Detroit Artists Market
- Assets
- $358.4k
- Revenue
- $246.3k
- Investments
- $160.6k
- Employees
- 4
- Location
- Detroit, MI
- Founding
- 11/1938
- Data as of
- 07/2022
- EIN
- 38-1539993
Organization Overview
Detroit Artists Market is located in Detroit, MI. The organization was established in 1938. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2022, Detroit Artists Market employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit Artists Market 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 07/2022, Detroit Artists Market generated $246.3k 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 (6.3%) each year. All expenses for the organization totaled $311.4k during the year ending 07/2022. As we would expect to see with falling revenues, expenses have declined by (4.2%) 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTING AND EXHIBITING WORK OF SOUTHEASTERN MICHIGAN ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING AND EXHIBITING WORK OF SOUTHEASTERN MICHIGAN ARTISTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Fry Director | Trustee | 40 | $71,570 |
Nancy Cummins Chair | OfficerTrustee | 1 | $0 |
Meighen Jackson Committee Ch | OfficerTrustee | 1 | $0 |
Effie Steele Coa Chair | OfficerTrustee | 1 | $0 |
Doug Mcelroy Treasurer | OfficerTrustee | 1 | $0 |
Kate Baker Vice Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $24,295 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,280 |
| All other contributions, gifts, grants, and similar amounts not included above | $167,729 |
| Noncash contributions included in lines 1a–1f | $5,632 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $208,304 |
| Total Program Service Revenue | $0 |
| Investment income | $591 |
| 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 | $37,383 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $246,278 |
| 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. | $71,570 |
| Compensation of current officers, directors, key employees. | $7,157 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $58,793 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,445 |
| Payroll taxes | $9,973 |
| 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 | $22,905 |
| Advertising and promotion | $1,665 |
| Office expenses | $3,767 |
| Information technology | $9,174 |
| Royalties | $0 |
| Occupancy | $52,298 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,409 |
| Insurance | $7,215 |
| All other expenses | $0 |
| Total functional expenses | $311,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,084 |
| Savings and temporary cash investments | $48,124 |
| Pledges and grants receivable | $56,919 |
| Accounts receivable, net | $5,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,060 |
| Prepaid expenses and deferred charges | $4,306 |
| Net Land, buildings, and equipment | $13,110 |
| Investments—publicly traded securities | $13,702 |
| Investments—other securities | $160,579 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,000 |
| Total assets | $358,384 |
| Accounts payable and accrued expenses | $3,470 |
| 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 | $1,727 |
| Total liabilities | $5,197 |
| Net assets without donor restrictions | $304,729 |
| Net assets with donor restrictions | $48,458 |
| 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 | $358,384 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Detroit Artists Market has recieved totaling $131,607.
| Awarding Organization | Amount |
|---|---|
Robert H Tannahill Foundation Detroit, MI PURPOSE: GENERAL OPERATIONS | $77,500 |
Community Foundation For Southeast Michigan Detroit, MI PURPOSE: GENERAL OPERATIONS | $30,080 |
Hudson-Webber Foundation Detroit, MI PURPOSE: DETROIT ART SUPPORT 2019-2021 | $10,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT PROVIDES GENERAL OPERATING SUPPORT TO DETROIT ARTISTS MARKET AS PART OF ROUND 6 OF THE DETROIT ARTS SUPPORT (DAS) INITIATIVE, WHICH PROVIDES UNRESTRICTED SUPPORT TO ARTS AND CULTURE ORGANIZATIONS OF ALL DISCIPLINES AND SIZES ACROSS THE METROPOLITAN DETROIT AREA. | $10,000 |
Benson & Edith Ford Fund Detroit, MI PURPOSE: DAM ANNUAL FUND | $3,000 |
William & Martha Ford Fund Detroit, MI PURPOSE: DAM ANNUAL FUND | $1,000 |
Endowment Analysis
| Beg. Balance | $809,126 |
| Earnings | -$60,999 |
| Grants | -$31,184 |
| Ending Balance | $716,943 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Eau Claire Confluence Arts Inc Eau Claire, WI | $54,912,960 | $2,573,269 |
Saveartspace Grand Blanc, MI | $216,862 | $790,017 |
Newark Sport And Event Commission Newark, OH | $1,160,361 | $569,037 |
Passion Works Athens, OH | $255,327 | $633,062 |
De Pere Cultural Foundation Inc De Pere, WI | $53,635,326 | $47,909,418 |
Express Yourself Milwaukee Inc Milwaukee, WI | $0 | $354,864 |
Nickel Plate Arts Inc Noblesville, IN | $138,591 | $422,458 |
Sew Valley Cincinnati, OH | $109,676 | $391,797 |
Zygote Press Inc Cleveland, OH | $317,709 | $287,825 |
Detroit Artists Market Detroit, MI | $358,384 | $246,278 |
Hoosier Salon Patrons Association Indianapolis, IN | $235,840 | $346,649 |
Society For History And Racial Equity Kalamazoo, MI | $415,846 | $379,398 |