Crosstown Arts
Nonprofit profile at a glance
- EIN
- 271876711
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Memphis, TN, USA
- Phone
- 9015078030
- Rating
- 91
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $5,146,987
- Expenses
- $4,830,913
- Assets
- $100,520,354
- Liabilities
- $65,106,221
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- Stacy Wright (Executive Director)
Highest reported compensation
- Stacy Wright (Executive Director): $106,891 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Crosstown arts is a contemporary arts organization dedicated to further cultivating the creative community in memphis. Managing a variety of exhibition, performance, and production spaces, crosstown arts supports artists, musicians, and audiences with a wide range of multidisciplinary and collaborative projects. Crosstown arts founded and managed the renovation of crosstown concourse, a one-million-square-foot mixed-use development in the former sears building. Over 40,000 square feet of space in crosstown concourse is dedicated to the non-profit arts organization's arts and music programming.
What it reported doing in 2024
Crosstown arts manages a variety of exhibition spaces that include over 5,000 square feet of gallery space in multiple locations. The exhibition program hosts a diverse range of memphis-based and national/international visual artists, and includes a deliberate mix of individual and group shows curated and organized by individuals and/or other arts organizations, often with a focus on interconnecting artists and content from varied backgrounds. Exhibitions range from highly curated shows by professional artists who work in complex and compelling subject matter to open-call shows that welcome a broad scope of participants working at any level of expertise. All visual art exhibitions are free and open to the public with 100% of all art sales going directly to the exhibiting artist(s). Crosstown arts manages a variety of performance spaces for live music that include a small, intimate venue for audiences of up to 125 people, as well as a black-box theater for audiences of up to 400 people. Crosstown arts' music programming focuses on live performances by memphis-based musicians, as well as nationally and internationally renowned touring musicians seeking to perform in these extraordinarily intimate venues, which were designed to provide a premiere sonic experience for the audience. The theater is equipped with state-of-the-art audio and a dcp digital projection system that supports crosstown arts' arthouse film programming, which includes collaborative live music scores for film screenings.
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
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 100
- Accountability: 95
- Sustainability: 64
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 87.1%; rating input score 87
- Program expense ratio: 86.8%; rating input score 87
- Fundraising efficiency: $35.48 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.1%; rating input score 54; 54th percentile among comparable filings
- Total-asset coverage ratio: 20.81; rating input score 96; 96th percentile among comparable filings
- Liabilities to assets ratio: 0.65; rating input score 15; 15th percentile among comparable filings
- Officer compensation ratio: 2.2%; rating input score 74; 74th percentile among comparable filings
Growth
- Program expense growth: 5.7% per year; rating input score 100; 44th percentile among comparable filings
- Revenue growth: 4.4% per year; rating input score 100; 37th percentile among comparable filings
- Asset growth: 16.9% per year; rating input score 100; 78th percentile among comparable filings
Details
- Where the money goes: 87.1% of revenue deployed · 86.8% of spending went to programs
- Governance: 7 of 7 board members independent · 7 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $4.2M in reported program spending
- Leadership: top reported pay $107K · 8 people listed
- Consistency: 29 of 29 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 1 filed related-organization link
- 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 — Sustainability: Operating margin scored 54/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- High — Sustainability: Liabilities to assets ratio scored 15/100.