THE MADISON ART AND INNOVATION CENTER

EIN: 922518138 501(c)(3) Human Services

MADISON, MN

Total Revenue
$215,548
Total Expenses
N/A
Total Assets
$163,958
Net Assets
$134,652
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
MN
Principal Officer
KRISTINE SHELSTAD
Phone
5126269972
Tax Period
2024-01-01 to 2024-12-31

THE MADISON ART AND INNOVATION CENTER, founded in 2023, is a small nonprofit in the Human Services sector that reported $216K in total revenue in fiscal year 2024. Revenue surged 762% from the prior year, signaling strong growth momentum.

Mission

THE MISSION OF THE MADISON ART AND INNOVATION CENTER (THE CENTER) IS TO SERVE AS AN ACCESSIBLE, EQUITABLE AND INCLUSIVE SPACE FOR ART, CULTURE, INNOVATION AND COMMUNITY BUILDING. TO ACHIEVE THESE ENDS, THE CENTER WILL ENGAGE IN THE FOLLOWING PRIMARY ACTIVITIES: (1) PROVIDING FREE MEETING SPACE AND SUPPORTIVE RESOURCES FOR NONPROFITS AND COMMUNITY ORGANIZATIONS; (2) HOSTING COMMUNITY EDUCATION RELATED TO HEALTHY LIVING, WELLNESS, AND OTHER EDUCATIONAL TOPICS; (3) PROVIDING FREE ART- AND MUSIC-FOCUSED EXPERIENCES TO THE PUBLIC BY OFFERING SPACE FOR LOCAL ARTISTS TO DISPLAY WORK, HOSTING MUSICAL PERFORMANCES AND CONCERT SERIES, AND PROVIDING CLASSROOM SPACE FOR ARTS EDUCATION; AND (4) COMMUNITY WELLNESS CLASSES AND PROGRAMS.

Program Service Accomplishments

Program 1

FIRST, THE CENTER WILL PROMOTE DEEPENING OF COMMUNITY CONNECTIONS BY OFFERING FREE MEETING SPACE FOR NONPROFITS AND COMMUNITY ORGANIZATIONS SUCH AS THOSE SUPPORTING SENIOR SOCIAL ACTIVITIES, ART...

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FIRST, THE CENTER WILL PROMOTE DEEPENING OF COMMUNITY CONNECTIONS BY OFFERING FREE MEETING SPACE FOR NONPROFITS AND COMMUNITY ORGANIZATIONS SUCH AS THOSE SUPPORTING SENIOR SOCIAL ACTIVITIES, ART COUNCILS, LOCAL COMMUNITY FOUNDATIONS, COMMUNITY THEATER GROUPS, FOOD BANKS, QUILTING CLUBS, BOOK CLUBS, BIBLE STUDY GROUPS, CAREGIVER SUPPORT GROUPS, ECONOMIC DEVELOPMENT AUTHORITIES, AND SIMILAR RESOURCES AND COMMUNITY-BUILDING ORGANIZATIONS. THE CENTER MAY ALSO PROVIDE SUPPORTIVE RESOURCES SUCH AS FREE ACCESS TO TECHNOLOGY, THE USE OF EQUIPMENT AND SUPPLIES, AND OTHER SUPPORTS TO THESE NONPROFIT AND COMMUNITY ORGANIZATIONS. THE CENTER WILL ALSO HOST COMMUNITY EDUCATION EVENTS AND SEMINARS FOR THE PUBLIC TO HELP PROMOTE THE UNDERSTANDING OF ISSUES IMPORTANT TO SOCIETY. FOR EXAMPLE, THE CENTER MAY OFFER EDUCATIONAL PROGRAMS TO THE PUBLIC FOCUSED ON STRATEGIES AND RESOURCES TO IMPROVE THE MENTAL AND PHYSICAL HEALTH OF INDIVIDUALS AND FAMILIES, COURSES ON DIGITAL LITERACY FOR SENIORS, EDUCATIONAL SEMINARS FOR ENTREPRENEURS, OR SIMILAR PROGRAMS. SUCH EDUCATIONAL ACTIVITIES MAY TAKE THE FORM OF CLASSES, CONFERENCES, SEMINARS, OR PUBLICATIONS SUCH AS BROCHURES AND ONLINE WEB CONTENT. THESE EDUCATIONAL ACTIVITIES WILL BE FREE OF CHARGE OR AT A REDUCED COST INTENDED ONLY TO COVER THE CENTERS EXPENSES. THE CENTER MAY PROVIDE SUPPLEMENTAL RESOURCES SUCH AS FREE CO-WORKING SPACE AND COMMON USE COMPUTERS, PRINTERS, AND OTHER EQUIPMENT. THESE ACTIVITIES ARE INTENDED TO PROMOTE THE UNDERSTANDING, RECOGNITION, AND AWARENESS OF ISSUES USEFUL TO INDIVIDUALS AND FAMILIES AND RELEVANT TO THE GREATER COMMUNITY. IN ADDITION, THE CENTER WILL PROVIDE ART- AND MUSIC-FOCUSED SPACE AND EXPERIENCES TO THE PUBLIC. THESE INCLUDE SPACE FOR LOCAL ARTISTS TO DISPLAY THEIR ARTWORK ON A ROTATING BASIS, HIGHLIGHTING VARIOUS ARTISTS AND ARTISTIC TALENT IN THE LOCAL COMMUNITY, AND HOSTING MUSICAL PERFORMANCES, CONCERT SERIES, AND OTHER PERFORMANCE ART. THE CENTER WILL ALSO PROVIDE FREE GATHERING SPACE FOR ARTS EDUCATION CLASSES WITH THE GOAL OF INCREASING PUBLIC ACCESS TO ARTS EDUCATION AND ENRICHMENT. FINALLY, THE CENTER INTENDS TO OFFER WELLNESS PROGRAMS TO THE PUBLIC AS A COMPLEMENT TO ITS COMMUNITY EDUCATION PROGRAM AND OTHER ACTIVITIES. THESE MAY INCLUDE, FOR EXAMPLE, PARTNERING WITH A LOCAL ORGANIZATION TO PROVIDE CLASSES ON RESEARCH-SUPPORTED MIND AND BODY INTERVENTIONS, SUCH AS YOGA AND MEDITATION, TO SUPPORT OVERALL HEALTH AND WELLBEING. THESE CLASSES WILL BE PROVIDED TO THE PUBLIC FREE OF CHARGE OR AT A REDUCED COST. THE CENTER MAY PARTNER WITH SCHOOLS, NONPROFIT ORGANIZATIONS, OR COMMUNITY ORGANIZATIONS TO INCREASE THE ACCESS OF ITS EDUCATIONAL AND WELLNESS PROGRAMS TO THE COMMUNITY. REVENUE GENERATED BY THE CENTER WILL BE REINVESTED IN IMPROVING ITS FACILITIES AND EDUCATION. IF THE CENTERS REVENUE EXCEEDS THE NEEDS FOR THE CENTERS OWN PURPOSES, WHICH IS UNLIKELY, THE CENTER MAY CONSIDER MAKING A GRANT TO ANOTHER ORGANIZATION DESCRIBED IN CODE SECTION 501(C)(3) TO BE USED FOR CHARITABLE PURPOSES.

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Trantor Score

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

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $215,548
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $215,548

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $0
TOTAL EXPENSES $0

Year-over-Year Comparison

2024 2023 Change
Revenue $215,548 $25,000 +7.6%
Expenses N/A N/A N/A
Net Income N/A $25,000 N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
10
Independent Members
9
Employees
N/A
Volunteers
15

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
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BRIDGET BLY VICE CHAIR 2.00
Officer Director
$0 $0 $0
ANTHONY BORMANN MEMBER 2.00
Director
$0 $0 $0
DALE HANDEEN MEMBER 2.00
Director
$0 $0 $0
CYNTHIA HUSE MEMBER 2.00
Director
$0 $0 $0
DAVID JERPSETH MEMBER 2.00
Director
$0 $0 $0
DEB MEYER MEMBER 2.00
Director
$0 $0 $0
CONNOR PEOPLES SECRETARY 2.00
Officer Director
$0 $0 $0
DOUG PETERSON CHAIRMAN 2.00
Officer Director
$0 $0 $0
KRISTINE SHELSTAD EXECUTIVE DI 2.00
Officer Director
$0 $0 $0
KARIE SORKNES TREASURER 2.00
Officer 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 $215,548 No data $163,958 No data
2023 $25,000 No data $25,000 No data
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