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← WAREHOUSE 505

Form 990 for tax year 2023

Filed by WAREHOUSE 505.

Totals

Total revenue
$577,634
Total expenses
$675,103
Contributions and grants received
$478,363
Grants paid
$0
Program service revenue
$47,800
Investment income
$129
Other revenue
$51,342
Total assets, end of year
$264,236
Total liabilities, end of year
$506,519
Net assets or fund balances, end of year
-$242,283
Program services expenses (Part IX)
$578,317
Management and general expenses
$75,318
Fundraising expenses
$21,468
Program service expenses (Part III)
$578,317

Program services were 85.7% 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)

    $459,349

  • 1f · All other contributions, gifts and grants

    $19,014

  • 2a · Program service revenue: JOB SKILLS PROGRAM

    total $47,725 · related or exempt $47,725

  • 2b · Program service revenue: PROGRAM PARTICIPANT FEES

    total $75 · related or exempt $75

  • 3 · Investment income

    total $129 · excluded $129

  • 6a · Gross rents

    real property $47,712

  • 6c · Rental income or loss

    real property $47,712

  • 6d · Net rental income or loss

    total $47,712 · excluded $47,712

  • 11a · Other revenue: OTHER INCOME

    total $3,630 · related or exempt $3,630

  • 11e · Other revenue, total

    $3,630

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $67,620 · program services $54,096 · management and general $9,813 · fundraising $3,711

  • 7 · Other salaries and wages

    total $185,429 · program services $172,963 · management and general $3,194 · fundraising $9,272

  • 8 · Pension plan contributions

    total $500 · program services $450 · management and general $25 · fundraising $25

  • 9 · Other employee benefits

    total $9,128 · program services $8,901 · management and general $101 · fundraising $126

  • 10 · Payroll taxes

    total $61,266 · program services $55,139 · management and general $3,063 · fundraising $3,064

  • 11c · Fees: accounting

    total $40,724 · management and general $40,724

  • 11g · Fees: other

    total $27,045 · program services $24,341 · management and general $1,352 · fundraising $1,352

  • 13 · Office expenses

    total $50,368 · program services $45,810 · management and general $3,647 · fundraising $911

  • 16 · Occupancy

    total $122,004 · program services $109,804 · management and general $9,760 · fundraising $2,440

  • 17 · Travel

    total $1,080 · program services $972 · management and general $86 · fundraising $22

  • 19 · Conferences, conventions and meetings

    total $2,012 · program services $1,811 · management and general $161 · fundraising $40

  • 23 · Insurance

    total $19,382 · program services $17,444 · management and general $1,550 · fundraising $388

  • 24a · Other expenses: PROGRAM SUPPLIES & EXP

    total $49,826 · program services $49,826

  • 24b · Other expenses: PRINT SHOP SUPPLIES

    total $31,505 · program services $31,505

  • 24c · Other expenses: OTHER EXPENSES

    total $5,839 · program services $5,255 · management and general $467 · fundraising $117

  • 24d · Other expenses: FEES AND PENALTIES

    total $1,375 · management and general $1,375

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,457

  • 3 · Pledges and grants receivable

    beginning of year $64,954 · end of year $39,419

  • 4 · Accounts receivable

    beginning of year $1,790

  • 9 · Prepaid expenses and deferred charges

    beginning of year $83,800 · end of year $172,924

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

    $52,893

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

    $1,000

  • 10c · Land, buildings and equipment, net

    beginning of year $30,893 · end of year $51,893

  • 17 · Accounts payable and accrued expenses

    beginning of year $144,869 · end of year $197,604

  • 22 · Loans and payables to officers and key people

    beginning of year $167,000 · end of year $253,256

  • 23 · Secured mortgages and notes payable

    beginning of year $24,839 · end of year $55,659

  • 27 · Net assets without donor restrictions

    beginning of year -$149,814 · end of year -$242,283

  • 28 · Net assets with donor restrictions

    beginning of year $5,000

Mission and programs · 2023

Mission

WAREHOUSE 505 (FORMERLY NEW MEXICO XTREME SPORTS ASSN.) INVESTS IN ALBUQUERQUE'S YOUTH BY PROVIDING A PLACE TO LEARN AND DEVELOP SKILLS UNDER MENTORSHIP WITHIN THE CREATIVE ARTS AND INDIVIDUAL SPORTS.

  • WAREHOUSE 505 IS A NON-PROFIT, SOCIAL ENTERPRISE AND VENUE THAT INVESTS IN ALBUQUERQUE'S YOUTH BY PROVIDING A PLACE TO LEARN AND DEVELOP SKILLS UNDER MENTORSHIP WITHIN THE CREATIVE ARTS AND INDIVIDUAL SPORTS. ESTABLISHED IN 2009 AS WAREHOUSE 508, WE HAVE WORKED TOWARDS FUTHERING CONNECTIONS BETWEEN YOUTH AND THE COMMUNITY AND FOSTERING EMPLOYMENT EXPERIENCES AND OPPORTUNITIES. WAREHOUSE 505 OFFERS A VARIETY OF AFTER-SCHOOL PROGRAMMING IN THE VISUAL AND PERFORMING ARTS FOR YOUTH AGES 12-30. WORKING UNDER TALENTED MENTORS AND ARTISTS WITHIN THE CITY, YOUTH WILL LEARN AND DEVELOP SKILLS THAT THEY CAN TAKE WITH THEM FOR FUTURE EMPLOYMENT, WHICH WAREHOUSE 505 WORKS TO HELP FOSTER. PREVIOUS CLASSES WE HAVE OFFERED INCLUDE MURAL ARTS, PHOTOGRAPHY, MUSIC, ACTING, MOVIE MAKING, SEWING, DIGIAL DRAWING, DJ, AND SO MUCH MORE THROUGH CREATIVE ARTS, WAREHOUSE 505 PROVIDES: -- A SAFE AND SECURE FACILITY FOR YOUTH, THEIR FAMILIES AND THE COMMUNITY, INCLUDING INDIVIDUALS, ORGANIZATIONS AND BUSINESSES TO ENGAGE, INTERACT AND OPERATE. -- OFFERS CREATIVE ARTS, INDIVIDUAL SPORTS AND LEADERSHIP CLASSES AND WORKSHOPS FOR YOUTH AGES 13-20. -- DEVELOPS EMPLOYMENT OPPORTUNITIES FOR YOUTH. -- MAINTAINS AN ACCESSIBLE PERFORMANCE SPACE.

    Expenses $578,317 · Revenue $47,800

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Duane Kinsley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Susie Tallman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Danielle Weed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Sean Weed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jessica Hernandez

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Mark Gorham

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    2

  • Sue Fisher

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • David Crosby

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Thierry Gonzalez

    EXECUTIVE DI

    Total calculated
    $67,620
    From this org
    $59,025
    From related orgs
    $0
    Other
    $8,595
    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.

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.0
Source object
202413209349322031

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