Civic Intelligence

585 Arts Inc.

990 • Fiscal year 2023 • EIN 86-2767219

Jul 01, 2022 to Jun 30, 2023 • Filed on Jul 23, 2024

Organization ProfileN/A
720 Massachusetts AvenueCambridge, MA 02139

(617) 876-4275

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.08x

Higher debt load relative to assets than 53% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

50th percentile

0.09x

Higher debt load relative to revenue than 50% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

96th percentile

80%

Higher net margin than 96% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

93rd percentile

$255,936

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 6.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

97th percentile

181%

Faster asset growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

97th percentile

277%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$4,104,772

Up $2,646,178 (+181%) from 2022

Net Assets

Up

$3,775,671

Up $2,973,246 (+371%) from 2022

Liabilities

Down

$329,101

Down $327,068 (-50%) from 2022

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin96th percentile

Revenue

Up

$3,752,363

Up $2,755,964 (+277%) from 2022

Expenses

Up

$754,780

Up $529,666 (+235%) from 2022

Net Income

Up

$2,997,583

Up $2,226,298 (+289%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$6.0M$4.0M$2.0M$0Assets 2022: $1,458,594Liabilities 2022: $656,169Net Assets 2022: $802,4252022Assets 2023: $4,104,772Liabilities 2023: $329,101Net Assets 2023: $3,775,6712023Assets 2024: $5,865,656Liabilities 2024: $134,145Net Assets 2024: $5,731,5112024

Highlighted filing

2023

Assets$4,104,772
Liabilities$329,101
Net Assets$3,775,671
Open 2023 Filing

Operations Trend

Revenue Growth97th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2022: $996,399Expenses 2022: $225,114Net Income 2022: $771,2852022Revenue 2023: $3,752,363Expenses 2023: $754,780Net Income 2023: $2,997,5832023Revenue 2024: $2,785,981Expenses 2024: $830,141Net Income 2024: $1,955,8402024

Highlighted filing

2023

Revenue$3,752,363
Expenses$754,780
Net Income$2,997,583
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jul 23, 2024
Return Version
2022v5.0
Gross Receipts
$3,752,363
Mission and Program Overview

Mission

The operation and programming of an expansive arts and performance space in Cambridge, MA.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$773,594$2,507,867▲ $1,734,273
Pledges and Grants Receivable$585,000$1,186,250▲ $601,250
Cash and Non-Interest-Bearing Accounts$100,000$410,655▲ $310,655
Total Assets$1,458,594$4,104,772▲ $2,646,178
Liabilities
Deferred Revenue$585,000$0▼ $585,000
Accounts Payable and Accrued Expenses$71,169$329,101▲ $257,932
Total Liabilities$656,169$329,101▼ $327,068
Net Assets / Fund Balance
Net Assets With Donor Restrictions$802,425$3,775,671▲ $2,973,246
Total Net Assets Fund Balance$802,425$3,775,671▲ $2,973,246
Total Liabilities and Net Assets / Fund Balance$1,458,594$4,104,772▲ $2,646,178
Compensation and Service Providers
Top Officer Pay93rd percentile

Board Members and Trustees

NameTitle
Andrea ItanoPresident
Salvatore ZinnoDirector
Nagesh MahanthappaClerk
Maure AronsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,732,669
Program Service Revenue
$0
Investment Income
$19,694
Other Revenue
$0
All Other Contributions
$3,732,669
Change in Net Assets
$2,997,583

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,752,363
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$78,923
Total Revenue per Audited Statements
$3,831,286
Total Revenue per Form 990
$3,752,363
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$754,780
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 Management$573,004--$573,004
Fees for Services Other$97,770--$97,770
Occupancy$44,960--$44,960
Information Technology$21,000--$21,000
Fees for Services Legal$13,546--$13,546
Fees for Services Accounting$4,500--$4,500
Total Functional Expenses$754,780$0$0$754,780

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$833,704
Expenses per Audited Statements$754,781
Total Expenses per Form 990$754,781
Expenses Not Reported on Form 990$78,923
Expenses Not Reported on Financial Statements$0
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Substantial ContributorRelated Organization Board MemberContributionNo$250,000
Substantial ContributorRelated Organization Board MemberContributionNo$60,000
Substantial ContributorBoard MemberContributionNo$25,000
Substantial ContributorRelated Organization Board MemberContributionNo$10,000
Substantial ContributorRelated Organization Board MemberContributionNo$5,000
Substantial ContributorRelated Organization Board MemberContributionNo$5,000
Substantial ContributorRelated Organization Board MemberContributionNo$5,000
Substantial ContributorBoard MemberContributionNo$5,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The completed Form 990 will be presented to the Board of Directors prior to its filing.”

Form 990, Part VI, Section C, line 19

“The Organization makes its governing documents, policy statements, and financial statements available to the public upon request in writing to the Organization's mailing address.”

Filing and Contact Details

Filer

Filer Name
585 Arts Inc
EIN
86-2767219
Phone
6178764275
Address
720 Massachusetts Avenue, Cambridge, MA 02139

Signing Officer

Name
Constance Chin
Title
Chief Executive Officer
Phone
6178764275
Signed
2024-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Constance Chin
Formed
2021
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
LCW CPAs
Address
303 Canal Street Suite 200, Lawrence, MA 01840
Preparer
Shannon B Lee CPA
Phone
9786898822
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Consulting fees: Program service expenses 83,791. Management and general expenses 0. Fundraising expenses 0. Total expenses 83,791. Admin expenses: Program service expenses 13,979. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,979.”

990 Part XII, Line 2C

“No changes to the process in place”

Part IX, Line 7, Salaries and Wages

“The $573,004 of management fees are derived from a related non-profit Organization FED ID #22-3036665. The amount represents salaries and wages from the related Organization that was allocated to 585 Arts, Inc.”

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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd50
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd60
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd70
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt025000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt160000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt210000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt35000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt4250000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt55000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt65000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt75000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc5Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc6Contribution
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc7Contribution
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The completed Form 990 will be presented to the Board of Directors prior to its filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Organization makes its governing documents, policy statements, and financial statements available to the public upon request in writing to the Organization's mailing address.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Consulting fees: Program service expenses 83,791. Management and general expenses 0. Fundraising expenses 0. Total expenses 83,791. Admin expenses: Program service expenses 13,979. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,979.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No changes to the process in place
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The $573,004 of management fees are derived from a related non-profit Organization FED ID #22-3036665. The amount represents salaries and wages from the related Organization that was allocated to 585 Arts, Inc.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3990 Part Xii, Line 2c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Part IX, Line 7, Salaries and Wages
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0World Music Inc
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0223036665
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Performing arts
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0720 Massachusetts Ave
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Cambridge
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd002139
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0573004
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Allocation of time
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0World Music Inc
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0O
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01458594
IRS990/TotalAssetsEOYAmt04104772
IRS990/TotalAssetsGrp/BOYAmt01458594
IRS990/TotalAssetsGrp/EOYAmt04104772
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt03732669
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0754780
IRS990/TotalFunctionalExpensesGrp/TotalAmt0754780
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0656169
IRS990/TotalLiabilitiesEOYAmt0329101
IRS990/TotalLiabilitiesGrp/BOYAmt0656169
IRS990/TotalLiabilitiesGrp/EOYAmt0329101
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0802425
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03775671
IRS990/TotalOtherCompensationAmt034157
IRS990/TotalProgramServiceExpensesAmt0754780
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt019694
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03752363
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01458594
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04104772
IRS990/TotReportableCompRltdOrgAmt0221779
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0720 Massachusetts Avenue
IRS990/USAddress/CityNm0Cambridge
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002139
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Constance Chin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Executive Officer

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,104,772
Liabilities
$329,101
Net assets
$3,775,671
Revenue
$3,752,363
Expenses
$754,780
Net income
$2,997,583
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.87$0.13$5.73$2.79$0.83$1.96
2023Detailed filing. Detailed filing data is available for this year.$4.10$0.33$3.78$3.75$0.75$3.00
2022Detailed filing. Detailed filing data is available for this year.$1.46$0.66$0.80$1.00$0.23$0.77