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← CULTURAL DEVELOPMENT CORPORATION OF THE DISTRICT OF COLUMBIA

Form 990 for tax year 2024

Filed by CULTURAL DEVELOPMENT CORPORATION OF THE DISTRICT OF COLUMBIA.

Totals

Total revenue
$2,969,379
Total expenses
$2,236,002
Contributions and grants received
$226,906
Grants paid
$420,000
Program service revenue
$130,702
Investment income
$2,611,771
Other revenue
$0
Total assets, end of year
$1,471,433
Total liabilities, end of year
$769,452
Net assets or fund balances, end of year
$701,981
Program services expenses (Part IX)
$1,606,428
Management and general expenses
$295,191
Fundraising expenses
$334,383
Program service expenses (Part III)
$1,606,428

Program services were 71.8% 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.

  • 1e · Government grants (contributions)

    $135,204

  • 1f · All other contributions, gifts and grants

    $91,702

  • 2a · Program service revenue: Source

    total $120,986 · related or exempt $120,986

  • 2b · Program service revenue: Consulting

    total $9,716 · related or exempt $9,716

  • 3 · Investment income

    total $2,822 · related or exempt $2,822

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    other assets $4,500,000

  • 7b · Less cost or other basis and sales expenses

    other assets $1,891,051

  • 7c · Gain or loss

    securities $0 · other assets $2,608,949

  • 7d · Net gain or loss

    total $2,608,949 · related or exempt $2,608,949

  • 8c · Net income from fundraising events

    total $0

  • 9c · Net income from gaming

    total $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $420,000 · program services $420,000

  • 5 · Compensation of officers, directors and key employees

    total $115,921 · program services $81,145 · management and general $5,796 · fundraising $28,980

  • 7 · Other salaries and wages

    total $512,703 · program services $265,919 · management and general $62,158 · fundraising $184,626

  • 9 · Other employee benefits

    total $45,154 · program services $25,045 · management and general $4,694 · fundraising $15,415

  • 10 · Payroll taxes

    total $51,954 · program services $28,612 · management and general $5,732 · fundraising $17,610

  • 11c · Fees: accounting

    total $45,175 · program services $27,276 · management and general $1,112 · fundraising $16,787

  • 11g · Fees: other

    total $156,476 · program services $143,443 · management and general $1,800 · fundraising $11,233

  • 12 · Advertising and promotion

    total $57 · program services $57

  • 13 · Office expenses

    total $22,690 · program services $22,690

  • 14 · Information technology

    total $8,152 · program services $4,452 · management and general $855 · fundraising $2,845

  • 16 · Occupancy

    total $3,350 · program services $3,350

  • 17 · Travel

    total $6,757 · program services $6,757

  • 19 · Conferences, conventions and meetings

    total $5,370 · program services $5,370

  • 20 · Interest

    total $209,827 · program services $188,153 · management and general $21,674

  • 22 · Depreciation, depletion and amortization

    total $76,379 · program services $38,383 · management and general $9,170 · fundraising $28,826

  • 23 · Insurance

    total $22,049 · program services $12,823 · management and general $7,742 · fundraising $1,484

  • 24a · Other expenses: Telephone and Fax

    total $5,213 · management and general $5,213

  • 24b · Other expenses: Web Hosting

    total $5,159 · program services $2,197 · management and general $2,962

  • 24c · Other expenses: Printing and Reproduction

    total $12,204 · program services $12,204

  • 24d · Other expenses: Postage and Delivery

    total $14,388 · program services $13,848 · management and general $527 · fundraising $13

  • 24e · All other expenses

    total $497,024 · program services $304,704 · management and general $165,756 · fundraising $26,564

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $316,264 · end of year $151,999

  • 2 · Savings and temporary cash investments

    end of year $1,319,434

  • 4 · Accounts receivable

    beginning of year $90,194

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $1,857,045 · end of year $0

  • 15 · Other assets

    beginning of year $41,756

  • 17 · Accounts payable and accrued expenses

    beginning of year $57,064 · end of year $613,855

  • 23 · Secured mortgages and notes payable

    beginning of year $2,125,000

  • 24 · Unsecured notes and loans payable

    beginning of year $136,439 · end of year $155,597

  • 25 · Other liabilities

    beginning of year $18,152

  • 27 · Net assets without donor restrictions

    beginning of year -$31,396 · end of year $701,981

Mission and programs · 2024

Mission

Cultural Development Corporation (CulturalDC) creates opportunities for artists and arts organizations that stimulate economic development and improve the quality of the DC area. CulturalDC current programs include operating the Source Theater, presenting visual and performing arts programs through their Mobile Arts Programming and Mobile Art Gallery, and providing artspace design, development and management support services.

Activities or mission (Part I)

Cultural Development Corporation (CulturalDC) creates opportunities for artists and arts organizations that stimulate economic development and improve the quality of the DC area. CulturalDCs current programs include operating the Source Theater, presenting visual and performing arts programs through their Mobile Arts Programming and Mobile Art Gallery, and providing artspace design, development and management support services.

  • Mobile Arts Program - CulturalDC converted a 40ft. shipping container into a Mobile Art Gallery that moves to a new location every 8-12 weeks, featuring a different artist and focusing on community engagement. CulturalDC also activates vacant retail spaces across the city. CulturalDC breaks down physical access barriers by delivering high-quality art directly to people's doorsteps.

    Expenses $533,705 · Revenue $9,716

  • Expenses $605,049 · Revenue $120,986

  • Expenses $47,674

  • General Programs - Granting

    Expenses $420,000 · Grants $420,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Hiroshi Jacobs

    President

    Total calculated
    $0
    Hours/week
    2

  • Emily Ann Alexander

    Vice President

    Total calculated
    $0
    Hours/week
    2

  • Cotter Spratley

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Jessica Nigro

    Immediate Past President

    Total calculated
    $0
    Hours/week
    2

  • Avery Ash

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Brin Frazier

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Greg Ghent

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Kellyn Mahan

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Michelle Green

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Stephanie Mercedes

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • J Brooks Martin

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Maurice Perry

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Nia Rubin

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Mehari Sequar

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Joshua Maps Glover

    Director

    Total calculated
    $0
    Hours/week
    0.25

  • Kristi Maiselman

    Executive Director

    Total calculated
    $115,921
    From this org
    $115,921
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

Provenance

Return type
form_990
Tax year
2024
Filed
13 January 2026
IRS schema version
2024v5.2
Source object
202630159349300503

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