ARTS BUSINESS COLLABORATIVE INC

EIN: 832173068 501(c)(3) Community Improvement

LONG ISLAND CITY, NY

Total Revenue
$1,893,428
Total Expenses
$2,683,383
Total Assets
$676,942
Net Assets
$613,393
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
NY
Principal Officer
KATLYN BLOOMFIELD
Phone
7813756968
Tax Period
2023-01-01 to 2023-12-31

ARTS BUSINESS COLLABORATIVE INC, founded in 2018, is a community nonprofit in the Community Improvement sector that reported $1.9M in total revenue in fiscal year 2023. Revenue decreased 12% compared to the prior year. Expenses of $2.7M exceeded revenue, resulting in a 42% operating deficit.

Mission

ARTS BUSINESS COLLABORATIVE, INC IS A TECHNICAL ASSISTANCE AND RESEARCH ORGANIZATION WITH A MISSION TO IMPROVE QUALITY OF LIFE FOR PEOPLE OF COLOR THROUGH THE ARTS AND "STEM" SCIENCE, TECHNOLOGY, ENGINEERING, AND MATHEMATICS. THESE SERVICES FOCUS ON THE UNDERLYING FACTORS THAT IMPEDE THEIR CREATIVE AND PROFESSIONAL ENDEAVORS: ACCESS TO CAPITAL, NETWORKS, AND TRAINING. ABC AIMS TO SYSTEMICALLY IMPROVE THE QUALITY OF LIFE IN COMMUNITIES OF COLOR THROUGH TWO MAIN SERVICES: THE GRASSROOTS ACTION PROJECT AND THE RISING TIDES RESEARCH INSTITUTE. THE ORGANIZATION IS SUPPORTED PRIMARILY THROUGH CONTRIBUTIONS FROM THE PUBLIC AND PRIVATE GRANTS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,815,613
Program Service Revenue $76,512
Investment Income $1,303
Other Revenue $0
TOTAL REVENUE $1,893,428

Expense Breakdown

Grants Paid $541,202
Salaries & Benefits $981,271
Fundraising Expenses $150,859
Program Expenses $1,688,554
Other Expenses $1,160,910
TOTAL EXPENSES $2,683,383

Year-over-Year Comparison

2023 2022 Change
Revenue $1,893,428 $2,142,247 -0.1%
Expenses $2,683,383 $9,099,544 -0.7%
Net Income $-789,955 $-6,957,297 -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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
12
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
2
$364,490
Total Directors
6
$364,490
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KAT BLOOMFIELD CEO- BOARD SECRETARY 40.00
Officer Director
$187,519 $17,376 $204,895
JOSHUA BEAUCHEMIN CFO 40.00
Officer Director
$143,564 $16,031 $159,595
AKIL B DAVIS BOARD TREASURER 1.00
Director
$0 $0 $0
PHOENIX MILLACY JAY BOARD MEMBER 1.00
Director
$0 $0 $0
ISABEL JONES BOARD MEMBER 1.00
Director
$0 $0 $0
CONRHONDA BAKER BOARD MEMBER 1.00
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 No data No data No data No data
2023 $1,893,428 $2,683,383 $676,942 $-789,955
2022 $2,142,247 $9,099,544 $1,559,343 $-6,957,297
2021 $7,475,051 $5,883,836 $8,659,572 $1,591,215
2020 $10,163,543 $3,206,529 $7,017,438 $6,957,014
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