Stove Works
- Assets
- $222.8k
- Revenue
- $258.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Chattanooga, TN
- Founding
- 10/2018
- Data as of
- 12/2021
- EIN
- 82-1351758
Organization Overview
Stove Works is located in Chattanooga, TN. The organization was established in 2018. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Stove Works employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stove Works 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, Stove Works generated $258.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 48.2% each year . All expenses for the organization totaled $164.0k during the year ending 12/2021. While expenses have increased by 58.1% per year over the past 5 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING SPACE, SUPPORTING SERVICES, AND EDUCATION PROGRAMMING FOR AND THROUGH EXHIBITION OF CONTEMPORARY ART OPEN & FREE TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING SPACE & SUPPORTING SERVICES FOR EXHIBITION OF CONTEMPORARY ART: EXHIBITION INSIDE DEDICATED 7,000 SQ. FT. AT FACILITY LOCATED IN CHATTANOOGA ALONG WITH ARTIST/COMMUNITY OUTREACH.
PROVIDING SPACE & SUPPORTING SERVICES FOR EDUCATIONAL ACTIVITIES THAT DEEPEN CONSTITUENTS' RELATIONSHIP TO & UNDERSTANDING OF CONTEMPORARY ART, INCLUDING COMMUNITY WORKSHOPS & FORUMS.
PROVIDING SPACE & SUPPORTING SERVICES FOR RESIDENCY OF CONTEMPORARY ARTISTS: ARTISTS INVITED TO LIVE ON-SITE FOR 1 - 3 MONTHS WITH DEDICATED 9,000 SQ. FT. FACILITY. ARTISTS GIVEN ACCESS TO WORKSHOPS, PRIVATE STUDIOS, & COMMUNAL SPACE WITH OPPORTUNITIES TO GENERATE NEW WORK AND EXHIBIT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charlotte Caldwell Executive Director | Officer | 50 | $6,000 |
Wesley Aull President | Officer | 2 | $0 |
John Paul Hennessy Board Director | Trustee | 2 | $0 |
Katherine Currin Board Director | Trustee | 2 | $0 |
Alexis Willis Board Director | Trustee | 2 | $0 |
David Barnes Board Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $16,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $228,782 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,882 |
| Total Program Service Revenue | $0 |
| Investment income | $1 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $13,564 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $258,447 |
| 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. | $6,000 |
| Compensation of current officers, directors, key employees. | $1,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $64,092 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,732 |
| Payroll taxes | $6,030 |
| Fees for services: Management | $14,970 |
| Fees for services: Legal | $160 |
| Fees for services: Accounting | $4,372 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $625 |
| Office expenses | $0 |
| Information technology | $1,506 |
| Royalties | $0 |
| Occupancy | $5,891 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $508 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $719 |
| All other expenses | $1,126 |
| Total functional expenses | $163,972 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,024 |
| 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 | $79,790 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $222,814 |
| Accounts payable and accrued expenses | $3,934 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,800 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $47,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $53,634 |
| Net assets without donor restrictions | $157,852 |
| Net assets with donor restrictions | $11,328 |
| 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 | $222,814 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Stove Works has recieved totaling $80,052.
| Awarding Organization | Amount |
|---|---|
Lyndhurst Foundation Inc Chattanooga, TN PURPOSE: OUTDOOR ENGAGEMENT PROGRAM | $40,000 |
Via Art Fund Inc Boston, MA PURPOSE: GENERAL OPERATING SUPPORT | $40,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $52 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coalition To Salute Americas Heroes Foundation Leesburg, VA | $3,573,595 | $8,478,376 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Music City Inc Nashville, TN | $1,837,848 | $7,930,504 |
Crosstown Arts Memphis, TN | $38,457,214 | $4,680,625 |
John C Campbell Folk School Brasstown, NC | $20,488,128 | $4,524,565 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Association Of American Voices Saint Louis, MO | $696,688 | $3,487,679 |
Memphis Equity Through Arts Meta Incorporated Memphis, TN | $5,874,530 | $7,164,597 |
Appalshop Inc Whitesburg, KY | $8,650,033 | $2,149,775 |
Memphis In May International Festival Inc Memphis, TN | $4,677,503 | $2,273,583 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |