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← COMMUNITY ARTS STABILIZATION

Form 990 for tax year 2023

Filed by COMMUNITY ARTS STABILIZATION.

Totals

Total revenue
$6,309,561
Total expenses
$7,220,969
Contributions and grants received
$2,125,440
Grants paid
$505,852
Program service revenue
$57,347
Investment income
$4,122,137
Other revenue
$4,637
Total assets, end of year
$30,418,865
Total liabilities, end of year
$2,337,015
Net assets or fund balances, end of year
$28,081,850
Program services expenses (Part IX)
$6,255,549
Management and general expenses
$689,547
Fundraising expenses
$275,873
Program service expenses (Part III)
$6,255,549

Program services were 86.6% 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

    $2,125,440

  • 2a · Program service revenue: MANAGEMENT FEES

    total $56,772 · related or exempt $56,772

  • 2b · Program service revenue: REIMBURSEMENT INCOME

    total $575 · related or exempt $575

  • 3 · Investment income

    total $284,196 · related or exempt $284,196

  • 7a · Gross sales of assets other than inventory

    other assets $3,837,941

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

    other assets $0

  • 7c · Gain or loss

    other assets $3,837,941

  • 7d · Net gain or loss

    total $3,837,941 · related or exempt $3,837,941

  • 11a · Other revenue: FLOWTHROUGH INCOME FROM P'SHIPS

    total $4,637 · related or exempt $4,637

  • 11e · Other revenue, total

    $4,637

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $505,852 · program services $505,852

  • 5 · Compensation of officers, directors and key employees

    total $816,659 · program services $522,662 · management and general $204,165 · fundraising $89,832

  • 7 · Other salaries and wages

    total $731,690 · program services $468,281 · management and general $182,923 · fundraising $80,486

  • 9 · Other employee benefits

    total $109,139 · program services $69,849 · management and general $27,285 · fundraising $12,005

  • 10 · Payroll taxes

    total $116,475 · program services $74,544 · management and general $29,119 · fundraising $12,812

  • 11b · Fees: legal

    total $36,247 · program services $20,768 · management and general $12,907 · fundraising $2,572

  • 11c · Fees: accounting

    total $78,700 · program services $45,092 · management and general $28,023 · fundraising $5,585

  • 11g · Fees: other

    total $206,279 · program services $118,188 · management and general $73,450 · fundraising $14,641

  • 13 · Office expenses

    total $391,495 · program services $250,562 · management and general $97,867 · fundraising $43,066

  • 16 · Occupancy

    total $120,349 · program services $77,025 · management and general $30,087 · fundraising $13,237

  • 19 · Conferences, conventions and meetings

    total $3,836 · program services $2,455 · management and general $959 · fundraising $422

  • 20 · Interest

    total $444 · program services $444

  • 22 · Depreciation, depletion and amortization

    total $1,860 · program services $1,860

  • 23 · Insurance

    total $11,047 · program services $7,070 · management and general $2,762 · fundraising $1,215

  • 24a · Other expenses: LOAN FORGIVENESS

    total $4,090,897 · program services $4,090,897

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,671,848 · end of year $2,153,902

  • 3 · Pledges and grants receivable

    beginning of year $162,500 · end of year $767,500

  • 4 · Accounts receivable

    beginning of year $1,445,676 · end of year $648,630

  • 7 · Other notes and loans receivable

    beginning of year $22,788,837 · end of year $18,901,559

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,000 · end of year $1,000

  • 13 · Investments: program-related

    beginning of year $1,763,031 · end of year $5,238,905

  • 14 · Intangible assets

    end of year $0

  • 15 · Other assets

    beginning of year $2,676,716 · end of year $2,707,369

  • 17 · Accounts payable and accrued expenses

    beginning of year $549,048 · end of year $328,307

  • 25 · Other liabilities

    beginning of year $3,928,710 · end of year $2,008,708

  • 27 · Net assets without donor restrictions

    beginning of year $24,944,537 · end of year $27,182,387

  • 28 · Net assets with donor restrictions

    beginning of year $4,087,313 · end of year $899,463

Mission and programs · 2023

Mission

TO CREATE STABLE PHYSICAL SPACES FOR ARTS AND CULTURAL ORGANIZATIONS TO FACILITATE EQUITABLE URBAN TRANSFORMATION.

Activities or mission (Part I)

PURCHASING AND LEASING SPACE FOR THE EXCLUSIVE USE OF NONPROFIT ARTS ORGANIZATIONS SERVING LOW INCOME COMMUNITIES.

  • COMMUNITY ART STABILIZATION TRUST CREATES STABLE PHYSICAL SPACES FOR ARTS AND CULTURAL ORGANIZATIONS, PROPERTIES FOR PURCHASE OR MASTER LEASING, AND IMPLEMENTING COMPLEMENTARY INITIATIVES WHICH BUILD KNOWLEDGE AND CAPABILITY OF ARTS ORGANIZATIONS TO MAKE THOUGHTFUL, INFORMED DECISIONS REGARDING REAL ESTATE MATTERS. INITIATIVES INCLUDE THE KEEPING SPACE - OAKLAND PROGRAM WHICH PROVIDES TECHNICAL ASSISTANCE, NETWORKING OPPORTUNITIES, RESEARCH AND LIMITED RE-GRANTING FUNDS SUPPORTING ARTS ORGANIZATIONS' EFFORTS TO FIND, SECURE AND MANAGE LONG-TERM REAL ESTATE PROJECTS.

    Expenses $6,255,549 · Grants $505,852 · Revenue $4,184,121

As filed on the 2023 return.

Listed in Part VII

  • TIM VAN LOAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • IMAAN TAGHAVI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHELLEY TROTT

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • DEBORAH CULLINAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRADY FORREST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MOY ENG

    CEO EMERITUS

    Total calculated
    $186,098
    From this org
    $158,598
    From related orgs
    $0
    Other
    $27,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,598
    Bonus
    $0
    Other
    $0
    Deferred
    $27,500
    Nontaxable benefits
    $0
    Filer's total
    $186,098

  • KIYOSHI IKEDA

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $55,500
    From this org
    $55,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • CAROLYN CHOY

    DIRECTOR OF REAL ESTATE DE

    Total calculated
    $189,867
    From this org
    $167,367
    From related orgs
    $0
    Other
    $22,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,367
    Bonus
    $0
    Other
    $0
    Deferred
    $22,500
    Nontaxable benefits
    $0
    Filer's total
    $189,867

  • JOSHUA SIMON

    SENIOR ADVISOR

    Total calculated
    $224,070
    From this org
    $194,070
    From related orgs
    $0
    Other
    $30,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,070
    Bonus
    $0
    Other
    $0
    Deferred
    $30,000
    Nontaxable benefits
    $0
    Filer's total
    $224,070

  • MATTHEW MCTIRE

    DIRECTOR OF EVENTS AND PROGRAMMING

    Total calculated
    $121,790
    From this org
    $120,590
    From related orgs
    $0
    Other
    $1,200
    Hours/week
    40

  • CATHERINE NGUYEN

    DIRECTOR OF MARKETING AND COMMUNICATIONS

    Total calculated
    $111,659
    From this org
    $101,159
    From related orgs
    $0
    Other
    $10,500
    Hours/week
    40

  • YI ZHONG

    REAL ESTATE PROJECT MANAGER

    Total calculated
    $148,463
    From this org
    $130,963
    From related orgs
    $0
    Other
    $17,500
    Hours/week
    40

  • OWEN LEVIN

    DIRECTOR OF FINANCE AND OP

    Total calculated
    $161,124
    From this org
    $131,124
    From related orgs
    $0
    Other
    $30,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,124
    Bonus
    $0
    Other
    $0
    Deferred
    $30,000
    Nontaxable benefits
    $0
    Filer's total
    $161,124

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

  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CAST 447 MINNA LLC

    501(C)(3) · REAL ESTATE · CA · controlled entity

    Directly controlled by COMMUNITY ARTS STABILIZATION TRUST

  • LIBERATION PARK MARKET HALL

    501(C)(3) · REAL ESTATE · CA · controlled entity

    Directly controlled by COMMUNITY ARTS STABILIZATION TRUST

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CAST 1007 MARKET LLC

    RELATED · REAL ESTATE · CA · 90% owned · share of income -$101,049 · share of assets $3,033,379 · general or managing partner

    Directly controlled by COMMUNITY ARTS STABILIZATION TRUST

  • CAST 80 TURK LLC

    RELATED · REAL ESTATE · CA · 1% owned · share of income $15,190 · share of assets $1,362,695 · general or managing partner

    Directly controlled by COMMUNITY ARTS STABILIZATION TRUST

  • CAST POWERHOUSE QALICB LLC

    RELATED · REAL ESTATE · CA · 51% owned · share of income -$306,496 · share of assets $7,575,397 · general or managing partner

    Directly controlled by CAST POWERHOUSE MANAGER LLC

  • 1721 BROADWAY LLC

    RELATED · REAL ESTATE · CA · 93% owned · share of income $101,343 · share of assets $8,129,159 · general or managing partner

    Directly controlled by COMMUNITY ARTS STABILIZATION TRUST

Related corporations and trusts

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

  • CAST POWERHOUSE MANAGER LLC

    C · INVESTING · CA · 100% owned · share of income -$309,220 · share of assets $1,015,457 · controlled entity

    Directly controlled by COMMUNITY ARTS STABILIZATION TRUST

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202433039349301888

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