Studio Place Arts Incorporated
- Assets
- $508.4k
- Revenue
- $115.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Barre, VT
- Founding
- 01/1999
- Data as of
- 12/2022
- EIN
- 03-0357848
Organization Overview
Studio Place Arts Incorporated is located in Barre, VT. The organization was established in 1999. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Studio Place Arts Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studio Place Arts Incorporated 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 12/2022, Studio Place Arts Incorporated generated $115.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.8%) each year. All expenses for the organization totaled $123.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (4.0%) per year over the past 7 years. 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
SEE STATEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDIO PLACE ARTS CONDUCTED WORKSHOPS AND CLASSES FOR THE GENERAL PUBLIC ON MAKING ART AND CRAFTS, AND ART LEARNING OPPORTUNITIES THROUGH STUDIO EXPERIENCES AND LECTURES, AND A DIVERSE SCHEDULE OF ART EXHIBITIONS THROUGHOUT THE YEAR IN WHICH ARTISTS WHO CANNOT DISPLAY OR SELL ART IN OTHER FORUMS MAY PARTICIPATE. BEGINNING IN 2015 STUDIO PLACE ARTS HAS A STUDIO RESIDENCE PROGRAM PROVIDING ARTISTS WORKSPACE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Higby Executive Director | Officer | 40 | $49,344 |
Michael Ridge Board Member | Trustee | 2 | $0 |
Janet Van Fleet Board Member | Trustee | 2 | $0 |
Darryl Garland Chair | OfficerTrustee | 2 | $0 |
Jody Brown Treasurersecretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $82,134 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $82,134 |
| Total Program Service Revenue | $29,484 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$2,944 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,036 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $115,772 |
| 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. | $41,942 |
| Compensation of current officers, directors, key employees. | $9,869 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,700 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,677 |
| Payroll taxes | $5,703 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $811 |
| Advertising and promotion | $10,503 |
| Office expenses | $4,420 |
| Information technology | $450 |
| Royalties | $0 |
| Occupancy | $10,937 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,651 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,740 |
| Insurance | $5,038 |
| All other expenses | $941 |
| Total functional expenses | $123,323 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,436 |
| Savings and temporary cash investments | $17,987 |
| Pledges and grants receivable | $0 |
| 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 | $436,010 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $508,433 |
| Accounts payable and accrued expenses | $9,360 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $237,606 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,741 |
| Total liabilities | $251,707 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $256,726 |
| Total liabilities and net assets/fund balances | $508,433 |