Arts Business Collaborative Inc
- Assets
- $676.9k
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 12
- Location
- Long Island City, NY
- Founding
- 11/2018
- Data as of
- 12/2023
- EIN
- 83-2173068
Organization Overview
Arts Business Collaborative Inc is located in Long Island City, NY. The organization was established in 2018. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Arts Business Collaborative Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arts Business Collaborative 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 12/2023, Arts Business Collaborative Inc generated $1.9m in total revenue. All expenses for the organization totaled $2.7m during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ARTS BUSINESS COLLABORATIVE, INC IS A TECHNICAL ASSISTANCE AND RESEARCH ORGANIZATION WITH A MISSION TO IMPROVE QUALITY OF LIFE FOR PEOPLE OF COLOR THROUGH THE ARTS AND "STEM" SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS. THESE SERVICES FOCUS ON THE UNDERLYING FACTORS THAT IMPEDE THEIR CREATIVE AND PROFESSIONAL ENDEAVORS: ACCESS TO CAPITAL, NETWORKS, AND TRAINING. ABC AIMS TO SYSTEMICALLY IMPROVE THE QUALITY OF LIFE IN COMMUNITIES OF COLOR THROUGH TWO MAIN SERVICES: THE GRASSROOTS ACTION PROJECT AND THE RISING TIDES RESEARCH INSTITUTE. THE ORGANIZATION IS SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE PUBLIC AND PRIVATE GRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARTS BUSINESS COLLABORATIVE, INC IS A TECHNICAL ASSISTANCE AND RESEARCH ORGANIZATION WITH A MISSION TO IMPROVE QUALITY OF LIFE FOR PEOPLE OF COLOR THROUGH THE ARTS AND "STEM" SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS. THESE SERVICES FOCUS ON THE UNDERLYING FACTORS THAT IMPEDE THEIR CREATIVE AND PROFESSIONAL ENDEAVORS: ACCESS TO CAPITAL, NETWORKS, AND TRAINING. ABC AIMS TO SYSTEMICALLY IMPROVE THE QUALITY OF LIFE IN COMMUNITIES OF COLOR THROUGH TWO MAIN SERVICES: THE GRASSROOTS ACTION PROJECT AND THE RISING TIDES RESEARCH INSTITUTE. THE ORGANIZATION IS SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE PUBLIC AND PRIVATE GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kat Bloomfield Ceo- Board Secretary | OfficerTrustee | 40 | $187,519 |
Joshua Beauchemin CFO | OfficerTrustee | 40 | $143,564 |
Akil B Davis Board Treasurer | Trustee | 1 | $0 |
Phoenix Millacy Jay Board Member | Trustee | 1 | $0 |
Isabel Jones Board Member | Trustee | 1 | $0 |
Conrhonda Baker Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
St Hr Consulting Inc Professional Fees - Hr | 12/30/21 | $286,300 |
Ian Fieldsstewart Contractor-program Staff | 12/30/21 | $146,792 |
Cayden Financial Group Professional Fees - Accounting | 12/30/21 | $122,306 |
Jordyn Jay Smith Contractor-executive Staff | 12/30/21 | $114,883 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $650,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,165,613 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,815,613 |
| Total Program Service Revenue | $76,512 |
| Investment income | $1,303 |
| 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 | $1,893,428 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $489,202 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $40,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $341,016 |
| Compensation of current officers, directors, key employees. | $167,185 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $438,158 |
| Pension plan accruals and contributions | $13,988 |
| Other employee benefits | $121,759 |
| Payroll taxes | $66,350 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,229 |
| Fees for services: Accounting | $65,651 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $74,587 |
| Advertising and promotion | $9,538 |
| Office expenses | $95,627 |
| Information technology | $10,245 |
| Royalties | $0 |
| Occupancy | $1,401 |
| Travel | $22,417 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $936 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $7,018 |
| All other expenses | $65,731 |
| Total functional expenses | $2,683,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $509,528 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $144,250 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $23,164 |
| Total assets | $676,942 |
| Accounts payable and accrued expenses | $40,033 |
| 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 | $352 |
| Other liabilities | $23,164 |
| Total liabilities | $63,549 |
| Net assets without donor restrictions | -$505,271 |
| Net assets with donor restrictions | $1,118,664 |
| 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 | $676,942 |
Grants Awarded
Over the last fiscal year, Arts Business Collaborative Inc has awarded $150,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BABES FEST INC PURPOSE: FINANCIAL ASSISTANCE FOR RENT, GENDER AFFIRMING SURGERIES, AND MEDICAL BILLS FOR BLACK TRANS ARTISTS. | $75,000 |
HOUSE OF TULIP PURPOSE: FINANCIAL ASSISTANCE FOR RENT, GENDER AFFIRMING SURGERIES, AND MEDICAL BILLS FOR BLACK TRANS ARTISTS. | $75,000 |