Civic Intelligence

Artspace Inc.

990 • Fiscal year 2017 • EIN 94-2772520

Jan 01, 2017 to Dec 31, 2017 • Filed on Jun 22, 2018

Organization ProfileARTSPACEUTAH.ORG

View Organization Page

230 South 500 West Suite 235Salt Lake City, UT 84101

(801) 355-0538

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.52x

Higher debt load relative to assets than 72% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

4.89x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

50th percentile

3.0%

Higher net margin than 50% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

60th percentile

$283,833

Higher top officer pay than 60% of similar nonprofits.

Top officer pay equals 6.7% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

21st percentile

-2.2%

Faster asset growth than 21% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

7th percentile

-32%

Faster revenue growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$39,984,288

Down $895,162 (-2.2%) from 2016

Net Assets

Up

$19,298,780

Up $126,339 (+0.7%) from 2016

Liabilities

Down

$20,685,508

Down $1,021,501 (-4.7%) from 2016

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin50th percentile

Revenue

Down

$4,230,364

Down $1,962,784 (-32%) from 2016

Expenses

Up

$4,104,025

Up $123,858 (+3.1%) from 2016

Net Income

Down

$126,339

Down $2,086,642 (-94%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$60M$40M$20M$0Assets 2010: $42,618,794Liabilities 2010: $34,468,761Net Assets 2010: $8,150,0332010Assets 2011: $12,149,711Liabilities 2011: $2,060,442Net Assets 2011: $10,089,2692011Assets 2012: $56,345,850Liabilities 2012: $47,714,237Net Assets 2012: $8,631,6132012Assets 2013: $54,319,664Liabilities 2013: $46,542,919Net Assets 2013: $7,776,7452013Assets 2014: $52,809,474Liabilities 2014: $45,844,213Net Assets 2014: $6,965,2612014Assets 2015: $36,137,882Liabilities 2015: $19,340,822Net Assets 2015: $16,797,0602015Assets 2016: $40,879,450Liabilities 2016: $21,707,009Net Assets 2016: $19,172,4412016Assets 2017: $39,984,288Liabilities 2017: $20,685,508Net Assets 2017: $19,298,7802017Assets 2018: $39,432,857Liabilities 2018: $19,962,302Net Assets 2018: $19,470,5552018Assets 2019: $35,609,028Liabilities 2019: $17,582,173Net Assets 2019: $18,026,8552019Assets 2020: $35,006,190Liabilities 2020: $16,762,578Net Assets 2020: $18,243,6122020Assets 2021: $34,050,741Liabilities 2021: $15,833,251Net Assets 2021: $18,217,4902021Assets 2022: $35,152,188Liabilities 2022: $14,823,190Net Assets 2022: $20,328,9982022Assets 2023: $32,349,714Liabilities 2023: $12,087,855Net Assets 2023: $20,261,8592023Assets 2024: $31,496,945Liabilities 2024: $11,341,669Net Assets 2024: $20,155,2762024

Highlighted filing

2017

Assets$39,984,288
Liabilities$20,685,508
Net Assets$19,298,780
Open 2017 Filing

Operations Trend

Revenue Growth7th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2010: $688,838Expenses 2010: $1,133,844Net Income 2010: -$445,0062010Expenses 2011: $1,892,5942011Expenses 2012: $5,044,8602012Revenue 2013: $4,456,766Expenses 2013: $5,329,457Net Income 2013: -$872,6912013Revenue 2014: $5,211,105Expenses 2014: $6,022,589Net Income 2014: -$811,4842014Revenue 2015: $11,926,475Expenses 2015: $4,233,903Net Income 2015: $7,692,5722015Revenue 2016: $6,193,148Expenses 2016: $3,980,167Net Income 2016: $2,212,9812016Revenue 2017: $4,230,364Expenses 2017: $4,104,025Net Income 2017: $126,3392017Revenue 2018: $4,391,541Expenses 2018: $4,219,766Net Income 2018: $171,7752018Revenue 2019: $5,445,976Expenses 2019: $4,647,934Net Income 2019: $798,0422019Revenue 2020: $4,813,637Expenses 2020: $4,596,880Net Income 2020: $216,7572020Revenue 2021: $4,832,458Expenses 2021: $4,858,580Net Income 2021: -$26,1222021Revenue 2022: $7,535,260Expenses 2022: $5,146,631Net Income 2022: $2,388,6292022Revenue 2023: $6,085,723Expenses 2023: $6,149,978Net Income 2023: -$64,2552023Revenue 2024: $5,907,294Expenses 2024: $6,051,741Net Income 2024: -$144,4472024

Highlighted filing

2017

Revenue$4,230,364
Expenses$4,104,025
Net Income$126,339
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jun 22, 2018
Return Version
2017v2.2
Gross Receipts
$4,230,364
Mission and Program Overview

Mission

Artspace creates affordable living and work space for artists, cultural organizations, non-profits and others to revitalize and promote stable, vibrant and safe communities. Artspace also utilizes new markets tax credits in low income communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,683,740$25,202,030▲ $518,290
Other Notes and Loans Receivable, Net$6,612,587$6,222,368▼ $390,219
Receivables From Officers Etc$5,149,541$5,181,539▲ $31,998
Savings and Temporary Cash Investments$528,050$1,304,691▲ $776,641
Loans From Officers Directors$1,000,000--
Investments Program Related$477,148$373,794▼ $103,354
Intangible Assets$234,069$216,260▼ $17,809
Prepaid Expenses and Deferred Charges$63,988$61,649▼ $2,339
Pledges and Grants Receivable$40,000$50,800▲ $10,800
Total Assets$40,879,450$39,984,288▼ $895,162
Other Assets Total$3,090,327$1,371,157▼ $1,719,170
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,185,656$19,993,048▼ $192,608
Other Liabilities$279,966$446,263▲ $166,297
Accounts Payable and Accrued Expenses$191,387$196,197▲ $4,810
Deferred Revenue$50,000$50,000→ $0
Total Liabilities$21,707,009$20,685,508▼ $1,021,501
Net Assets / Fund Balance
Unrestricted Net Assets$19,132,441$19,298,780▲ $166,339
Temporarily Rstr Net Assets$40,000$0▼ $40,000
Total Net Assets Fund Balance$19,172,441$19,298,780▲ $126,339
Total Liabilities and Net Assets / Fund Balance$40,879,450$39,984,288▼ $895,162

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$21,502,617$15,068,163$36,570,780
Land$3,259,100-$3,259,100
Equipment$208,540$1,087,420$1,295,960
Leasehold Improvements$231,773$533,501$765,274
Compensation and Service Providers
Top Officer Pay60th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jessica NoriePresidentFT$221,385$62,448$283,833

Board Members and Trustees

NameTitle
Jennifer SpeersChair
Adam HillBoard Member
Dan AdamsBoard Member
Doug HarrisBoard Member
Elizabeth EvensenBoard Member
Fletcher BoothBoard Member
Ira RubinfeldBoard Member
John HarrisBoard Member
Kathie MillerBoard Member
Kisty MorrisBoard Member
Philip JeffsBoard Member
John MillikenSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$373,036
Program Service Revenue
$3,739,295
Investment Income
$118,033
Other Revenue
$0
All Other Contributions
$373,036
Change in Net Assets
$126,339
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,335,087
Salaries, Compensation, and Employee Benefits$768,938
Total Fundraising Expense$119,073
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$1,180,641$4,177$3,659$1,188,477
Interest$855,712$7,687$6,734$870,133
Occupancy$646,211$3,090$2,708$652,009
Other Salaries and Wages$348,471$28,479$24,951$401,901
Current Officers, Directors, Trustees, and Key Employees$167,976$61,755$54,102$283,833
Insurance$81,464$881$771$83,116
Fees for Services Accounting$47,460$8,992$7,878$64,330
Payroll Taxes$39,805$6,830$5,983$52,618
Information Technology$37,773$1,057$926$39,756
Other Employee Benefits$20,403$2,154$1,887$24,444
All Other Expenses$13,128$835$731$14,694
Office Expenses$11,584$437$383$12,404
Travel$5,709$508$446$6,663
Pension Plan Contributions$3,635$1,336$1,171$6,142
Other Expenses$5,382$7,433$6,511$5,382
Fees for Services Legal$2,600--$2,600
Fees for Services Other$956$264$232$1,452
Total Functional Expenses$3,849,037$135,915$119,073$4,104,025
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
-Jessica Norie, President of Artspace Is the President of CdfaSEE BELOW:$50,000 2017 ADMINISTRATIVE FEES$115,000 FINDER FEENo$165,000

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$5,149,541$5,181,539▲ $31,998
Loans from Officers, Directors, Trustees, and Key Employees$1,000,000--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposit Liability$260,313
Construction Costs Payable$167,591
Interest Payable$18,359
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 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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1

“The executive committee of the board consists of the board chair, secretary/treasurer, and another board member approved by the board. The executive committee has and may exercise all of the authority of the board of directors except as prohibited by statute.”

Form 990, Part VI, Section A, Line 8B

“There is no other committee with authority to act on behalf of the governing body.”

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

“The board of directors reviews the 990 before it is filed with the irs.”

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

“Each board member is required to complete a statement annually indicating any possible conflict or duality of interest to be submitted to the organization.”

Form 990, Part VI, Section B, Line 15A

“President compensation is determined and approved by the artspace board executive committee.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Artspace
EIN
94-2772520
Phone
8013550538
Address
230 SOUTH 500 WEST SUITE 235, SALT LAKE CITY, UT 84101

Signing Officer

Name
Jessica Norie
Title
President
Phone
8013550538
Signed
2018-06-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jessica Norie
Formed
1980
Legal Domicile
Ut
Voting Board Members
12
Independent Board Members
12
Employees
4
Volunteers
12

Preparer

Firm
Eide Bailly Llp
Address
5 TRIAD CENTER STE 600, SALT LAKE CITY, UT 84180-1106
Preparer
Ted L Hill CPA
Phone
8015322200
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“Artspace is organized as a utah nonprofit corporation and has been recognized by the internal revenue service (irs) as exempt from federal income taxes under section 501(a) of the internal revenue code as an organization described in section 501(c)(3), which qualifies for the charitable contribution deduction under section 170(b)(1)(a)(vi), and has been determined not to be a private foundation under section 509(a)(1). Artspace is annually required to file a return of organization exempt from income tax (form 990) with the irs. In addition, artspace is subject to income tax on net income that is derived from business activities that are unrelated to their exempt purposes. Artspace has determined that it is not subject to unrelated business income tax and has not filed an exempt organization business income tax return (form 990-t) with the irs. Artspace believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The entities would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred.”

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IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt012
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt04230364
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt012
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/FundraisingAmt0926
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt01057
IRS990/InformationTechnologyGrp/ProgramServicesAmt037773
IRS990/InformationTechnologyGrp/TotalAmt039756
IRS990/InsuranceGrp/FundraisingAmt0771
IRS990/InsuranceGrp/ManagementAndGeneralAmt0881
IRS990/InsuranceGrp/ProgramServicesAmt081464
IRS990/InsuranceGrp/TotalAmt083116
IRS990/IntangibleAssetsGrp/BOYAmt0234069
IRS990/IntangibleAssetsGrp/EOYAmt0216260
IRS990/InterestGrp/FundraisingAmt06734
IRS990/InterestGrp/ManagementAndGeneralAmt07687
IRS990/InterestGrp/ProgramServicesAmt0855712
IRS990/InterestGrp/TotalAmt0870133
IRS990/InvestmentIncomeGrp/ExclusionAmt02973
IRS990/InvestmentIncomeGrp/RelatedOrExemptFuncIncomeAmt0115060
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0118033
IRS990/InvestmentInJointVentureInd01
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IRS990/InvestmentsProgramRelatedGrp/EOYAmt0373794
IRS990/IRPDocumentCnt06
IRS990/IRPDocumentW2GCnt00
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt025202030
IRS990/LandBldgEquipCostOrOtherBssAmt041891114
IRS990/LegalDomicileStateCd0UT
IRS990/LoanOutstandingInd01
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt01000000
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd00
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ARTSPACE CREATES AFFORDABLE LIVING AND WORK SPACE FOR ARTISTS, CULTURAL ORGANIZATIONS, NON-PROFITS AND OTHERS TO REVITALIZE AND PROMOTE STABLE, VIBRANT AND SAFE COMMUNITIES. ARTSPACE ALSO UTILIZES NEW MARKETS TAX CREDITS IN LOW INCOME COMMUNITIES.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt020185656
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt019993048
IRS990/NetAssetsOrFundBalancesBOYAmt019172441
IRS990/NetAssetsOrFundBalancesEOYAmt019298780
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/FundraisingAmt02708
IRS990/OccupancyGrp/ManagementAndGeneralAmt03090
IRS990/OccupancyGrp/ProgramServicesAmt0646211
IRS990/OccupancyGrp/TotalAmt0652009
IRS990/OfficeExpensesGrp/FundraisingAmt0383
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0437
IRS990/OfficeExpensesGrp/ProgramServicesAmt011584
IRS990/OfficeExpensesGrp/TotalAmt012404
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt03090327
IRS990/OtherAssetsTotalGrp/EOYAmt01371157
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01887
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02154
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt020403
IRS990/OtherEmployeeBenefitsGrp/TotalAmt024444
IRS990/OtherExpensesGrp/Desc0PROPERTY MANAGEMENT FEE
IRS990/OtherExpensesGrp/Desc1HOA DUES
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/Desc3OTHER
IRS990/OtherExpensesGrp/FundraisingAmt06511
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07433
IRS990/OtherExpensesGrp/ProgramServicesAmt0174983
IRS990/OtherExpensesGrp/ProgramServicesAmt1162624
IRS990/OtherExpensesGrp/ProgramServicesAmt242520
IRS990/OtherExpensesGrp/ProgramServicesAmt35382
IRS990/OtherExpensesGrp/TotalAmt0174983
IRS990/OtherExpensesGrp/TotalAmt1162624
IRS990/OtherExpensesGrp/TotalAmt256464
IRS990/OtherExpensesGrp/TotalAmt35382
IRS990/OtherLiabilitiesGrp/BOYAmt0279966
IRS990/OtherLiabilitiesGrp/EOYAmt0446263
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt024951
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt028479
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0348471
IRS990/OtherSalariesAndWagesGrp/TotalAmt0401901
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt06612587
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt06222368
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt05983
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06830
IRS990/PayrollTaxesGrp/ProgramServicesAmt039805
IRS990/PayrollTaxesGrp/TotalAmt052618
IRS990/PensionPlanContributionsGrp/FundraisingAmt01171
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt01336
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03635
IRS990/PensionPlanContributionsGrp/TotalAmt06142
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt040000
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt050800
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt063988
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt061649
IRS990/PrincipalOfficerNm0JESSICA NORIE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0531110
IRS990/ProgramServiceRevenueGrp/BusinessCd1531390
IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0RENTAL REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1OTHER
IRS990/ProgramServiceRevenueGrp/Desc2MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt03281468
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1292827
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2165000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt03281468
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1292827
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2165000
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01178452
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01087604
IRS990/PYOtherExpensesAmt03212571
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt03927092
IRS990/PYRevenuesLessExpensesAmt02212981
IRS990/PYSalariesCompEmpBnftPaidAmt0767596
IRS990/PYTotalExpensesAmt03980167
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt06193148
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt05149541
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt05181539
IRS990/ReconcilationRevenueExpnssAmt0126339
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt03854355
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0528050
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01304691
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0373036
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01178452
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01407864
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0601755
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0606680
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt04167787
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02973
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02282
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0174923
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0165203
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0161165
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0506546
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt027311144
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.58230
IRS990ScheduleA/PublicSupportPY170Pct00.56520
IRS990ScheduleA/PublicSupportTotal170Amt02722091
IRS990ScheduleA/SubstantialContributorsTotAmt01445696
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0373036
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01178452
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01407864
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0601755
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0606680
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04167787
IRS990ScheduleA/TotalSupportAmt04674333
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt021502617
IRS990ScheduleD/BuildingsGrp/DepreciationAmt015068163
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt036570780
IRS990ScheduleD/EquipmentGrp/BookValueAmt0208540
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01087420
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01295960
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt03259100
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt03259100
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0231773
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0533501
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0765274
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0260313
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt118359
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2167591
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSIT LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CONSTRUCTION COSTS PAYABLE
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ARTSPACE IS ORGANIZED AS A UTAH NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE (IRS) AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), WHICH QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A)(VI), AND HAS BEEN DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). ARTSPACE IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, ARTSPACE IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. ARTSPACE HAS DETERMINED THAT IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. ARTSPACE BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN AFFECTING ITS ANNUAL FILING REQUIREMENTS, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. THE ENTITIES WOULD RECOGNIZE FUTURE ACCRUED INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS AND LIABILITIES IN INCOME TAX EXPENSE IF SUCH INTEREST AND PENALTIES ARE INCURRED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt025202030
IRS990ScheduleD/TotalLiabilityAmt0446263
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$39,984,288
Liabilities
$20,685,508
Net assets
$19,298,780
Revenue
$4,230,364
Expenses
$4,104,025
Net income
$126,339
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.5$11.3$20.2$5.91$6.05$0.14
2023Detailed filing. Detailed filing data is available for this year.$32.3$12.1$20.3$6.09$6.15$0.06
2022Detailed filing. Detailed filing data is available for this year.$35.2$14.8$20.3$7.54$5.15$2.39
2021Detailed filing. Detailed filing data is available for this year.$34.1$15.8$18.2$4.83$4.86$0.03
2020Detailed filing. Detailed filing data is available for this year.$35.0$16.8$18.2$4.81$4.60$0.22
2019Detailed filing. Detailed filing data is available for this year.$35.6$17.6$18.0$5.45$4.65$0.80
2018Detailed filing. Detailed filing data is available for this year.$39.4$20.0$19.5$4.39$4.22$0.17
2017Detailed filing. Detailed filing data is available for this year.$40.0$20.7$19.3$4.23$4.10$0.13
2016Detailed filing. Detailed filing data is available for this year.$40.9$21.7$19.2$6.19$3.98$2.21
2015Detailed filing. Detailed filing data is available for this year.$36.1$19.3$16.8$11.9$4.23$7.69
2014Detailed filing. Detailed filing data is available for this year.$52.8$45.8$6.97$5.21$6.02$0.81
2013Detailed filing. Detailed filing data is available for this year.$54.3$46.5$7.78$4.46$5.33$0.87
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$56.3$47.7$8.63$5.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.1$2.06$10.1$1.89
2010Summary only. Only limited summary data is available for this year.$42.6$34.5$8.15$0.69$1.13$0.45