585 Arts Inc

EIN: 862767219 501(c)(3) Arts, Culture & Humanities

Cambridge, MA

Total Revenue
$2,785,981
Total Expenses
$830,141
Total Assets
$5,865,656
Net Assets
$5,731,511
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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
2021
Legal Domicile
MA
Principal Officer
Constance Chin
Phone
6178764275
Tax Period
2023-07-01 to 2024-06-30

585 Arts Inc, founded in 2021, is a community nonprofit in the Arts, Culture & Humanities sector that reported $2.8M in total revenue in fiscal year 2023. Revenue fell 26% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $2.0M, a strong 70% operating margin.

Mission

The operation and programming of an expansive arts and performance space in Cambridge, MA.

Program Service Accomplishments

Program 1
Expenses: $388,965 Revenue: $2,397,600

The operation and programming of an expansive arts and performance space in Cambridge, MA.

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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 $2,397,600
Program Service Revenue $200,000
Investment Income $188,381
Other Revenue $0
TOTAL REVENUE $2,785,981

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $328,068
Program Expenses $388,965
Other Expenses $830,141
TOTAL EXPENSES $830,141

Year-over-Year Comparison

2023 2022 Change
Revenue $2,785,981 $3,752,363 -0.3%
Expenses $830,141 $754,780 +0.1%
Net Income $1,955,840 $2,997,583 -0.3%
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
4
Independent Members
3
Employees
N/A
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
3
$271,923
Total Directors
4
$271,923
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Andrea Itano President 1.00
Officer Director
$0 $0 $0
Maure Aronson Treasurer 1.00
Officer Director
$0 $46,376 $271,923
Nagesh Mahanthappa Clerk 1.00
Officer Director
$0 $0 $0
Salvatore Zinno Director 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
2025 No data No data No data No data
2024 $2,785,981 $830,141 $5,865,656 $1,955,840
2023 $3,752,363 $754,780 $4,104,772 $2,997,583
2022 $996,399 $225,114 $1,458,594 $771,285
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