Artists Cooperative Residency And Exhibitions Project
- Assets
- $249.4k
- Revenue
- $356.5k
- Investments
- $0.0
- Employees
- 4
- Location
- Chicago, IL
- Founding
- 05/2012
- Data as of
- 12/2021
- EIN
- 27-2325908
Organization Overview
Artists Cooperative Residency And Exhibitions Project is located in Chicago, IL. The organization was established in 2012. 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 12/2021, Artists Cooperative Residency And Exhibitions Project employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Artists Cooperative Residency And Exhibitions Project 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 12/2021, Artists Cooperative Residency And Exhibitions Project generated $356.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $373.2k during the year ending 12/2021. While expenses have increased by 14.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP ARTISTS DEVELOP, PRESENT AND DISCUSS THEIR PRACTICES BY PROVIDING FORUMS FOR IDEA EXCHANGE, INTERDISCIPLINARY COLLABORATION AND EXPERIMENTAL PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE THE ARTISTS COMMUNITY WITH AN AFFORABLE, COOPERATIVE, AND DIALOUGE-ORIENTED RESIDENCY PROGRAM, INCLUDING WORK SPACE, SCREEN-PRINTING STUDIO, OUTDOOR WOOD SHOP, ART AND TECH FACILITY, SOUND STUDIO, FIBERS STUDIO AND CERAMICS STUDIO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kate Bowen Executive Dir. | Officer | 40 | $40,000 |
Lena Singer Co-Secretary | OfficerTrustee | 4 | $0 |
Lynette Miranda Co-Chair | OfficerTrustee | 4 | $0 |
Raven Munsell Co-Secretary | OfficerTrustee | 4 | $0 |
Latham Zearfoss Co-Chair | OfficerTrustee | 4 | $0 |
Charles Long Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,304 |
| Related organizations | $0 |
| Government grants | $63,357 |
| All other contributions, gifts, grants, and similar amounts not included above | $201,043 |
| Noncash contributions included in lines 1a–1f | $2,966 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $265,704 |
| Total Program Service Revenue | $69,172 |
| Investment income | $11 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,943 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $356,514 |
| 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. | $40,000 |
| Compensation of current officers, directors, key employees. | $7,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $56,666 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $16,568 |
| Payroll taxes | $8,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,000 |
| Fees for services: Accounting | $3,423 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,745 |
| Advertising and promotion | $106 |
| Office expenses | $85 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,654 |
| Travel | $21,297 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $258 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,383 |
| Insurance | $6,691 |
| All other expenses | $7,460 |
| Total functional expenses | $373,201 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $155,876 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $17,400 |
| 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 | $3,915 |
| Net Land, buildings, and equipment | $71,330 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $900 |
| Total assets | $249,421 |
| Accounts payable and accrued expenses | $900 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $900 |
| Net assets without donor restrictions | $169,354 |
| Net assets with donor restrictions | $79,167 |
| 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 | $249,421 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Artists Cooperative Residency And Exhibitions Project has recieved totaling $68,041.
| Awarding Organization | Amount |
|---|---|
Walder Family Foundation Wilmington, DE PURPOSE: CHICAGO ARTS CENSUS | $50,000 |
Amalgamated Charitable Foundation Inc Washington, DC PURPOSE: General operating support | $10,000 |
Hyde Park Art Center Chicago, IL PURPOSE: PROVIDES ARTIST-RUN INITIATIVES, COLLABORATIONS, AND INDEPENDENT ORGANIZATIONS WITH FLEXIBLE FUNDING TO PURSUE THEIR UNIQUE VISIONS. | $8,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $41 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chicago Architecture Foundation Chicago, IL | $18,456,323 | $14,699,492 |
Fenestration And Glazing Industry Alliance Schaumburg, IL | $6,384,205 | $4,966,632 |
Fibre Box Association Itasca, IL | $1,560,987 | $3,611,412 |
Hyde Park Art Center Chicago, IL | $13,112,741 | $7,741,893 |
Master Craftsmen Foundation Kansas City, MO | $0 | $269 |
Arts Club Of Chicago Chicago, IL | $22,777,301 | $152,339 |
Graham Foundation For Advanced Studies In The Fine Arts Chicago, IL | $0 | $687,158 |
Midwest Old Settlers And Threshers Assn Inc Mt Pleasant, IA | $5,724,252 | $3,761,020 |
Laumeier Sculpture Park St Louis, MO | $5,586,221 | $2,296,143 |
Craft Alliance St Louis, MO | $3,775,459 | $2,483,894 |
Lillian Florsheim Foundation for Fine Arts Chicago, IL | $0 | $525,901 |
Intuit The Center For Intuitive And Outside Art Chicago, IL | $2,150,549 | $1,698,097 |