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Artspace Projects
Artspace Projects reported $32.7 million in revenue and $42.2 million in expenses for calendar year 2024. Of every $100 it spent, $53.44 went to program services, $45.15 to management and general costs and $1.41 to fundraising. Its largest source of revenue was contributions and grants: 46.6% of the total. Government grants made up 10.8%. The highest compensation it reported for one person was $295,535 (President). 9 people received more than $100,000 in reportable compensation. Revenue rose 18% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $42MFor context, the median across 876 covered arts, culture & humanities charities: $79.98 programs, $13.89 management, $6.13 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $33MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 53.4% | 78.5% |
| Management & general Part IX 25(C) ÷ 25(A) | 45.2% | 13.6% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.4% | 6.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.10 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 46.6% | 57.5% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 10.8% | 1.7% |
| Program service revenue share Part VIII 2g ÷ 12 | 43.5% | 20.8% |
| Highest reported compensation Part VII-A, columns D–F | $295,535 | $385,706 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.70% | 2.03% |
| People paid over $100,000 Part VII, line 2 | 9 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 7.3 | 36.6 |
| Independent voting board members Part VI 1a–1b | 34 of 34 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseReal Estate Projects - Provides properties that are sensitive to the unique needs and environment necessary for artists, arts organizations, workforce housing and arts venues, through wholly, or partially owned limited partnerships which own commercial and/or residential properties. These real estate projects provide space for artists to work on their particular means of artistic expression. As an example, a painter or dancer needs space to produce a huge painting, or to practice their dance steps
Development - Develops workforce housing, artist live/workspaces and cultural facilities with both public agencies and private groups by involvement in real estate projects as project coordinator, developer, co-developer, and general contractor; informs and educates the general public and key decision makers about projects and issues related to workforce housing, space, artists and art facilities
Consulting - Artspace Consulting helps organizations and local governments design spaces for community services. We combine real estate expertise with insights into the creative sector to offer support, feasibility studies, and coaching. Our focus is on creating sustainable, affordable, and equitable spaces, and we've assisted over 300 communities and arts organizations in advancing projects that benefit creative communities
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| President Officer, 40.00 hrs/week | $271,989 | $0 | $23,546 | $295,535 |
| Chief Operating Officer Officer, 40.00 hrs/week | $201,793 | $0 | $24,555 | $226,348 |
| Sr. VP - Properties Key employee, 50.00 hrs/week | $192,988 | $0 | $21,063 | $214,051 |
| Chief Financial Officer Officer, 50.00 hrs/week | $163,460 | $0 | $21,383 | $184,843 |
| Sr. VP - National Advancement Key employee, 40.00 hrs/week | $156,404 | $0 | $23,902 | $180,306 |
| Sr. VP - Consulting Key employee, 50.00 hrs/week | $150,212 | $0 | $17,484 | $167,696 |
| VP - Governmental Relation Highest compensated employee, 40.00 hrs/week | $149,530 | $0 | $13,737 | $163,267 |
| VP - Asset Management Highest compensated employee, 40.00 hrs/week | $118,586 | $0 | $18,278 | $136,864 |
9 people received more than $100,000 in reportable compensation from Artspace Projects (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.3M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b34 · 34 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 544
- Volunteers Part I, line 640
Private foundation grants it received
11 private foundations reported grants to Artspace Projects totaling $1.6M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Artspace Projects's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Artspace Projects, you can publish a response that is linked from this page.
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Of every $100 Artspace Projects spent in 2024, $53.44 went to programs. The full breakdown, from its IRS Form 990:
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All arts, culture & humanities charities · Largest charities in Minnesota
Questions people ask
How much of Artspace Projects's spending goes to programs?
In calendar year 2024, Artspace Projects reported that 53.4% of its $42.2 million in expenses went to program services, 45.2% to management and general and 1.4% to fundraising (Form 990, Part IX).
How much does Artspace Projects pay its top executive?
The largest total compensation Artspace Projects reported for one person in calendar year 2024 was $295,535, for the role of President (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Artspace Projects get its money?
Of $32.7 million in revenue in calendar year 2024, 46.6% came from contributions and grants (including 10.8% from government grants) and 43.5% from program service revenue (Form 990, Part VIII).
Is Artspace Projects a registered charity?
The IRS lists EIN 41-1350071 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202522829349301002 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202423169349304587 · read the filing
- 2022: Form 990 for calendar year 2022, object 202322429349300022 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203009349300505 · read the filing
- 2020: Form 990 for calendar year 2020, object 202122779349300037 · read the filing
- 2019: Form 990 for calendar year 2019, object 202003189349312925 · read the filing
All filings for EIN 41-1350071: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.