Open Studios Inc
- Assets
- $117.2k
- Revenue
- $370.1k
- Investments
- $0.0
- Employees
- 11
- Location
- Boulder, CO
- Founding
- 05/1996
- Data as of
- 12/2021
- 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 12/2021, Open Studios Inc employed 11 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 12/2021, Open Studios Inc generated $370.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $286.5k during the year ending 12/2021. While expenses have increased by 6.3% per year over the past 7 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
OPEN STUDIOS IS AN ORGANIZATION OPERATING IN BOULDER COUNTY, COLORADO THAT SERVES ARTISTS AND THE BROADER COMMUNITY BY ADVANCING THE VISUAL ARTS THROUGH EDUCATION AND EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SINCE 1995, OUR ORGANIZATION HAS PRODUCED THE FALL OPEN STUDIOS TOUR, A FREE-TO-THE-PUBLIC, SELF-GUIDED TOUR OF ARTISTS STUDIOS. ARTISTS APPLY TO PARTICIPATE; THOSE INVITED TO PARTICIPATE PAY FEES THAT ENABLE US TO PROMOTE THEIR ART AND CAREERS. ADDITIONAL PROGRAMS RUN YEAR-ROUND, SERVING THE MISSION, TO ADVANCE AND ENRICH THE VISUAL ARTS AND PROMOTE THE ROLE OF ARTISTS IN THE BOULDER COMMUNITY. THESE INCLUDE PUBLIC ART PROGRAMS SERVING DISADVANTAGED COMMUNITIES, PROVIDING ART INSTRUCTION IN THE PUBLIC SCHOOLS. AND THE BOULDER PLEIN AIR FESTIVAL, A PROGRAM BRINGING ARTISTS FROM AROUND THE U.S. TO CREATE ART AND COLLABORATE WITH LOCAL ARTISTS. THE FESTIVAL HOSTS A FREE PUBLIC EXHIBITION AND SALE OF ART CREATED DURING THE EVENT. OPEN STUDIOS ORCHESTRATED 21 RECURRING PROGRAMS AND EVENTS BENEFITING 92874 PARTICIPANTS AS WELL AS OVER 131000 VIEWERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Horrocks Curator/board | Officer | 40 | $55,000 |
Cindy Brittan Board Member | Trustee | 1 | $3,768 |
Khiri Lee Board Member | Trustee | 1 | $703 |
Howard O Bernstein Secretary | OfficerTrustee | 2 | $0 |
Pen Volkmann Artist/board Chairman | Officer | 1 | $0 |
Kristine Collins Treasurer | Officer | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $855 |
| Fundraising events | $5,003 |
| Related organizations | $0 |
| Government grants | $38,777 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,002 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $56,637 |
| Total Program Service Revenue | $313,376 |
| Investment income | $50 |
| 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 | $370,063 |
| 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. | $20,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $22,005 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,656 |
| Fees for services: Management | $38,697 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,926 |
| Office expenses | $0 |
| Information technology | $468 |
| Royalties | $0 |
| Occupancy | $10,703 |
| Travel | $0 |
| 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 | $200 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $286,505 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $112,906 |
| Savings and temporary cash investments | $3,264 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,062 |
| 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 | $117,232 |
| Accounts payable and accrued expenses | $7,692 |
| 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 | $18,675 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $18,561 |
| Total liabilities | $44,928 |
| Net assets without donor restrictions | $72,304 |
| 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 | $117,232 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Open Studios Inc has recieved totaling $27,150.
| Awarding Organization | Amount |
|---|---|
Denver Foundation Denver, CO PURPOSE: GENERAL OPERATING SUPPORT | $20,000 |
The Community Foundation Boulder, CO PURPOSE: General Operating Support | $7,150 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mosaic Employee Welfare Benefit Plan Trust Omaha, NE | $7,371,640 | $16,223,052 |
Phoenix Painting Industry Trust Fund Phoenix, AZ | $8,745,449 | $4,690,569 |
Redline Denver, CO | $19,188,382 | $2,483,556 |
National Council On Education For The Ceramic Arts Boulder, CO | $3,277,590 | $1,203,112 |
Cherry Creek Arts Festival Denver, CO | $2,617,133 | $1,539,850 |
Art Association Of Jackson Hole Jackson, WY | $1,265,273 | $1,643,063 |
Foothills Art Center Inc Golden, CO | $2,162,133 | $1,395,944 |
Studio Arts Boulder Inc Boulder, CO | $3,831,022 | $2,254,756 |
Craft Lake City Salt Lake City, UT | $319,746 | $884,315 |
The Art Base Basalt, CO | $2,805,955 | $1,249,612 |
Turrell Art Foundation Flagstaff, AZ | $84,539,675 | $27,051,414 |
Lux Center For The Arts Lincoln, NE | $2,353,211 | $746,199 |