Overview
What is Artspace?
Artspace is a nonprofit organization situated in Salt Lake City, Utah, with a focus on community revitalization and providing affordable housing units for individuals with low and moderate incomes. They achieve this by renovating and improving existing buildings, as well as developing new affordable housing projects. Artspace serves as a developer of both residential and work spaces, primarily catering to artists, cultural organizations, non-profits, and others. Their mission is to foster stable, lively, and secure communities by offering affordable living and working spaces. They utilize New Markets Tax Credits in low-income areas to further their cause. With a team of four dedicated employees, Artspace makes a significant impact in promoting vibrant communities.
Official website here: www.artspaceutah.org
What are the reviews and ratings of this charity?
Charity Navigator has awarded Artspace a remarkable Four-Star out of Four Star rating, reflecting an overall score of 96%. This high rating is predominantly based on the organization’s strong accountability and finance metrics, with a perfect score in many areas such as independent board members and financial oversight. Their commitment to transparency is evidenced by solid policies related to conflict of interest and whistleblower protection. However, there is a noted deficiency as their tax form is missing from their website.
User reviews from GreatNonprofits could not be retrieved, so the feedback from the public about Artspace is not available at this time. Despite the absence of user reviews, the charity's impressive financial metrics, including a program expense ratio of over 95%, indicate that a significant portion of their funds supports their mission directly, showcasing their dedication to impactful programming.
Overall, Artspace demonstrates strong governance and fiscal responsibility, making it a trustworthy nonprofit organization. However, potential donors might seek additional information on their website that is currently lacking, such as the posting of financial documents.
This AI summary has been generated from information found on Charity Navigator.
Is Artspace legitimate?
Artspace is a legitimate nonprofit organization registered as a 501(c)(3) entity. Artspace 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: $301,365
Professional Fundraising Fees: $0
Other Salaries and Wages: $613,134
For more financial information, click here
Official website here: www.artspaceutah.org
What is the mission statement of Artspace?
Artspace, as a nonprofit organization, is dedicated to revitalizing communities by providing affordable living and working spaces for artists, cultural organizations, non-profits, and others. Their mission involves utilizing New Markets Tax Credits in low-income communities to create a stable, vibrant, and safe environment. Through their efforts, they renovate existing buildings and construct new projects to offer affordable rental units for low and moderate-income tenants. Artspace's community redevelopment projects aim to promote sustainable growth and foster a thriving atmosphere.
Official website here: www.artspaceutah.org
Who is the CEO of Artspace?
Jessica Norie is the Chair of Artspace.
Official website here: www.artspaceutah.org
What is the revenue of Artspace?
Artspace's revenue in 2022 was $7,535,260.
Official website here: www.artspaceutah.org
Who are the executives of Artspace and what are their salaries?
The average compensation at Artspace during 2022 was $228,625. There are 4 employees and 12 volunteers at Artspace.
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- Compensation: $281,273
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- Other: $18,747
- Compensation: $117,039
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- Other: $9,841
Official website here: www.artspaceutah.org
Where can I find the form 990 for Artspace?
Artspace's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.artspaceutah.org
Learn more at the official website: www.artspaceutah.org
Mission Statement of Artspace
Artspace, a nonprofit organization, is dedicated to revitalizing communities and promoting stable, vibrant, and safe environments by providing affordable living and work spaces. This mission is accomplished by creating housing opportunities for artists, cultural organizations, non-profits, and other entities. Artspace utilizes New Markets Tax Credits in low-income communities to facilitate this process, ensuring that the development of such spaces is financially sustainable.
In practical terms, Artspace undertakes housing projects to rejuvenate communities. They renovate and improve existing buildings to provide affordable rental units for low and moderate-income tenants. Additionally, Artspace initiates community redevelopment projects and creates new affordable housing projects, thus contributing to the revitalization of neighborhoods. By providing a supportive environment for artists and cultural organizations, Artspace plays a crucial role in fostering creativity and cultural growth within these communities.
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Impact
July, 2024
Artspace has a significant impact on communities by revitalizing neighborhoods, providing affordable housing options for low and moderate-income tenants, and fostering a stable and vibrant environment. By developing affordable living and work spaces for artists, cultural organizations, non-profits, and others, Artspace helps to promote community stability and safety. Through projects like building renovations, community redevelopment initiatives, and the creation of new affordable housing units, Artspace contributes to the overall well-being and sustainability of the neighborhoods it serves. Their use of New Markets Tax Credits in low-income communities further demonstrates their commitment to addressing housing affordability and community development.
This information is meant to be a general summary of Artspace. 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: $734,472
- Program Service Revenue: $6,594,965
- Gross Receipts: $7,683,484
Assets and Liabilities:
- Total Assets: $35,152,188
- Total Liabilities: $14,823,190
- Net Assets: $20,328,998
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$4,256,702
DEBT FORGIVENESS
Revenue
$2,140,500
OTHER
Revenue
$128,851
INTEREST INCOME
Revenue
$68,912
Organization Details
Founding Year
1980
Phone
(801) 355-0538Principal Officer
Jessica Norie
Main Address
230 SOUTH 500 WEST SUITE 235, SALT LAKE CITY, UT, 84101
Website
www.artspaceutah.orgNTEE Category
Code: L20 - Housing
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