Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
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MediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
A For the 2021 calendar year, or tax year beginning 01-01-2022 , and ending 12-31-2022
BCheck if applicable:
CName of organization
Artspace Projects Inc
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
250 3rd Avenue North 400
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Minneapolis, MN55401
D Employer identification number

41-1350071
E Telephone number

G Gross receipts $ 31,449,801
F Name and address of principal officer:
L Kelley Lindquist
250 3rd Avenue North 400
Minneapolis,MN55401
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.artspace.org
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number MediumBullet  
K Form of organization:  
L Year of formation: 1978
M State of legal domicile: MN
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: To create, foster, and preserve affordable space for artists and arts organizations.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 40
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 40
5 Total number of individuals employed in calendar year 2021 (Part V, line 2a) ...... 5 51
6 Total number of volunteers (estimate if necessary) ............. 6 40
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 141,424
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 8,779,806 14,176,887
9 Program service revenue (Part VIII, line 2g) ......... 23,938,296 16,375,352
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 745,312 510,004
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 1,037,399 175,000
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 34,500,813 31,237,243
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 1,646,057 734,479
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 5,820,193 6,670,577
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet589,088    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 25,097,325 23,806,873
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 32,563,575 31,211,929
19 Revenue less expenses. Subtract line 18 from line 12....... 1,937,238 25,314
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 90,966,612 88,532,198
21 Total liabilities (Part X, line 26)............. 63,013,206 60,426,934
22 Net assets or fund balances. Subtract line 21 from line 20..... 27,953,406 28,105,264
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
JumboBullet
Signature of officer Date
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Type or print name and title
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Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name MediumBullet

Firm's EIN MediumBullet
Firm's address MediumBullet



Phone no.
May the IRS discuss this return with the preparer shown above? (see instructions) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2021)
Form 990 (2021)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: Artspace's Mission is to create, foster, and preserve affordable space for artists and arts organizations.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 19,327,621 including grants of $ 0 ) (Revenue $ 1,590,283 )
Real Estate Projects - Provides properties that are sensitive to the unique needs and environment necessary for artists, arts organizations, 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.
4b (Code:   ) (Expenses $ 1,227,099 including grants of $ 0 ) (Revenue $ 7,399,192 )
Development - Develops artists' live/work space 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 artists, space and art facilities.
4c (Code:   ) (Expenses $ 1,746,217 including grants of $ 0 ) (Revenue $ 517,104 )
Consulting and Strategic Partnerships - Provides a computerized registry and handout of spaces available for rent or purchase; consulting services to arts organizations and individual artists around the country; support on real estate development projects, community building, diversity in the arts, and neighborhood development and the arts.
(Code:   ) (Expenses $ 6,547,530 including grants of $ 734,479 ) (Revenue $ 6,727,349 )
Asset & Property Management - Asset Management oversees and collaborates with artists cooperatives, arts tenants, partners, funders, and management companies of the Organization's limited partnership holdings, to establish and maintain long-term financially and physically stable assets. Property Management provides services for various projects, and is responsible for overseeing and coordinating the daily status of the project including financial, physical and tenant communications, and reporting on the ongoing status of the projects and with regard to issues requiring owner input and decisions.
4d Other program services (Describe in Schedule O.)
(Expenses $ 6,547,530 including grants of $ 734,479 ) (Revenue $ 6,727,349 )
4e Total program service expensesMediumBullet28,848,467
Form 990 (2021)
Form 990 (2021)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment
List of Attached Documents:
// Content
.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment
List of Attached Documents:
// Content
.........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment
List of Attached Documents:
// Content
.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment
List of Attached Documents:
// Content
....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
 
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
 
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
 
No
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment
List of Attached Documents:
// Content
.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment
List of Attached Documents:
// Content
............
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
 
No
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
 
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........
14b
 
No
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...
16
 
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2021)
Form 990 (2021)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
List of Attached Documents:
// Content
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
 
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
 
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
 
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
 
No
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...Click to see attachment
List of Attached Documents:
// Content
35b
 
No
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
List of Attached Documents:
// Content
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
List of Attached Documents:
// Content
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
29
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
Form 990 (2021)
Form 990 (2021)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
51
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file. See instructions.
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
 
No
b
If "Yes," enter the name of the foreign country: MediumBullet
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, any disqualified person, or mine operator engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2021)
Form 990 (2021)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
40
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
40
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filedMediumBullet
AR , CA , HI , IN , MD , MI , MN , NY , TN
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletSteve Stanley250 3rd Avenue North Suite 400   Minneapolis,MN55401 (612) 333-9012
Form 990 (2021)
Form 990 (2021)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) L Kelley Lindquist......................................................................
President
 40.00
.................
10.00 		    X       248,606 0 31,401
(2) William Law......................................................................
Chief Operating Officer
 40.00
.................
10.00 		    X       211,860 0 29,564
(3) Greg Handberg......................................................................
Sr. VP, Properties
 50.00
.................
0.00 		      X     202,648 0 22,616
(4) Wendy Holmes......................................................................
Sr. VP, Consulting
 50.00
.................
0.00 		      X     192,136 0 36,046
(5) Kathleen Kvern......................................................................
Sr. VP, National Advancement
 40.00
.................
10.00 		        X   164,604 0 24,284
(6) Steve Stanley......................................................................
Chief Financial Officer
 50.00
.................
2.00 		    X       156,877 0 33,154
(7) Stacey Mickelson......................................................................
VP, Government Relations
 40.00
.................
10.00 		        X   147,106 0 18,993
(8) Naomi Chu......................................................................
VP, Asset Management
 40.00
.................
0.00 		        X   114,494 0 20,518
(9) Teri Deaver......................................................................
VP, Consulting
 50.00
.................
0.00 		        X   109,347 0 18,598
(10) Herman J Milligan Jr PhD......................................................................
Chair/Past Chair
 1.00
.................
0.00 		X   X       0 0 0
(11) Betty Massey......................................................................
Vice Chair/Chair
 1.00
.................
0.00 		X   X       0 0 0
(12) Irene Quarshie......................................................................
Vice Chair
 1.00
.................
0.00 		X   X       0 0 0
(13) Gary Cunningham......................................................................
Secretary
 1.00
.................
0.00 		X   X       0 0 0
(14) Mark Manbeck......................................................................
Treasurer
 1.00
.................
0.00 		X   X       0 0 0
(15) Peggy Lucas......................................................................
Board Member
 1.00
.................
0.00 		X           0 0 0
(16) Joel Ronning......................................................................
Board Member
 1.00
.................
0.00 		X           0 0 0
(17) Marie Feely......................................................................
Board Member
 1.00
.................
0.00 		X           0 0 0
Form 990 (2021)
Form 990 (2021)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) Mark W Addicks........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(19) Devon Akmon........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(20) Peter Beard........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(21) Terry Benelli........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(22) Randall Boursheidt........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(23) Diane Dalto Woosnam........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(24) Matthew E Damon........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(25) Louis Lou DeMars........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(26) Janis Lane-Ewart........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(27) Ian Friendly........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(28) Roy Gabay........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(29) Bonnie Heller Ended Mar........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(30) Burton Kassell........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(31) Peter A Lefferts........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(32) Ceil Cirillo........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(33) Richard Martin Esq........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(34) Dan C Mehls........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(35) Roger Opp Ended Nov........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(36) Sarah Oquist........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(37) Gloria Sewell........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(38) Barbara Portwood........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(39) Elizabeth Redleaf........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(40) Annamarie Saarinen........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(41) Susan Kenny Stevens PhD........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(42) Curtis Thornhill........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(43) Cree Zischke........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(44) Osh Ashruf........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(45) Suzanne Koepplinger........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(46) Christopher Scott........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(47) Neal Richardson........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(48) Jason Stamm........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(49) Joe Gibbons........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(50) Mary Margaret McMillan........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
(51) Chandler Wilson........................................................................
Board Member
 1.00
.......................0.00 		X           0 0 0
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)...........MediumBullet 1,547,678 0 235,174
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization MediumBullet9
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
Spectrum General Contractors

5135 E 38th Avenue
Denver,CO80207 		Construction/Architecture 484,184
Kevin Daly Architects

3617 W Exposition Boulevard
Los Angeles,CA90016 		Construction/Architecture 390,163
RATIO Architects

101 S Pennsylvania Street
Indianapolis,IN46204 		Construction/Architecture 358,711
HHL Architects

172 Allen Street
Buffalo,NY14201 		Construction/Architecture 327,508
Cuningham Group Architecture

201 Main St SE Ste 325
Minneapolis,MN55414 		Construction/Architecture 206,386
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet8
Form 990 (2021)
Form 990 (2021)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d  
e Government grants (contributions)1e 8,789,412
f All other contributions, gifts, grants, and similar amounts not included above1f 5,387,475
g Noncash contributions included in lines 1a - 1f:$ 1g  
h Total. Add lines 1a-1f.......MediumBullet 14,176,887
Program Service RevenueAmt Business Code
2a Rental Revenue 531190 7,540,616 7,399,192 141,424  
b Developer Fees 531390 1,590,283 1,590,283    
c Property Management Fees 531390 1,073,848 1,073,848    
d Consulting Services 531390 517,104 517,104    
e Project Fees 531390 49,550 49,550    
f All other program service revenue. 5,603,951 5,603,951    
g Total. Add lines 2a–2f .....MediumBullet 16,375,352
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ......MediumBullet 722,562     722,562
4 Income from investment of tax-exempt bond proceedsMediumBullet        
5 Royalties...........MediumBullet        
(ii) Personal (i) Real
6a Gross rents     6a
b Less: rental expenses     6b
c Rental income or (loss)     6c
d Net rental income or (loss).......MediumBullet        
(ii) Other (i) Securities
7a Gross amount from sales of assets other than inventory     7a
b Less: cost or other basis and sales expenses 212,558   7b
c Gain or (loss) -212,558   7c
d Net gain or (loss).........MediumBullet -212,558     -212,558
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events..MediumBullet      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..MediumBullet        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..MediumBullet        
Business Code Miscellaneous Revenue
11a Debt Forgiveness 900099 175,000     175,000
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 175,000
12 Total revenue. See instructions.....MediumBullet 31,237,243 16,233,928 141,424 685,004
Form 990 (2021)
Form 990 (2021)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 734,479 734,479
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ...........    
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............    
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 1,165,898 770,203 341,583 54,112
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........ 4,457,905 3,899,705 224,367 333,833
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 147,833 129,510 5,816 12,507
9 Other employee benefits ....... 554,902 494,201 27,484 33,217
10 Payroll taxes ........... 344,039 290,279 31,189 22,571
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 25,416 17,342 4,577 3,497
c Accounting ........... 87,552 59,739 15,768 12,045
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ......        
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 518,759 353,961 93,428 71,370
12 Advertising and promotion .... 51,520 40,818 1,914 8,788
13 Office expenses ....... 677,534 509,922 146,721 20,891
14 Information technology ......        
15 Royalties ..        
16 Occupancy ........... 2,274,753 2,087,540 187,213  
17 Travel ............ 516,217 451,294 48,666 16,257
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings ....        
20 Interest ........... 1,901,470 1,635,888 265,582  
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 2,063,408 2,063,408    
23 Insurance ... 705,300 593,137 112,163  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a Bad Debt 12,373,587 12,273,569 100,018  
b Equipment & Maintanance 1,069,865 901,983 167,882  
c Master Leases 1,013,595 1,013,595    
d Project Management 194,355 194,355    
e All other expenses 333,542 333,539 3  
25 Total functional expenses. Add lines 1 through 24e 31,211,929 28,848,467 1,774,374 589,088
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2021)
Form 990 (2021)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........   1  
2 Savings and temporary cash investments ......... 12,204,379 2 7,992,024
3 Pledges and grants receivable, net ...... 249,840 3 1,669,730
4 Accounts receivable, net ............. 17,884,349 4 14,208,906
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
  5  
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
  6  
7 Notes and loans receivable, net ...........   7  
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 94,674 9 246,059
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 85,106,663
b Less: accumulated depreciation 10b 37,375,869 46,118,501 10c 47,730,794
11 Investments—publicly traded securities .   11  
12 Investments—other securities. See Part IV, line 11 ..... 310,563 12 310,563
13 Investments—program-related. See Part IV, line 11 ..   13  
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 14,104,306 15 16,374,122
16 Total assets. Add lines 1 through 15 (must equal line 33)... 90,966,612 16 88,532,198
Liabilities 17 Accounts payable and accrued expenses ..... 9,618,252 17 10,839,437
18 Grants payable ...   18  
19 Deferred revenue ......... 3,182,666 19 2,945,731
20 Tax-exempt bond liabilities .........   20  
21 Escrow or custodial account liability. Complete Part IV of Schedule D   21  
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties .. 49,782,988 23 46,173,101
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 429,300 25 468,665
26 Total liabilities. Add lines 17 through 25.. 63,013,206 26 60,426,934
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here MediumBullet and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 23,095,894 27 23,761,359
28 Net assets with donor restrictions ........... 4,857,512 28 4,343,905
Organizations that do not follow FASB ASC 958, check here MediumBullet and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 27,953,406 32 28,105,264
33 Total liabilities and net assets/fund balances ........ 90,966,612 33 88,532,198
Form 990 (2021)
Form 990 (2021)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
31,237,243
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
31,211,929
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
25,314
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
27,953,406
5
Net unrealized gains (losses) on investments ...............
5
 
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
126,544
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
28,105,264
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2021)
Form 990 (2021)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public
Inspection
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2022

Schedule A (Form 990) 2022
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2018 (b) 2019 (c) 2020 (d) 2021 (e) 2022 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. 10,978,829 14,458,823 8,453,629 8,779,806 14,176,887 56,847,974
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf....            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3 10,978,829 14,458,823 8,453,629 8,779,806 14,176,887 56,847,974
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) .. 6,139,445
6 Public support. Subtract line 5 from line 4. 50,708,529
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2018 (b) 2019 (c) 2020 (d) 2021 (e) 2022 (f) Total
7 Amounts from line 4.. 10,978,829 14,458,823 8,453,629 8,779,806 14,176,887 56,847,974
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 702,351 800,552 740,642 749,704 722,562 3,715,811
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 140,753 1,809,247 334,383 1,037,399 175,000 3,496,782
11 Total support. Add lines 7 through 10 64,060,567
12
12
86,687,730
13
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................right arrow
Section C. Computation of Public Support Percentage
14
14
79.160 %
15
15
80.060 %
16a
33 1/3% support test—2022. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization .......................right arrow
b
33 1/3% support test—2021. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow
17a
10%-facts-and-circumstances test—2022. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
b
10%-facts-and-circumstances test—2021. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990) 2022

Schedule A (Form 990) 2022
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2018 (b) 2019 (c) 2020 (d) 2021 (e) 2022 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose            
3 Gross receipts from activities that are not an unrelated trade or business under section 513 .....            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge            
6 Total. Add lines 1 through 5            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support. (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2018 (b) 2019 (c) 2020 (d) 2021 (e) 2022 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
33 1/3% support tests-2022. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow
b
33 1/3% support tests—2021. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow
20
Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow
Schedule A (Form 990) 2022

Schedule A (Form 990) 2022
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990) 2022

Schedule A (Form 990) 2022
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990) 2022

Schedule A (Form 990) 2022
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by 0.035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Schedule A (Form 990) 2022

Schedule A (Form 990) 2022
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2022 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2022 		(iii)
Distributable
Amount for 2022
1 Distributable amount for 2022 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2022 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2022:
a From 2017.......  
b From 2018.......  
c From 2019.......  
d From 2020.......  
e From 2021.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2022 distributable amount  
i Carryover from 2017 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2022 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2022 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2022, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions. 		 
6 Remaining underdistributions for 2022. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions. 		 
7 Excess distributions carryover to 2023. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2018.....  
b Excess from 2019.....  
c Excess from 2020.....  
d Excess from 2021.....  
e Excess from 2022.....  
Schedule A (Form 990) (2022)

Schedule A (Form 990) 2022
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A, Part II, Line 10, Explanation of Other Income: Debt Forgiveness - 2018 Amount: $ 140,753. 2019 Amount: $ 1,809,247. 2020 Amount: $ 334,383. 2021 Amount: $ 1,037,399. 2022 Amount: $ 175,000.
Schedule A (Form 990) 2022


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2022
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ






Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......... Arrow Bullet $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (2022)
Schedule B (Form 990) (2022) Page 2
Name of organization
Artspace Projects Inc
  		Employer identification number
41-1350071
Part I
Contributors
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 
 
 
  ,    

$ RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (2022)
Schedule B (Form 990) (2022)
Page 3
Name of organization
Artspace Projects Inc
  		Employer identification number

41-1350071
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (2022)
Schedule B (Form 990) (2022)
Page 4
Name of organization
Artspace Projects Inc
  		Employer identification number

41-1350071
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (2022)
Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

SchCMd Bullet Complete if the organization is described below. SchCMd Bullet Attach to Form 990 or Form 990-EZ.
SchCMd BulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................SchCMd Bullet
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 ................................SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................
4a
Was a correction made? ......................................................................................................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b...........SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ...................................................................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6
For Paperwork Reduction Act Notice, see the instructions for Form 990.
Cat. No. 50084S
Schedule C (Form 990) 2021

Schedule C (Form 990) 2021
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check SchCMd Bulletexpenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ...................... 0  
b Total lobbying expenditures to influence a legislative body (direct lobbying) ........................ 0  
c Total lobbying expenditures (add lines 1a and 1b) ............................................................ 0  
d Other exempt purpose expenditures ............................................................................... 28,848,467  
e Total exempt purpose expenditures (add lines 1c and 1d) .................................................. 28,848,467  
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		 1,000,000  
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) ................................................. 250,000  
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................ 0  
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................ 0  
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ...................................................................................................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2018 (b) 2019 (c) 2020 (d) 2021 (e) Total
2a Lobbying nontaxable amount 1,000,000 1,000,000 1,000,000 1,000,000 4,000,000
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		6,000,000
c Total lobbying expenditures 44,166 29,167     73,333
d Grassroots nontaxable amount 250,000 250,000 250,000 250,000 1,000,000
e Grassroots ceiling amount
(150% of line 2d, column (e))		 1,500,000
f Grassroots lobbying expenditures          
Schedule C (Form 990) 2021


Schedule C (Form 990) 2021
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
Yes|No
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? ...........................................................................................................
 
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
 
 
c
Media advertisements? ...................................................................................................
 
 
 
d
Mailings to members, legislators, or the public? .............................................................................
 
 
 
e
Publications, or published or broadcast statements? ...........................................................
 
 
 
f
Grants to other organizations for lobbying purposes? ..........................................................
 
 
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? .......................
 
 
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
 
 
i
Other activities? ...................................................................................................................
 
 
 
j
Total. Add lines 1c through 1i ....................................................................................................
 
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
 
b
If "Yes," enter the amount of any tax incurred under section 4912 ...........................................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ...............................................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members ......................................................................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).
a
Current year .............................................................................................................................
2a
 
b
Carryover from last year ............................................................................................................
2b
 
c
Total ...........................................................................................................................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................
4
 
5
Taxable amount of lobbying and political expenditures. See Instructions .........................................
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
Schedule C (Form 990) 2021


Additional Data


Software ID:  
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SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
SchDMd Bullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public Inspection
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 7/25/06, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2021

Schedule D (Form 990) 2021
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance ....          
b Contributions ...          
c Net investment earnings, gains, and losses          
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		         
f Administrative expenses ....          
g End of year balance ......          
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet  
b
Permanent endowment SchDMd Bullet  
c
Term endowment SchDMd Bullet  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   10,036,715 10,036,715
b Buildings ....   73,947,130 37,375,869 36,571,261
c Leasehold improvements        
d Equipment ....        
e Other .....   1,122,818   1,122,818
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 47,730,794
Schedule D (Form 990) 2021

Schedule D (Form 990) 2021
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives.........    
(2) Closely-held equity interests........    
(3)Other
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)Investments & Receivables With Related Parties 16,374,122
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet 16,374,122
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes  
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 468,665
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) 2021

Schedule D (Form 990) 2021
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1.................. 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d.................... 2e  
3 Subtract line 2e from line 1................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Part X, Line 2: Artspace 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. Artspace 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.
Schedule D (Form 990) 2021


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Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990.
lBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2022
Open to Public
Inspection
Name of the organization
Artspace Projects Inc
 
Employer identification number
41-1350071
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) The Cowles Center
250 3rd Ave N Suite 400
Minneapolis,MN55401 		27-1173436 501(c)(3) 734,479 0     Grant for Dance program.
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
1
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
0
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2022

Schedule I (Form 990) 2022
Page 2
Part III
Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Number of
recipients		 (c) Amount of
cash grant		 (d) Amount of
noncash assistance		 (e) Method of valuation (book,
FMV, appraisal, other)		 (f) Description of noncash assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
Part I, Line 2: Artspace Projects, Inc maintains an ongoing relationship with the recipient organization and has access to all financial records. This allows API to monitor the use of all funds.
Schedule I (Form 990) 2022



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Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990.
SchJMediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2022
Open to Public Inspection
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
 
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
 
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2022

Schedule J (Form 990) 2022
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1L Kelley Lindquist
President 		(i)

(ii)		 236,606
-------------
0 		12,000
-------------
0 		0
-------------
0 		12,600
-------------
0 		18,999
-------------
0 		280,205
-------------
0 		0
-------------
0
2William Law
Chief Operating Officer 		(i)

(ii)		 201,610
-------------
0 		10,250
-------------
0 		0
-------------
0 		10,763
-------------
0 		18,999
-------------
0 		241,622
-------------
0 		0
-------------
0
3Greg Handberg
Sr. VP, Properties 		(i)

(ii)		 192,998
-------------
0 		9,650
-------------
0 		0
-------------
0 		10,132
-------------
0 		12,682
-------------
0 		225,462
-------------
0 		0
-------------
0
4Wendy Holmes
Sr. VP, Consulting 		(i)

(ii)		 182,486
-------------
0 		9,650
-------------
0 		0
-------------
0 		10,132
-------------
0 		26,111
-------------
0 		228,379
-------------
0 		0
-------------
0
5Kathleen Kvern
Sr. VP, National Advancement 		(i)

(ii)		 156,604
-------------
0 		8,000
-------------
0 		0
-------------
0 		8,400
-------------
0 		16,081
-------------
0 		189,085
-------------
0 		0
-------------
0
6Steve Stanley
Chief Financial Officer 		(i)

(ii)		 148,877
-------------
0 		8,000
-------------
0 		0
-------------
0 		8,000
-------------
0 		25,352
-------------
0 		190,229
-------------
0 		0
-------------
0
7Stacey Mickelson
VP, Government Relations 		(i)

(ii)		 147,106
-------------
0 		0
-------------
0 		0
-------------
0 		7,418
-------------
0 		11,774
-------------
0 		166,298
-------------
0 		0
-------------
0
Schedule J (Form 990) 2022

Schedule J (Form 990) 2022
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
Part I, Line 7 The organization determines the total amount available for bonuses and that amount is then allocated to individuals based on their compensation and contributions to the organization. The final list of individuals receiving bonus payments is reviewed and approved by the Board Chair, President, and Chief Operating Officer.
Schedule J (Form 990) 2022

Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Return Reference Explanation
Form 990, Part VI, Section A, line 1a The Executive Committee consists of all officers of the Corporation who are also directors, plus such at-large directors as the Board shall determine from time to time. The Executive Committee is empowered and authorized to act upon such matters as require action prior to the next regularly scheduled Board of Directors meeting and any such actions of the Executive Committee shall have the same force and effect as an action of the Board of Directors. The Executive Committee shall employ, discharge and determine the duties and compensation of the President.
Form 990, Part VI, Section B, line 11b The Form 990 is reviewed and approved by the CFO and Finance Committee and also provided to the entire board prior to filing.
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 was collected from all board members in the fall of 2020. An interested person may present the facts of the proposed transaction or arrangement, but may not discuss or vote on approval. The Chair of the Board 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 15 Compensation for the President of Artspace Projects, Inc. is established by the Executive Committee based on comparable data available for various non-profit and for-profit real estate development salary surveys. Surveys for both non-profits and for-profits are used because staff retention is affected by both areas. The Board Chair reviews the President's performance on an annual basis. The Board Chair discusses this review with other Board Officers. Only cost of living or no increases have been provided since that time. The last review of the President was conducted in July of 2018. Compensation for other officers is determined by the President and Chief Operating Officer in consultation with the Board Chair. Compensation is based on comparable data available for various non-profit and for-profit real estate development salary surveys. Only cost of living or no increases have been provided since that time.
Form 990, Part VI, Section C, line 19 The Articles of Incorporation, Bylaws, Conflict of Interest policy, and financial information are provided upon request.
Form 990, Part XI, line 9: Acquisition of Properties 126,544.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) 2021


Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990.
MediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
2021
Open to Public Inspection
Name of the organization
Artspace Projects Inc
 
Employer identification number

41-1350071
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) Artspace Baltimore LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 0 539,478 Artspace Projects Inc
 
(2) Artspace Brainerd LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
20-1367855 		Holding Company MN 0 1,850,344 Artspace Projects Inc
 
(3) Artspace Bridgeport LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-2018262 		Holding Company MN 0 0 Artspace Projects Inc
 
(4) Artspace Bridgeport LP
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company CT 368,355 6,228,761 Artspace Projects Inc
 
(5) Artspace CAFAC LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 141,984 850,920 Artspace Projects Inc
 
(6) Artspace Chicago LP
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 195,453 1,602,587 Artspace Projects Inc
 
(7) Artspace Everett LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 0 1,480,377 Artspace Projects Inc
 
(8) Artspace Harvester Artist Lofts LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company IA 0 2,260,022 Artspace Projects Inc
 
(9) Artspace Hiawatha LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 0 1,123,909 Artspace Projects Inc
 
(10) Artspace Mt Baker Commercial LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 191,901 2,198,967 Artspace Projects Inc
 
(11) Artspace Mt Rainier LP
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MD 401,220 6,798,733 Artspace Projects Inc
 
(12) Artspace Northern Warehouse Commercial Unit LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-2004838 		Holding Company MN 486,024 524,594 Artspace Projects Inc
 
(13) Artspace Northrup King LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 2,135,130 11,131,323 Artspace Projects Inc
 
(14) Artspace Tannery LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-3695585 		Holding Company CA 418,789 548,471 Artspace Projects Inc
 
(15) Artspace Kaplan LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company WA 949,640 6,221,927 Artspace Projects Inc
 
(16) Artspace Tennessee Nonprofit LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
81-1744380 		Holding Company TN 0 7,459,021 Artspace Projects Inc
 
(17) Bell School Landowner LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company LA 0 280,332 Artspace Projects Inc
 
(18) Brookland Artspace Lofts Minnesota LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 0 204,459 Artspace Projects Inc
 
(19) City Hall Commercial LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 215,331 2,566,596 Artspace Projects Inc
 
(20) Hamilton Plaza LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 0 168,376 Artspace Projects Inc
 
(21) The Historic National Hotel Artist Lofts LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1975810 		Holding Company TX 233,465 2,348,981 Artspace Projects Inc
 
(22) Historic Westside School LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
13-4342116 		Holding Company MN 0 1,903,378 Artspace Projects Inc
 
(23) Jackson Flats LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 0 129,690 Artspace Projects Inc
 
(24) Kaddatz Artsist Lofts LP
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 98,400 951,242 Artspace Projects Inc
 
(25) Ola Ka Ilima Arts Center LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 228,870 148,556 Artspace Projects Inc
 
(26) Performance Property Management Company LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1928196 		Holding Company MN 1,417,657 361,932 Artspace Projects Inc
 
(27) Riverside Artist Lofts LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1957459 		Holding Company MN 0 3,746,908 Artspace Projects Inc
 
(28) Tashiro Arts Building LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company WA 339,154 1,072,096 Artspace Projects Inc
 
(29) Towns on Grove LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MD 13,664 17,593 Artspace Projects Inc
 
(30) Washington Studios LP
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1350071 		Holding Company MN 380,740 721,838 Artspace Projects Inc
 
(31) Everett Stations Lofts LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1923434 		Holding Company MN 0 0 Artspace Projects Inc
 
(32) Shubert Landholding LLC
250 3rd Avenue North Suite 400
Minneapolis,MN55401
27-1080431 		Holding Company MN -14,414 3,801,573 Artspace Projects Inc
 
Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1)The Cowles Center
250 3rd Avenue North Suite 400

Minneapolis,MN55401
27-1173436 		Theater MN 501(c)(3) Line 7 Artspace Projects Inc
 
Yes
 












For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2021
Schedule R (Form 990) 2021
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) Artspace Affordable Family Housing I LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
35-2248133 		LIHTC Rental Housing NY Artspace Affordable Family Housing GP LLC
  		Rentals   550,629   No     No 0.400 %
(2) Artspace Bell School LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-2821231 		LIHTC Rental Housing MN Artspace Bell School LLC
  		Rentals   18,609,326   No     No 0.010 %
(3) Artspace Brainerd LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
20-1387993 		LIHTC Rental Housing MN Artspace Brainerd LLC
  		Rentals   1,850,344   No     No 0.010 %
(4) Artspace Colorado Springs LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
88-3562090 		LIHTC Rental Housing MN Artspace Brainerd LLC
  		Rentals   3,750,001   No     No 0.010 %
(5) Artspace El Paso Lofts Housing LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-1830262 		LIHTC Rental Housing MN Artspace El Paso Lofts LLC
  		Rentals   3,249,010   No     No 0.010 %
(6) Artspace Everett LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
61-1569469 		LIHTC Rental Housing MN Artspace Everett LLC
  		Rentals   1,480,377   No     No 0.010 %
(7) Artspace Hastings Lofts LLLP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-5430917 		LIHTC Rental Housing MN Artspace Hastings Lofts LLC
  		Rentals   460,222   No     No 0.010 %
(8) Artspace Hiawatha LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
20-5002364 		LIHTC Rental Housing MN Artspace Hiawatha LLC
  		Rentals   1,123,909   No     No 0.010 %
(9) Artspace Jackson Flats LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
80-0825121 		LIHTC Rental Housing MN Artspace Jackson Flats LLC
  		Rentals   654,384   No     No 0.010 %
(10) Artspace Loveland LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-1966137 		LIHTC Rental Housing MN Artspace Loveland LLC
  		Rentals   1,146,827   No     No 0.010 %
(11) Artspace Mesa LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
81-0851404 		LIHTC Rental Housing MN Artspace Mesa Lofts LLC
  		Rentals   1,510,749   No     No 0.010 %
(12) Artspace Mt Baker Lofts LLLP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
90-0926924 		LIHTC Rental Housing MN Artspace Mt Baker Lofts LLC
  		Rentals   290,448   No     No 0.010 %
(13) Artspace Northern Warehouse LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
30-0500976 		LIHTC Rental Housing MN Artspace Northern Warehouse LLC
  		Rentals   1,796,653   No     No 0.010 %
(14) Artspace Patchogue Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-2299573 		LIHTC Rental Housing NY Artspace Patchogue Lofts GP LLC
  		Rentals   105,001   No     No 0.010 %
(15) Artspace Ridgway LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
84-1911903 		LIHTC Rental Housing CO Artspace Ridgway GP LLC
  		Rentals   8,733,917   No     No 0.010 %
(16) Artspace Trinidad LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
81-2431074 		LIHTC Rental Housing MN Artspace Trinidad GP LLC
  		Rentals   7,941,325   No     No 0.010 %
(17) Artspace Uptown Artist Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-1799091 		LIHTC Rental Housing MN Uptown Artists Lofts LLC
  		Rentals   2,716,481   No     No 0.010 %
(18) Brookland Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-4203805 		LIHTC Rental Housing DC Brookland Artspace Loft Minnesota LLC
  		Rentals   204,459   No     No 0.010 %
(19) City Hall Artist Lofts Ltd Dividend Housing Assoc LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-3342384 		LIHTC Rental Housing MN City Hall Artist Lofts LLC
  		Rentals   4,782,617   No     No 0.010 %
(20) El Barrio Artspace LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
38-3749676 		LIHTC Rental Housing NY El Barrio Artspace LLC
  		Rentals   5,228,255   No     No 0.010 %
(21) Elgin Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-4595718 		LIHTC Rental Housing MN Elgin Artspace Lofts LLC
  		Rentals   2,916,154   No     No 0.010 %
(22) Hamilton Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-4533940 		LIHTC Rental Housing MN Hamilton Artspace Lofts LLC
  		Rentals   1,116,849   No     No 0.010 %
(23) Harvester Artist Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-1274535 		LIHTC Rental Housing IA Artspace Harvester Artist Lofts LLC
  		Rentals   2,260,022   No     No 0.010 %
(24) Karcher Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-3013687 		LIHTC Rental Housing NY Karcher Artspace Lofts LLC
  		Rentals   3,140,029   No     No 0.010 %
(25) Minot Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
27-5153835 		LIHTC Rental Housing MN Minot Artspace Lofts LLC
  		Rentals   3,026,593   No     No 0.010 %
(26) Northside Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
83-2395364 		LIHTC Rental Housing MN Northside Artspace Lofts GP LLC
  		Rentals   6,185,973   No     No 0.010 %
(27) Ola Ka Ilima Lofts LLLP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-2951365 		LIHTC Rental Housing MN Ola Ka Ilima Artspace Lofts LLC
  		Rentals   16,151,243   No     No 0.010 %
(28) Pullman Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
32-0511861 		LIHTC Rental Housing MN Pullman Artspace LLC
  		Rentals   2,157,492   No     No 0.010 %
(29) Silver Spring Artspace Lofts LLLP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
32-0524829 		LIHTC Rental Housing MN Silver Spring Artspace Lofts LLC
  		Rentals   501,721   No     No 0.010 %
(30) South Main Artspace Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
81-2413448 		LIHTC Rental Housing TN Artspace Tennessee Nonprofits LLC
  		Rentals   7,459,021   No     No 0.010 %
(31) Tannery Artists Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
65-1287815 		LIHTC Rental Housing CA Tannery Artsists Lofts LLC
  		Rentals   682,926   No     No 0.010 %
(32) Brandt Jens Kluge LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1706530 		LIHTC Rental Housing MN Artspace Projects Inc
  		Rentals   10,202   No     No 49.500 %
(33) Tilsner Building LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1735426 		LIHTC Rental Housing MN Artspace Projects Inc
  		Rentals   447,898   No     No 0.490 %
(34) Artspace Riverside Partnership LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
81-0944775 		LIHTC Rental Housing NV Riverside Artist Lofts LLC
  		Rentals   1,397,788   No     No 60.000 %
(35) Riverside Artist Lofts LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
88-0424838 		LIHTC Rental Housing NV Riverside Artist Lofts LLC
  		Rentals   2,349,120   No     No 49.500 %
(36) Oglala Lakota Arts Center LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-4759489 		LIHTC Rental Housing MN Artspace Projects Inc
  		Rentals   2,418,918   No     No 0.010 %
(37) TZP LLP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1769748 		LIHTC Rental Housing MN Artspace Projects Inc
  		Rentals   844,562   No     No 50.000 %
(38) Sailboat Bend LP

250 3rd Avenue North Suite 400
Minneapolis,MN55401
20-0899374 		LIHTC Rental Housing MN Sailboat Bend LLC
  		Rentals   7,175,787   No     No 0.010 %
(39) Artspace Loveland Feed & Grain Building LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-4473028 		LIHTC Rental Housing MN Artspace Loveland Feed & Grain MM LLC
  		Rentals   5,272,649   No     No 0.010 %
Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) Artspace Affordable Family Housing Development Corp

250 3rd Avenue North Suite 400
Minneapolis,MN55401
75-3201620 		Holding Company NY Artspace Projects Inc
  		C   550,629 100.000 %   No
(2) Artspace Affordable Family Housing GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
35-2248130 		Holding Company NY Artspace Projects Inc
  		C   110,871 100.000 %   No
(3) Artspace Bell School LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-2821231 		Holding Company MN Artspace Projects Inc
  		C   18,609,326 100.000 %   No
(4) Artspace Colorado Springs GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
88-3605797 		Holding Company MN Artspace Projects Inc
  		C     100.000 %   No
(5) Artspace Development Corporation

250 3rd Avenue North Suite 400
Minneapolis,MN55401
41-1671600 		Holding Company MN Artspace Projects Inc
  		C   2,606,968 100.000 %   No
(6) Artspace El Paso Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-4699430 		Holding Company MN Artspace Projects Inc
  		C   3,249,010 100.000 %   No
(7) Artspace Jackson Flats LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-0978548 		Holding Company MN Artspace Projects Inc
  		C   654,384 100.000 %   No
(8) Artspace Hastings Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
82-2891923 		Holding Company MN Artspace Projects Inc
  		C   460,222 100.000 %   No
(9) Artspace Loveland LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-4287192 		Holding Company CO Artspace Projects Inc
  		C   1,146,827 100.000 %   No
(10) Artspace Mesa Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
82-2891923 		Holding Company MN Artspace Projects Inc
  		C   1,510,749 100.000 %   No
(11) Artspace Mt Baker Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-5046950 		Holding Company MN Artspace Projects Inc
  		C   290,448 100.000 %   No
(12) Artspace Northern Warehouse LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-4444950 		Holding Company MN Artspace Projects Inc
  		C   1,796,653 100.000 %   No
(13) Artspace Patchogue Lofts GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-2299526 		Holding Company NY Artspace Projects Inc
  		C   105,001 100.000 %   No
(14) Artspacde Ridgway GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
85-3878494 		Holding Company MN Artspace Projects Inc
  		C   8,733,917 100.000 %   No
(15) Artspace Trinidad GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
82-5181449 		Holding Company MN Artspace Projects Inc
  		C   7,941,325 100.000 %   No
(16) City Hall Artists Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-2263133 		Holding Company MN Artspace Projects Inc
  		C   4,782,617 100.000 %   No
(17) El Barrio Artspace GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
38-3749674 		Holding Company CA Artspace Projects Inc
  		C   5,228,255 100.000 %   No
(18) Elgin Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-3367984 		Holding Company MN Artspace Projects Inc
  		C   2,916,154 100.000 %   No
(19) Hamilton Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-4510083 		Holding Company MN Artspace Projects Inc
  		C   1,116,849 100.000 %   No
(20) Karcher Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
45-3669042 		Holding Company MN Artspace Projects Inc
  		C   3,140,029 100.000 %   No
(21) Minot Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
27-5153874 		Holding Company MN Artspace Projects Inc
  		C   3,026,593 100.000 %   No
(22) Northside Artspace Lofts GP LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
84-3296269 		Holding Company MN Artspace Projects Inc
  		C   6,185,973 100.000 %   No
(23) Ola Ka Ilima Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
46-4251071 		Holding Company MN Artspace Projects Inc
  		C   16,151,243 100.000 %   No
(24) Pullman Artspace LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-2757400 		Holding Company MN Artspace Projects Inc
  		C   2,157,492 100.000 %   No
(25) Sailboat Bend LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
20-0902980 		Holding Company FL Artspace Projects Inc
  		C   7,175,787 100.000 %   No
(26) Silver Spring Artspace Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
81-4224912 		Holding Company MN Artspace Projects Inc
  		C   501,721 100.000 %   No
(27) Tannery Artists Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
26-3695585 		Holding Company CA Artspace Projects Inc
  		C   682,926 90.000 %   No
(28) Uptown Artist Lofts LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
47-1798856 		Holding Company MN Artspace Projects Inc
  		C   2,716,481 100.000 %   No
(29) Artspace Loveland Feed & Grain MM LLC

250 3rd Avenue North Suite 400
Minneapolis,MN55401
88-3455313 		Holding Company MN Artspace Projects Inc
  		C   5,272,649 100.000 %   No
Schedule R (Form 990) 2021
Schedule R (Form 990) 2021
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
 
No
c Gift, grant, or capital contribution from related organization(s) ............................
1c
 
No
d Loans or loan guarantees to or for related organization(s) ............................
1d
Yes
 
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
Yes
 
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
 
No
o Sharing of paid employees with related organization(s) ............................
1o
 
No
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
No
q Reimbursement paid by related organization(s) for expenses ............................
1q
Yes
 
r Other transfer of cash or property to related organization(s) ............................
1r
Yes
 
s Other transfer of cash or property from related organization(s) ............................
1s
Yes
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) Ola Ka Ilima Lofts LLLP

 R 15,355,128 FMV
(2) Artspace Bell School LP

 D 12,677,914 FMV
(3) Artspace Trinidad LP

 D 6,643,585 FMV
(4) South Main Artspace Lofts Limited Partnership

 D 3,803,862 FMV
(5) Pullman Artspace Lofts LP

 D 3,380,320 FMV
(6) City Hall Artist Lofts Ltd Dividend Housing Assoc LP

 D 3,255,618 FMV
(7) Artspace Colorado Springs LP

 D 3,200,000 FMV
(8) Artspace El Paso Lofts Limited Partnership

 D 2,855,866 FMV
(9) Elgin Artspace Lofts Limited Partnership

 D 2,814,935 FMV
(10) South Main Artspace Lofts Limited Partnership

 R 2,800,000 FMV
(11) Artspace Ridgway Limited Partnership

 D 2,694,651 FMV
(12) Artspace Bell School LP

 R 2,654,177 FMV
(13) Artspace Bridgeport Limited Partnership

 R 2,571,735 FMV
(14) Northside Artspace Lofts LP

 Q 2,440,178 FMV
(15) Minot Artspace Lofts LP

 D 2,433,627 FMV
(16) Karcher Artspace Lofts Limited Partnership

 D 2,198,664 FMV
(17) Harvester Artist Lofts Limited Partnership

 D 2,039,142 FMV
(18) Elgin Artspace Lofts Limited Partnership

 R 2,025,000 FMV
(19) Artspace Northern Warehouse Limited Partnership

 D 1,800,432 FMV
(20) Artspace Uptown Artist Lofts LP

 D 1,799,451 FMV
(21) Artspace Hiawatha Limited Partnership

 D 1,699,925 FMV
(22) Silver Spring Artspace LoftsLLLP

 Q 1,600,710 FMV
(23) Affordable Family Housing

 R 1,576,919 FMV
(24) El Barrio Artspace LP

 R 1,575,000 FMV
(25) Affordable Family Housing

 D 1,550,613 FMV
(26) Affordable Family Housing

 S 1,543,239 FMV
(27) Riverside Artist Lofts Limited Partnership

 D 1,501,891 FMV
(28) Northside Artspace Lofts LP

 R 1,451,634 FMV
(29) Northside Artspace Lofts LP

 D 1,371,043 FMV
(30) Riverside Artist Lofts Limited Partnership

 S 1,183,975 FMV
(31) Tannery Artists Lofts Limited Partnersh1p

 R 1,121,516 FMV
(32) Artspace Mesa Limited Partnership

 D 1,100,000 FMV
(33) El Barrio Artspace LP

 D 1,090,104 FMV
(34) Artspace Loveland LP

 D 1,011,200 FMV
(35) Artspace Patchogue Lofts Limited Partnership

 Q 1,009,458 FMV
(36) Artspace Northern Warehouse Limited Partnership

 Q 962,635 FMV
(37) Artspace Everett Limited Partnership

 D 942,525 FMV
(38) South Main Artspace Lofts Limited Partnership

 Q 830,211 FMV
(39) Artspace Bridgeport Limited Partnership

 D 800,228 FMV
(40) Artspace Everett Limited Partnership

 Q 768,953 FMV
(41) Artspace Trinidad LP

 Q 722,815 FMV
(42) City Hall Artist Lofts Ltd Dividend Housing Assoc LP

 S 701,504 FMV
(43) Artspace Northern Warehouse Limited Partnership

 R 684,054 FMV
(44) Hamilton Artspace Lofts Limited Partnership

 D 671,574 FMV
(45) Ola Ka Ilima Lofts LLLP

 Q 643,303 FMV
(46) Ola Ka Ilima Lofts LLLP

 D 641,653 FMV
(47) Karcher Artspace Lofts Limited Partnership

 Q 582,754 FMV
(48) Artspace Brainerd Limned Partnership

 S 572,787 FMV
(49) Minot Artspace Lofts LP

 S 566,340 FMV
(50) City Hall Artist Lofts Ltd Dividend Housing Assoc LP

 Q 556,672 FMV
(51) Artspace Bell School LP

 Q 550,106 FMV
(52) Artspace Ridgway Limited Partnership

 Q 550,106 FMV
(53) Brookland Artspace Lofts LLC

 D 515,488 FMV
(54) Artspace Mt Baker Lofts LLLP

 D 514,839 FMV
(55) Artspace Uptown Artist Lofts LP

 S 509,124 FMV
(56) Silver Spring Artspace LoftsLLLP

 D 500,000 FMV
(57) Artspace Brainerd Limited Partnership

 D 465,135 FMV
(58) Artspace Hastings Lofts LLLP

 R 460,370 FMV
(59) TZP LLP

 R 358,629 FMV
(60) Artspace Mesa Limited Partnership

 Q 354,970 FMV
(61) Artspace Trinidad LP

 R 350,000 FMV
(62) Artspace Patchogue Lofts Limited Partnership

 D 346,668 FMV
(63) Hamilton Artspace Lofts Limited Partnership

 Q 330,578 FMV
(64) Karcher Artspace Lofts Limited Partnership

 R 313,307 FMV
(65) Artspace Uptown Artist Lofts LP

 Q 306,226 FMV
(66) Artspace Jackson Flats Limited Partnership

 Q 295,362 FMV
(67) El Barrio Artspace LP

 Q 293,518 FMV
(68) Ti1lsner Building Limited Partnership

 D 273,535 FMV
(69) Artspace Brainerd Limited Partnership

 Q 270,994 FMV
(70) Tannery Artists Lofts Limited Partnersh1p

 Q 246,065 FMV
(71) Artspace El Paso Lofts Limited Partnership

 Q 223,652 FMV
(72) Artspace Jackson Flats Limited Partnership

 D 206,038 FMV
(73) Pullman Artspace Lofts LP

 Q 199,398 FMV
(74) Artspace Trinidad LP

 S 188,199 FMV
(75) Harvester Artist Lofts Limited Partnership

 S 184,245 FMV
(76) Brookland Artspace Lofts LLC

 S 147,185 FMV
(77) Artspace El Paso Lofts Limited Partnership

 S 137,088 FMV
(78) El Barrio Artspace LP

 S 91,049 FMV
(79) Kaddatz Artist Lofts Limited Partnership

 R 83,959 FMV
(80) Artspace Loveland LP

 S 69,050 FMV
(81) Artspace Brainerd Limited Partnership

 R 60,213 FMV
(82) Artspace Jackson Flats Limited Partnership

 R 57,286 FMV
(83) Kaddatz Artist Lofts Limited Partnership

 D 51,557 FMV
Schedule R (Form 990) 2021
Schedule R (Form 990) 2021
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2021
Schedule R (Form 990) 2021
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Part IV TATEMENT OF ELECTION UNDER INTERNAL REVENUE CODE SECTION 168(h)(6)(F)(ii) Name of Taxpayer: Artspace Loveland Feed and Grain Building MM, LLC Address of Taxpayer: 250 3 Avenue North, Suite 400 Minneapolis, MN 55401 Taxpayer Identification Number: 88-3455313 Purpose of Election: The election pursuant to Section 168(h)(6)(F)(ii) may be made by an entity that is a tax-exempt controlled entity. Generally, an entity is a tax-exempt controlled entity if it is a corporation which is not tax-exempt and if 50% or more of the stock of such corporation is owned by one or more tax-exempt entities. An entity making the election pursuant to Section 168(h)(6)(F)(ii) shall not be treated as a tax-exempt entity for purposes of Internal Revenue Code Sections 168(h)(5) and 168(h)(6). Any gain recognized by a tax-exempt entity on any disposition of an interest in such entity (and any dividend or interest received or accrued by a tax-exempt entity from such tax-exempt controlled entity) will be treated as unrelated business taxable income. The purpose of this election is to treat Artspace Loveland Feed and Grain Building MM, LLC's allocable share of depreciable property owned by the partnership in which Artspace Loveland Feed and Grain Building MM, LLC's has an investment as property which is not tax-exempt use property. Artspace Loveland Feed and Grain Building MM, LLC's is entitled to make such election because it is a corporation or has elected to be treated for federal tax purposes as an association which is taxable as a corporation and is 100% owned by Artspace Projects, Inc. Artspace Loveland Feed and Grain Building MM, LLC hereby elects pursuant to Internal Revenue Code Section 168(h)(6)(F)(ii) not to be treated as a tax-exempt entity for purposes of applying the rules in Internal Revenue Code Sections 168(h)(5) and 168(h)(6). The tax-exempt status of Artspace Projects, Inc is not affected by this Statement of Election. Applicable Period: This Statement of Election is effective beginning with the taxable year ecember 31, 2022.
Schedule R (Form 990) 2021

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