Civic Intelligence

Equity Arts

990 • Fiscal year 2024 • EIN 85-2271772

Jan 01, 2024 to Dec 31, 2024 • Filed on Aug 19, 2025

Organization Profileequityarts.org
1550 N Milwaukee Ave 2nd floorChicago, IL 60622

(312) 502-2230

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.00x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

5th percentile

-107%

Higher net margin than 5% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets56th percentile

Assets

Down

$1,194

Down $7 (-0.6%) from 2020

Net Assets

$1,194

No earlier filing loaded for comparison.

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin5th percentile

Revenue

Up

$112,000

Up $110,000 (+5500%) from 2020

Expenses

Up

$231,674

Up $230,876 (+28932%) from 2020

Net Income

Down

-$119,674

Down $120,876 (-10056%) from 2020

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.5K$1.0K$500$0Assets 2020: $1,201Liabilities 2020: $02020Assets 2024: $1,194Liabilities 2024: $0Net Assets 2024: $1,1942024

Highlighted filing

2024

Assets$1,194
Liabilities$0
Net Assets$1,194
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$300K$200K$100K$0-$100K-$200KRevenue 2020: $2,000Expenses 2020: $798Net Income 2020: $1,2022020Revenue 2024: $112,000Expenses 2024: $231,674Net Income 2024: -$119,6742024

Highlighted filing

2024

Revenue$112,000
Expenses$231,674
Net Income-$119,674
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 19, 2025
Return Version
2024v5.0
Gross Receipts
$112,000
Mission and Program Overview

Mission

EQUITY ARTS is a center for the creative economy that advances racial equity and wealth-building for artists and entrepreneurs. This reparative ownership model preserves space for synergistic exchanges between value-aligned partners. The center fuels commercial abundance and enriches authentic cultural experiences that serves as a vehicle for transformative healing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$0$76,000▲ $76,000
Rtn Earn Endowment Incm Other Fnds$44,868$1,194▼ $43,674
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$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
Land, Buildings, and Equipment, Net$0--
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Cash and Non-Interest-Bearing Accounts$44,868$-74,806▼ $119,674
Total Assets$44,868$1,194▼ $43,674
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
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--
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$44,868$1,194▼ $43,674
Total Liabilities and Net Assets / Fund Balance$44,868$1,194▼ $43,674
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Alma WieserPresident
Cordell JohnsonBoard Member
David ChavezBoard Member
Eric WilliamsBoard Member
Joe ShanahanBoard Member
Sadie WoodsSecretary
Vincent UribeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$51,500
Program Service Revenue
$60,500
Investment Income
$0
Other Revenue
$0
All Other Contributions
$51,500
Change in Net Assets
$-119,674
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$231,674
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
Fees for Services Other$206,753$0$0$206,753
Occupancy$20,000$0$0$20,000
Fees for Services Legal$0$2,850$0$2,850
Other Expenses$0$2,071$0$2,071
Total Functional Expenses$226,753$4,921$0$231,674
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
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 B, Line 11B

“The president works with a contract accountant to review the financials for the year. The board is presented with a draft of the 990. Each board member must review and reply by email with any questions or changes. Once all board members have signed off, the Treasurer finalizes and signs the form.”

Form 990, Part VI, Section B, Line 12C

“Board members are required to disclose conflict of interest at the beginning of each fiscal year. Each board meeting agenda includes an opportunity to disclose at the very end of the meeting.”

Form 990, Part VI, Section C, Line 19

“These materials are available upon request.”

Filing and Contact Details

Filer

Filer Name
Equity Arts
EIN
85-2271772
Phone
3125022230
Address
1550 N Milwaukee Ave 2nd floor, Chicago, IL 60622

Signing Officer

Name
Alma Wieser
Title
President
Phone
3125022230
Signed
2025-08-19

Organization Details

Principal Officer
Alma Wieser
Formed
2020
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
5
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Architectural design and services = $49353. Earnest money paid to property seller to hold the building under contract - $155,000. Programming performance = $2,400.”

Form 990, Part XI, Line 9

“$76,000 in investments received”

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IRS990/ActivityOrMissionDesc0EQUITY ARTS is a center for the creative economy that advances racial equity and wealth-building for artists and entrepreneurs. This reparative ownership model preserves space for synergistic exchanges between value-aligned partners. The center fuels commercial abundance and enriches authentic cultural experiences that serves as a vehicle for transformative healing.
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IRS990/Desc0Derived from the need for self-determination, Equity Arts is establishing a replicable economic model for sustainable arts & culture through community-owned real estate. This strategic investment redirects the power of the market towards social impact, restoring neighborhood authenticity and developing a local resilient arts ecosystem for the next generation of Chicago arts leaders and entrepreneurs.
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IRS990/MissionDesc0EQUITY ARTS is a center for the creative economy that advances racial equity and wealth-building for artists and entrepreneurs. This reparative ownership model preserves space for synergistic exchanges between value-aligned partners. The center fuels commercial abundance and enriches authentic cultural experiences that serves as a vehicle for transformative healing.
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/NetUnrlzdGainsLossesInvstAmt00
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IRS990/NondeductibleContributionsInd01
IRS990/NondeductibleContriDisclInd00
IRS990/OccupancyGrp/FundraisingAmt00
IRS990/OccupancyGrp/ManagementAndGeneralAmt00
IRS990/OccupancyGrp/ProgramServicesAmt020000
IRS990/OccupancyGrp/TotalAmt020000
IRS990/OfficeExpensesGrp/FundraisingAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt00
IRS990/OfficeExpensesGrp/ProgramServicesAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt076000
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Financial Fees
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02071
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/TotalAmt02071
IRS990/OtherLiabilitiesGrp/BOYAmt00
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IRS990/PaymentsToAffiliatesGrp/ManagementAndGeneralAmt00
IRS990/PaymentsToAffiliatesGrp/ProgramServicesAmt00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt00
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IRS990/ProgramServiceRevenueGrp/Desc0Arts & Culture Community Development
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IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/PYGrantsAndSimilarPaidAmt022900
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IRS990/PYOtherRevenueAmt0201000
IRS990/PYProgramServiceRevenueAmt00
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
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Document Assets

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Filings

Displayed year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,194
Liabilities
$0
Net assets
$1,194
Revenue
$112,000
Expenses
$231,674
Net income
-$119,674
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.01$0.00$0.01$1.12$2.32$1.20
2020Summary only. Only limited summary data is available for this year.$0.01$0.00$0.02$0.01$0.01
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2024 filings • 501(c)3 • <$500k nonprofits