Arts & Business Council Of Chicago
- Assets
- $229.9k
- Revenue
- $363.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Chicago, IL
- Founding
- 02/1986
- Data as of
- 12/2021
- EIN
- 36-3376861
Organization Overview
Arts & Business Council Of Chicago is located in Chicago, IL. The organization was established in 1986. According to its NTEE Classification (A02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Arts & Business Council Of Chicago employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arts & Business Council Of Chicago 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, Arts & Business Council Of Chicago generated $363.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $251.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (11.2%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ARTS & BUSINESS COUNCIL OF CHICAGOS MISSION IS TO DEVELOP LEADERSHIP AND ACCELERATE EXCELLENCE IN THE BUSINESS OF ARTS AND ART OF BUSINESS IN CHICAGO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
1) TRAINING INDIVIDUALS LOOKING TO BECOME HIGHLY-QUALIFIED AND SOUGHT-AFTER LEADERS ON BOARDS OF DIRECTORS FOR NONPROFIT ARTS ORGANIZATIONS THROUGHOUT CHICAGO.2) LABS WHICH ARE AN EDUCATIONAL SERIES ON A VARIETY OF ARTS MANAGEMENT TOPICS AND BEST PRACTICES.3) THE FLAGSHIP PROGRAM BUSINESS VOLUNTEERS FOR THE ARTS (BVA) STRENGTHENS NOT FOR PROFIT ARTS AND CULTURAL INSTITUTIONS ORGANIZATIONAL CAPACITY AND EFFECTIVENESS WHILE ENHANCING BUSINESS PROFESSIONALS CORPORATE WORKPLACE PERFORMANCE THROUGH SKILLS-BASED VOLUNTEERING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Larsen Executive Dir. | Officer | 40 | $89,393 |
Robyn Wheeler Chair | OfficerTrustee | 2 | $0 |
Joel Farran Vice Chair | OfficerTrustee | 2 | $0 |
Melissa Elbert Treasurer | OfficerTrustee | 2 | $0 |
Judy Brennan Secretary | OfficerTrustee | 2 | $0 |
Amanda Delheimer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $182,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $173,043 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $355,231 |
| Total Program Service Revenue | $7,125 |
| Investment income | $7 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $363,077 |
| 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. | $89,393 |
| Compensation of current officers, directors, key employees. | $15,197 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,499 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,373 |
| Payroll taxes | $13,475 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,207 |
| Advertising and promotion | $1,491 |
| Office expenses | $14,011 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $777 |
| Travel | $38 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,815 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,231 |
| Insurance | $1,939 |
| All other expenses | $59 |
| Total functional expenses | $251,567 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,941 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $53,650 |
| Accounts receivable, net | $3,627 |
| 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 | $3,427 |
| Net Land, buildings, and equipment | $2,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $229,879 |
| Accounts payable and accrued expenses | $15,261 |
| 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 | $100,868 |
| Unsecured mortgages and notes payable | $217 |
| Other liabilities | $0 |
| Total liabilities | $116,346 |
| Net assets without donor restrictions | $33,200 |
| Net assets with donor restrictions | $80,333 |
| 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 | $229,879 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Arts & Business Council Of Chicago has recieved totaling $144,500.
| Awarding Organization | Amount |
|---|---|
Gaylord And Dorothy Donnelley Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $81,000 |
The Chicago Community Trust Chicago, IL PURPOSE: TO SUPPORT SMART GROWTH, AND A&BC PARTNERSHIP | $50,000 |
Gaylord And Dorothy Donnelley Foundation Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $13,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Alliance Of Theatrical Stage Employees Loc Inc Evansville, IN | $65,099 | $685,363 |
Kentucky Association Of School Councils Danville, KY | $343,943 | $389,226 |
Wisconsin Center For Nursing Inc Milwaukee, WI | $220,551 | $248,313 |
Arts & Business Council Of Chicago Chicago, IL | $229,879 | $363,077 |
Ouiatenon Preserve Inc Lafayette, IN | $525,078 | $189,057 |
Wisconsin Art Education Association Milwaukee, WI | $357,080 | $0 |
Quadrangle Management Company Saint Louis, MO | $10,347,424 | $432,911 |