GROUNDWORKS ART LAB INC

EIN: 270947724 501(c)(3) Arts, Culture & Humanities

BOULDER, CO

Total Revenue
$2,500,081
Total Expenses
$2,374,140
Total Assets
$12,728,955
Net Assets
$7,267,162
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2009
Legal Domicile
CO
Principal Officer
KARI PALAZZARI
Phone
7203796033
Tax Period
2024-01-01 to 2024-12-31

GROUNDWORKS ART LAB INC, founded in 2009, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.5M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $2.4M left a modest 5% surplus.

Mission

TO CULTIVATE THE ARTIST IN EACH OF US BY INVITING CREATIVE COLLABORATION IN THE STUDY, PRACTICE, AND ADVANCEMENT OF STUDIO ARTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,562,408
Program Service Revenue $889,036
Investment Income $6,928
Other Revenue $41,709
TOTAL REVENUE $2,500,081

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,263,124
Fundraising Expenses $154,820
Program Expenses $2,116,183
Other Expenses $1,111,016
TOTAL EXPENSES $2,374,140

Year-over-Year Comparison

2024 2023 Change
Revenue $2,500,081 $2,749,497 -0.1%
Expenses $2,374,140 $1,201,301 +1.0%
Net Income $125,941 $1,548,196 -0.9%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
10
Independent Members
10
Employees
66
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$160,517
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KARI PALAZZARI EXECUTIVE DI 40.00
Officer
$75,481 $2,520 $78,001
AARON WINSTON ARTISTIC DIR 40.00
Officer
$73,232 $9,284 $82,516
JESSICA ADAMS PRESIDENT 3.00
Officer Director
$0 $0 $0
URIAH BUELLER SECRETARY 3.00
Officer Director
$0 $0 $0
SAM PHARES TREASURER 3.00
Officer Director
$0 $0 $0
RENATE MAIRIE BOARD MEMBER 3.00
Director
$0 $0 $0
JULIE PENNER BOARD MEMBER 3.00
Director
$0 $0 $0
CYNTHIA RUGGERO BOARD MEMBER 3.00
Director
$0 $0 $0
HANNAH ROGAL BOARD MEMBER 3.00
Director
$0 $0 $0
GRANT YAMAKI BOARD MEMBER 3.00
Director
$0 $0 $0
MIKE SAGAN BOARD MEMBER 3.00
Director
$0 $0 $0
KELLIE ZELL BOARD MEMBER 3.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $2,500,081 $2,374,140 $12,728,955 $125,941
2023 $2,749,497 $1,201,301 $9,416,976 $1,548,196
2022 $2,799,374 $966,708 $5,918,579 $1,832,666
2021 $2,254,756 $704,181 $3,831,022 $1,550,575
2020 $800,661 $647,720 $2,224,506 $152,941
2019 $761,419 $537,012 $2,062,093 $224,407
2018 $2,181,765 $497,251 $1,838,858 $1,684,514
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