Studio 23
- Assets
- $1.4m
- Revenue
- $400.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Bay City, MI
- Founding
- 09/1963
- Data as of
- 12/2021
- EIN
- 38-1704855
Organization Overview
Studio 23 is located in Bay City, MI. The organization was established in 1963. 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, Studio 23 employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Studio 23 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, Studio 23 generated $400.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.5% each year. All expenses for the organization totaled $374.0k during the year ending 12/2021. While expenses have increased by 6.1% 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 PROVIDE THE BAY AREA WITH A VISUAL ARTS CENTER AND EMBRACE CREATIVE EDUCATIONAL ACTIVITES INVOLVING THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDIO 23 HAS TWO GRAND EXHIBIT SPACES WHERE THE WORKS OF LOCAL, STATEWIDE, AND NATIONAL ARTISTS ARE EXHIBITED THROUGHOUT THE YEAR. WE HOLD MULTIPLE CULTURAL AND VARIOUS MEDIUM EXHIBITS INCLUDING DIGITAL PHOTOGRAPHY, TRADITIONAL BLACK AND WHITE PHOTOGRAPHY, PAINTING, SCULPTURE, AND PRINTMAKING. STUDIO 23 OFFERS A WIDE RANGE OF CLASSES FROM YOUTH ORIENTED THROUGH ADULT EXPLORATION. FROM DRAWING TO PAINTING, JEWELRY MAKING TO MOSAICS, SCULPTURE TO CLAY IN OUR STATE-OF-THE-ART CLAY STUDIO. STUDIO 23 HAS SOMETHING AVAILABLE FOR EVERY MEMBER OF YOUR FAMILY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tara Welch Executive Director | Officer | 40 | $57,792 |
Dr Fran Santoro Secretary | OfficerTrustee | 1 | $0 |
Jennifer Paradise President | OfficerTrustee | 1 | $0 |
Sarah Dandamudi Immediate Past President | OfficerTrustee | 1 | $0 |
David Mikolajczak Treasurer | OfficerTrustee | 1 | $0 |
Kelly Rosecrans Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,875 |
| All other contributions, gifts, grants, and similar amounts not included above | $159,240 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $185,115 |
| Total Program Service Revenue | $178,670 |
| Investment income | $4,115 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $515 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $23,480 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $400,655 |
| 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. | $57,792 |
| Compensation of current officers, directors, key employees. | $28,896 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $73,645 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,428 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,514 |
| Office expenses | $12,537 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,593 |
| Travel | $74 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,415 |
| Interest | $7,522 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $51,876 |
| Insurance | $7,850 |
| All other expenses | $22,282 |
| Total functional expenses | $374,021 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,484 |
| Savings and temporary cash investments | $398,861 |
| Pledges and grants receivable | $91,762 |
| Accounts receivable, net | $571 |
| 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 | $763,826 |
| Investments—publicly traded securities | $17,276 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $63,656 |
| Total assets | $1,361,436 |
| Accounts payable and accrued expenses | $19,071 |
| Grants payable | $0 |
| Deferred revenue | $16,350 |
| 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 | $119,824 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $155,245 |
| Net assets without donor restrictions | $1,196,191 |
| Net assets with donor restrictions | $10,000 |
| 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 | $1,361,436 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Studio 23 has recieved totaling $101,685.
| Awarding Organization | Amount |
|---|---|
Bay Area Community Foundation Bay City, MI PURPOSE: 2021 FUND DISTRIBUTION, GIVE LOCAL BAY 2021 DISTRIBUTION, ARTIST IN RESIDENCE PROGRAM | $77,628 |
Russell H & Maxine E Smith Charitable Foundation Bay City, MI PURPOSE: GRANT FOR CLASSROOM/STUDIO RENOVATION | $20,000 |
Allison K Short Foundation Bay City, MI PURPOSE: OPERATIONS | $4,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $57 |
Endowment Analysis
| Beg. Balance | $56,230 |
| Earnings | $7,852 |
| Admin Expense | $2,173 |
| Ending Balance | $61,909 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Credit Unions Chartered In The State Of Michigan Plymouth, MI | $1,253,139,306 | $61,092,324 |
Painting Industry Insurance Fund Strongsville, OH | $10,051,774 | $13,147,287 |
The American Ceramic Society Inc Westerville, OH | $14,880,081 | $7,163,335 |
Museum Of Contemporary Art Cleveland Cleveland, OH | $27,997,238 | $2,174,653 |
Glass City Academy Toledo, OH | $3,212,958 | $2,938,051 |
Pewabic Society Inc Detroit, MI | $5,130,048 | $2,328,763 |
Artprize Grand Rapids Grand Rapids, MI | $1,087,754 | $2,849,118 |
Downtown Toledo Development Corporation Toledo, OH | $1,911,388 | $1,327,098 |
Birmingham Bloomfield Art Center Inc Birmingham, MI | $4,209,000 | $1,197,549 |
Fotofocus Cincinnati Cincinnati, OH | $11,862,912 | $5,313,747 |
Ann Arbor Art Association Ann Arbor, MI | $3,527,483 | $1,787,495 |
Intermuseum Conservation Association Cleveland, OH | $2,305,026 | $921,722 |