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← ARTS BUSINESS COLLABORATIVE INC

Form 990 for tax year 2022

Filed by ARTS BUSINESS COLLABORATIVE INC.

Totals

Total revenue
$2,142,247
Total expenses
$9,099,544
Contributions and grants received
$1,919,266
Grants paid
$3,255,222
Program service revenue
$220,459
Investment income
$2,522
Other revenue
$0
Total assets, end of year
$1,559,343
Total liabilities, end of year
$171,115
Net assets or fund balances, end of year
$1,388,228
Program services expenses (Part IX)
$7,726,258
Management and general expenses
$1,310,098
Fundraising expenses
$63,188
Program service expenses (Part III)
$7,726,258

Program services were 84.9% 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)

    $50,000

  • 1f · All other contributions, gifts and grants

    $1,869,266

  • 2a · Program service revenue: SPONSORSHIP FEE REVENU

    total $179,709 · related or exempt $179,709

  • 2b · Program service revenue: OTHER INCOME

    total $37,250 · related or exempt $37,250

  • 2c · Program service revenue: CONSULTING SERVICE REV

    total $3,500 · related or exempt $3,500

  • 3 · Investment income

    total $2,522 · excluded $2,522

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,930,121 · program services $2,930,121

  • 2 · Grants to domestic individuals

    total $285,101 · program services $285,101

  • 3 · Grants to foreign organizations and individuals

    total $40,000 · program services $40,000

  • 5 · Compensation of officers, directors and key employees

    total $329,921 · management and general $329,921

  • 7 · Other salaries and wages

    total $452,403 · program services $367,216 · management and general $85,187

  • 8 · Pension plan contributions

    total $12,472 · program services $10,110 · management and general $2,362

  • 9 · Other employee benefits

    total $142,593 · program services $67,696 · management and general $74,897

  • 10 · Payroll taxes

    total $68,275 · program services $28,803 · management and general $39,472

  • 11b · Fees: legal

    total $14,700 · management and general $14,700

  • 11c · Fees: accounting

    total $142,837 · management and general $142,837

  • 11g · Fees: other

    total $106,598 · program services $106,598

  • 12 · Advertising and promotion

    total $71,375 · program services $71,375

  • 13 · Office expenses

    total $40,106 · program services $23,867 · management and general $16,239

  • 14 · Information technology

    total $46,062 · management and general $46,062

  • 16 · Occupancy

    total $43,723 · program services $43,723

  • 17 · Travel

    total $41,509 · program services $41,509

  • 20 · Interest

    total $470 · management and general $470

  • 23 · Insurance

    total $5,737 · program services $5,737

  • 24a · Other expenses: CLOSE FISCAL SPONSOR PR

    total $2,547,606 · program services $2,547,606

  • 24b · Other expenses: CONTRACTORS

    total $1,078,661 · program services $819,269 · management and general $259,392

  • 24c · Other expenses: PROFESSIONAL FEES

    total $298,559 · management and general $298,559

  • 24d · Other expenses: PROGRAM EXPENSE

    total $294,965 · program services $294,965

  • 24e · All other expenses

    total $105,750 · program services $42,562 · fundraising $63,188

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,523,877 · end of year $1,508,593

  • 4 · Accounts receivable

    beginning of year $103,204 · end of year $50,750

  • 15 · Other assets

    beginning of year $32,491 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,024 · end of year $157,366

  • 24 · Unsecured notes and loans payable

    beginning of year $55,900 · end of year $13,749

  • 27 · Net assets without donor restrictions

    beginning of year $4,675,726 · end of year -$1,090,568

  • 28 · Net assets with donor restrictions

    beginning of year $3,879,922 · end of year $2,478,796

Mission and programs · 2022

Mission

ARTS BUSINESS COLLABORATIVE, INC IS A TECHNICAL ASSISTANCE AND RESEARCH ORGANIZATION WITH A MISSION TO IMPROVE QUALITY OF LIFE FOR PEOPLE OF COLOR THROUGH THE ARTS AND "STEM" SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS. THESE SERVICES FOCUS ON THE UNDERLYING FACTORS THAT IMPEDE THEIR CREATIVE AND PROFESSIONAL ENDEAVORS: ACCESS TO CAPITAL, NETWORKS, AND TRAINING. ABC AIMS TO SYSTEMICALLY IMPROVE THE QUALITY OF LIFE IN COMMUNITIES OF COLOR THROUGH TWO MAIN SERVICES: THE GRASSROOTS ACTION PROJECT AND THE RISING TIDES RESEARCH INSTITUTE. THE ORGANIZATION IS SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE PUBLIC AND PRIVATE GRANTS.

  • ARTS BUSINESS COLLABORATIVE, INC IS A TECHNICAL ASSISTANCE AND RESEARCH ORGANIZATION WITH A MISSION TO IMPROVE QUALITY OF LIFE FOR PEOPLE OF COLOR THROUGH THE ARTS AND "STEM" SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS. THESE SERVICES FOCUS ON THE UNDERLYING FACTORS THAT IMPEDE THEIR CREATIVE AND PROFESSIONAL ENDEAVORS: ACCESS TO CAPITAL, NETWORKS, AND TRAINING. ABC AIMS TO SYSTEMICALLY IMPROVE THE QUALITY OF LIFE IN COMMUNITIES OF COLOR THROUGH TWO MAIN SERVICES: THE GRASSROOTS ACTION PROJECT AND THE RISING TIDES RESEARCH INSTITUTE. THE ORGANIZATION IS SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE PUBLIC AND PRIVATE GRANTS.

    Expenses $7,726,258 · Grants $3,255,222 · Revenue $220,459

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

Listed in Part VII

  • Kat Bloomfield

    CEO- BOARD SECRETARY

    Total calculated
    $217,037
    From this org
    $209,114
    From related orgs
    $0
    Other
    $7,923
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $209,114
    Bonus
    $0
    Other
    $0
    Deferred
    $6,273
    Nontaxable benefits
    $1,650
    Filer's total
    $217,037

  • Joshua Beauchemin

    CFO

    Total calculated
    $112,884
    From this org
    $109,470
    From related orgs
    $0
    Other
    $3,414
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $109,470
    Bonus
    $0
    Other
    $0
    Deferred
    $2,550
    Nontaxable benefits
    $864
    Filer's total
    $112,884

  • Akil B Davis

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Phoenix Millacy Jay

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Tatum Turner

    FORMER BOARD MEMBER

    Total calculated
    $21,796
    From this org
    $21,796
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $21,796
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $21,796

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
14 November 2023
IRS schema version
2022v5.0
Source object
202303189349311615

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