down $20,241 (-7.4%) from 2020

Expenses

Up

$276,961

Up $187,799 (+211%) from 2020

Net Income

Down

-$23,280

Down $208,040 (-113%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$1.5M$1.0M$500K$0Assets 2020: $197,734Liabilities 2020: $12,974Net Assets 2020: $184,7602020Assets 2021: $162,379Liabilities 2021: $899Net Assets 2021: $161,4802021Assets 2022: $323,777Liabilities 2022: $25,444Net Assets 2022: $298,3332022Assets 2023: $357,381Liabilities 2023: $21,711Net Assets 2023: $335,6702023Assets 2024: $1,138,513Liabilities 2024: $12,152Net Assets 2024: $1,126,3612024

Highlighted filing

2021

Assets$162,379
Liabilities$899
Net Assets$161,480
Open 2021 Filing

Operations Trend

Revenue Growth40th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2020: $273,922Expenses 2020: $89,162Net Income 2020: $184,7602020Revenue 2021: $253,681Expenses 2021: $276,961Net Income 2021: -$23,2802021Revenue 2022: $584,028Expenses 2022: $447,175Net Income 2022: $136,8532022Revenue 2023: $686,378Expenses 2023: $649,041Net Income 2023: $37,3372023Revenue 2024: $531,389Expenses 2024: $323,622Net Income 2024: $207,7672024

Highlighted filing

2021

Revenue$253,681
Expenses$276,961
Net Income-$23,280
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Mar 4, 2022
Return Version
2020v4.2
Gross Receipts
$255,570
Mission and Program Overview

Mission

The residency seeks to build a powerful community of young hip-hop artists equipped with the artistic and leadership skills, business acumen, and mentorship necessary to become professional artists and cultural change makers. Through their participation in the residency, young artists from low-income families acquire tangible artistic and professional skills while also gaining confidence, teamwork, and a deepened understanding of their own identity and power.

The residency seeks to build a powerful community of young hip-hop artists equipped with the artistic and leadership skills, business acumen, and mentorship necessary to become professional artists and cultural change makers. Through their participation in the residency, young artists from low-income families in the seattle area acquire tangible artistic and professional skills while also gaining confidence, teamwork, and a deepened understanding of their own identity and power.the year-round program includes a month long intensive workshop where up to 45 young people participate in either a vocal or production track. During the intensive, youth write original songs, record in a professional studio and perform in front of hundreds of people at a premiere seattle venue. In addition to making, recording and performing their music, the youth participate in a number of engaging panel discussions with leaders in the northwest creative community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$197,734$145,945▼ $51,789
Pledges and Grants Receivable-$10,000-
Inventories for Sale or Use-$6,216-
Other Notes and Loans Receivable, Net-$218-
Total Assets$197,734$162,379▼ $35,355
Liabilities
Accounts Payable and Accrued Expenses$12,974$812▼ $12,162
Other Liabilities$0$87▲ $87
Total Liabilities$12,974$899▼ $12,075
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$184,760$161,480▼ $23,280
Total Net Assets Fund Balance$184,760$161,480▼ $23,280
Total Liabilities and Net Assets / Fund Balance$197,734$162,379▼ $35,355
Compensation and Service Providers
Top Officer Pay77th percentile

Board Members and Trustees

NameTitle
Jonathan CunninghamPresident, Treasurer, Dire
Ben HaggertyVice President, Director
Ben SecordSecretary, Director
Revenue and Support

Revenue Composition

Contributions and Grants
$254,211
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-530
All Other Contributions
$254,211
Change in Net Assets
$-23,280
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$172,331
Other Expenses$104,630
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Comp Disqual Persons$89,660$63,355-$153,015
Fees for Services Other$45,174$11,662-$56,836
Payroll Taxes$8,086$6,064-$14,150
Insurance$9,730--$9,730
Advertising$2,718$3,050-$5,768
Other Employee Benefits$2,583$2,583-$5,166
Office Expenses$1,874$2,032-$3,906
Fees for Services Accounting-$1,620-$1,620
Other Expenses$22,972$429-$429
Occupancy-$420-$420
Conferences and Meetings-$53-$53
Total Functional Expenses$182,797$94,164$0$276,961
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
Sales Tax Payable$87
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Part VI, Section A, Line 2

“Ben secord is an employee of ben haggerty.”

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

“Board or directors reviews and approved the 990 before filing.”

Form 990, Part VI, Section C, Line 19

“Https://www.guidestar.org”

Filing and Contact Details

Filer

Filer Name
The Residency
EIN
84-4232460
Phone
4252500051
Address
10510 NORTHUP WAY NO 300, KIRKLAND, WA 98033

Signing Officer

Name
Ben Secord
Title
Secretary
Phone
4252500051
Signed
2022-03-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben Secord
Formed
2020
Legal Domicile
Wa
Voting Board Members
3
Independent Board Members
3
Employees
12
Volunteers
5

Preparer

Firm
Vwc Ps
Address
10510 NORTHUP WAY SUITE 300, KIRKLAND, WA 98033
Preparer
Rachelle a Benbow
Phone
4252500051
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants and contract labor: program service expenses 10,640. Management and general expenses 11,025. Fundraising expenses 0. Total expenses 21,665. Payroll processing: program service expenses 682. Management and general expenses 637. Fundraising expenses 0. Total expenses 1,319. Guest speakers and instructors: program service expenses 2,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,000. Program creation consultant: program service expenses 31,852. Management and general expenses 0. Fundraising expenses 0. Total expenses 31,852.”

Raw XML Appendix339 raw XML fields

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/ActivityOrMissionDesc0THE RESIDENCY SEEKS TO BUILD A POWERFUL COMMUNITY OF YOUNG HIP-HOP ARTISTS EQUIPPED WITH THE ARTISTIC AND LEADERSHIP SKILLS, BUSINESS ACUMEN, AND MENTORSHIP NECESSARY TO BECOME PROFESSIONAL ARTISTS AND CULTURAL CHANGE MAKERS. THROUGH THEIR PARTICIPATION IN THE RESIDENCY, YOUNG ARTISTS FROM LOW-INCOME FAMILIES IN THE SEATTLE AREA ACQUIRE TANGIBLE ARTISTIC AND PROFESSIONAL SKILLS WHILE ALSO GAINING CONFIDENCE, TEAMWORK, AND A DEEPENED UNDERSTANDING OF THEIR OWN IDENTITY AND POWER.THE YEAR-ROUND PROGRAM INCLUDES A MONTH LONG INTENSIVE WORKSHOP WHERE UP TO 45 YOUNG PEOPLE PARTICIPATE IN EITHER A VOCAL OR PRODUCTION TRACK. DURING THE INTENSIVE, YOUTH WRITE ORIGINAL SONGS, RECORD IN A PROFESSIONAL STUDIO AND PERFORM IN FRONT OF HUNDREDS OF PEOPLE AT A PREMIERE SEATTLE VENUE. IN ADDITION TO MAKING, RECORDING AND PERFORMING THEIR MUSIC, THE YOUTH PARTICIPATE IN A NUMBER OF ENGAGING PANEL DISCUSSIONS WITH LEADERS IN THE NORTHWEST CREATIVE COMMUNITY.
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IRS990/Desc0MONTH LONG INTENSIVE WORKSHOP WHERE UP TO 45 YOUNG PEOPLE (AGES 16-24) PARTICIPATE IN EITHER A VOCAL OR PRODUCTION TRACK. DURING THE INTENSIVE, YOUTH WRITE ORIGINAL SONGS, RECORD IN A PROFESSIONAL STUDIO AND PERFORM IN FRONT OF HUNDREDS OF PEOPLE AT A PREMIERE SEATTLE VENUE. IN ADDITION TO MAKING, RECORDING AND PERFORMING THEIR MUSIC, THE YOUTH PARTICIPATE IN A NUMBER OF ENGAGING PANEL DISCUSSIONS WITH LEADERS IN THE NORTHWEST CREATIVE COMMUNITY. THE RESIDENCY EXISTS TO BREAK DOWN BARRIERS TO EQUITABLE ARTS LEARNING. WE CONTINUE TO CENTER BLACK, INDIGENOUS, & P.O.C IDENTIFYING YOUNG ARTISTS FROM LOW-INCOME FAMILIES TO HELP ACQUIRE TANGIBLE ARTISTIC AND PROFESSIONAL SKILLS WHILE ALSO GAINING CONFIDENCE, TEAMWORK, AND A DEEPENED UNDERSTANDING OF THEIR OWN IDENTITY AND POWER. IN AN EFFORT TO ADDRESS FINANCIAL DIFFICULTIES AND TO HONOR THEIR WORK AS ARTISTS, YOUTH PARTICIPANTS RECEIVE STIPENDS AT THE COMPLETION OF THE RESIDENCY. FURTHER, PARTICIPANTS RECEIVE SUBSIDIZED TRANSPORTATION AND MEALS THROUGHOUT THE RESIDENCY TO MINIMIZE POTENTIAL CHALLENGES TO FULL PARTICIPATION IN THE PROGRAM.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1SECRETARY, DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT, DIRECTOR
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IRS990/MissionDesc0THE RESIDENCY SEEKS TO BUILD A POWERFUL COMMUNITY OF YOUNG HIP-HOP ARTISTS EQUIPPED WITH THE ARTISTIC AND LEADERSHIP SKILLS, BUSINESS ACUMEN, AND MENTORSHIP NECESSARY TO BECOME PROFESSIONAL ARTISTS AND CULTURAL CHANGE MAKERS. THROUGH THEIR PARTICIPATION IN THE RESIDENCY, YOUNG ARTISTS FROM LOW-INCOME FAMILIES ACQUIRE TANGIBLE ARTISTIC AND PROFESSIONAL SKILLS WHILE ALSO GAINING CONFIDENCE, TEAMWORK, AND A DEEPENED UNDERSTANDING OF THEIR OWN IDENTITY AND POWER.
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE YEAR-ROUND PROGRAM INCLUDES PARTICIPATING IN PERFORMANCES IN FRONT OF HUNDREDS OF PEOPLE AT A PREMIERE SEATTLE VENUEA AND A NUMBER OF ENGAGING PANEL DISCUSSIONS WITH LEADERS IN THE NORTHWEST CREATIVE COMMUNITY.
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IRS990/ProgSrvcAccomActy3Grp/Desc0IN RECENT YEARS, THE RESIDENCY HAS BUILT A REPUTATION FOR BEING AMONG THE NATION'S FINEST HIP-HOP MUSIC INSTITUTIONS. TO CONTINUE STRENGTHENING OUR COMMUNITY, WE BELIEVE IN PROVIDING OUR PARTICIPANTS WITH ACCESS TO HIGHER EDUCATION OPPORTUNITIES. FOR MANY OF THESE STUDENTS, HIGHER EDUCATION WOULD NOT BE POSSIBLE WITHOUT CONSIDERABLE FINANCIAL SUPPORT. IT IS THROUGH SCHOLARSHIPS THAT STUDENTS FROM FINANCIALLY DISADVANTAGED BACKGROUNDS ARE GIVEN THE CHANCE TO DEVELOP AS ARTISTS AND GAIN A SUPERIOR EDUCATION. THE GOAL OF THIS SCHOLARSHIP FUND IS TO CREATE A PIPELINE TO HIGHER EDUCATION FOR OUR ALUMNI AND BREAK DOWN THE BARRIERS THAT DENY THEM ACCESS TO BECOMING THE FUTURE LEADERS OF TOMORROW.
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IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt087
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SALES TAX PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalLiabilityAmt087
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OR DIRECTORS REVIEWS AND APPROVED THE 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HTTPS://WWW.GUIDESTAR.ORG
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONSULTANTS AND CONTRACT LABOR: PROGRAM SERVICE EXPENSES 10,640. MANAGEMENT AND GENERAL EXPENSES 11,025. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 21,665. PAYROLL PROCESSING: PROGRAM SERVICE EXPENSES 682. MANAGEMENT AND GENERAL EXPENSES 637. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,319. GUEST SPEAKERS AND INSTRUCTORS: PROGRAM SERVICE EXPENSES 2,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,000. PROGRAM CREATION CONSULTANT: PROGRAM SERVICE EXPENSES 31,852. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,852.
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 C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsEOYAmt0162379
IRS990/TotalAssetsGrp/BOYAmt0197734
IRS990/TotalAssetsGrp/EOYAmt0162379
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0254211
IRS990/TotalEmployeeCnt012
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt094164
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0182797
IRS990/TotalFunctionalExpensesGrp/TotalAmt0276961
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012974
IRS990/TotalLiabilitiesEOYAmt0899
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IRS990/TotalLiabilitiesGrp/EOYAmt0899
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0HTTPS://WWW.THERESIDENCYSEATTLE.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-05-20 13:21:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0BEN SECORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum04252500051
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-04
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd098033
ReturnHeader/PreparerPersonGrp/PhoneNum04252500051
ReturnHeader/PreparerPersonGrp/PreparationDt02022-03-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RACHELLE A BENBOW
ReturnHeader/ReturnTs02022-03-13T11:34:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0BEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SECORD
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$162,379
Liabilities
$899
Net assets
$161,480
Revenue
$253,681
Expenses
$276,961
Net income
-$23,280
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.14$0.01$1.13$0.53$0.32$0.21
2023Summary only. Only limited summary data is available for this year.$0.36$0.02$0.34$0.69$0.65$0.04
2022Summary only. Only limited summary data is available for this year.$0.32$0.03$0.30$0.58$0.45$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.16$0.00$0.16$0.25$0.28$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.01$0.18$0.27$0.09$0.18
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2021 filings • 501(c)3 • <$500k nonprofits