Turnpark Art Space Inc
- Assets
- $105.0k
- Revenue
- $235.7k
- Investments
- $0.0
- Employees
- 7
- Location
- West Stockbridge, MA
- Founding
- 11/2014
- Data as of
- 12/2021
- EIN
- 46-5064530
Organization Overview
Turnpark Art Space Inc is located in West Stockbridge, MA. The organization was established in 2014. According to its NTEE Classification (A51) the organization is classified as: Art Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Turnpark Art Space Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turnpark Art Space 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 12/2021, Turnpark Art Space Inc generated $235.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 31.6% each year . All expenses for the organization totaled $252.1k during the year ending 12/2021. 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
THE ORGANIZATION IS OPERATED FOR CHARITABLE, LITERARY AND EDUCATIONAL PURPOSES INCLUDING THE OPERATION OF AN ART MUSEUM TO DISPLAY, PRESERVE AND STIMULATE AN APPRECIATION OF ART, ALL IN SERVICE OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CURATORIAL DEPARTMENT IN CONNECTION WITH THE ACQUISITION, PRESERVATION AND DISPLAY OF WORKS OF ART AND EXHIBITIONS OF ART FOR THE GENERAL PUBLIC. ADDITIONAL PROGRAM SERVICES INCLUDE THE COLLECTION, STUDY, CONSERVATION AND EXHIBITION OF WORKS OF ART ACROSS ALL TIMES AND CULTURES IN ORDER TO CONNECT PEOPLE AND FOSTER CREATIVITY, KNOWLEDGE AND IDEAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Igor Gomberg Treasurer And Director | OfficerTrustee | 40 | $0 |
Ekaterina Brezgunova President And Director | OfficerTrustee | 40 | $0 |
Elizaveta Gomberg Clerk | OfficerTrustee | 25 | $0 |
Lev Loffe Director | Trustee | 15 | $0 |
Michael Khodarkovsky Director | Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $500 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $175,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $175,772 |
| Total Program Service Revenue | $56,880 |
| Investment income | $0 |
| 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 | $235,721 |
| 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 | $78,680 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,922 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,274 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| 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 | $3,855 |
| Insurance | $7,951 |
| All other expenses | $55,455 |
| Total functional expenses | $252,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,580 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $65,932 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $31,495 |
| Other assets | $0 |
| Total assets | $105,007 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $105,007 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $105,007 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Whitney Museum Of American Art New York, NY | $937,771,000 | $113,143,000 |
Solomon R Guggenheim Foundation New York, NY | $240,294,871 | $73,166,662 |
Brooklyn Institute Of Arts And Sciences Brooklyn, NY | $388,418,074 | $82,546,120 |
Sterling & Francine Clark Art Inst Williamstown, MA | $670,367,352 | $8,296,004 |
Frick Collection New York, NY | $548,300,043 | $37,986,909 |
Isabella Stewart Gardner Museum Inc Boston, MA | $347,979,013 | $30,352,820 |
Buffalo Fine Arts Academy Buffalo, NY | $293,134,468 | $30,844,940 |
New Museum Of Contemporary Art New York, NY | $107,362,095 | $41,908,538 |
Institute Of Contemporary Art Boston, MA | $121,321,339 | $26,427,567 |
Museum Of Arts And Design New York, NY | $100,702,289 | $12,680,439 |
Wadsworth Atheneum Museum Of Art Hartford, CT | $165,426,651 | $15,147,902 |
Neue Galerie New York New York, NY | $114,494,920 | $18,242 |