2025-08-28T10:53:04-05:00 2024-12-31 450250958 Eide Bailly LLP 800 Nicollet Mall Ste 1300 Minneapolis MN 554027033 990 2024-01-01 271173436 The Cowles Center COWL 6122063636 528 Hennepin Ave 700 Minneapolis MN 55403 William Law Treasurer 6122063636 2025-08-20 1 1 Deb Nelson CPA P01264758 6122536500 2025-08-20 2024 2025-03-06 01:10:19Z The Cowles Center for Dance L Kelley Lindquist 528 Hennepin Ave 700 Minneapolis MN 55403 758556 0 X www.thecowlescenter.org X 2009 MN To provide a home for the local dance company and work as an advocate for these artists. X 4 0 39 19 0 0 2650389 496249 692847 250968 24 24 93696 11315 3436956 758556 154000 208000 0 0 1106852 346284 0 0 6016 2242389 731781 3503241 1286065 -66285 -527509 17694098 500112 411540 78652 17282558 421460 X To provide a home for the local dance company and work as an advocate for these artists by providing a professional environment with opportunities for them to refine and perform their work. 0 1 315319 0 141325 Performance Program - In 2024 we served three companies before closing the Goodale Theater. We also honored box office projections for the three companies we couldn't host on the stage. 177665 0 32929 Education Program - In 2024, K-12 residency programs (Dance without Barriers, Creations, and First Moves) reached 1,941 students through 328 sessions. We ended education programming in May 2024, honoring all school commitments for the 23-24 school year and fulfilling all grant requirements. 112873 0 76714 Facilities Program: The facilities program at The Cowles Center supports the performing arts community by providing performance, rehearsal/studio, and administrative office space at 40% below market value for 20 area nonprofit dance and performing arts organizations, including two of Minnesota's leading dance schools, and a network of independent artists and choreographers. 566428 208000 0 McKnight Fellowship Program: The Cowles Center is home to the prestigious McKnight Fellowships for Dance and Choreography, which annually awards three mid-career dancers and three mid-career choreographers to deepen their craft and develop new projects. 566428 208000 0 1172285 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 68 0 1 39 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 0 1 0 0 0 0 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 MN X Nu Lee 6512637273 528 Hennepin Ave Suite 700 Minneapolis MN 55403 L Kelley Lindquist President 10.00 40.00 X X 0 271989 23546 Will Law Treasurer 10.00 40.00 X X 0 201793 24555 Kathleen Kvern Secretary 10.00 40.00 X X 0 156404 23902 Stacey Mickelson Vice President 10.00 40.00 X X 0 149530 13737 Beth Chalmers Chief Financial Officer 2.00 50.00 X 0 163460 21383 0 943176 107123 0 0 1 0 0 278939 35000 182310 496249 Ticket Sales And Fees 711120 141325 141325 Rental Income 531120 76714 76714 Educational Services 711120 32929 32929 250968 24 24 11315 0 11315 11315 11315 758556 250968 0 11339 X 208000 208000 276113 274902 92 1119 18757 18675 6 76 51414 51189 17 208 39976 39976 39500 39500 191432 191432 15483 14209 1274 14652 12024 2587 41 41917 17984 20116 3817 41123 41068 4 51 77238 77238 464 464 146937 146293 49 595 26944 26826 9 109 Box Office Split 71485 71485 Credit Card Merchant Fe 6829 6709 120 Dues, Subcriptions, Lic 2656 2630 26 15145 11621 3524 1286065 1172285 107764 6016 695956 488196 500840 6750 16776 5166 0 16480526 17694098 500112 305242 68402 17530 88768 10250 411540 78652 X 16203651 1361 1078907 420099 17282558 421460 17694098 500112 X -527509 -16333589 X 0 1 X 1 0 X 828211 3021033 3039029 2650389 496249 10034911 828211 3021033 3039029 2650389 496249 10034911 1278089 8756822 142730 147240 110320 99014 11339 510643 10545554 2668509 0.83040 0.73350 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Payable to Related Parties 10250 10250 X Part X, Line 2: Cowles believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. Cowles would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. 1 McKnight Dancer & Choreographer Fellowships 12 208000 Part I, Line 2: The Cowles Center maintains artist contracts and copies of the application requirements for the fellowship programs. 0 0 0 0 0 0 0 0 0 L Kelley Lindquist President 0 255598 0 16391 0 0 0 5862 0 18141 0 295992 0 0 Will Law Treasurer 0 201793 0 0 0 0 0 4731 0 20385 0 226909 0 0 Beth Chalmers Chief Financial Officer 0 163460 0 0 0 0 0 2585 0 19592 0 185637 0 0 Kathleen Kvern Secretary 0 156404 0 0 0 0 0 3692 0 20718 0 180814 0 0 Stacey Mickelson Vice President 0 108770 0 0 0 40760 0 1165 0 12573 0 163268 0 0 Part I, Line 3 The organization relies upon Artspace Projects, Inc., a related organization, to establish compensation for the organization's officers. Artspace Projects, Inc. uses one or more of these methods as part of the compensation process. Building & Equipment 2024-03-29 16333589 Book Value 416005375 City of Minneapolis - CPED 505 4th Ave S Suite 320 Minneapolis MN 55415 Government Entity 0 0 0 0 Part II, Line 1 The Cowles Center had a lease/use agreement with the City of Minneapolis. Under this lease/use agreement there was no lease payment due. The Center paid direct costs such as real estate taxes, insurance, maintenance, etc. Under terms of the lease and applicable Minnesota law, at least half of the earned revenue generated from the facility must be from the production or presentation of dance, music or other performance and operation of educational programs. As of March 29, 2024 the lease/use agreement between the Center and the City of Minneapolis was terminated and the property was turned over to the City of Minneapolis. This resulted in a loss of $16,333,589 which is presented as a net asset adjustment on Form 990 Part XI Line 9. Form 990, Part III, line 3 The Performance and Facilities programs ceased operations at the end of March 2024. The operations of the Shubert Theater ended, and The Cowles Center exited the lease agreement with the City. The Education program ceased operations at the end of May 2024, marking the end of the season. Form 990, Part VI, Section A, line 2 The President, Vice President, Treasurer, Secretary and Chief Financial Officer of The Cowles Center are employed by Artspace Projects, Inc., a related tax-exempt organization. These individuals are also board officers and members or officers of Artspace Projects, Inc. Therefore, business relationships exist between these individuals. Form 990, Part VI, Section A, line 7a Artspace Projects, Inc., a related organization, appoints the board of directors. Form 990, Part VI, Section A, line 8b The organization has no other committees with authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed annually by the internal accountant and the Board Members before the return is filed. Form 990, Part VI, Section B, line 12c Board members are required to sign off on the Conflict of Interest policy annually to show that they understand the policy. The conflict of interest statement is collected from all board members annually. An interested person may present the facts of the proposed transaction or arrangement, but may not discuss or vote on approval. The President or the respective Committee determines, if appropriate, if a disinterested person or committee needs to be appointed to investigate alternatives to the proposed transaction or arrangement. Form 990, Part VI, Section B, line 15a Compensation for Officers of the organization is established by Artspace Projects, Inc., a related organization. Comparability data, performance reviews, and written documentation of the process is kept in the personnel files. Form 990, Part VI, Section C, line 19 The Organization's Articles of Incorporation, Bylaws, Conflict of Interest Policy and Financial Statements are available upon request. Form 990, Part IX, line 11g Other Professional Fees: Program service expenses 191,432. Management and general expenses 0. Fundraising expenses 0. Total expenses 191,432. Form 990, Part XI, line 9: Transfer of assets to City of Minneapolis -16,333,589. Artspace Projects Inc 250 3rd Avenue North Suite 400 Minneapolis MN 55401 411350071 Property management & development. MN 501(c)(3) Line 7 N/A 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0