516 Arts
- Assets
- $1.7m
- Revenue
- $535.0k
- Investments
- $0.0
- Employees
- 9
- Location
- Albuquerque, NM
- Founding
- 07/2007
- Data as of
- 12/2023
- EIN
- 20-8540744
Organization Overview
516 Arts is located in Albuquerque, NM. The organization was established in 2007. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, 516 Arts employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 516 Arts 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 12/2023, 516 Arts generated $535.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $715.7k during the year ending 12/2023. While expenses have increased by 5.3% per year over the past 9 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
516 ARTS FORGES CONNECTIONS BETWEEN ART AND AUDIENCES BY BEING AN ACTIVE PARTNER IN DEVELOPING THE CULTURAL LANDSCAPE OF ALBUQUERQUE AND NEW MEXICO. 516 ARTS OFFERS PROGRAMS INSPIRING CURIOSITY, DIALOGUE, RISK-TAKING AND CREATIVE EXPERIMENTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023, 516 ARTS PRESENTED VISUAL ART EXHIBITIONS, PERFORMANCES, ARTS EVENTS, EDUCATIONAL PROGRAMS, WORKSHOPS AND PUBLIC FORUMS, IN ADDITION TO ARTS ACTIVITIES WITH A REGIONAL COLLABORATION OF LIKE-MINDED ORGANIZATIONS.EDUCATIONAL OUTREACH PROGRAMS CONTINUED TO FLOURISH INCLUDING SCHOOL TOURS, WORKSHOPS, AND ART EDUCATION CURRICULUM FOR TEACHERS. EXHIBITS AND PROGRAMMING REACHED A TOTAL DIRECT AUDIENCE OF OVER 8,000 INDIVIDUALS AND AN INDIRECT AUDIENCE OF OVER 100,000 WHO PARTICIPATED IN SOCIAL MEDIA OR WEREEXPOSED TO MURALS, RADIO AND TV INTERVIEWS AND MEDIA COVERAGE OF 516 ARTS.OUR 2023 AUDIENCE MIRRORED THE UNIQUE ETHNIC, SOCIO-ECONOMIC AND CULTURAL MIX OF NEW MEXICO AND WE ACTIVELY REACHED OUT TO THESE POPULATIONS THROUGH VARIED PROGRAM THEMES, PARTNERSHIPS WITH ARTS AND COMMUNITY ORGANIZATIONS, TARGETED MARKETING, FREE ADMISSION AND OUTREACH PROGRAMS AROUND EACH EXHIBITION.
FULCRUM FUND516 ARTS' FULCRUM FUND GRANT PROGRAM, PART OF THE REGIONAL REGRANTING PROGRAM OF THE ANDY WARHOL FOUNDATION FOR THE VISUAL ARTS, PROVIDES GRANTS TO INDIVIDUAL, UNINCORPORATED, LOCAL ARTISTS FOR THEIR OWN INDEPENDENT ART PROJECTS. 516 ARTS ADMINISTERS AN ANNUAL PROCESS THAT INCLUDES A CALL FOR PROPOSALS AND SELECTION BY GUEST JURORS. THIS PROGRAM AIMS SERVE AS SPRINGBOARDS FOR ARTISTIC PROCESSES THAT ARE ADVENTUROUS, EXPERIMENTAL AND FORWARD THINKING, WHILE CELEBRATING PROJECTS THAT DO NOT FIT INTO THE TRADITIONAL MUSEUM AND GALLERY SYSTEMS.
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 |
|---|---|---|---|
Suzanne Sbarge Past Pres/ed | OfficerTrustee | 40 | $81,800 |
April Chalay Interim Pres/ed | OfficerTrustee | 40 | $38,726 |
Danny Lopez Past Chair | OfficerTrustee | 10 | $0 |
Tim Price Chair | OfficerTrustee | 1 | $0 |
Lauren Tresp Past Vice Pres | OfficerTrustee | 1 | $0 |
Rebecca Black Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $4,882 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,905 |
| All other contributions, gifts, grants, and similar amounts not included above | $433,323 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $515,110 |
| Total Program Service Revenue | $18,895 |
| 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 | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,008 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $535,013 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $88,050 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $129,652 |
| Compensation of current officers, directors, key employees. | $45,137 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $234,472 |
| Pension plan accruals and contributions | $5,395 |
| Other employee benefits | $24,251 |
| Payroll taxes | $28,519 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,103 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $5,360 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $48,535 |
| Advertising and promotion | $7,636 |
| Office expenses | $2,209 |
| Information technology | $10,532 |
| Royalties | $0 |
| Occupancy | $39,611 |
| Travel | $7,904 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,954 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,021 |
| Insurance | $11,689 |
| All other expenses | $18,313 |
| Total functional expenses | $715,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,334 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $586,230 |
| 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 | $879,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,687,464 |
| Accounts payable and accrued expenses | $35,788 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $140,702 |
| Other liabilities | $0 |
| Total liabilities | $176,490 |
| Net assets without donor restrictions | $990,974 |
| Net assets with donor restrictions | $520,000 |
| 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 | $1,687,464 |