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Nonprofiteer
← WESTERN AVENUE COMMUNITY FOR THE ARTS INC

Form 990 for tax year 2022

Filed by WESTERN AVENUE COMMUNITY FOR THE ARTS INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2022 , filed 19 February 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$2,952,079 changed to $3,144,598
Total expenses
$715,785 changed to $2,367,684
Contributions and grants received
$2,213,330 changed to $906,494
Investment income
$45 changed to $7,449
Other revenue
$738,704 changed to $2,230,655
Total assets, end of year
$21,021,482 changed to $21,893,246
Total liabilities, end of year
$18,785,188 changed to $18,880,038
Net assets or fund balances, end of year
$2,236,294 changed to $3,013,208
Program services expenses
$715,785 changed to $2,268,431
Management and general expenses
$0 changed to $87,648
Fundraising expenses
$0 changed to $11,605
Program service expenses (Part III)
$715,785 changed to $2,268,431

Listed only on the earlier return

  • Awilda Irzarry

Listed only on the later return

  • Awilda Irizarry

Listed under a different title

  • James Grace: EXECUTIVE DIRECTOR then VICE PRESIDENT

Totals

Total revenue
$2,952,079
Total expenses
$715,785
Contributions and grants received
$2,213,330
Grants paid
$0
Program service revenue
$0
Investment income
$45
Other revenue
$738,704
Total assets, end of year
$21,021,482
Total liabilities, end of year
$18,785,188
Net assets or fund balances, end of year
$2,236,294
Program services expenses (Part IX)
$715,785
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$715,785

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1d · Related organizations

    $2,213,330

  • 1g · Noncash contributions included above

    $2,213,330

  • 3 · Investment income

    total $45 · excluded $45

  • 6a · Gross rents

    real property $721,125

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $721,125

  • 6d · Net rental income or loss

    total $721,125 · related or exempt $721,125

  • 11a · Other revenue: OTHER INCOME

    total $17,579 · related or exempt $17,579

  • 11e · Other revenue, total

    $17,579

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $43,098 · program services $43,098

  • 9 · Other employee benefits

    total $1,089 · program services $1,089

  • 10 · Payroll taxes

    total $4,219 · program services $4,219

  • 11a · Fees: management

    total $28,476 · program services $28,476

  • 11c · Fees: accounting

    total $2,638 · program services $2,638

  • 11g · Fees: other

    total $12,061 · program services $12,061

  • 12 · Advertising and promotion

    total $2,161 · program services $2,161

  • 13 · Office expenses

    total $4,115 · program services $4,115

  • 16 · Occupancy

    total $157,925 · program services $157,925

  • 20 · Interest

    total $216,251 · program services $216,251

  • 22 · Depreciation, depletion and amortization

    total $168,165 · program services $168,165

  • 23 · Insurance

    total $75,587 · program services $75,587

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    end of year $783,865

  • 4 · Accounts receivable

    end of year $6,008

  • 10a · Land, buildings and equipment: cost or other basis

    $20,179,768

  • 10b · Land, buildings and equipment: accumulated depreciation

    $168,165

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $20,011,603

  • 15 · Other assets

    beginning of year $0 · end of year $220,006

  • 17 · Accounts payable and accrued expenses

    end of year $67,596

  • 19 · Deferred revenue

    end of year $79,209

  • 23 · Secured mortgages and notes payable

    end of year $18,369,270

  • 25 · Other liabilities

    beginning of year $0 · end of year $269,113

  • 27 · Net assets without donor restrictions

    end of year $2,236,294

Mission and programs · 2022

Mission

THE CORPORATION'S PRIMARY PURPOSE IS TO CREATE THRIVING ECOSYSTEMS THAT SUPPORT THE ARTS, CULTURE AND COMMUNITIES THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PROGRAMS, SERVICES AND ADVOCACY WITH A FOCUS ON AFFORDABLE ARTIST WORK, LIVE/WORK AND COMMUNITY SPACES AND OTHER MAKER SPACES WHERE WORK CAN BE CREATED, REHEARSED, AND PRESENTED.

  • IN MARCH 2022, WACA PURCHASED WESTERN AVENUE STUDIOS AND LOFTS IN LOWELL MASSACHUSETTS, A MIXED-USE CONDOMINIUM PROPERTY WHICH IS PRIMARILY COMPRISED OF 250 WORK-ONLY ARTIST STUDIO SPACES IN THREE BUILDINGS AND 50 LIVE/WORK STUDIOS IN A FOURTH BUILDING. WACA'S INTEREST IN THE CONDOMINIUM IS FOUR UNITS OF A FIVE-UNIT PROPERTY, REPRESENTING AN UNDIVIDED 92% COMBINED PERCENTAGE INTEREST OF THE ENTIRETY OF THE PROPERTY.WACA IS AN EXAMPLE CREATIVE CAMPUS INITIATIVE WITH A MISSION TO CREATE THRIVING ECOSYSTEMS THAT SUPPORT THE ARTS, CULTURE AND COMMUNITIES THROUGH THE DEVELOPMENT AND STEWARDSHIP OF PROGRAMS, SERVICES AND ADVOCACY WITH A FOCUS ON AFFORDABLE ARTIST WORK, LIVE/WORK AND COMMUNITY SPACES AND OTHER MAKER SPACES WHERE WORK CAN BE CREATED, REHEARSED, AND PRESENTED.

    Expenses $715,785 · Revenue $721,125

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Cheryl Tougias

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • James Buza

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Awilda Irzarry

    CLERK

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Joanne Kaliontzis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Lisa Nickerson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • James Grace

    EXECUTIVE DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 40 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
1 August 2023
IRS schema version
2022v5.0
Source object
202302139349300800

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