The Studios Inc
Nonprofit profile at a glance
- EIN
- 263792862
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Kansas City, MO, USA
- Phone
- 8169947134
- Rating
- 78
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Arts, Cultural Organizations - Multipurpose
Reported finances
- Revenue
- $204,425
- Expenses
- $296,062
- Assets
- $2,780,775
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
8 people listed
Executive titles in this filing
- BRADLEY W NICHOLSON (PRESIDENT)
- KATE MEAD (VICE PRESIDENT)
People named in this filing
- BRADLEY W NICHOLSON (PRESIDENT)
- LINDA NICHOLSON (TREASURER)
- BRAD SATTERWHITE (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 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The studios inc provides studio space, professional development, networking, and exhibitions for mid-career artists in greater Kansas city.
What it reported doing in 2024
Each resident artist is assigned a studio of between 750 and 3,000 square feet. The studios inc is open 7 days a week. There is also a large fenced-in lot available for outdoor installations, performances, and/or workspace. Each resident artist commits to a show in the studios inc exhibition space (4,500 square feet of exhibition space indoors & large fenced-in lot outdoors).resident artists gain more public recognition for their work and broader access to collectors.resident artist's work are included in the annual exhibition. The studios.gallery exhibition and lending program brings more visibility to resident artist's work through the program's publicity and placement of artwork from the collection.the studios patron program, provides the opportunity for a heightened level of dialogue between resident artist and patron through studio visits and exhibitions. In addition to funding an artist's studio, patrons are encouraged to cultivate relationships with the artists to learn more about the creative process and to provide additional career advancement assistance.
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.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 76
- Transparency & Controls: 86
- Accountability: 70
- Sustainability: 47
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.7%; rating input score 97
- Program expense ratio: 67.4%; rating input score 67
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 19th 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: 2 of 7 controls in place; rating input score 29
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -44.8%; rating input score 6; 6th percentile among comparable filings
- Total-asset coverage ratio: 9.39; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 6.6% per year; rating input score 100; 60th percentile among comparable filings
- Revenue growth: 4.7% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: 1.7% per year; rating input score 100; 32nd percentile among comparable filings
Details
- Where the money goes: 96.7% of revenue deployed · 67.4% of spending went to programs
- Governance: 8 of 8 board members independent · 2 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $200K in reported program spending
- Leadership: top reported pay $0 · 8 people listed
- Consistency: 21 of 22 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes major donors
- Filing history: 13 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- 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.
- High — Accountability: Governance controls: 4 of 6 not reported.
- High — Sustainability: Operating margin scored 6/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.