Restart Factory Inc
- Assets
- $6.0m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 112
- Location
- New York, NY
- Founding
- Data as of
- 06/2022
- EIN
- 86-2026695
Organization Overview
Restart Factory Inc is located in New York, NY. 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 06/2022, Restart Factory Inc employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Restart Factory Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CHELSEA FACTORY EXISTS TO SUPPORT THE ARTISTS, ENSEMBLES, AND ARTS ORGANIZATIONS OF NEW YORK CITY AS WE EMERGE FROM THE COVID-19 PANDEMIC. WITH AN EMPHASIS ON SUPPORT FOR ARTISTS FROM HISTORICALLY EXCLUDED COMMUNITIES, CHELSEA FACTORY PROVIDES HIGHLY SUBSIDIZED CREATION AND PRESENTATION SPACE, PRODUCTION RESOURCES, AND DYNAMIC CONNECTIONS THAT AIM TO CREATE TRANSFORMATIVE EXPERIENCES FOR ITS ARTISTS AND PARTNERS ACROSS GENRES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHELSEA FACTORY PERFORMANCES & PROGRAMMING: CHELSEA FACTORY HOSTS MULTIDISCIPLINARY REHEARSALS, PERFORMANCES, EVENTS, AND SPACE RENTALS FOR ARTS, CULTURE AND COMMUNITY GROUPS ACROSS NEW YORK CITY. THIS INCLUDES ARTIST RESIDENCIES FOR AN ANNUAL COHORT OF EMERGING AND ESTABLISHED ARTISTS, FREE PARTICIPATORY EVENTS FOR COMMUNITY GROUPS, AND MAINSTAGE PUBLIC PERFORMANCES ACROSS ALL ARTISTIC DISCIPLINES. THROUGH THIS PROGRAMMING, CHELSEA FACTORY OFFERS YEAR-ROUND OPPORTUNITIES FOR FAMILIES, STUDENTS, AND NEW YORKERS OF ALL AGES TO ENGAGE IN FREE AND LOW-COST CREATIVE EXPERIENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Kiel Executive Director/treasurer | OfficerTrustee | 40 | $343,816 |
Donald Borror Managing Director | Officer | 40 | $202,120 |
Jim Herbert Board Chair | OfficerTrustee | 1 | $0 |
Shilla Kim-Parker Board Member | Trustee | 1 | $0 |
Andrea Miller Board Member | Trustee | 1 | $0 |
Arielle Patrick Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vornado Realty Trust Construction Services | 6/29/22 | $313,981 |
Masque Sound Audio-video Furnishing & Installation | 6/29/22 | $407,022 |
Modern Fold Styles Inc Wall Partition Furnishing & Installation | 6/29/22 | $234,953 |
Auerbach Pollock Friedlander Audio-video Design | 6/29/22 | $205,614 |
Iweiss Rigging System Furnishing & Installation | 6/29/22 | $125,198 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,168,217 |
| Noncash contributions included in lines 1a–1f | $504,347 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,168,217 |
| Total Program Service Revenue | $660,623 |
| Investment income | $0 |
| 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 | $3,828,840 |
| 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. | $594,424 |
| Compensation of current officers, directors, key employees. | $148,606 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $444,347 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $28,226 |
| Payroll taxes | $83,872 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,373 |
| Fees for services: Accounting | $26,398 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $290,968 |
| Advertising and promotion | $136,457 |
| Office expenses | $22,782 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,521,419 |
| Travel | $3,553 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,406 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $293,155 |
| Insurance | $36,496 |
| All other expenses | $0 |
| Total functional expenses | $3,590,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,836,282 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,062,812 |
| 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 | $340,172 |
| Net Land, buildings, and equipment | $2,810,014 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,049,280 |
| Accounts payable and accrued expenses | $319,177 |
| Grants payable | $0 |
| Deferred revenue | $749,910 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,069,087 |
| Net assets without donor restrictions | $3,017,381 |
| Net assets with donor restrictions | $1,962,812 |
| 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 | $6,049,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |
St Anns Warehouse Inc Brooklyn, NY | $32,618,208 | $8,833,127 |
Mount Carmel Guild Education Newark, NJ | $2,668,838 | $6,215,422 |
One Club For Creativity Inc New York, NY | $23,237,696 | $9,988,732 |
Consensus Building Institute Inc Cambridge, MA | $9,333,296 | $7,559,086 |