Elastic Arts Foundation
- Assets
- $437.2k
- Revenue
- $627.1k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 02/2004
- Data as of
- 08/2023
- EIN
- 02-0645505
Organization Overview
Elastic Arts Foundation is located in Chicago, IL. The organization was established in 2004. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2023, Elastic Arts Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elastic Arts Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2023, Elastic Arts Foundation generated $627.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 18.2% each year . All expenses for the organization totaled $488.2k during the year ending 08/2023. While expenses have increased by 12.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ELASTIC ARTS FOSTERS A COMMUNITY OF MUSICIANS AND ARTISTS IN THE AVONDALE/LOGAN SQUARE NEIGHBORHOOD OF CHICAGO BY DEVELOPING AND PRESENTING CREATIVE AND INDEPENDENT MUSIC, ART, AND PERFORMANCE EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1) PRODUCTION AND PRESENTATION OF APPROXIMATELY 200 MUSIC CONCERTS, PERFORMANCES, AND ARTS EVENTS, OPEN TO THE GENERAL PUBLIC. 2) RENTAL OF PERFORMANCE SPACE TO LOCAL ARTISTS FOR A NOMINAL FEE, 3) DEVELOPMENT OF RESIDENCY PROGRAMS FOR EMERGING CHICAGO ARTISTS AND CURATORS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Adam Zanolini Executive Dir. | Officer | 40 | $68,717 |
Irmi Maunu-Kocian Co-President | OfficerTrustee | 5 | $0 |
Cristal Sabbagh Co-President | OfficerTrustee | 5 | $0 |
Katinka Kleijn Co-President | OfficerTrustee | 5 | $0 |
Daniel F Schwarzlose Secretary | OfficerTrustee | 5 | $0 |
Trea Fotidzis Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $92,788 |
| All other contributions, gifts, grants, and similar amounts not included above | $347,599 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $440,387 |
| Total Program Service Revenue | $165,491 |
| Investment income | $1,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,781 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $627,092 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $68,717 |
| Compensation of current officers, directors, key employees. | $6,872 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,088 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,425 |
| Payroll taxes | $11,867 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $216,348 |
| Advertising and promotion | $5,854 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,504 |
| Travel | $3,700 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,135 |
| Insurance | $5,318 |
| All other expenses | $4,492 |
| Total functional expenses | $488,198 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,089 |
| Savings and temporary cash investments | $101,854 |
| Pledges and grants receivable | $144,665 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,219 |
| Net Land, buildings, and equipment | $11,367 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,001 |
| Total assets | $437,195 |
| Accounts payable and accrued expenses | $11,623 |
| Grants payable | $0 |
| Deferred revenue | $13,117 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $24,740 |
| Net assets without donor restrictions | $193,138 |
| Net assets with donor restrictions | $219,317 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $437,195 |