Upstairs Artspace
- Assets
- $584.5k
- Revenue
- $120.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Tryon, NC
- Founding
- 02/1980
- Data as of
- 12/2021
- EIN
- 58-1379476
Organization Overview
Upstairs Artspace is located in Tryon, NC. The organization was established in 1980. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Upstairs Artspace 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, Upstairs Artspace generated $120.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $104.8k 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
TO DEVELOP AN UNDERSTANDING & APPRECIATION OF CONTEMPORARY ART & CRAFT FORMS THROUGH EXHIBITS, PROGRAMS & EDUCATIONAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ART EDUCATION FOR THE PUBLIC AND PROVIDE A CONTEMPORARY ART GALLERY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patti Trobaugh Treasurer | OfficerTrustee | 12 | $0 |
Cathey Stoney President | OfficerTrustee | 4 | $0 |
Alexia Boyd Vice Preside | OfficerTrustee | 1 | $0 |
Hague Williams Director | Trustee | 1 | $0 |
Mark Holland Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $720 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,169 |
| All other contributions, gifts, grants, and similar amounts not included above | $80,230 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $91,119 |
| Total Program Service Revenue | $29,540 |
| Investment income | $50 |
| 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 | $120,709 |
| 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. | $20,934 |
| Compensation of current officers, directors, key employees. | $20,934 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,643 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,970 |
| Advertising and promotion | $8,954 |
| Office expenses | $7,353 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $10,743 |
| 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 | $19,350 |
| Insurance | $5,589 |
| All other expenses | $23,489 |
| Total functional expenses | $104,800 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $146,007 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $193 |
| 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 | $438,349 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $584,549 |
| Accounts payable and accrued expenses | $253 |
| 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 | $5,000 |
| Other liabilities | $94,747 |
| Total liabilities | $100,000 |
| Net assets without donor restrictions | $484,549 |
| 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 | $584,549 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Upstairs Artspace has recieved totaling $48,225.
| Awarding Organization | Amount |
|---|---|
Marjorie M & Lawrence R Bradley Endowment Fund Of Polk County N Ca Tryon, NC PURPOSE: SUSTAINABILITY | $35,000 |
Polk County Community Foundation Inc Tryon, NC PURPOSE: CONTEMPORARY ART GALLERY & EVENTS | $11,200 |
Peggy Meyerhoff Pearlstone Foundation Inc Baltimore, MD PURPOSE: GENERAL PURPOSE OF ORGANIZATION | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $25 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arts & Science Council Charlotte Mecklenburg Inc Charlotte, NC | $42,519,495 | $11,600,726 |
Frist Art Museum Nashville, TN | $27,247,403 | $12,277,490 |
Professional Photographers Of America Inc Atlanta, GA | $48,960,545 | $12,325,076 |
Textile Rental Services Association Of America Inc Alexandria, VA | $12,660,390 | $5,781,606 |
Inda Association Of The Non Woven Fabrics Industry Cary, NC | $9,846,018 | $4,859,607 |
Andreas H Bechtler Arts Foundation Charlotte, NC | $39,434,021 | $2,461,495 |
Virginia Museum Of Contemporary Art Virginia Beach, VA | $2,164,198 | $3,254,466 |
Georgia Association Of Manufacturers Inc Atlanta, GA | $2,700,140 | $2,292,406 |
The Center For Craft Creativity & Design Inc Asheville, NC | $15,329,103 | $2,386,393 |
Forward Arts Foundation Inc Atlanta, GA | $5,240,641 | $1,648,904 |
Southern Highland Handicraft Guild Inc Asheville, NC | $7,206,278 | $2,199,830 |
Mccoll Center For Art & Innovation Charlotte, NC | $14,043,354 | $2,439,387 |