Bakehouse Art Complex Inc
- Assets
- $1.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 8
- Location
- Miami, FL
- Founding
- 09/1981
- Data as of
- 09/2023
- EIN
- 59-2104864
Organization Overview
Bakehouse Art Complex Inc is located in Miami, FL. The organization was established in 1981. 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 09/2023, Bakehouse Art Complex Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bakehouse Art Complex 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 09/2023, Bakehouse Art Complex Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $1.1m during the year ending 09/2023. While expenses have increased by 6.0% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AFFORDABLE WORK SPACES, EXHIBITION AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES TO WORKING ARTISTS, AND SERVE AS A VENUE FOR CULTURAL AND EDUCATIONAL PROGRAMMING IN MIAMI'S HISTORIC ART DECO BAKERY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED AFFORDABLE AND SUBSIDIZED STUDIOS , INFRASTRUCTURE, AND PROFESSIONAL AND CREATIVE DEVELOPMENT OPPORTUNITIES FOR 100 MIAMI BASED ARTISTS PROVIDED FREE CULTURAL PROGRAMS, ONSITE, OFF SITE, AND ONLINE, WHICH INCLUDED A RANGE OF EXHIBITIONS AND EDUCATIONAL PROGRAMMING TO ARTISTS AND MEMBERS OF THE GENERAL PUBLIC. APPROXIMATELY 50,000 PEOPLE BENEFITED AND OR PARTICIPATED IN ON AND OFFSITE SITE OFFERINGS: EXHIBITIONS; CULTURAL PROGRAMS AND CONVERSATIONS; STUDIO VISITS; COMMUNITY PARTNERSHIPS, COMMUNITY EDUCATIONAL PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Korman President | OfficerTrustee | 2 | $0 |
Lawrence Kline Vice Preside | OfficerTrustee | 2 | $0 |
Lia Yaffar Pena Treasurer | OfficerTrustee | 2 | $0 |
Eduard Duval-Carrie Director | Trustee | 2 | $0 |
Jose Felix Diaz Director | Trustee | 2 | $0 |
Rudolphe El-Khoury Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $106,331 |
| Related organizations | $0 |
| Government grants | $486,331 |
| All other contributions, gifts, grants, and similar amounts not included above | $515,679 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,108,341 |
| Total Program Service Revenue | $322,972 |
| 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 | $1,435,616 |
| 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. | $225,000 |
| Compensation of current officers, directors, key employees. | $32,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $275,755 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,130 |
| Payroll taxes | $21,151 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,786 |
| Fees for services: Accounting | $67,729 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,914 |
| Advertising and promotion | $0 |
| Office expenses | $4,428 |
| Information technology | $10,202 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,635 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,119 |
| Insurance | $34,391 |
| All other expenses | $64,679 |
| Total functional expenses | $1,116,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $381,557 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $26,904 |
| 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 | $75,720 |
| Net Land, buildings, and equipment | $1,162,665 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,646,846 |
| Accounts payable and accrued expenses | $27,411 |
| Grants payable | $0 |
| Deferred revenue | $81,136 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $31,874 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $201,470 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $341,891 |
| Net assets without donor restrictions | $1,099,840 |
| Net assets with donor restrictions | $205,115 |
| 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 | $1,646,846 |