Powerhouse Arts Inc
- Assets
- $191.1m
- Revenue
- $10.4m
- Investments
- $0.0
- Employees
- 57
- Location
- Brooklyn, NY
- Founding
- 02/2015
- Data as of
- 06/2022
- EIN
- 46-0776852
Organization Overview
Powerhouse Arts Inc is located in Brooklyn, NY. The organization was established in 2015. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2022, Powerhouse Arts Inc employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Powerhouse Arts 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 06/2022, Powerhouse Arts Inc generated $10.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.3%) each year. All expenses for the organization totaled $5.4m during the year ending 06/2022. 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
POWERHOUSE IS A NOT-FOR-PROFIT ORGANIZATION COMMITTED TO CREATIVE EXPRESSION. HOUSED IN A PURPOSE-BUILT FACILITY IN BROOKLYN, THE ORGANIZATION HOSTS AN EXTENDED NETWORK OF ART AND FABRICATION PROFESSIONALS AND EDUCATORS WHO WORK TOGETHER TO CO-CREATE AND SHARE ARTISTIC PRACTICES VITAL TO THE WELLBEING OF ARTISTS AND THE COMMUNITIES TO WHICH THEY BELONG.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FABRICATOR PROGRAMTHROUGH THIS PROGRAM, POWERHOUSE ARTS WORKS COLLABORATIVELY WITH ARTISTS ON PROJECTS AT ALL STAGES - FROM CONCEPT DEVELOPMENT TO PROJECT EXECUTION TO INSTALLATION. POWERHOUSE SPECIALIZES IN CERAMIC AND PRINT AND PUBLIC ART.
FABRICATOR PROGRAMTHROUGH THIS PROGRAM, POWERHOUSE ARTS WORKS COLLABORATIVELY WITH ARTISTS ON PROJECTS AT ALL STAGES - FROM CONCEPT DEVELOPMENT TO PROJECT EXECUTION TO INSTALLATION. POWERHOUSE SPECIALIZES IN CERAMIC AND PRINT AND PUBLIC ART.
COMMUNITY ENGAGEMENT AND PARTNERSHIPSTHROUGH THIS PROGRAM, POWERHOUSE ARTS WILL BECOME A MEANINGFUL HOME TO AN EXTENDED NETWORK OF ART AND FABRICATION PROFESSIONALS AND EDUCATORS WHO WORK TOGETHER TO CO-CREATE AND SHARE ARTISTIC PRACTICES. THE PROGRAM TEAM WILL BUILD THESE RELATIONSHIPS WITH EDUCATIONAL AND PUBLIC PROGRAMMING.
COMMUNITY ENGAGEMENT AND PARTNERSHIPSTHROUGH THIS PROGRAM, POWERHOUSE ARTS WILL BECOME A MEANINGFUL HOME TO AN EXTENDED NETWORK OF ART AND FABRICATION PROFESSIONALS AND EDUCATORS WHO WORK TOGETHER TO CO-CREATE AND SHARE ARTISTIC PRACTICES. THE PROGRAM TEAM WILL BUILD THESE RELATIONSHIPS WITH EDUCATIONAL AND PUBLIC PROGRAMMING.
CERAMIC MEMBER STUDIO PROGRAMPOWERHOUSE ARTS CONTINUED TO ADVANCE PLANNING AND DEVELOPMENT OF AN INDEPENDENT PRODUCTION PROGRAM AS THE CERAMIC MEMBER PROGRAM. MEMBERSHIP TO THE CERAMIC MEMBER STUDIO WILL PROVIDE FLEXIBLE ACCESS TO MEMBERS-ONLY WORKSHOP FACILITIES TO THOSE WHO HAVE DEMONSTRATED THE ABILITY TO WORK INDEPENDENTLY AND SAFELY. THE PROGRAM WILL INCLUDE ONGOING EDUCATION WORKSHOPS AND AN ARTIST IN RESIDENCE.
CERAMIC MEMBER STUDIO PROGRAMPOWERHOUSE ARTS CONTINUED TO ADVANCE PLANNING AND DEVELOPMENT OF AN INDEPENDENT PRODUCTION PROGRAM AS THE CERAMIC MEMBER PROGRAM. MEMBERSHIP TO THE CERAMIC MEMBER STUDIO WILL PROVIDE FLEXIBLE ACCESS TO MEMBERS-ONLY WORKSHOP FACILITIES TO THOSE WHO HAVE DEMONSTRATED THE ABILITY TO WORK INDEPENDENTLY AND SAFELY. THE PROGRAM WILL INCLUDE ONGOING EDUCATION WORKSHOPS AND AN ARTIST IN RESIDENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Hanna Chairman, President, Treasurer | OfficerTrustee | 30 | $0 |
Joann Luehring Board Member | Trustee | 7 | $0 |
Steven M Battaglia Interim Co-Executive Director | Officer | 40 | $152,704 |
Anika E Selhorst Interim Co-Executive Director | Officer | 40 | $130,674 |
Shayna Jeffers Director Of Finance | Officer | 40 | $120,002 |
Jessica Lysons To Sep 2021 Dir. Of Finance & Administration | Officer | 40 | $155,591 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Roberts & Holland Llp Legal Services | 6/29/22 | $163,381 |
Burchman Terrio Gebhardt & Quist Financial Management Services | 6/29/22 | $162,696 |
Roberts & Holland Llp Legal Services | 6/29/22 | $163,381 |
Burchman Terrio Gebhardt & Quist Financial Management Services | 6/29/22 | $162,696 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,080,127 |
| All other contributions, gifts, grants, and similar amounts not included above | $765,300 |
| Noncash contributions included in lines 1a–1f | $415,300 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,845,427 |
| Total Program Service Revenue | $1,113,886 |
| Investment income | $1,396,541 |
| 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 | $10,355,854 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $675 |
| 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. | $629,355 |
| Compensation of current officers, directors, key employees. | $416,935 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,822,327 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $372,697 |
| Payroll taxes | $217,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $133,229 |
| Fees for services: Accounting | $36,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,162 |
| Fees for services: Other | $456,351 |
| Advertising and promotion | $0 |
| Office expenses | $681,050 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $728,927 |
| Travel | $1,856 |
| 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 | $212,449 |
| Insurance | $114,007 |
| All other expenses | $0 |
| Total functional expenses | $5,413,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,656 |
| Savings and temporary cash investments | $10,744,859 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $157,261 |
| 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 | $232,560 |
| Net Land, buildings, and equipment | $8,608,609 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $171,070,188 |
| Total assets | $191,125,133 |
| Accounts payable and accrued expenses | $614,588 |
| 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 | $6,181,263 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,795,851 |
| Net assets without donor restrictions | $183,861,328 |
| Net assets with donor restrictions | $467,954 |
| 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 | $191,125,133 |
Grants Awarded
Over the last fiscal year, Powerhouse Arts Inc has awarded $33,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DAVIES TOEWS PURPOSE: INTERNSHIP PROGRAM | $25,000 |
SUPERCHIEF GALLERY NY PURPOSE: PROGRAM EVENT SUPPORT | $8,000 |