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Nonprofiteer
← THE LAUNDROMAT PROJECT INC

Form 990 for tax year 2022

Filed by THE LAUNDROMAT PROJECT INC.

Totals

Total revenue
$1,824,950
Total expenses
$2,033,921
Contributions and grants received
$1,756,284
Grants paid
$14,500
Program service revenue
$17,165
Investment income
$47,667
Other revenue
$3,834
Total assets, end of year
$6,598,573
Total liabilities, end of year
$241,020
Net assets or fund balances, end of year
$6,357,553
Program services expenses (Part IX)
$1,418,734
Management and general expenses
$392,674
Fundraising expenses
$222,513
Program service expenses (Part III)
$1,418,734

Program services were 69.8% 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.

  • 1c · Fundraising events

    $12,802

  • 1e · Government grants (contributions)

    $101,450

  • 1f · All other contributions, gifts and grants

    $1,642,032

  • 2a · Program service revenue: Program Revenue

    total $17,165 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $46,221 · unrelated business $0 · excluded $46,221

  • 7a · Gross sales of assets other than inventory

    other assets $1,496

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

    other assets $50

  • 7c · Gain or loss

    other assets $1,446

  • 7d · Net gain or loss

    total $1,446 · related or exempt $1,446 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $39,072

  • 8a · Fundraising events: contributions included on line 1c

    $12,802

  • 8b · Fundraising events: direct expenses

    $35,349

  • 8c · Net income from fundraising events

    total $3,723 · unrelated business $0 · excluded $3,723

  • 11a · Other revenue: Miscellaneous Income

    total $111 · related or exempt $111 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $111

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $14,500 · program services $14,500

  • 5 · Compensation of officers, directors and key employees

    total $239,671 · program services $183,615 · management and general $24,079 · fundraising $31,977

  • 7 · Other salaries and wages

    total $763,726 · program services $585,101 · management and general $76,728 · fundraising $101,897

  • 9 · Other employee benefits

    total $114,205 · program services $93,010 · management and general $10,597 · fundraising $10,598

  • 10 · Payroll taxes

    total $75,178 · program services $57,595 · management and general $7,553 · fundraising $10,030

  • 11f · Fees: investment management

    total $6,726 · program services $0 · management and general $6,726 · fundraising $0

  • 11g · Fees: other

    total $348,582 · program services $128,568 · management and general $170,810 · fundraising $49,204

  • 12 · Advertising and promotion

    total $10,195 · program services $334 · management and general $9,861 · fundraising $0

  • 13 · Office expenses

    total $30,087 · program services $23,705 · management and general $4,021 · fundraising $2,361

  • 14 · Information technology

    total $19,424 · program services $16,391 · management and general $1,605 · fundraising $1,428

  • 16 · Occupancy

    total $80,468 · program services $65,360 · management and general $8,128 · fundraising $6,980

  • 22 · Depreciation, depletion and amortization

    total $58,835 · program services $47,788 · management and general $5,944 · fundraising $5,103

  • 23 · Insurance

    total $7,021 · program services $5,703 · management and general $709 · fundraising $609

  • 24a · Other expenses: Art, production, and office supplies

    total $39,036 · program services $37,083 · management and general $1,051 · fundraising $902

  • 24b · Other expenses: Events and cultivation

    total $21,052 · program services $5,976 · management and general $15,076 · fundraising $0

  • 24c · Other expenses: Utilities

    total $9,758 · program services $7,927 · management and general $985 · fundraising $846

  • 24d · Other expenses: Bank and merchant fees

    total $11,053 · program services $0 · management and general $11,053 · fundraising $0

  • 24e · All other expenses

    total $184,404 · program services $146,078 · management and general $37,748 · fundraising $578

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $49,037 · end of year $1,483,937

  • 2 · Savings and temporary cash investments

    beginning of year $4,674,508 · end of year $774,005

  • 3 · Pledges and grants receivable

    beginning of year $1,779,505 · end of year $1,025,574

  • 4 · Accounts receivable

    end of year $1,000

  • 8 · Inventories for sale or use

    beginning of year $18,587 · end of year $18,538

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,334 · end of year $13,214

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

    $205,818

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

    $71,882

  • 10c · Land, buildings and equipment, net

    beginning of year $168,172 · end of year $133,936

  • 11 · Investments: publicly traded securities

    end of year $2,813,319

  • 14 · Intangible assets

    end of year $120,394

  • 15 · Other assets

    beginning of year $289,216 · end of year $214,656

  • 17 · Accounts payable and accrued expenses

    beginning of year $83,423 · end of year $56,657

  • 25 · Other liabilities

    beginning of year $259,195 · end of year $184,363

  • 27 · Net assets without donor restrictions

    beginning of year $4,072,324 · end of year $4,324,202

  • 28 · Net assets with donor restrictions

    beginning of year $2,579,417 · end of year $2,033,351

Mission and programs · 2022

Mission

The Laundromat Project advances artists and neighbors as change agents in their own communities through artist residencies, fellowships, and community engagement.

  • Anchor Neighborhood - The Organization operates a thriving community hub with workshops, public programs, and other arts programming for artists, neighbors, and community partners in the heart of Central Brooklyn.

    Expenses $582,328

  • Create Change Artist Development - Includes an artist residency that commissions 3-5 artists a year to create public art projects in local community spaces across New York City. It also includes a professional development program that supports up to 15 artists a year in deepening their socially-engaged creative practive.

    Expenses $726,482

  • Other Program Services: These expenses related to the general programming expenses that help supplement the Organization's key programs.

    Expenses $109,924 · Revenue $14,500

As filed on the 2022 return.

Listed in Part VII

  • Rasu Jilani

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Naomi Beckwith

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ashima Aggarwal

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Susan Delvalle

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kevin Rabsatt

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • George Suttles

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Olukemi Ilesanmi

    Executive Director until 12/31/2022

    Total calculated
    $134,455
    From this org
    $129,205
    From related orgs
    $0
    Other
    $5,250
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,064
    Bonus
    $10,700
    Other
    $5,250
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $136,014

  • Patton Hindle

    Board Chair

    Total calculated
    $0
    Hours/week
    1

  • Alison Cuzzolino

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Panthea Lee

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jessica Lee

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Salvador Munoz

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Diya Vij

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ayesha Williams

    Executive Director as of 1/1/2023

    Total calculated
    $111,756
    From this org
    $107,383
    From related orgs
    $0
    Other
    $4,373
    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
3 October 2023
IRS schema version
2022v5.0
Source object
202322769349301322

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