Mainframe Studios
- Assets
- $10.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Des Moines, IA
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-1637111
Organization Overview
Mainframe Studios is located in Des Moines, IA. The organization was established in 2014. 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, Mainframe Studios employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mainframe Studios 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, Mainframe Studios generated $3.3m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.1% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 11.3% per year over the past 4 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
MAINFRAME STUDIOS IS A FINANCIALLY SELF-SUSTAINING NONPROFIT PROVIDING AFFORDABLE WORKSPACES TO ADVANCE EQUITY AND OPPORTUNITIES IN THE ARTS. WITH 180 NONRESIDENTIAL STUDIOS, WE BELIEVE MAINFRAME IS THE LARGEST NONPROFIT ART STUDIO BUILDING IN THE NATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINFRAME COMPLETED THE FINAL PHASE OF ITS BUILDING RENOVATIONS, INCREASING ITS NONRESIDENTIAL WORKSPACES TO 180 TOTAL STUDIOS. THESE STUDIOS ARE OFFERED TO INDIVIDUAL ARTISTS AND ARTS-RELATED NONPROFITS. WE OPERATED AT NEARLY 100% OCCUPANCY AND OUR WAITLIST CONSISTENTLY HOVERED AROUND 100 APPLICANTS. INCOME FROM OUR AFFORDABLE RENTS GENERATE ENOUGH REVENUE TO COVER OPERATING COSTS. OUR 4650 SQUARE FOOT EVENT SPACE PROVIDES A PLACE FOR WEDDINGS, CONFERENCES, WORKSHOPS, CORPORATE PARTIES AND FUNDRAISERS TO OCCUR FOR A RENTAL FEE. MAINFRAME SERVICES AS A BECON, DEMONSTRATING THAT INVESTING IN THE CREATIVE ECONOMY WORKS, EVEN IN TIMES OF CRISIS. (NOTE THE EXPENSES LISTED IN 4A ABOVE INCLUDE $716,461 OF DEPRECIATION.)
MAINFRAME STUDIOS NORMALLY SPENDS OVER 90% OF ITS MARKETING BUDGET ON PROGRAMMING MONTHLY FIRST FRIDAY OPEN STUDIO EVENTS THAT ATTRACT HUNDREDS OF VISITORS. THE FESTIVE, FREE EVENTS FEATURE A UNIQUE THEME, CREATING A NEW EXPERIENCE FOR VISITORS EACH MONTH. THEMES INCLUDE EXHIBITIONS, ACTIVITIES AND SPECIAL GUESTS RELATING TO VARIOUS ART FORMS SUCH AS CERAMICS, TEXTILES AND EVEN GAMING. FIRST FRIDAYS ALSO FEATURE LOCAL MUSICIANS AND AFFORDABLE DINNER OPTIONS BY RESIDENT CATERERS TANGERINE FOOD CO. TENANT-ARTISTS OPEN THEIR STUDIOS TO CONNECT WITH NEW CUSTOMERS AND PARTNERS THAT HELP FURTHER THEIR CAREERS. MAINFRAME ALSO SELF-PUBLISHES A QUARTERLY STUDIO DIRECTORY THAT INCLUDES STORIES ABOUT OUR ARTISTS AND PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Mandelbaum President | OfficerTrustee | 6 | $0 |
John Mcgowan Vice President | OfficerTrustee | 2 | $0 |
Michael Trettin Treasurer | OfficerTrustee | 2 | $0 |
Gretchen Bohling Secretary | OfficerTrustee | 0.25 | $0 |
Markaus Ashworth Member | Trustee | 0.25 | $0 |
Sarah Young Member | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $215,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,112,967 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,327,967 |
| Total Program Service Revenue | $921,943 |
| Investment income | $1,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,558 |
| 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 | -$901 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,251,639 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $132,000 |
| Pension plan accruals and contributions | $3,269 |
| Other employee benefits | $0 |
| Payroll taxes | $9,906 |
| Fees for services: Management | $24,000 |
| Fees for services: Legal | $3,423 |
| Fees for services: Accounting | $12,480 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,231 |
| Advertising and promotion | $37,190 |
| Office expenses | $3,386 |
| Information technology | $14,714 |
| Royalties | $0 |
| Occupancy | $508,240 |
| Travel | $2,847 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,092 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $716,461 |
| Insurance | $5,824 |
| All other expenses | $59,946 |
| Total functional expenses | $1,559,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,079,265 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $109,050 |
| Accounts receivable, net | $2,484 |
| 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 | $2,754 |
| Net Land, buildings, and equipment | $9,643,052 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,836,605 |
| Accounts payable and accrued expenses | $235,019 |
| Grants payable | $0 |
| Deferred revenue | $18,602 |
| 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 | $160,092 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $67,576 |
| Total liabilities | $481,289 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $10,355,316 |
| Total liabilities and net assets/fund balances | $10,836,605 |