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← CROSSTOWN ARTS

Form 990 for tax year 2022

Filed by CROSSTOWN ARTS.

What the amendment changed

Compared with the return it replaced , filed 15 March 2024. matched by us Only the Part I totals and the names listed in Part VII 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 expenses
$6,054,791 changed to $6,054,789
Total assets, end of year
$109,397,913 changed to $48,927,443
Total liabilities, end of year
$84,037,900 changed to $45,280,667
Net assets or fund balances, end of year
$25,360,013 changed to $3,646,776
Program services expenses
$5,239,876 changed to $5,239,874
Program service expenses (Part III)
$5,239,876 changed to $5,239,874

Totals

Total revenue
$4,885,921
Total expenses
$6,054,789
Contributions and grants received
$2,700,228
Grants paid
$0
Program service revenue
$1,208,736
Investment income
$1,080,741
Other revenue
-$103,784
Total assets, end of year
$48,927,443
Total liabilities, end of year
$45,280,667
Net assets or fund balances, end of year
$3,646,776
Program services expenses (Part IX)
$5,239,874
Management and general expenses
$760,317
Fundraising expenses
$54,598
Program service expenses (Part III)
$5,239,874

Program services were 86.5% 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.

  • 1f · All other contributions, gifts and grants

    $2,700,228

  • 2a · Program service revenue: CONCOURSE REVENUE

    total $538,780 · related or exempt $538,780

  • 2b · Program service revenue: RESIDENCY & SHARED ART MAKING

    total $418,400 · related or exempt $418,400

  • 2c · Program service revenue: EVENT REVENUE

    total $239,031 · related or exempt $239,031

  • 2d · Program service revenue: SYNC REVENUE

    total $12,525 · related or exempt $12,525

  • 3 · Investment income

    total $1,082,438 · excluded $1,082,438

  • 6a · Gross rents

    real property $291,956

  • 6b · Less rental expenses

    real property $317,630

  • 6c · Rental income or loss

    real property -$25,674

  • 6d · Net rental income or loss

    total -$25,674 · excluded -$25,674

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

    other assets $1,697

  • 7c · Gain or loss

    other assets -$1,697

  • 7d · Net gain or loss

    total -$1,697 · excluded -$1,697

  • 10a · Gross sales of inventory

    $350,502

  • 10b · Cost of goods sold

    $430,506

  • 10c · Net income from sales of inventory

    total -$80,004 · related or exempt -$80,004

  • 11a · Other revenue: OTHER INCOME

    total $1,894 · excluded $1,894

  • 11e · Other revenue, total

    $1,894

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $82,465 · program services $45,356 · management and general $28,862 · fundraising $8,247

  • 7 · Other salaries and wages

    total $1,005,053 · program services $649,325 · management and general $338,915 · fundraising $16,813

  • 9 · Other employee benefits

    total $177,976 · program services $104,555 · management and general $68,276 · fundraising $5,145

  • 10 · Payroll taxes

    total $56,516 · program services $56,516

  • 11g · Fees: other

    total $196,417 · program services $10,029 · management and general $186,388

  • 12 · Advertising and promotion

    total $287,817 · program services $269,527 · fundraising $18,290

  • 13 · Office expenses

    total $23,660 · program services $17,885 · management and general $5,775

  • 16 · Occupancy

    total $845,501 · program services $842,313 · management and general $3,188

  • 17 · Travel

    total $2,198 · program services $2,198

  • 20 · Interest

    total $1,460,536 · program services $1,455,343 · management and general $5,193

  • 22 · Depreciation, depletion and amortization

    total $938,305 · program services $938,305

  • 23 · Insurance

    total $64,177 · management and general $64,177

  • 24a · Other expenses: DIRECT PROGRAMMING EXPE

    total $625,379 · program services $625,379

  • 24b · Other expenses: SUPPLIES

    total $209,910 · program services $144,264 · management and general $59,543 · fundraising $6,103

  • 24c · Other expenses: BAD DEBT

    total $53,992 · program services $53,992

  • 24d · Other expenses: REPAIRS AND MAINTENANCE

    total $24,887 · program services $24,887

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $943,615 · end of year $1,040,245

  • 3 · Pledges and grants receivable

    beginning of year $492,560 · end of year $102,699

  • 7 · Other notes and loans receivable

    beginning of year $16,816,778 · end of year $24,255,578

  • 8 · Inventories for sale or use

    beginning of year $11,869 · end of year $8,437

  • 9 · Prepaid expenses and deferred charges

    beginning of year $125,704 · end of year $116,081

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

    $23,095,750

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

    $6,222,862

  • 10c · Land, buildings and equipment, net

    beginning of year $17,829,304 · end of year $16,872,888

  • 15 · Other assets

    beginning of year $2,237,384 · end of year $6,531,515

  • 17 · Accounts payable and accrued expenses

    beginning of year $237,871 · end of year $267,332

  • 19 · Deferred revenue

    beginning of year $11,791,584 · end of year $11,802,553

  • 24 · Unsecured notes and loans payable

    beginning of year $21,980,273 · end of year $21,788,293

  • 25 · Other liabilities

    beginning of year $6,729,885 · end of year $11,422,489

  • 27 · Net assets without donor restrictions

    beginning of year -$2,662,832 · end of year $3,530,345

  • 28 · Net assets with donor restrictions

    beginning of year $380,433 · end of year $116,431

Mission and programs · 2022

Mission

CROSSTOWN ARTS IS A CONTEMPORARY ARTS ORGANIZATION DEDICATED TO FURTHER CULTIVATING THE CREATIVE COMMUNITY IN MEMPHIS. MANAGING A VARIETY OF EXHIBITION, PERFORMANCE, AND PRODUCTION SPACES, CROSSTOWN ARTS SUPPORTS ARTISTS, MUSICIANS, AND AUDIENCES WITH A WIDE RANGE OF MULTIDISCIPLINARY AND COLLABORATIVE PROJECTS. CROSSTOWN ARTS FOUNDED AND MANAGED THE RENOVATION OF CROSSTOWN CONCOURSE, A ONE-MILLION-SQUARE-FOOT MIXED-USE DEVELOPMENT IN THE FORMER SEARS BUILDING. OVER 40,000 SQUARE FEET OF SPACE IN CROSSTOWN CONCOURSE IS DEDICATED TO THE NON-PROFIT ARTS ORGANIZATION'S ARTS AND MUSIC PROGRAMMING.

  • CROSSTOWN ARTS MANAGES A VARIETY OF EXHIBITION SPACES THAT INCLUDE OVER 5,000 SQUARE FEET OF GALLERY SPACE IN MULTIPLE LOCATIONS. THE EXHIBITION PROGRAM HOSTS A DIVERSE RANGE OF MEMPHIS-BASED AND NATIONAL/INTERNATIONAL VISUAL ARTISTS, AND INCLUDES A DELIBERATE MIX OF INDIVIDUAL AND GROUP SHOWS CURATED AND ORGANIZED BY INDIVIDUALS AND/OR OTHER ARTS ORGANIZATIONS, OFTEN WITH A FOCUS ON INTERCONNECTING ARTISTS AND CONTENT FROM VARIED BACKGROUNDS. EXHIBITIONS RANGE FROM HIGHLY CURATED SHOWS BY PROFESSIONAL ARTISTS WHO WORK IN COMPLEX AND COMPELLING SUBJECT MATTER TO OPEN-CALL SHOWS THAT WELCOME A BROAD SCOPE OF PARTICIPANTS WORKING AT ANY LEVEL OF EXPERTISE. ALL VISUAL ART EXHIBITIONS ARE FREE AND OPEN TO THE PUBLIC WITH 100% OF ALL ART SALES GOING DIRECTLY TO THE EXHIBITING ARTIST(S). CROSSTOWN ARTS MANAGES A VARIETY OF PERFORMANCE SPACES FOR LIVE MUSIC THAT INCLUDE A SMALL, INTIMATE VENUE FOR AUDIENCES OF UP TO 125 PEOPLE, AS WELL AS A BLACK-BOX THEATER FOR AUDIENCES OF UP TO 400 PEOPLE. CROSSTOWN ARTS' MUSIC PROGRAMMING FOCUSES ON LIVE PERFORMANCES BY MEMPHIS-BASED MUSICIANS, AS WELL AS NATIONALLY AND INTERNATIONALLY RENOWNED TOURING MUSICIANS SEEKING TO PERFORM IN THESE EXTRAORDINARILY INTIMATE VENUES, WHICH WERE DESIGNED TO PROVIDE A PREMIERE SONIC EXPERIENCE FOR THE AUDIENCE. THE THEATER IS EQUIPPED WITH STATE-OF-THE-ART AUDIO AND A DCP DIGITAL PROJECTION SYSTEM THAT SUPPORTS CROSSTOWN ARTS' ARTHOUSE FILM PROGRAMMING, WHICH INCLUDES COLLABORATIVE LIVE MUSIC SCORES FOR FILM SCREENINGS.

    Expenses $1,295,392 · Revenue $239,031

  • CROSSTOWN ARTS MANAGES A VARIETY OF MULTIDISCIPLINARY AND COLLABORATIVE PRODUCTION SPACES THAT ARE THE CORE ELEMENTS OF THE RESIDENCY PROGRAM, WHICH HOSTS OVER 60 MEMPHIS-BASED AND VISITING ARTISTS AND MUSICIANS, WORKING IN ANY MEDIUM, EACH YEAR. THE RESIDENCY PROGRAM OFFERS ACCEPTED RESIDENTS THE GIFT OF UNINTERRUPTED TIME AND SPACE TO WORK ON THEIR CREATIVE PROJECTS BY PROVIDING STUDIO WORK SPACES, SEPARATE INDIVIDUAL AND FAMILY RESIDENTIAL HOUSING VIA ON-SITE APARTMENTS, AND MEALS, AT NO COST TO RESIDENTS. THESE ARTISTS, MUSICIANS, COMPOSERS, PHOTOGRAPHERS, FILMMAKERS, WRITERS, AND DANCERS ARE ABLE TO SPEND DEDICATED TIME ON THEIR WORK, IN WHATEVER CAPACITY THEY CHOOSE, WHILE PARTICIPATING IN THE RESIDENCY PROGRAM. NO EXHIBITIONS OR PERFORMANCES ARE REQUIRED OF THE RESIDENTS, BUT THEY ARE INVITED TO SHARE THEIR WORK THROUGH ARTIST TALKS AND A PUBLIC OPEN STUDIO NIGHT DURING EACH RESIDENCY SESSION.PARTICIPANTS IN THE RESIDENCY PROGRAM HAVE ACCESS TO PRODUCTION RESOURCES AND FACILITIES THAT INCLUDE A FULL-SCALE WOODSHOP, A CNC MACHINE, A LASER CUTTER, LARGE-FORMAT DIGITAL PRINTERS, HIGH-END SCANNERS, DIGITAL LABS WITH ALL MAJOR MUSIC/SOUND/DESIGN/VIDEO EDITING SOFTWARE, SCREEN PRINTING, AND MORE. THESE PRODUCTION RESOURCES ARE ALSO AVAILABLE TO ANY NON-RESIDENT ARTISTS AND MUSICIANS IN MEMPHIS FOR A LOW MONTHLY FEE.

    Expenses $564,151 · Revenue $57,709

  • CROSSTOWN ARTS CREATES A WIDE RANGE OF PUBLIC PROGRAMMING IN AND AROUND CROSSTOWN CONCOURSE TO HELP REVITALIZE MEMPHIS' CROSSTOWN NEIGHBORHOOD. THIS PUBLIC PROGRAMMING INCLUDES ONGOING FREE, LARGE-SCALE PUBLIC EVENTS THROUGHOUT THE YEAR IN CROSSTOWN CONCOURSE'S OUTDOOR PUBLIC PLAZA AND INDOOR PUBLIC ATRIUM SPACES.

    Expenses $2,087,522 · Revenue $899,471

  • DEPRECIATION, RENT, MUSICIAN SERVICES, PUBLIC ENGAGEMENT

    Expenses $1,292,809 · Revenue $12,525

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

Listed in Part VII

  • Richard Lou

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Barbara L Deans

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ken Steorts

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Derwin Sisnett

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • McLean Wilson

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Christopher Miner

    EXECUTIVE DIRECTOR

    Total calculated
    $116,112
    From this org
    $99,455
    From related orgs
    $0
    Other
    $16,657
    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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • CITY IMPACT LLC

    TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES · TN · income $291,994 · assets $4,289,303

  • RIVER CITY RENTAL HOUSING LLC

    TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES · TN · income $0 · assets $0

  • MEMPHIS APARTMENT INVESTMENTS LLC

    TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES · TN · income $0 · assets $0

  • LOST IN THE COSIMOS LLC

    TO OBTAIN ADDITIONAL FUNDING FOR DEVELOPMENT · TN · income $72,648 · assets $6,574,360

  • SUSTAINING THE ARTS LLC

    PROVIDE EMERGENCY FINANCIAL RELIEF TO MUSICIANS · TN · income $0 · assets $54,091

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CROSSTOWN CURB MARKET INC

    C · RESTAURANT · TN · 100% owned · share of income $704,400 · share of assets $112,640

    Directly controlled by CROSSTOWN REDEVELOPMENT COOPERATIVE ASSOCIATION

  • CROSSTOWN LLC

    C · TN · 100% owned · share of income $28,603,817 · share of assets $395,527,389

    Directly controlled by CROSSTOWN REDEVELOPMENT COOPERATIVE ASSOCIATION

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2024
IRS schema version
2022v5.0
Source object
202441309349302319

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