Totals
- Total revenue
- $4,864,555
- Total expenses
- $5,489,536
- Contributions and grants received
- $2,544,389
- Grants paid
- $0
- Program service revenue
- $1,228,536
- Investment income
- $1,174,786
- Other revenue
- -$83,156
- Total assets, end of year
- $100,312,782
- Total liabilities, end of year
- $64,890,870
- Net assets or fund balances, end of year
- $35,421,912
- Program services expenses (Part IX)
- $4,625,509
- Management and general expenses
- $801,638
- Fundraising expenses
- $62,389
- Program service expenses (Part III)
- $4,625,509
Program services were 84.3% 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
$2,544,389
-
2a · Program service revenue: Concourse Revenue
total $577,836 · related or exempt $577,836
-
2b · Program service revenue: Residency & Shared Art Making
total $432,481 · related or exempt $432,481
-
2c · Program service revenue: Event Revenue
total $202,319 · related or exempt $202,319
-
2d · Program service revenue: Sync Revenue
total $15,900 · related or exempt $15,900
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,173,173 · excluded $1,173,173
-
6a · Gross rents
real property $72,362
-
6b · Less rental expenses
real property $164,916
-
6c · Rental income or loss
real property -$92,554 · personal property $0
-
6d · Net rental income or loss
total -$92,554 · excluded -$92,554
-
7a · Gross sales of assets other than inventory
other assets $1,613
-
7c · Gain or loss
securities $0 · other assets $1,613
-
7d · Net gain or loss
total $1,613 · excluded $1,613
-
10a · Gross sales of inventory
$378,768
-
10b · Cost of goods sold
$370,718
-
10c · Net income from sales of inventory
total $8,050 · related or exempt $8,050
-
11a · Other revenue: OTHER INCOME
total $1,348 · excluded $1,348
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,348
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $100,000 · program services $55,000 · management and general $25,000 · fundraising $20,000
-
7 · Other salaries and wages
total $721,410 · program services $454,589 · management and general $253,573 · fundraising $13,248
-
9 · Other employee benefits
total $122,326 · program services $72,450 · management and general $45,128 · fundraising $4,748
-
10 · Payroll taxes
total $56,479 · program services $56,479
-
11g · Fees: other
total $60,740 · program services $753 · management and general $59,987 · fundraising $0
-
12 · Advertising and promotion
total $318,348 · program services $298,011 · fundraising $20,337
-
13 · Office expenses
total $13,331 · program services $7,019 · management and general $6,312
-
16 · Occupancy
total $744,824 · program services $743,490 · management and general $1,334
-
17 · Travel
total $4,175 · program services $4,175
-
20 · Interest
total $1,592,503 · program services $1,587,269 · management and general $5,234
-
22 · Depreciation, depletion and amortization
total $775,272 · program services $775,272
-
23 · Insurance
total $89,741 · program services $1,637 · management and general $88,104
-
24a · Other expenses: DIRECT PROGRAMMING EXPENSE
total $488,814 · program services $488,814
-
24b · Other expenses: Repairs and Maintenance
total $289,705 · program services $9,497 · management and general $280,208
-
24c · Other expenses: SUPPLIES
total $111,594 · program services $71,054 · management and general $36,484 · fundraising $4,056
-
24d · Other expenses: Other
total $274 · management and general $274
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,040,245 · end of year $874,163
-
3 · Pledges and grants receivable
beginning of year $102,699 · end of year $56,195
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $24,255,578 · end of year $78,063,928
-
8 · Inventories for sale or use
beginning of year $8,437 · end of year $8,437
-
9 · Prepaid expenses and deferred charges
beginning of year $116,081 · end of year $31,398
-
10a · Land, buildings and equipment: cost or other basis
$19,408,114
-
10b · Land, buildings and equipment: accumulated depreciation
$5,268,134
-
10c · Land, buildings and equipment, net
beginning of year $16,872,888 · end of year $14,139,980
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $6,531,515 · end of year $7,138,681
-
17 · Accounts payable and accrued expenses
beginning of year $267,332 · end of year $166,236
-
19 · Deferred revenue
beginning of year $11,802,553 · end of year $11,826,891
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $21,788,293 · end of year $21,335,503
-
25 · Other liabilities
beginning of year $11,422,489 · end of year $31,562,240
-
27 · Net assets without donor restrictions
beginning of year $3,530,345 · end of year $35,356,396
-
28 · Net assets with donor restrictions
beginning of year $116,431 · end of year $65,516
Mission and programs · 2023
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 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 $2,143,010 · Revenue $919,864
-
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 $975,514 · Revenue $208,269
-
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 $216,131 · Revenue $92,553
-
DEPRECIATION, RENT, MUSICIAN SERVICES, PUBLIC ENGAGEMENT
Expenses $1,290,854 · Revenue $15,900
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Ken Steorts
Secretary
- Total calculated
- $0
- Hours/week
- 2
-
Richard Lou
Chair
- Total calculated
- $0
- Hours/week
- 2
-
Barbara L Deans
Board Director
- Total calculated
- $0
- Hours/week
- 1
-
Derwin Sisnett
Board Director
- Total calculated
- $0
- Hours/week
- 1
-
Elliot Perry
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
McLean Wilson
Board Director
- Total calculated
- $0
- Hours/week
- 1
-
Steve Dunavant
Board Director
- Total calculated
- $0
- Hours/week
- 2
-
Stacy Wright
Executive Director
- Total calculated
- $106,600
- From this org
- $100,000
- From related orgs
- $0
- Other
- $6,600
- Hours/week
- 55
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 $72,364 · assets $0
Directly controlled by Crosstown Arts
-
RIVER CITY RENTAL HOUSING LLC
TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES · TN · income $169,047 · assets $169,047
Directly controlled by Crosstown Arts
-
SUSTAINING THE ARTS LLC
TO MAINTAIN AND ISOLATE INVESTMENT ASSETS FOR LIABILITY PURPOSES · TN · income $0 · assets $0
Directly controlled by Crosstown Arts
-
LOST IN THE COSIMOS LLC
TO OBTAIN ADDITIONAL FUNDING FOR DEVELOPMENT · TN · income $357,956 · assets $11,035,680
Directly controlled by Crosstown Arts
-
CROSSTOWN MEMHIS INVESTMENT FUND LLC
TO OBTAIN ADDITIONAL FUNDING FOR DEVELOPMENT · TN · income $0 · assets $53,808,350
Directly controlled by CROSSTOWN ARTS
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202520739349300607
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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