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ARTSPACE PROJECTS INC

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Public IRS 990 nonprofit record

ARTSPACE PROJECTS INC

EIN 41-1350071 · Arts, Culture & Humanities (A900)

What they do

Artspaces Mission is to Create, Foster, and Preserve Affordable and Sustainable Housing and Work Space for Artists, Entrepreneurs, and The Creative Workforce.

Before you give

Should I give to this charity?

Easy charity check
Look at where the money went

Of every $100 spent, about $53.40 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders43 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

69.03%of revenue went to mission work53.4% of expenses · Program services
1.82%of revenue went to fundraising1.4% of expenses
$129.18spent for every $100 of revenueSpending was higher than revenue this year.
58.33%of revenue went to management and office costs45.2% of expenses
$2.22in assets for every $1 spent this yearSome assets cannot be spent right away.
46.6%of its money came from giftsOther money may come from services or investments.

Ask these three easy questions

  1. Who did you help? Ask for a recent story or report that shows real results.
  2. What will my money do? Ask exactly what your gift will pay for.
  3. Is this really the charity? Give only through its official website or confirmed phone number.

Worth asking: Expenses exceeded revenue by $9,539,889 this year. Ask whether that was planned or caused by a one-time event.

Pay context: The highest compensation shown in this filing is $295,535 for L KELLEY LINDQUIST (PRESIDENT). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$32,698,123
Mission workProgram services$22,570,76969.03% of revenue53.4% of expenses
ManagementOffice and general costs$19,072,24058.33% of revenue45.2% of expenses
FundraisingAsking for donations$595,0031.82% of revenue1.4% of expenses
Total expenses$42,238,012129.18% of revenue

Expenses were greater than revenue, so the colored ring fills the available $100 and the total above 100% is shown below.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails
2024CurrentExpense mix: 53.4% mission · 45.2% management · 1.4% fundraisingTotal expenses: 129.18% of revenue
2023Expense mix: 91.4% mission · 6.7% management · 1.8% fundraisingTotal expenses: 104.26% of revenue
2022Expense mix: 92.4% mission · 5.7% management · 1.9% fundraisingTotal expenses: 99.92% of revenue
2021Expense mix: 92.3% mission · 6.2% management · 1.6% fundraisingTotal expenses: 94.38% of revenue
2020Expense mix: 92.7% mission · 5.4% management · 1.9% fundraisingTotal expenses: 102.38% of revenue
2019Expense mix: 94.8% mission · 2.9% management · 2.3% fundraisingTotal expenses: 104.13% of revenue
2018Expense mix: 95.8% mission · 2.1% management · 2.1% fundraisingTotal expenses: 104.15% of revenue
2017Expense mix: 92.4% mission · 3.6% management · 4.0% fundraisingTotal expenses: 84.11% of revenue

Money in and money out

Revenue$32,698,123
Expenses$42,238,012
Annual shortfall $9,539,889 Expenses were higher than revenue for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$22,570,769 · 53.4% of expenses
Management and office costs$19,072,240 · 45.2% of expenses
Fundraising$595,003 · 1.4% of expenses
See all reported dollar amounts
Revenue$32,698,123
Expenses$42,238,012
Assets$93,960,270
Income$32,698,123
Contributions$15,249,115
Mission work (program services)$22,570,769
Fundraising$595,003
Grants given$5,542,417
Average grant$461,868
Management and general$19,072,240
Executive compensation (total)$1,103,017
Accounting fees$260,168
People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation
L KELLEY LINDQUISTPRESIDENT · 40 hrs/week $295,535Base $271,989 · Other $23,546
WILLIAM LAWCHIEF OPERATING OFFICER · 40 hrs/week $226,348Base $201,793 · Other $24,555
GREG HANDBERG UNTIL DECSR. VP - PROPERTIES · 50 hrs/week $214,051Base $192,988 · Other $21,063
BETH CHALMERSCHIEF FINANCIAL OFFICER · 50 hrs/week $184,843Base $163,460 · Other $21,383
KATHLEEN KVERNSR. VP - NATIONAL ADVANCEMENT · 40 hrs/week $180,306Base $156,404 · Other $23,902
WENDY HOLMESSR. VP - CONSULTING · 50 hrs/week $167,696Base $150,212 · Other $17,484
STACEY MICKELSONVP - GOVERNMENTAL RELATION · 40 hrs/week $163,267Base $149,530 · Other $13,737
NAOMI CHUVP - ASSET MANAGEMENT · 40 hrs/week $136,864Base $118,586 · Other $18,278
ANDREW MICHAELSONVP - PROPERTIES · 40 hrs/week $110,653Base $108,160 · Other $2,493

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (43)

L KELLEY LINDQUISTPRESIDENT

WILLIAM LAWCHIEF OPERATING OFFICER

GREG HANDBERG UNTIL DECSR. VP - PROPERTIES

BETH CHALMERSCHIEF FINANCIAL OFFICER

KATHLEEN KVERNSR. VP - NATIONAL ADVANCEMENT

WENDY HOLMESSR. VP - CONSULTING

STACEY MICKELSONVP - GOVERNMENTAL RELATION

NAOMI CHUVP - ASSET MANAGEMENT

ANDREW MICHAELSONVP - PROPERTIES

MARK W ADDICKSBOARD MEMBER

BARBARA PORTWOODTREASURER

MARY MARGARET MACMILLANIMMEDIATE PAST CHAIR

MATTHEW E DAMONVICE CHAIR

OSH ASHRUFBOARD MEMBER

PEGGY LUCASBOARD MEMBER

PETER BEARDBOARD MEMBER

PETER A LEFFERTSBOARD MEMBER

RANDALL BOURSHEIDTBOARD MEMBER

AMIT PODDARBOARD MEMBER

RICHARD MARTIN ESQBOARD MEMBER

ROY GABAYBOARD MEMBER

SARAH OQUISTBOARD MEMBER

SUSAN KENNY STEVENS PHDBOARD MEMBER

SUZANNE KOPPLINGERBOARD MEMBER

TERRY BENELLIBOARD MEMBER

GLORIA SEWELLBOARD MEMBER

BETTY MASSEYCHAIR

CHANDLER WILSONBOARD MEMBER

CHRISTOPHER SCOTTBOARD MEMBER

DAN C MEHLSBOARD MEMBER

DEVON AKMONBOARD MEMBER

DIANE DALTOBOARD MEMBER

ELIZABETH REDLEAFBOARD MEMBER

GARY CUNNINGHAMSECRETARY

MARK MANBECKBOARD MEMBER

IAN FRIENDLYBOARD MEMBER

IRENE QUARSHIEBOARD MEMBER

JASON STAMMBOARD MEMBER

JOE GIBBONSBOARD MEMBER

JOEL RONNINGBOARD MEMBER

KEN PETERSONBOARD MEMBER

LOUIS LOU DEMARSBOARD MEMBER

MARIE FEELYBOARD MEMBER

About this charity

Recognized since
January 1984
Location
250 3RD N AVE STE 400, MINNEAPOLIS, MN 55401-0000
County
Hennepin
In care of
Beth Chalmers
Primary officer
Beth Chalmers, CFO

How to reach them

WebsiteVisit the charity’s website Emailcommercial.leasing@artspace.org Phone(612) 333-9012

Filing and classification

Latest tax year
2024
Tax period began
January 1, 2024
Return type
990
Tax preparer
EIDE BAILLY LLP
NTEE classification
Arts, Culture & Humanities (A900)
IRS tax category
Other Grantmaking and Giving Services
Grant-giving organization
Yes

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About this report: Information comes from public nonprofit records and may show the latest filing available.

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