Elastic Arts Foundation
- Assets
- $287.1k
- Revenue
- $470.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 02/2004
- Data as of
- 08/2022
- 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 08/2022, 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 08/2022, Elastic Arts Foundation generated $470.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $413.4k during the year ending 08/2022. While expenses have increased by 9.8% per year over the past 7 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
2022
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 | $65,300 |
David Rempis President | OfficerTrustee | 5 | $0 |
Daniel F Schwarzlose Secretary | OfficerTrustee | 5 | $0 |
Trea Fotidzis Treasurer | OfficerTrustee | 5 | $0 |
Latoya Hunter Trustee | Trustee | 5 | $0 |
Irmi Maunu-Kocian Trustee | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $183,559 |
| All other contributions, gifts, grants, and similar amounts not included above | $127,831 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $311,390 |
| Total Program Service Revenue | $144,406 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $14,963 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $470,759 |
| 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. | $65,300 |
| Compensation of current officers, directors, key employees. | $6,530 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $43,392 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,613 |
| Payroll taxes | $9,150 |
| 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 | $184,516 |
| Advertising and promotion | $1,604 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,635 |
| Travel | $1,724 |
| 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 | $5,013 |
| All other expenses | $2,222 |
| Total functional expenses | $413,359 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $192,387 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $73,169 |
| 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 | $0 |
| Net Land, buildings, and equipment | $18,503 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $287,059 |
| Accounts payable and accrued expenses | $5,317 |
| Grants payable | $0 |
| Deferred revenue | $8,181 |
| 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 | $13,498 |
| Net assets without donor restrictions | $178,166 |
| Net assets with donor restrictions | $95,395 |
| 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 | $287,059 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Elastic Arts Foundation has recieved totaling $50,005.
| Awarding Organization | Amount |
|---|---|
Walder Family Foundation Wilmington, DE PURPOSE: CHICAGO TAKES 10 | $15,000 |
Joyce Foundation Chicago, IL PURPOSE: CULTURE | $10,000 |
Walder Family Foundation Wilmington, DE PURPOSE: CHICAGO TAKES 10 | $10,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: TO SUPPORT THE ELASTIC ARTS FOUNDATION AS IT CONVENES A VIRTUAL REUNION EVENT TO MARK THE ONE-YEAR ANNIVERSARY OF ITS IMPROVISED MUSIC EXCHANGE BETWEEN MEXICO CITY AND CHICAGO. | $5,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: TO SUPPORT THE ELASTIC ARTS FOUNDATION AS IT CONVENES A VIRTUAL REUNION EVENT TO MARK THE ONE-YEAR ANNIVERSARY OF ITS IMPROVISED MUSIC EXCHANGE BETWEEN MEXICO CITY AND CHICAGO. | $5,000 |
John D & Catherine T Macarthur Foundation Chicago, IL PURPOSE: TO SUPPORT THE ELASTIC ARTS FOUNDATION AS IT CONVENES A VIRTUAL REUNION EVENT TO MARK THE ONE-YEAR ANNIVERSARY OF ITS IMPROVISED MUSIC EXCHANGE BETWEEN MEXICO CITY AND CHICAGO | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa County Recorders Association Ottumwa, IA | $2,929,223 | $39,789,803 |
Milwaukee World Festival Inc Milwaukee, WI | $107,459,917 | $5,773,948 |
Grant Park Orchestral Association Chicago, IL | $15,259,948 | $7,547,765 |
Jazz St Louis St Louis, MO | $11,818,193 | $2,884,733 |
Chicago Sinfonietta Inc Chicago, IL | $3,675,444 | $3,506,738 |
Ragtag Film Society Columbia, MO | $1,382,564 | $1,866,748 |
Percussive Arts Society Inc Indianapolis, IN | $5,047,679 | $2,367,696 |
Music Of The Baroque Concert Series Inc Chicago, IL | $2,610,285 | $1,900,263 |
Radio Arts Foundation Clayton, MO | $3,517,540 | $1,458,263 |
Great American Songbook Foundation Inc Carmel, IN | $8,944,393 | $1,441,715 |
Glenview Stars Hockey Assn 5 Glenview Ice Center Glenview, IL | $561,491 | $1,280,609 |
Saturday In The Park Inc Sioux City, IA | $111,911 | $911,266 |