2023-04-14T11:25:55-05:00 2022-06-30 851042754 MONTANA ACCOUNTING GROUP 701 WEST MAIN STREET UNIT A2 BOZEMAN MT 59715 990 2021-07-01 810478307 EMERSON CENTER FOR THE ARTS AND CULTURE EMER 4065879797 111 S GRAND AVENUE BOZEMAN MT 597155037 SUSAN DENSON-GUY EXECUTIVE DIRECTOR 4065879797 2023-04-07 1 SUSAN DENSON-GUY 999009999 KYLE BLESSINGER P01575360 4064510808 2023-04-07 0 AAL1 IAL1 2021 2023-04-26 12:10:37Z SUSAN DENSON-GUY 111 S GRAND AVE BOZEMAN MT 59715 1026079 0 X WWW.THEEMERSON.ORG X 1992 MT THE EMERSON'S MISSION IS TO BUILD COMMUNITY BY PROMOTING ART AND CULTURE, SET IN A HISTORIC BUILDING. TO ACHEIVE THIS, THE EMERSON CENTER FOR THE ARTS & CULTURE: 1) ENGAGES THE PUBLIC BY HOSTING AND CURATING EXHIBITIONS AND PROGRAMS OF REGIONAL AND NATIONAL RECOGNITION;2) PROMOTES ARTS EDUCATION THROUGH ITS ONGOING CLASSES AND OUTREACH TO PUBLIC SCHOOLS AND THE COMMUNITY;3) CELEBRATES BOZEMAN'S HISTORY THROUGH EFFECTIVE STEWARDSHIP OF ITS HISTORICAL FACILITY; 4) OFFERS THE COMMUNITY A VARIETY OF SPACES FOR STUDIOS, MEETINGS, PERFORMANCES, RECEPTIONS, CLASSES AND OTHER ACTIVITIES;5) LEADS THE WAY IN REGIONAL PUBLIC ART VIA CITY-WIDE PROJECTS WITH LASTING IMPACT; AND 6) WORKS IN COLLABORATION WITH ITS TENTANTS AND OTHER ARTS, CULTURAL AND CIVIC ORGANIZATIONS TO STIMULATE ECONOMIC ACTIVITY IN BOZEMAN AND TO FURTHER ITS REPUTATION AS A REGIONAL DESTINATION. 5 5 10 20 0 0 478203 235660 129381 140996 4828 5061 423453 643015 1035865 1024732 0 0 0 0 390635 399826 0 0 19014 434797 511768 825432 911594 210433 113138 4477181 4558491 1111599 1079771 3365582 3478720 X THE EMERSON'S MISSION IS TO BUILD COMMUNITY BY PROMOTING ART AND CULTURE, SET IN A HISTORIC BUILDING. TO ACHEIVE THIS, THE EMERSON CENTER FOR THE ARTS & CULTURE: 1) ENGAGES THE PUBLIC BY HOSTING AND CURATING EXHIBITIONS AND PROGRAMS OF REGIONAL AND NATIONAL RECOGNITION;2) PROMOTES ARTS EDUCATION THROUGH ITS ONGOING CLASSES AND OUTREACH TO PUBLIC SCHOOLS AND THE COMMUNITY;3) CELEBRATES BOZEMAN'S HISTORY THROUGH EFFECTIVE STEWARDSHIP OF ITS HISTORICAL FACILITY; 4) OFFERS THE COMMUNITY A VARIETY OF SPACES FOR STUDIOS, MEETINGS, PERFORMANCES, RECEPTIONS, CLASSES AND OTHER ACTIVITIES;5) LEADS THE WAY IN REGIONAL PUBLIC ART VIA CITY-WIDE PROJECTS WITH LASTING IMPACT; AND 6) WORKS IN COLLABORATION WITH ITS TENTANTS AND OTHER ARTS, CULTURAL AND CIVIC ORGANIZATIONS TO STIMULATE ECONOMIC ACTIVITY IN BOZEMAN AND TO FURTHER ITS REPUTATION AS A REGIONAL DESTINATION. 0 0 644149 643056 TENANT AND PUBLIC SPACE RENTAL: ARTS-RELATED BUSINESSES/NONPROFIT ORGANIZATIONS - APPROXIMATELY 58 TENANTS. SPACES AVAILABLE FOR PUBLIC RENTAL - 3 (CRAWFORD THEATER, WEAVER ROOM, BALLROOM). 70003 85815 ART EDUCATION THROUGH CLASSES AND WORKSHOPS TAUGHT BY WORKING ARTISTS-TEACHERS, INCLUDING ARTISTS EXHIBITING WORK IN THE EMERSON'S CONTEMPORARY ART GALLERIES. CLASSES AND WORKSHOPS ARE EXHIBIT-INSPIRED, COMMUNITY-BASED, AND INTERDISCIPLINARY EXPLORATIONS OF PAINTING, DRAWING, SCULPTURE, MIXED MEDIA, PRINTMAKING, CERAMICS, AND NEW GENRE. 82439 56487 ARTS THROUGH EDUCATIONAL OUTREACH ASSOCIATED WITH ITS EXHIBITS. THE EMERSON CURATES AND HOSTS ART EXHIBITIONS OF SIGNIFICANT COMMUNITY VALUE. EMERGING AND ESTABLISHED CONTEMPORARY ARTISTS OF REGIONAL AND NATIONAL RECOGNITION EXHIBIT THEIR WORK REPRESENTING BOTH TRADITIONAL AND INNOVATIVE TECHNIQUES, MEDIA AND CONTENT WITH THE INTENT OF APPEALING TO DIVERSE AUDIENCES. 796591 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 10 1 1 1 0 0 0 0 0 0 0 0 0 X 5 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X EMERSON CENTER FOR ARTS AND CULTURE 4065879797 111 S GRAND AVENUE BOZEMAN MT 59715 SUZY REA SECRETARY 2.00 X X 0 0 0 JASON BAIDE PRESIDENT 2.00 X X 0 0 0 LUMAY WANG MURPHY VICE PRESIDENT 2.00 X X 0 0 0 MARK MELIEF TREASURER 2.00 X X 0 0 0 LUCAS SWART DIRECTOR 2.00 X 0 0 0 SUSAN DENSON-GUY EXECUTIVE DIRECTOR 40.00 X 98738 0 0 98738 0 0 0 0 0 0 0 1120 15684 118682 100174 235660 PROGRAM 711300 140996 140996 140996 5061 5061 643056 0 643056 643056 643056 0 15684 1347 -1347 -1347 MISCELLANEOUS REVENUE 711300 1306 1306 1306 1024732 785358 0 3714 110000 84700 20900 4400 231471 178232 43979 9260 24782 19082 4709 991 33573 25851 6379 1343 28722 22201 5387 1134 38670 38001 553 116 6109 4129 1820 160 27139 24027 2570 542 6841 5267 1300 274 124086 118004 5721 361 198 198 41272 41272 108936 108936 43765 43162 498 105 REPAIRS & MAINTENANCE 64500 64500 0 0 EXHIBIT EXEPENSES 14684 14589 95 0 BANK SERVICE CHARGES 4305 3315 818 172 MISCELLEANOUS EXPENSES 981 750 192 39 1560 573 870 117 911594 796591 95989 19014 274128 389520 546098 438016 3928 47685 10484 31725 5143718 1514123 3621646 3629595 20897 21950 4477181 4558491 91403 133146 948867 844573 71329 102052 1111599 1079771 X 3175771 3343878 189811 134842 3365582 3478720 4477181 4558491 113138 0 X X 1 X 0 0 0 X 1875288 111129 131967 478203 200303 2796890 588182 625803 563098 129381 140996 2047460 2463470 736932 695065 607584 341299 4844350 0 0 0 4844350 9045 4281 4847 4828 5061 28062 9045 4281 4847 4828 5061 28062 2472515 741213 699912 612412 346360 4872412 0.99420 0.99460 0.00580 0.00540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2382996 2382996 2633968 1408194 1225774 126754 105929 20825 3629595 CREDIT CARD LIABILITY 1321 KEY & RENT DEPOSITS 81631 DEFERRED REVENUE - LOTL 9100 EARNEST MONEY 10000 102052 X PART X, LINE 2: PART X, LINE 2: THE EMERSON IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. AS SUCH, THE EMERSON IS SUBJECT TO FEDERAL INCOME TAXES ONLY ON ANY NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 511 OF THE INTERNAL REVENUE CODE. FOR THE YEARS ENDED JUNE 30, 2021 AND 2020, THE UNRELATED BUSINESS INCOME WAS $250 AND $13,641, RESPECTIVELY. HOWEVER, THE UNRELATED TAX LIABILITY RELATED TO UNRELATED BUSINESS NET INCOME WAS INSIGNIFICANT. THE DETERMINATION OF TAX EXEMPT STATUS IS ALSO CONSIDERED TO BE A TAX POSITION. THE EMERSON'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSISTIONS HAVE SUBSTANTIAL UPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS AND OTHER EVIDENCE. THE EMERSON HAS DETERMINED THAT IT IS SUBJECT TO EXAMINATION FOR THE FEDERAL INCOME TAX FILINGS IN THE UNITED STATES FOR ANY OPEN STATUTORY YEARS. IN THE EVENT THE EMERSON IS ASSESSED PENALTIES AND/OR INTEREST, PENALTIES WILL BE CHARGED TO OTHER OPERATING EXPENSES AND INTEREST WILL BE CHARGED TO INTEREST EXPENSE. THERE WAS NO INTEREST OR PENALTIES RELATED TO INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2021 AND 2020. IT IS THE OPINION OF MANAGEMENT THAT THE EMERSON HAS NO UNCERTAIN TAX POSISTIONS. PART X, LINE 2: THE EMERSON IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. AS SUCH, THE EMERSON IS SUBJECT TO FEDERAL INCOME TAXES ONLY ON ANY NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 511 OF THE INTERNAL REVENUE CODE. FOR THE YEARS ENDED JUNE 30, 2022 AND 2021, THE UNRELATED BUSINESS INCOME WAS $27,378 AND $250, RESPECTIVELY. HOWEVER, THE UNRELATED TAX LIABILITY RELATED TO UNRELATED BUSINESS NET INCOME WAS INSIGNIFICANT. THE DETERMINATION OF TAX EXEMPT STATUS IS ALSO CONSIDERED TO BE A TAX POSITION. THE EMERSON'S POLICY IS TO EVALUATE THE LIKELIHOOD THAT ITS UNCERTAIN TAX POSITIONS WILL PREVAIL UPON EXAMINATION BASED ON THE EXTENT TO WHICH THOSE POSISTIONS HAVE SUBSTANTIAL SUPPORT WITHIN THE INTERNAL REVENUE CODE AND REGULATIONS, REVENUE RULINGS, COURT DECISIONS AND OTHER EVIDENCE. THE EMERSON HAS DETERMINED THAT IT IS SUBJECT TO EXAMINATION FOR THE FEDERAL INCOME TAX FILINGS IN THE UNITED STATES FOR ANY OPEN STATUTORY YEARS. IN THE EVENT THE EMERSON IS ASSESSED PENALTIES AND/OR INTEREST, PENALTIES WILL BE CHARGED TO OTHER OPERATING EXPENSES AND INTEREST WILL BE CHARGED TO INTEREST EXPENSE. THERE WAS NO INTEREST OR PENALTIES RELATED TO INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2022 AND 2021. IT IS THE OPINION OF MANAGEMENT THAT THE EMERSON HAS NO UNCERTAIN TAX POSISTIONS. GIVE BIG GALLATIN VALLEY 15684 15684 1348 15684 15684 1348 1348 -1348 FORM 990, PART VI, SECTION B, LINE 11B THE ANNUAL FORM 990 IS PREPARED BY INDEPENDENT ACCOUNTING FIRM, SUBMITTED TO FINANCE COMMITTEE OF BOARD OF DIRECTORS WHO REVIEWS THE RETURN AND THEN SUBMITS IT TO ENTIRE BOARD OF DIRECTORS FOR APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C IF ANY BOARD MEMBER BECOMES AWARE OF A POTENTIAL CONFLICT OF INTEREST, THEY WILL INFORM OTHER BOARD MEMBERS OF THE POTENTIAL INCIDENT AND IT WILL BE DISCUSSED AT THE NEXT BOARD MEETING ON HOW TO PROCEED, OR A SPECIAL MEETING WILL TAKE PLACE IN ORDER TO ADDRESS THE ISSUE IF IT IS MORE TIME SENSITIVE. FORM 990, PART VI, SECTION B, LINE 15 REVIEWED BY EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE EMERSON PROVIDES AN ANNUAL FINANCIAL AND ACTIVITY REPORT TO ALL MEMBERS BASED ON FINANCIAL STATEMENTS WHICH ARE REVIEWED BY ITS INDEPENDENT CPA FIRM. GOVERNING DOCUMENTS ARE AVAILABLE ON REQUEST BY THE PUBLIC. FORM 990, PART XII, LINE 2C: BOARD OF DIRECTORS OVERSEE THE SELECTION OF THE OUTSIDE ACCOUNTING FIRM. REPORTS ARE REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS BEFORE BEING FINALIZED.