Open Studios Inc
- Assets
- $31.6k
- Revenue
- $238.8k
- Investments
- $0.0
- Employees
- 17
- Location
- Boulder, CO
- Founding
- 05/1996
- Data as of
- 12/2023
- EIN
- 84-1305449
Organization Overview
Open Studios Inc is located in Boulder, CO. The organization was established in 1996. 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 12/2023, Open Studios Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Open Studios 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, Open Studios Inc generated $238.8k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $249.4k during the year ending 12/2023. While expenses have increased by 3.2% per year over the past 9 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
ADVANCING THE VISUAL ARTS AND PROMOTING THE ROLE OF ARTISTS IN THE BOULDER CO COMMUNITY SEE PART III FOR MORE DETAILS
Describe the Organization's Program Activity:
Part 3 - Line 4a
FALL OPEN STUDIOS TOUR: A FREE-TO-THE-PUBLIC, ALL AGES, SELF-GUIDED TOUR OF ARTISTS' STUDIOS THAT TAKES PLACE 3 WEEKENDS IN OCTOBER. ARTISTS APPLY THROUGH A JURY SYSTEM TO PARTICIPATE IN THE TOUR. THOSE INVITED TO BE TOUR ARTISTS PAY FEES THAT CONTRIBUTE TO MARKETING AND ADVERTISING EXPENSES FOR THE TOUR.
GENERAL PROMOTION OF THE VISUAL ARTS AND ARTISTS IN OUR COMMUNITY THROUGH A VARIETY OF PROGRAMS: OPEN STUDIOS MEMBERSHIP: OPEN TO STUDIOS IN THE AREA WHO HAVE DEMONSTRATED A UNIQUE VOICE AS AN ARTIST AND A MASTERY OF THEIR PRIMARY ART MEDIUM. EDL LINKS: ARTIST IN RESIDENCE PROGRAMS AND ART CLASSES PROVIDED TO PUBLIC SCHOOL STSUDDENTS THROUGHOUT BOULDER COUNTY. MOBILE ART LAB: FAMILY-FRIENDLY ART ACTIVITIES AND EVENTS SERVING THE
(CONTINUED) LOWER-INCOME AND UNDERSERVED SUB-COMMUNITIES ACROSS BOULDER COUNTY. BOULDER COUNTY PLEIN AIR EVENTS AND FESTIVALS: HELD FOR REGIONAL AND NATIONAL PLEIN AIR ARTISTS WHO CREATE ART INSPIRED BY THE SCENERY OF BOULDER COUNTY. POP! GALLERIES: TEMPORARY POP-UP GALLERIES IN BUSY COMMERCIAL DISTRICTS, OFFERED FREE OR BELOW-MARKET RATES, FOR ARTISTS TO SELL THEIR WORK AND ADVANCE THEIR CAREERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Horrocks Executive Director | Officer | 40 | $55,000 |
Angela Rose Cochair | OfficerTrustee | 2 | $0 |
Kimberly Dorazewski-Smouse Former Chairperson | OfficerTrustee | 2 | $0 |
Karen Okada Board Member | Trustee | 2 | $0 |
Howard O Bernstein Secretary | OfficerTrustee | 2.5 | $0 |
Cindy Britan Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,480 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $91,875 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $106,355 |
| Total Program Service Revenue | $124,384 |
| Investment income | $21 |
| 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 | $238,827 |
| 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. | $55,000 |
| Compensation of current officers, directors, key employees. | $11,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $23,909 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,296 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,378 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,071 |
| Advertising and promotion | $10,461 |
| Office expenses | $29,663 |
| Information technology | $7,580 |
| Royalties | $0 |
| Occupancy | $38,569 |
| Travel | $3,218 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,361 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,111 |
| All other expenses | $0 |
| Total functional expenses | $249,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,159 |
| Savings and temporary cash investments | $9,892 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $579 |
| 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 | $0 |
| Total assets | $31,630 |
| Accounts payable and accrued expenses | $0 |
| 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 | $16,275 |
| Secured mortgages and notes payable | $24,000 |
| Unsecured mortgages and notes payable | $1,000 |
| Other liabilities | $5,256 |
| Total liabilities | $46,531 |
| Net assets without donor restrictions | -$14,901 |
| 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 | $31,630 |