Nonprofit · EIN 41-1350071
ARTSPACE PROJECTS INC
Tax-exempt · MINNEAPOLIS, MN 55401
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $32,698,123 | $42,238,012 | -$9,539,889 | $93,960,270 | $68,119,710 | $25,840,560 |
| December 31, 2023 | 990 | $29,143,430 | $30,384,969 | -$1,241,539 | $98,678,653 | $63,302,701 | $35,375,952 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $15,249,115
- of which government grants
- $3,547,642
- Program service revenue
- $14,213,213
- Investment income
- $3,110,795
- Net gain from sales of assets
- $2,166,846
- Other revenue
- $125,000
Expenses
- Grants and similar amounts paid
- $803,939
- Compensation of officers, directors and key employees
- $1,271,514
- Other salaries and wages
- $4,164,257
- Salaries, compensation and benefits (total)
- $6,526,328
- Professional fundraising fees
- $0
- Legal fees
- $143,369
- Accounting fees
- $260,168
- Occupancy
- $2,233,856
- Travel
- $265,490
- Depreciation
- $2,250,896
- Program services (functional)
- $22,570,769
- Management and general (functional)
- $19,072,240
- Fundraising (functional)
- $595,003
Balance sheet and other
- Total assets, start of year
- $98,678,653
- Total assets, end of year
- $93,960,270
- Total liabilities, end of year
- $68,119,710
- Net assets, end of year
- $25,840,560
- Land, buildings and equipment
- $46,010,716
- Net assets without donor restrictions
- $22,288,228
- Net assets with donor restrictions
- $3,552,332
- Gross unrelated business income
- $29,507
- Gross receipts
- $32,698,123
- Employees
- 44
- Volunteers
- 40
- Year formed
- 1978
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| L Kelley Lindquist | President Officer | 40 | $271,989 | $23,546 |
| William Law | Chief Operating Officer Officer | 40 | $201,793 | $24,555 |
| Greg Handberg until Dec | Sr. VP - Properties Key employee | 50 | $192,988 | $21,063 |
| Beth Chalmers | Chief Financial Officer Officer | 50 | $163,460 | $21,383 |
| Kathleen Kvern | Sr. VP - National Advancement Key employee | 40 | $156,404 | $23,902 |
| Wendy Holmes | Sr. VP - Consulting Key employee | 50 | $150,212 | $17,484 |
| Stacey Mickelson | VP - Governmental Relation Highest-paid employee | 40 | $149,530 | $13,737 |
| Naomi Chu | VP - Asset Management Highest-paid employee | 40 | $118,586 | $18,278 |
| Andrew Michaelson | VP - Properties Highest-paid employee | 40 | $108,160 | $2,493 |
| Betty Massey | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Matthew E Damon | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Mary Margaret MacMillan | Immediate Past Chair Trustee or director, Officer | 1 | $0 | $0 |
| Gary Cunningham | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Barbara Portwood | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Mark W Addicks | Board Member Trustee or director | 1 | $0 | $0 |
28 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Devon Akmon | Board Member Trustee or director | 1 | $0 |
| Osh Ashruf | Board Member Trustee or director | 1 | $0 |
| Peter Beard | Board Member Trustee or director | 1 | $0 |
| Terry Benelli | Board Member Trustee or director | 1 | $0 |
| Randall Boursheidt | Board Member Trustee or director | 1 | $0 |
| Diane Dalto | Board Member Trustee or director | 1 | $0 |
| Louis Lou DeMars | Board Member Trustee or director | 1 | $0 |
| Marie Feely | Board Member Trustee or director | 1 | $0 |
| Ian Friendly | Board Member Trustee or director | 1 | $0 |
| Roy Gabay | Board Member Trustee or director | 1 | $0 |
| Joe Gibbons | Board Member Trustee or director | 1 | $0 |
| Susan Kenny Stevens PhD | Board Member Trustee or director | 1 | $0 |
| Suzanne Kopplinger | Board Member Trustee or director | 1 | $0 |
| Peter A Lefferts | Board Member Trustee or director | 1 | $0 |
| Peggy Lucas | Board Member Trustee or director | 1 | $0 |
| Mark Manbeck | Board Member Trustee or director | 1 | $0 |
| Richard Martin Esq | Board Member Trustee or director | 1 | $0 |
| Dan C Mehls | Board Member Trustee or director | 1 | $0 |
| Sarah Oquist | Board Member Trustee or director | 1 | $0 |
| Ken Peterson | Board Member Trustee or director | 1 | $0 |
| Amit Poddar | Board Member Trustee or director | 1 | $0 |
| Elizabeth Redleaf | Board Member Trustee or director | 1 | $0 |
| Joel Ronning | Board Member Trustee or director | 1 | $0 |
| Christopher Scott | Board Member Trustee or director | 1 | $0 |
| Gloria Sewell | Board Member Trustee or director | 1 | $0 |
| Jason Stamm | Board Member Trustee or director | 1 | $0 |
| Chandler Wilson | Board Member Trustee or director | 1 | $0 |
| Irene Quarshie | Board Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 54 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| L Kelley Lindquist | President Officer | 40 | $239,316 | $29,160 |
| William Law | Chief Operating Officer Officer | 40 | $201,610 | $30,427 |
| Wendy Holmes | Sr. VP - Consulting Key employee | 50 | $189,398 | $29,973 |
| Greg Handberg | Sr. VP - Properties Key employee | 50 | $192,998 | $23,371 |
| Kathleen Kvern | Sr. VP - National Advancement Key employee | 40 | $156,395 | $28,187 |
| Stacey Mickelson | VP - Governmental Relations Highest-paid employee | 40 | $150,148 | $19,467 |
| Naomi Chu | VP - Asset Management Highest-paid employee | 40 | $118,310 | $21,325 |
| Teri Deaver - Jan - Nov | VP - Consulting Highest-paid employee | 50 | $107,562 | $17,527 |
| Steven Stanley - To Sep | Chief Financial Officer Officer | 50 | $103,377 | $15,604 |
| Kimberly Moore - Jan - Nov | Dir - Asset Management Highest-paid employee | 40 | $100,579 | $15,932 |
| Andrew Michaelson | VP - Properties Highest-paid employee | 40 | $108,160 | $5,408 |
| Beth Chalmers - From Sep | Chief Financial Officer Officer | 50 | $52,642 | $4,768 |
| Betty Massey | Chair Trustee or director, Officer | 1 | $0 | $0 |
| Irene Quarshie | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| Mary Margaret MacMillan | Immediate Past Chair Trustee or director, Officer | 1 | $0 | $0 |
| Herman J Milliga Jr Jan - Oct | Immediate Past Chair Trustee or director, Officer | 1 | $0 | $0 |
| Gary Cunningham | Secretary Trustee or director, Officer | 1 | $0 | $0 |
| Barbara Portwood | Treasurer Trustee or director, Officer | 1 | $0 | $0 |
| Mark W Addicks | Board Member Trustee or director | 1 | $0 | $0 |
| Devon Akmon | Board Member Trustee or director | 1 | $0 | $0 |
| Osh Ashruf | Board Member Trustee or director | 1 | $0 | $0 |
| Peter Beard | Board Member Trustee or director | 1 | $0 | $0 |
| Terry Benelli | Board Member Trustee or director | 1 | $0 | $0 |
| Randall Boursheidt | Board Member Trustee or director | 1 | $0 | $0 |
| Diane Dalto | Board Member Trustee or director | 1 | $0 | $0 |
| Matthew E Damon | Board Member Trustee or director | 1 | $0 | $0 |
| Louis Lou DeMars | Board Member Trustee or director | 1 | $0 | $0 |
| Marie Feely | Board Member Trustee or director | 1 | $0 | $0 |
| Ian Friendly | Board Member Trustee or director | 1 | $0 | $0 |
| Roy Gabay | Board Member Trustee or director | 1 | $0 | $0 |
| Joe Gibbons | Board Member Trustee or director | 1 | $0 | $0 |
| Burton Kassell | Board Member Trustee or director | 1 | $0 | $0 |
| Susan Kenny Stevens PhD | Board Member Trustee or director | 1 | $0 | $0 |
| Suzanne Kopplinger | Board Member Trustee or director | 1 | $0 | $0 |
| Peter A Lefferts | Board Member Trustee or director | 1 | $0 | $0 |
| Peggy Lucas | Board Member Trustee or director | 1 | $0 | $0 |
| Mary Margaret McMillan | Board Member Trustee or director | 1 | $0 | $0 |
| Mark Manbeck | Board Member Trustee or director | 1 | $0 | $0 |
| Richard Martin Esq | Board Member Trustee or director | 1 | $0 | $0 |
| Dan C Mehls | Board Member Trustee or director | 1 | $0 | $0 |
| Sarah Oquist | Board Member Trustee or director | 1 | $0 | $0 |
| Ken Peterson | Board Member Trustee or director | 1 | $0 | $0 |
| Elizabeth Redleaf | Board Member Trustee or director | 1 | $0 | $0 |
| Joel Ronning | Board Member Trustee or director | 1 | $0 | $0 |
| Christopher Scott | Board Member Trustee or director | 1 | $0 | $0 |
| Gloria Sewell | Board Member Trustee or director | 1 | $0 | $0 |
| Jason Stamm | Board Member Trustee or director | 1 | $0 | $0 |
| Chandler Wilson | Board Member Trustee or director | 1 | $0 | $0 |
| Cree Zischke | Board Member Trustee or director | 1 | $0 | $0 |
| Janis Lane-Ewart - Jan - Oct | Board Member Trustee or director | 1 | $0 | $0 |
| Ceil Cirillo - Jan - Oct | Board Member Trustee or director | 1 | $0 | $0 |
| Annamarie Saarinen - Jan - Oct | Board Member Trustee or director | 1 | $0 | $0 |
| Curtis Thornhill - Jan - Apr | Board Member Trustee or director | 1 | $0 | $0 |
| Neal Richardson - Jan - Oct | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 250 3RD N AVE STE 400, MINNEAPOLIS, MN 55401-0000
- Principal officer (990 for 2024)
- L Kelley Lindquist, 528 Hennepin Ave 700, Minneapolis, MN 55403
- Signed the 990
- Beth Chalmers, CFO
- Phone
- (612) 333-9012
- Website
- www.artspace.org
- Return prepared by
- Eide Bailly LLP
Mission
Artspace's Mission is to Create, Foster, and Preserve Affordable and Sustainable Housing and Work Space for Artists, Entrepreneurs, and the Creative Workforce.
Program accomplishments
- Real Estate Projects - Provides properties that are sensitive to the unique needs and environment necessary for artists, arts organizations, workforce housing and arts venues, through wholly, or partially owned limited partnerships which own commercial and/or residential properties. These real estate projects provide space for artists to work on their particular means of artistic expression. As an example, a painter or dancer needs space to produce a huge painting, or to practice their dance steps.Expenses $13,950,730 · revenue $8,359,740
- Development - Develops workforce housing, artist live/workspaces and cultural facilities with both public agencies and private groups by involvement in real estate projects as project coordinator, developer, co-developer, and general contractor; informs and educates the general public and key decision makers about projects and issues related to workforce housing, space, artists and art facilities.Expenses $1,547,325 · revenue $4,112,438
- Consulting - Artspace Consulting helps organizations and local governments design spaces for community services. We combine real estate expertise with insights into the creative sector to offer support, feasibility studies, and coaching. Our focus is on creating sustainable, affordable, and equitable spaces, and we've assisted over 300 communities and arts organizations in advancing projects that benefit creative communities.Expenses $729,857 · revenue $361,486
- Asset & Performance Property Management - Asset Management oversees the Organization's limited partnership holdings to establish and maintain long-term financially and physically stable assets. It works closely with partners, funders, and management companies to ensure stability. Performance Property Management provides services for various projects and is responsible for overseeing daily operations, including financial management, physical conditions, tenant communications, and reporting on project statuses, particularly regarding issues that require owner input and decisions.Expenses $6,342,857 · grants $803,939 · revenue $1,350,042
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1350071
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1984
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A900)
- Assets (IRS master file)
- $93,960,270
- Income (IRS master file)
- $32,698,123
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $32,698,123 | $42,238,012 | $93,960,270 | XML |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $29,143,430 | $30,384,969 | $98,678,653 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $31,237,243 | $31,211,929 | $88,532,198 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1350071).
Questions about ARTSPACE PROJECTS INC
- What is the EIN of ARTSPACE PROJECTS INC?
- The employer identification number (EIN) of ARTSPACE PROJECTS INC is 41-1350071.
- Is ARTSPACE PROJECTS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1984.
- Are donations to ARTSPACE PROJECTS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ARTSPACE PROJECTS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ARTSPACE PROJECTS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ARTSPACE PROJECTS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of ARTSPACE PROJECTS INC?
- The 990 for the year ended December 31, 2024 names L Kelley Lindquist.
- Who are the officers and directors of ARTSPACE PROJECTS INC?
- The 990 for the year ended December 31, 2024 lists 43 people; 9 received compensation from the organization, the highest $271,989 (L Kelley Lindquist, President).
- How much revenue does ARTSPACE PROJECTS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $32,698,123, expenses of $42,238,012 and total assets of $93,960,270 at year end.
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