Overview
What is Arts Business Collaborative Inc?
Arts Business Collaborative Inc is a nonprofit organization situated in Long Island City, New York, dedicated to enhancing the quality of life for people of color. They achieve this goal by focusing on the arts and STEM fields, addressing challenges in access to capital, networks, and training. The organization operates through two main services: the Grassroots Action Project and the Rising Tides Research Institute. Their mission is to systematically improve living conditions in communities of color. Arts Business Collaborative Inc primarily relies on contributions from both public and private grants to fund its operations, boasting a team of 12 individuals.
Official website here: www.artsbusinesscollaborative.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Arts Business Collaborative Inc has received a solid Three-Star rating from Charity Navigator, reflecting its commitment to accountability and community engagement. The organization boasts a perfect score of 100 in the Culture & Community category, indicating a strong focus on fostering inclusive practices and supporting the arts community. Their financial oversight is robust, with 100% independent board members and a well-managed approach to financial statements and audits.
Strengths include a high program expense ratio of 77.22%, demonstrating that a significant portion of funds is allocated towards their mission-driven programs. The organization also shows no material diversion of assets, which highlights its integrity in managing resources. However, while their liability to assets ratio is favorable, the working capital ratio of just 0.23 years raises concerns about their short-term liquidity.
Despite its strengths, the fundraising efficiency ratio is notably low at $0.06, indicating challenges in generating revenue from fundraising efforts. This aspect may require attention to enhance their financial sustainability. Overall, while Arts Business Collaborative Inc displays strong governance and community engagement, it might benefit from improving fundraising strategies to support its initiatives better.
This AI summary has been generated from information found on Charity Navigator.
Is Arts Business Collaborative Inc legitimate?
Arts Business Collaborative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Arts Business Collaborative Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $329,921
Professional Fundraising Fees: $0
Other Salaries and Wages: $452,403
For more financial information, click here
Official website here: www.artsbusinesscollaborative.org
What is the mission statement of Arts Business Collaborative Inc?
The Arts Business Collaborative Inc is a technical assistance and research organization dedicated to enhancing the quality of life for people of color. They achieve this goal by focusing on the arts and STEM fields, addressing the challenges of access to capital, networks, and training that hinder creative and professional endeavors. The organization aims to systematically improve the quality of life in communities of color through two main services: the Grassroots Action Project and the Rising Tides Research Institute. The Arts Business Collaborative Inc is primarily supported by contributions from both the public and private grants.
Official website here: www.artsbusinesscollaborative.org
Who is the CEO of Arts Business Collaborative Inc?
Katlyn Bloomfield is the Ceo- Board Secretary of Arts Business Collaborative Inc. The CEO's salary of Arts Business Collaborative Inc is $209,114 and their total compensation is $217,037.
Official website here: www.artsbusinesscollaborative.org
What is the revenue of Arts Business Collaborative Inc?
Arts Business Collaborative Inc's revenue in 2022 was $2,142,247.
Official website here: www.artsbusinesscollaborative.org
Who are the executives of Arts Business Collaborative Inc and what are their salaries?
The average compensation at Arts Business Collaborative Inc during 2022 was $65,194. There are 12 employees at Arts Business Collaborative Inc.
Here are 5 key members and their salaries (Arts Business Collaborative Inc's CEO's salary is $209,114 and their total compensation is $217,037):
- Compensation: $209,114
- Related: $0
- Other: $7,923
- Compensation: $109,470
- Related: $0
- Other: $3,414
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $21,796
- Related: $0
- Other: $0
Official website here: www.artsbusinesscollaborative.org
Where can I find the form 990 for Arts Business Collaborative Inc?
Arts Business Collaborative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.artsbusinesscollaborative.org
Learn more at the official website: www.artsbusinesscollaborative.org
Mission Statement of Arts Business Collaborative Inc
Arts Business Collaborative Inc, as a technical assistance and research organization, is dedicated to enhancing the quality of life for people of color. This is accomplished through the integration of arts and STEM (science, technology, engineering, and mathematics) fields. The organization identifies and addresses the fundamental challenges that hinder the creative and professional pursuits of individuals in these communities, primarily focusing on access to capital, networks, and training. Arts Business Collaborative Inc aims to systematically improve the living conditions in communities of color through two primary services: the Grassroots Action Project and the Rising Tides Research Institute. The organization primarily relies on contributions from both public and private grants for its support.
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Impact
July, 2024
Arts Business Collaborative Inc's impact is evident in its mission to improve the quality of life for people of color through the arts and STEM fields. By focusing on addressing the barriers that impede creative and professional endeavors, such as access to capital, networks, and training, ABC is working to systematically enhance the quality of life in communities of color. Through initiatives like the Grassroots Action Project and the Rising Tides Research Institute, the organization is making meaningful strides towards uplifting and empowering marginalized communities. With the support of public contributions and private grants, Arts Business Collaborative Inc is actively driving positive change and promoting community improvement.
This information is meant to be a general summary of Arts Business Collaborative Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,522
- Program Service Revenue: $220,459
- Gross Receipts: $2,142,247
Assets and Liabilities:
- Total Assets: $1,559,343
- Total Liabilities: $171,115
- Net Assets: $1,388,228
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPONSORSHIP FEE REVENU
Revenue
$179,709
OTHER INCOME
Revenue
$37,250
CONSULTING SERVICE REV
Revenue
$3,500
Organization Details
Founding Year
2018
Phone
(781) 375-6968Principal Officer
Katlyn Bloomfield
Main Address
31-00 47TH AVENUE 3100, LONG ISLAND CITY, NY, 11101
NTEE Category
Code: S50 - Community improvement
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