Civic Intelligence

585 Arts Inc.

990 • Fiscal year 2024 • EIN 86-2767219

Jul 01, 2023 to Jun 30, 2024 • Filed on Mar 20, 2025

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

27th percentile

0.02x

Higher debt load relative to assets than 27% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

26th percentile

0.05x

Higher debt load relative to revenue than 26% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

95th percentile

70%

Higher net margin than 95% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

85th percentile

$271,923

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 9.8% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

90th percentile

43%

Faster asset growth than 90% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

11th percentile

-26%

Faster revenue growth than 11% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$5,865,656

Up $1,760,884 (+43%) from 2023

Net Assets

Up

$5,731,511

Up $1,955,840 (+52%) from 2023

Liabilities

Down

$134,145

Down $194,956 (-59%) from 2023

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin95th percentile

Revenue

Down

$2,785,981

Down $966,382 (-26%) from 2023

Expenses

Up

$830,141

Up $75,361 (+10.0%) from 2023

Net Income

Down

$1,955,840

Down $1,041,743 (-35%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth90th 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

2024

Assets$5,865,656
Liabilities$134,145
Net Assets$5,731,511
Open 2024 Filing

Operations Trend

Revenue Growth11th 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

2024

Revenue$2,785,981
Expenses$830,141
Net Income$1,955,840
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Mar 20, 2025
Return Version
2023v6.0
Gross Receipts
$2,785,981
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$2,507,867$5,202,116▲ $2,694,249
Pledges and Grants Receivable$1,186,250$485,634▼ $700,616
Cash and Non-Interest-Bearing Accounts$410,655$177,906▼ $232,749
Total Assets$4,104,772$5,865,656▲ $1,760,884
Liabilities
Accounts Payable and Accrued Expenses$329,101$134,145▼ $194,956
Total Liabilities$329,101$134,145▼ $194,956
Net Assets / Fund Balance
Net Assets With Donor Restrictions$3,775,671$5,731,511▲ $1,955,840
Total Net Assets Fund Balance$3,775,671$5,731,511▲ $1,955,840
Total Liabilities and Net Assets / Fund Balance$4,104,772$5,865,656▲ $1,760,884
Compensation and Service Providers
Top Officer Pay85th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$2,397,600
Program Service Revenue
$200,000
Investment Income
$188,381
Other Revenue
$0
All Other Contributions
$2,397,600
Change in Net Assets
$1,955,840

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,785,981
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,785,981
Total Revenue per Form 990
$2,785,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$830,141
Total Fundraising Expense$328,068
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$123,840$113,108$297,518$534,466
Fees for Services Other$183,305-$30,550$213,855
Occupancy$55,084--$55,084
Information Technology$18,298--$18,298
Fees for Services Accounting$6,188--$6,188
Fees for Services Legal$2,250--$2,250
Total Functional Expenses$388,965$113,108$328,068$830,141

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$830,141
Total Expenses per Audited Statements$830,141
Total Expenses per Form 990$830,141
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
-Related Organization Board 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
2025-03-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Constance Chin
Formed
2021
Legal Domicile
Ma
Voting Board Members
4
Independent Board Members
3
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 177,102. Management and general expenses 0. Fundraising expenses 0. Total expenses 177,102. Admin expenses: Program service expenses 6,203. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,203. Development expenses: Program service expenses 0. Management and general expenses 0. Fundraising expenses 30,550. Total expenses 30,550.”

990 Part XII, Line 2C

“No changes to the process in place”

Part IX, Line 7, Salaries and Wages

“The $513,712 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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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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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 177,102. Management and general expenses 0. Fundraising expenses 0. Total expenses 177,102. Admin expenses: Program service expenses 6,203. Management and general expenses 0. Fundraising expenses 0. Total expenses 6,203. Development expenses: Program service expenses 0. Management and general expenses 0. Fundraising expenses 30,550. Total expenses 30,550.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No changes to the process in place
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The $513,712 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
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IRS990ScheduleR/AssetSaleToOtherOrgInd00
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Cambridge
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MA
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IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
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IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd00
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0Allocation of time
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IRS990/SchoolOperatingInd00
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IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt04104772
IRS990/TotalAssetsEOYAmt05865656
IRS990/TotalAssetsGrp/BOYAmt04104772
IRS990/TotalAssetsGrp/EOYAmt05865656
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0113108
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0388965
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IRS990/TotalProgramServiceExpensesAmt0388965
IRS990/TotalProgramServiceRevenueAmt0200000
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0188381
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0200000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02785981
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotReportableCompRltdOrgAmt0225547
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0720 Massachusetts Avenue
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IRS990/USAddress/ZIPCd002139
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Constance Chin
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Chief Executive Officer
ReturnHeader/BusinessOfficerGrp/PhoneNum06178764275
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0585 Arts Inc
ReturnHeader/Filer/BusinessNameControlTxt0585A
ReturnHeader/Filer/EIN0862767219
ReturnHeader/Filer/PhoneNum06178764275
ReturnHeader/Filer/USAddress/AddressLine1Txt0720 Massachusetts Avenue
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0043100673
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0LCW CPAs
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0303 Canal Street Suite 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Lawrence
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001840
ReturnHeader/PreparerPersonGrp/PhoneNum09786898822
ReturnHeader/PreparerPersonGrp/PreparationDt02025-03-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Shannon B Lee CPA
ReturnHeader/ReturnTs02025-03-20T12:13:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,865,656
Liabilities
$134,145
Net assets
$5,731,511
Revenue
$2,785,981
Expenses
$830,141
Net income
$1,955,840
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