Arts Business Collaborative Inc
- Assets
- $8.7m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 12
- Location
- Long Island City, NY
- Founding
- 11/2018
- Data as of
- 12/2021
- 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 12/2021, 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 12/2021, Arts Business Collaborative Inc generated $7.5m in total revenue. All expenses for the organization totaled $5.9m during the year ending 12/2021. While expenses have increased by 330.4% per year over the past 3 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
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 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 SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE PUBLIC AND PRIVATE GRANTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tatum Turner Board Member | Trustee | 1 | $311,326 |
Kat Bloomfield Ceo- Board Secretary | OfficerTrustee | 35 | $205,176 |
Michael Eaton Board Member | Trustee | 1 | $0 |
Akil Davis Board Treasurer | Trustee | 1 | $0 |
Anibel Sauls Board President | 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 | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,794,080 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,844,080 |
| Total Program Service Revenue | $630,675 |
| Investment income | $296 |
| 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 | $7,475,051 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $150,000 |
| Grants and other assistance to domestic individuals. | $977,679 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $205,176 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $304,965 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $88,729 |
| Payroll taxes | $33,223 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $322,067 |
| Fees for services: Accounting | $216,534 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $489,995 |
| Advertising and promotion | $50,799 |
| Office expenses | $40,796 |
| Information technology | $96,872 |
| Royalties | $0 |
| Occupancy | $122,487 |
| Travel | $15,213 |
| 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 | $0 |
| Insurance | $24,787 |
| All other expenses | $65,108 |
| Total functional expenses | $5,883,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,523,877 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $103,204 |
| 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 | $32,491 |
| Total assets | $8,659,572 |
| Accounts payable and accrued expenses | $48,024 |
| 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 | $55,900 |
| Other liabilities | $0 |
| Total liabilities | $103,924 |
| Net assets without donor restrictions | $4,675,726 |
| Net assets with donor restrictions | $3,879,922 |
| 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 | $8,659,572 |
Grants Awarded
Over the last fiscal year, Arts Business Collaborative Inc has awarded $150,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Austin, TX PURPOSE: FINANCIAL ASSISTANCE FOR RENT, GENDER AFFIRMING SURGERIES, AND MEDICAL BILLS FOR BLACK TRANS ARTISTS. | $75,000 |
New Orleans, LA PURPOSE: FINANCIAL ASSISTANCE FOR RENT, GENDER AFFIRMING SURGERIES, AND MEDICAL BILLS FOR BLACK TRANS ARTISTS. | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Arts Business Collaborative Inc has recieved totaling $316,422.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $133,208 |
Groundswell Fund San Francisco, CA PURPOSE: Program Support | $53,400 |
Tides Center San Francisco, CA PURPOSE: HEALTHY INDIVIDUALS AND COMMUNITIES | $42,500 |
Houston Arts Alliance Houston, TX PURPOSE: General support | $27,500 |
Greater Houston Community Foundation Houston, TX PURPOSE: ARTS | $25,000 |
Borealis Philanthropy Minneapolis, MN PURPOSE: TO SUPPORT THE WORK OF FOR THE GWORLS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Project Social Care Head Start Brooklyn, NY | $6,318,610 | $20,235,501 |
Race Forward New York, NY | $41,775,681 | $35,206,795 |
Doris Duke Management Foundation New York, NY | $16,535,132 | $14,155,611 |
Friends Retirement Concepts Inc East Brunswick, NJ | $1,909,950 | $77,429,648 |
Loomis Senior Living Inc Springfield, MA | $28,913,416 | $11,456,759 |
St Barnabas Health System Inc Gibsonia, PA | $11,393,428 | $11,432,241 |
Jasa Corporation New York, NY | $81,684,696 | $37,717,694 |
Managed Health Resources Inc Somerville, MA | $3,938,917 | $10,079,712 |
Corporation For Public Management Springfield, MA | $4,685,257 | $9,157,820 |
Repair The World Inc New York, NY | $12,187,078 | $15,959,640 |
Greenlight Fund Inc Boston, MA | $42,352,502 | $25,826,646 |
Arts Business Collaborative Inc Long Island City, NY | $8,659,572 | $7,475,051 |