Artspace Inc

Nonprofit profile at a glance

EIN
042986718
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Maynard, MA, USA
Phone
9788979828
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Arts Service Organizations and Activities

Official website

Reported finances

Revenue
$275,795
Expenses
$277,503
Assets
$28,230
Liabilities
$1,252

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Armand Diarbekirian (President)
  • Suchitra Mumford (CEO)

People named in this filing

  • Armand Diarbekirian (President)
  • Denise Shea (Clerk)
  • Gail Erwin (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promotion of the Arts by leasing real estate and sub-leasing it to performing artists for studio and performance space at below market rental levels and to provide Arts education classes, workshops, tours, and similar activities.

What it reported doing in 2025

Organization has secured a master tenancy of a building which is being sublet for use by artists as studios.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 29
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 54.1%; rating input score 54
  • Program expense ratio: 53.8%; rating input score 54
  • Fundraising efficiency: $1,694.93 raised per $1 spent on fundraising; rating input score 98; 98th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -0.6%; rating input score 33; 33rd percentile among comparable filings
  • Total-asset coverage ratio: 0.1; rating input score 7; 7th percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: -1% per year; rating input score 0; 25th percentile among comparable filings
  • Revenue growth: 2.2% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: -6.7% per year; rating input score 0; 8th percentile among comparable filings

Details

  • Where the money goes: 54.1% of revenue deployed · 53.8% of spending went to programs
  • Governance: 10 of 10 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $149K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 54/100.
  • Review — Financial Efficiency: Program expense ratio scored 54/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 33/100.
  • High — Sustainability: Total-asset coverage ratio scored 7/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.