The Studios Of Key West Inc
- Assets
- $14.0m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Key West, FL
- Founding
- 04/2007
- Data as of
- 06/2021
- EIN
- 20-5116495
Organization Overview
The Studios Of Key West Inc is located in Key West, FL. The organization was established in 2007. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Studios Of Key West Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studios Of Key West Inc 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 06/2021, Studios Of Key West Inc generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.3% each year . All expenses for the organization totaled $1.5m during the year ending 06/2021. While expenses have increased by 1.2% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE ROLE OF ARTISTS, CREATIVE EDUCATORS, AND CULTURAL PRODUCERS IN KEY WEST, FLORIDA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPED, PROMOTED, AND PRODUCED CULTURAL, PROGRAMMING, AND ART EDUCATION FOR THE COMMUNITY, PRESENTED EXHIBITIONS, HUMANITIES LECTURES, FILM, THEATER, AND MUSIC EVENTS, HOSTING VISITING ARTISTS IN RESIDENCE, OFFERED PROFESSIONAL DEVELOPMENT OPPORTUNITIES FOR LOCAL CREATIVE PRACTITIONERS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John E Dodds Executive Director | Officer | 50 | $102,919 |
Eric Anfinson Vice President | OfficerTrustee | 2 | $4,350 |
Camila Duke Member | Trustee | 2 | $2,686 |
Stephen Kitsakos President | OfficerTrustee | 20 | $1,728 |
Richard Mcchesney Vice President | OfficerTrustee | 5 | $0 |
Paula Tishok Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,095 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,564,711 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,820,842 |
| Noncash contributions included in lines 1a–1f | $54,250 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,420,648 |
| Total Program Service Revenue | $295,056 |
| Investment income | $211 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $55,039 |
| Net Gain/Loss on Asset Sales | $39,093 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $7,504 |
| Net Income from Sales of Inventory | $88,909 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,906,460 |
| 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. | $117,000 |
| Compensation of current officers, directors, key employees. | $19,646 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $307,076 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,391 |
| Payroll taxes | $39,414 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $44,218 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,600 |
| Advertising and promotion | $63,148 |
| Office expenses | $24,760 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $144,176 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $84,967 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $348,553 |
| Insurance | $29,487 |
| All other expenses | $22,413 |
| Total functional expenses | $1,525,214 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,215,718 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $422,500 |
| Accounts receivable, net | $16,719 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $117,897 |
| Prepaid expenses and deferred charges | $45,772 |
| Net Land, buildings, and equipment | $11,106,944 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,058,854 |
| Total assets | $13,984,404 |
| Accounts payable and accrued expenses | $173,666 |
| Grants payable | $0 |
| Deferred revenue | $39,095 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $25,000 |
| Secured mortgages and notes payable | $1,752,466 |
| Unsecured mortgages and notes payable | $115,600 |
| Other liabilities | $31,712 |
| Total liabilities | $2,137,539 |
| Net assets without donor restrictions | $9,939,377 |
| Net assets with donor restrictions | $1,907,488 |
| 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 | $13,984,404 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that The Studios Of Key West Inc has recieved totaling $28,859.
| Awarding Organization | Amount |
|---|---|
Harry & Harriet Ruchman Charitable Foundation Inc Key West, FL PURPOSE: GENERAL FUNDS | $21,359 |
Sms Foundation Inc Madison, WI PURPOSE: PROVIDE A SUPPORTIVE ENVIRONMENT FOR CREATIVE EXPERIENCE | $5,000 |
Harry & Harriet Ruchman Charitable Foundation Inc Key West, FL PURPOSE: GENERAL FUNDS | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Professional Photographers Of America Inc Atlanta, GA | $48,960,545 | $12,325,076 |
Georgia Association Of Manufacturers Inc Atlanta, GA | $2,700,140 | $2,292,406 |
Two Red Roses Foundation Inc St Petersburg, FL | $81,826,203 | $5,214,247 |
The Armory Art Center Inc West Palm Beach, FL | $4,340,445 | $2,084,067 |
Forward Arts Foundation Inc Atlanta, GA | $5,240,641 | $1,648,904 |
Lighthouse Artcenter Inc Tequesta, FL | $3,825,019 | $2,482,262 |
Robert Craft Igor Stravinsky Foundation boca raton, FL | $11,119,320 | $752,022 |
The Studios Of Key West Inc Key West, FL | $13,984,404 | $3,906,460 |
Palm Beach Photographic Centre Inc West Palm Beach, FL | $1,110,051 | $866,676 |
Bakehouse Art Complex Inc Miami, FL | $1,346,627 | $1,198,887 |
Ann Norton Sculpture Gardens Inc West Palm Beach, FL | $4,892,273 | $1,857,308 |
National Press Photographers Association Inc Athens, GA | $607,292 | $735,008 |