3arts Inc
- Assets
- $10.8m
- Revenue
- $2.4m
- Investments
- $265.0k
- Employees
- 5
- Location
- Chicago, IL
- Founding
- 06/2005
- Data as of
- 12/2022
- EIN
- 36-1867637
Organization Overview
3arts Inc is located in Chicago, IL. The organization was established in 2005. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, 3arts Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. 3arts 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 12/2022, 3arts Inc generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.6% each year . All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 6.6% per year over the past 8 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.
Since 2015, 3arts Inc has awarded 52 individual grants totaling $711,305. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOUNDED IN 1912, WITH A HISTORY CENTERED ON WOMEN ARTISTS, 3ARTS IS A NONPROFIT ORGANIZATION THAT SUPPORTS ARTISTS WORKING IN THE PERFORMING, TEACHING, AND VISUAL ARTS IN THE CHICAGO METROPOLITAN AREA, INCLUDING WOMEN ARTISTS, ARTISTS OF COLOR, AND DEAF AND DISABLED ARTISTS. BY PROVIDING UNRESTRICTED AWARDS, PROJECT FUNDING, RESIDENCIES, PROFESSIONAL DEVELOPMENT, AND PROMOTION, 3ARTS HELPS ARTISTS TAKE RISKS, EXPERIMENT, AND BUILD MOMENTUM IN THEIR CAREERS OVER TIME.
Describe the Organization's Program Activity:
Part 3 - Line 4a
3ARTS AWARDS: 3ARTS PROVIDES THREE TYPES OF UNRESTRICTED AWARDS TO CHICAGO ARTISTS. 3ARTS AWARDS ARE $30,000 GRANTS GIVEN TO 10 ARTISTS ANNUALLY. AWARDEES ARE SELECTED BY NATIONAL JURY PANELS COMPRISED OF LEADERS IN THEIR FIELDS. THE AWARDS PROGRAM IS THE ENTRY POINT TO MULTIYEAR SUPPORT THAT INCLUDES PROJECT FUNDING, PROFESSIONAL DEVELOPMENT, AND RESIDENCY FELLOWSHIPS. EACH NEW 3ARTS AWARDEE PARTICIPATES IN MAKE A WAVE, AN ARTIST-TO-ARTIST GIVING PROGRAM IN WHICH THEY SELECT ANOTHER 10 ARTISTS TO RECEIVE $2,000 GRANTS.THE NEXT LEVEL AWARDS ARE SECOND GRANTS OF $50,000 EACH, GIVEN TO PAST 3ARTS AWARD RECIPIENTS AT CRITICAL JUNCTURES IN THEIR CAREERS. CONTINUED IN SCHEDULE O
.
3AP PROJECT SUPPORT: 3ARTS ARTISTS ARE INVITED TO PARTICIPATE IN 3AP, A UNIQUE CROWDFUNDING PLATFORM THAT SUPPORTS THE CREATION OF 20 NEW ART WORKS ANNUALLY. 3ARTS PAYS FOR 1/3 OF EACH PROJECT'S FUNDING GOAL, PRODUCES PROJECT VIDEO, AND PROVIDES TRAINING IN MARKETING AND FUNDRAISING. TO DATE 3ARTS HAS SUPPORTED MORE THAN 175 NEW ART WORKS. THIS PROGRAM MAINTAINS A 100% SUCCESS RATE WITH ALL ARTISTS REACHING THEIR FUNDING GOAL.
RESIDENCY FELLOWSHIPS: 3ARTS RESIDENCY FELLOWSHIPS PROVIDE ARTISTS WITH UNINTERRUPTED TIME AND SPACE TO FOCUS ON THEIR CREATIVE PROCESSES WITHIN ENVIRONMENTS AND COMMUNITIES THAT ARE RESTORATIVE AND STIMULATING. IN PARTNERSHIP WITH ARTIST COMMUNITIES ALLIANCE, WE OFFER ALL-EXPENSES-PAID FELLOWSHIPS WITH $2,000 HONORARIA AND AIRFARE TO ARTISTS IN OUR NETWORK WHO WANT A CREATIVE SOJOURN TO A PARTNER SITE IN FRANCE, FLORIDA, MAINE, OR CALIFORNIA. IN PARTNERSHIP WITH BODIES OF WORK, A CONSORTIUM THAT INCLUDES THE UNIVERSITY OF ILLINOIS AT CHICAGO, SCHOOL OF THE ART INSTITUTE OF CHICAGO, AND ACCESS LIVING, 3ARTS PROVIDES LOCAL RESIDENCIES FOR DEAF AND DISABLED ARTISTS TO SUPPORT THE CREATION OF NEW WORK, PROFESSIONAL DEVELOPMENT, AND PUBLIC PRESENTATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Dowling Chair | OfficerTrustee | 2 | $0 |
Rose Parisi Vice Chair | OfficerTrustee | 2 | $0 |
Mel Smith Treasurer | OfficerTrustee | 2 | $0 |
Lisa Yun Lee Secretary | OfficerTrustee | 2 | $0 |
Masum Momaya Director | Trustee | 2 | $0 |
Amy Cochran Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $160,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,851,309 |
| Noncash contributions included in lines 1a–1f | $15,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,011,909 |
| Total Program Service Revenue | $0 |
| Investment income | $188,926 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $242,853 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,443,688 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $205,660 |
| Grants and other assistance to domestic individuals. | $715,457 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $302,837 |
| Compensation of current officers, directors, key employees. | $58,467 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $158,030 |
| Pension plan accruals and contributions | $5,334 |
| Other employee benefits | $30,928 |
| Payroll taxes | $30,739 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $35,981 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,184 |
| Advertising and promotion | $46,829 |
| Office expenses | $4,548 |
| Information technology | $59,174 |
| Royalties | $0 |
| Occupancy | $8,869 |
| Travel | $946 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,020 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $854 |
| Insurance | $3,243 |
| All other expenses | $3,646 |
| Total functional expenses | $1,656,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $417,364 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $872,880 |
| 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 | $9,915 |
| Net Land, buildings, and equipment | $2,761 |
| Investments—publicly traded securities | $9,194,390 |
| Investments—other securities | $265,025 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,762,335 |
| Accounts payable and accrued expenses | $17,040 |
| 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 | $17,040 |
| Net assets without donor restrictions | $9,545,017 |
| Net assets with donor restrictions | $1,200,278 |
| 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 | $10,762,335 |
Grants Awarded
Over the last fiscal year, 3arts Inc has awarded $96,584 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL LEAD FOR AMERICA INC PURPOSE: Special Projects | $16,684 |
BODIES OF WORK PURPOSE: Residency Fellowships | $19,400 |
ARTIST COMMUNITIES ALLIANCE PURPOSE: Residency Fellowships | $33,500 |
FREE STREET THEATER PURPOSE: Special Projects | $15,000 |
UKRAINIAN INSTITUTE OF MODERN ART PURPOSE: Special Projects | $12,000 |