Courtesy photo: JAS
The Jazz Aspen Snowmass Labor Day weekend concerts are among the most visible of all nonprofit events in the upper valley.
ASPEN - Nonprofits in the upper Roaring Fork River valley collectively brought in more than $103 million and spent nearly $113 million over a recent one-year period. Their combined assets added up to almost $272 million and their chief executives earned well over $6 million, according to an analysis of public data by Aspen Journalism.
With more than 110 organizations holding the IRS’ 501(c)(3) designation in Aspen, Snowmass Village, Snowmass, Woody Creek, and Basalt, it’s clear that nonprofits represent a significant chunk of the local economy. But how much impact do they have? Is the Aspen area awash in too many nonprofits, as some might think? And how well are local chief executives compensated, in comparison to industry averages and best practices?
To attempt to answer some of these questions, Aspen Journalism analyzed nonprofit tax return data from the IRS made available through ProPublica’s Nonprofit Explorer research tool. Most of the data in the Nonprofit Explorer database can be found on an organization’s Form 990, which the IRS requires to be filed annually, unless the nonprofit’s revenues fall under $50,000.
The financial information and calculations here offer a one-year snapshot of the most recent data available, which is generally from 2011, although some records contain earlier or later data depending on how the organization’s fiscal year falls. To ensure as much consistency as possible, we only included records that had at least six months’ worth of 2011 data.
The data in the table, below, can be sorted by using the up and down indicators, and can be expanded to include all 112 organizations listed. The table is preset to show nonprofits by annual revenue. Also see an expanded table that includes all of the data used for this story.
NONPROFIT
LOCATION
REVENUE
EXPENSES
ASSETS
LIABILITIES
EXECUTIVE DIRECTOR PAY
SITE
ASPEN ART MUSEUM
Aspen
$10,739,263
$4,753,715
$17,675,622
$4,029,878
$645,253
ROCKY MOUNTAIN INSTITUTE
Snowmass
$10,020,846
$11,755,862
$10,280,047
$2,720,530
$620,763
MUSIC ASSOCIATES OF ASPEN INC/ ASPEN MUSIC FESTIVAL AND SCHOOL
Aspen
$7,673,803
$14,035,128
$66,791,111
$612,352
$430,341
JAZZ AT ASPEN-SNOWMASS
Aspen
$6,413,015
$6,434,650
$784,931
$1,208,886
$102,917
ASPEN COUNTRY DAY SCHOOL INC
Aspen
$5,251,379
$4,859,034
$13,037,115
$2,342,406
$285,838
ASPEN COMMUNITY FOUNDATION
Aspen
$4,482,143
$15,390,443
$32,756,804
$3,753,883
$130,000
ANDERSON RANCH ARTS FOUNDATION
Snowmass Village
$4,273,081
$3,264,520
$11,212,003
$162,368
$175,000
-
ASPEN SANTA FE BALLET
Aspen
$3,871,381
$3,593,187
$6,138,717
$51,937
$121,304
COMPASS FOR LIFELONG DISCOVERY
Woody Creek
$3,532,065
$3,569,464
$7,119,265
$3,310,167
$65,686
ASPEN VALLEY SKI-SNOWBOARD CLUB INC
Aspen
$3,319,612
$3,418,964
$1,181,098
$631,199
$139,792
LOW INCOME FAMILY ENRICHMENT CORPORATION/LIFE FOUNDATION
Aspen
$3,063,052
$2,947,417
$22,046,150
$25,499,449
$150,106
HOSPICE OF THE VALLEY INC
Basalt
$2,995,580
$3,006,736
$1,182,151
$304,965
$117,754
ASPEN VALLEY MEDICAL FOUNDATION LIMITED
Aspen
$2,955,641
$2,751,616
$10,296,426
$2,465,797
$245,164
ASPEN ART MUSEUM FOUNDATION
Aspen
$2,184,577
$1,793,751
$9,039,823
$2,000
-
-
MERCY & SHARING
Aspen
$2,043,548
$2,510,500
$2,225,122
$6,397
$0
ASPEN CENTER FOR ENVIRONMENTAL STUDIES
Aspen
$1,916,157
$1,318,570
$8,320,075
$85,420
$114,385
EARLY LEARNING CENTER INC
Aspen
$1,501,419
$1,526,271
$268,887
$63,082
-
CHALLENGE ASPEN
Snowmass Village
$1,401,708
$1,653,342
$2,505,415
$32,807
$265,310
TENTH MOUNTAIN DIVISION HUT ASSOCIATION INC
Aspen
$1,332,844
$1,157,849
$4,468,588
$1,146,661
$90,733
COMMUNITY OFFICE FOR RESOURCE EFFICIENCY (CORE)
Aspen
$1,144,135
$822,451
$2,181,623
$7,380
$84,975
THE BUDDY PROGRAM INC
Aspen
$1,131,528
$1,065,948
$1,621,407
$20,408
$143,400
ASPEN HISTORICAL SOCIETY
Aspen
$1,095,333
$1,092,713
$2,210,152
$40,948
$90,151
ROARING FORK PUBLIC RADIO INC/ KAJX-ASPEN PUBLIC RADIO
Aspen
$1,038,431
$1,003,279
$761,341
$119,916
$76,000
COMMUNITY HEALTH SERVICES INC
Aspen
$947,018
$956,442
$612,934
$53,710
$99,318
RIGHT DOOR INC
Aspen
$922,660
$983,866
$215,297
$1,047
$56,268
ASPEN GLOBAL CHANGE INSTITUTE INC
Basalt
$690,110
$769,305
$199,677
$3,248
$100,903
ECOFLIGHT
Aspen
$659,863
$551,677
$764,121
$8,820
$151,444
ASPENFILM
Aspen
$627,016
$727,282
$678,993
$57,371
$85,026
EXTREME SPORTS CAMP INC
Basalt
$595,395
$596,438
$149,894
$53,267
$69,606
ROARING FORK CONSERVANCY
Basalt
$594,304
$565,072
$2,271,698
$65,434
$64,000
ASPEN EDUCATION FOUNDATION
Aspen
$579,741
$548,865
$436,275
$17
-
TENTH MOUNTAIN ENDOWMENT FUND INC
Aspen
$575,191
$332,909
$5,262,685
$0
-
-
CHILDRENS HEALTH FOUNDATION
Aspen
$563,920
$693,403
$289,387
$4,852
$128,900
THRIFT SHOP INC
Aspen
$553,760
$736,223
$2,336,838
$17,050
-
GRASSROOTS TELEVISION INC
Aspen
$529,410
$507,029
$63,686
$10,729
$99,802
ALFRED A BRAUN HUT SYSTEM INC
Aspen
$521,936
$97,865
$1,515,219
$17,089
-
WILDWOOD SCHOOL INC
Aspen
$493,770
$488,235
$648,656
$73,902
-
ASPEN JUNIOR HOCKEY INC
Aspen
$483,468
$439,957
$662,485
$44,402
$60,000
ASPEN CAMP OF THE DEAF AND HARD OF HEARING
Snowmass
$475,638
$462,820
$1,458,337
$18,057
$40,000
TEAM RWANDA CYCLING
Aspen
$458,755
$290,464
$181,798
$0
-
PUBLIC COUNSEL OF THE ROCKIES
Aspen
$456,793
$306,671
$245,610
$0
$57,000
UNITED JEWISH APPEAL ASPEN VALLEY CAMPAIGN
Aspen
$441,125
$355,482
$136,445
$1,005
$0
PATHFINDERS
Aspen
$425,924
$281,923
$808,180
$95,413
-
SNOWMASS WESTERN HERITAGE ASSOCIATION
Snowmass Village
$412,513
$336,288
$100,462
$0
$15,000
ASPEN PITKIN EMPLOYEE HOUSING INC
Basalt
$381,313
$227,286
$1,426,438
$66,568
$0
-
HELP FOR SURVIVORS OF DOMESTIC VIOLENCE AND SEXUAL ASSUALT
Aspen
$372,117
$353,746
$194,474
$23,287
$58,574
-
LITTLE RED SCHOOLHOUSE EDUCATIONAL AND COMMUNITY CENTER INC
Snowmass Village
$340,640
$336,890
$142,329
$12,934
$53,819
ASPEN CENTER FOR ENVIRONMENTAL STUDIES ENDOWMENT FUND INC
Aspen
$330,168
$287,537
$6,070,008
$22,013
-
-
WYLY COMMUNITY ARTS
Basalt
$323,613
$278,542
$195,741
$7,180
$74,379
ROARING FORK GAY & LESBIAN COMMUNITY FUND
Aspen
$314,126
$295,545
$191,927
$898
$21,000
GROWING YEARS SCHOOL
Basalt
$310,531
$293,690
$107,746
$23,809
$45,571
FRIENDS OF THE ASPEN ANIMAL SHELTER
Aspen
$268,993
$230,677
$701,410
$10,786
$64,840
TRASHMASTERS INTERNATIONAL INC
Snowmass Village
$250,695
$242,769
$48,005
$4,440
-
ASPEN SCIENCE CENTER
Aspen
$238,734
$355,823
$107,851
$0
$127,500
NESHAMA CENTER
Aspen
$235,883
$163,048
$191,803
$0
$60,000
ROARING FORK OUTDOOR VOLUNTEERS
Basalt
$233,906
$229,180
$94,572
$8,185
$68,660
CHRIS KLUG FOUNDATION
Aspen
$228,931
$154,789
$242,978
$15,308
$43,000
AREI INC (AREDAY)
Aspen
$219,453
$206,271
$13,780
$598
$27,000
ASPEN SKIING COMPANY ENVIRONMENT FOUNDATION
Aspen
$203,481
$176,836
$77,631
$0
-
ASPEN HOMELESS SHELTER
Aspen
$198,271
$198,021
$480
$0
-
MOUNTAIN RESCUE ASPEN INC
Aspen
$196,701
$142,158
$752,597
$0
-
ENGLISH IN ACTION
Basalt
$174,044
$163,093
$71,614
$17,450
$47,206
ASPEN JOURNALISM
Aspen
$165,000
$70,388
$94,612
$0
$39,375
INDEPENDENCE PASS FOUNDATION
Aspen
$161,571
$236,903
$601,355
$0
$48,649
LES DAMES DASPEN LTD
Aspen
$151,552
$155,623
$138,845
$134,396
$26,072
RED BRICK COUNCIL FOR THE ARTS
Aspen
$150,639
$162,245
$58,352
$5,004
$64,119
VALLEY PARTNERSHIP FOR DRUG PREVENTION
Aspen
$148,173
$188,501
$106,700
$54,246
$73,530
BASALT THRIFT STORE
Basalt
$142,213
$141,540
$8,012
$0
-
-
ACHIEVE KIDS TRI INC
Aspen
$135,927
$126,395
$29,005
$15,697
-
ASPEN SWIM CLUB
Aspen
$132,077
$91,466
$77,574
$2,203
-
WORLD BRAIN FORUM FOUNDATION/ASPEN BRAIN FORUM
Aspen
$131,000
$178,626
$19,589
$0
-
ASPEN JUNIOR GOLF FOUNDATION INC
Aspen
$129,979
$104,009
$187,275
$0
$53,000
ROARING FORK CENTER FOR COMMUNITY LEADERSHIP
Aspen
$116,427
$114,313
$56,206
$5,165
$48,169
THEATRE MASTERS
Aspen
$116,185
$77,350
$208,213
$0
$0
WOODY CREEK COMMUNITY CENTER INC
Woody Creek
$112,409
$98,582
$112,133
$1,746
$44,000
COLORADO 500 CHARITY FUND
Basalt
$94,818
$121,984
$625,950
$1
$0
COMMON SENSE REGENERATION PROJECT
Aspen
$89,622
$60,016
$41,409
$522
$33,500
-
ASPEN COMMUNITY THEATRE
Aspen
$87,896
$96,998
$282,047
$0
-
ALPINE INITIATIVES
Aspen
$85,440
$29,095
$65,979
$0
$0
EARTHBEAT CHOIR INC
Aspen
$81,866
$90,596
$8,492
$0
-
-
ASPEN CHORAL SOCIETY
Aspen
$81,699
$90,829
$7,775
$4,694
$53,488
ASPEN UNITED SOCCER CLUB INC
Aspen
$65,617
$63,968
$6,858
$0
-
EXECUTIVE SERVICE CORPS INC
Aspen
$62,988
$60,407
$59,551
$0
$50,000
CENTRAL ROCKY MOUNTAIN PERMACULTURE INSTITUTE
Basalt
$61,402
$57,781
$78,215
$17,322
$11,717
BASALT EDUCATION FOUNDATION
Basalt
$56,602
$57,748
$11,207
$5,515
-
BUS FUND
Basalt
$54,796
$59,276
$104,908
$85,582
-
-
ASPEN STRATEGY CENTER
Aspen
$53,900
$49,231
$10,669
$6,000
$0
SAVING OUR STREAMS
Aspen
$51,200
$40,373
$11,613
$0
-
-
HIKE FOR HOPE FOUNDATION INC
Aspen
$50,845
$50,431
$62,697
$397
$0
DIGITAL ARTS FOUNDATION
Aspen
$45,600
$41,563
$39,877
$12,876
$0
-
BASALT REGIONAL HERITAGE SOCIETY
Basalt
$43,002
$47,349
$3,280
$0
-
WHEELER HOUSE OPERA HOUSE ASSOCIATION
Aspen
$41,543
$32,296
$326,767
$255
-
ASPEN VOLUNTEER FIRE DEPARTMENT INC
Aspen
$40,246
$25,666
$139,664
$541
-
ASPEN BOARD OF REALTORS BILL HELDMAN-STARK KING MEMORIAL SCHOLA
Basalt
$39,718
$76,276
$411,125
$0
-
-
PITKIN COUNTY AIR RESCUE GROUP INC
Aspen
$31,541
$30,670
$464,290
$0
-
-
OCEAN HEALING GROUP INC
Aspen
$31,045
$23,959
$19,972
$4,837
$0
FAT CITY FARMERS INC
Basalt
$30,636
$27,694
$3,167
$0
-
ASPEN WINTER SPORTS FOUNDATION INC
Aspen
$28,661
$105,698
$3,013,774
$80,489
-
WINDSTAR FOUNDATION
Snowmass
$25,980
$42,003
$42,714
$6,971
$0
ASPEN CANCER SURVIVOR CENTER
Aspen
$25,947
$33,212
$34,119
$0
$17,955
SNOWMASS VILLAGE COMMUNITY FUND INC
Snowmass Village
$25,436
$15,334
$53,814
$0
-
-
GRASSROOTS ASIA
Snowmass Village
$22,873
$111,828
$24,003
$26,036
$0
TOMORROWS VOICES
Aspen
$19,437
$33,157
$209
$0
-
WORLD HISTORY CONNECTED THE JOURNAL OF LEARNING AND TEACHING
Aspen
$15,014
$4,088
$32,768
$0
-
SNOWMASS-CAPITOL CREEK CAUCUS
Snowmass
$15,000
$90,160
$3,802
$0
-
CLIMB FOR CONSERVATION INC
Aspen
$1,675
$884
$790
$0
-
INTERNATIONAL FLAMINGO FOUNDATION
Aspen
$1,607
$1,696
$55,021
$6,039
$0
FRIENDS OF THE ASPEN SPORTS AND RECREATION COMPLEX (SPARC)
Aspen
$1,000
$7,969
$114,936
$0
-
-
AMERICAN LEAGUE FOR EFFECTIVERESPONSES TO TERRORISM
Snowmass
$0
$1
$2,473
$0
$0
-
F A I R
Aspen
$0
$0
$5,566
$0
-
-
INTERNATIONAL FIELD STUDIES MICH IN
Basalt
$0
$10
$432
$0
-
-
The Andersen Ranch Arts Center is one of the valley's top nonprofit organizations.
Parsing the nonprofit data
Of the 112 upper valley nonprofits we examined, about one-fifth of them (23) had both revenues and expenses topping $1 million in 2011. Two — the Aspen Art Museum and Rocky Mountain Institute — brought in more than $10 million. Rounding out the top five nonprofits with the highest revenue were the Music Associates of Aspen ($7.7 million), Jazz Aspen Snowmass ($6.4 million), and Aspen Country Day School ($5.3 million).
Had it been included in our analysis, the Aspen Institute would have been by far the No. 1 nonprofit in revenue generation, bringing in $73 million in 2011. But the Aspen-born policy studies organization is headquartered in the Washington, D.C., area and has programs all over the world. While it undoubtedly has a major presence here, the publicly available data does not allow us to determine what part of its budget is allocated to Aspen programming and operations. Without a way to roughly estimate its local economic impact, we decided to leave the Aspen Institute off the list.
The list of nonprofits with over $1 million in annual revenue is mostly a familiar one. It includes several arts and cultural organizations, such as Aspen Santa Fe Ballet ($3.9 million); educational institutions like the Early Learning Center in the Yellow Brick building in Aspen ($1.5 million); and those with a green bent, like the Aspen Center for Environmental Studies ($1.9 million).
Social programming is represented in this top tier by The Buddy Program ($1.1 million), which pairs adult mentors with youth in the Roaring Fork Valley. Aspen Community Foundation ($4.5 million), the major local grantmaking organization, is within the top 10. And a media organization, Aspen Public Radio ($1 million), rounds out the top 23 highest revenue-producing organizations of 2011.
One virtual unknown, the Aspen-based Low Income Family Enrichment (LIFE) Foundation, is the 11th highest grossing nonprofit based in the upper valley, with about $3 million in revenue and expenses for 2011.
Led by executive director Barnett Davis II, the LIFE Foundation buys and develops commercial real estate, which it then leases to government agencies or other nonprofits at a reduced cost, using the proceeds and savings to fund charitable programs and social services. LIFE has done most of its work thus far in California, but is looking for programs in Colorado, said Davis, who has a home in Snowmass Village.
About 50 of the nonprofits had revenue in the six figures in 2011, from the $112,400 reported by the Woody Creek Community Center to $947,000 brought in by Community Health Services. Another 33 or so had less than $100,000 in revenue, and three reported no income: FAIR, International Field Studies Michigan Inc., and the American League for Effective Responses to Terrorism.
Most of the local organizations’ expenses were in line with their revenue, although half of the top 20 revenue-producing nonprofits spent more than they received in 2011. That wasn’t so unusual during the Great Recession, according to the Urban Institute, whose Nonprofit Almanac of 2012 found that “nonprofits are spending more than they are able to generate and have had surplus funds in only two of the past 10 years.”
Total assets range from the $66.8 million reported by the Aspen Music Festival and School — most of which is property and investments — to $209 in “cash, savings, and investments” reported by Tomorrow’s Voices, a civic education program for youth. Eight upper valley nonprofits reported more than $10 million in assets in 2011, but only one — the LIFE Foundation — had that much in liabilities. Most of the $25.5 million LIFE had in liabilities were in “tax-exempt bond liabilities,” according to its Form 990.
It should be noted that Aspen Journalism is included on the list of the upper valley nonprofits. The investigative news organization was 63rd out of 111 in terms of revenue in 2011, bringing in $165,000. It had over $70,000 in expenses, almost $95,000 in assets, and no liabilities.
Brent Gardner-Smith / Aspen Journalism
The office building currently used by most of the local employees of the Rocky Mountain Institute.
Executive compensation
Nonprofit executive salaries sometimes make news, and for good reason. The Roaring Fork River valley has its share of relatively well-compensated executives — 19 heads of nonprofits made over $100,000 in 2011. Of those, two had compensation packages in excess of half-a-million dollars, and have earned media scrutiny for it.
The upper valley’s most highly compensated nonprofit executive in 2011 was the Aspen Art Museum’s Heidi Zuckerman Jacobson, who earned $645,000 as CEO, director, and chief curator. Zuckerman Jacobson, whose position has since become permanently endowed, was one of four local nonprofit executives whose compensation packages had increased by six figures in the mid-2000s, according to an Aspen Times article in September 2012.
Second on the list was Martha Pickett, executive director of Rocky Mountain Institute. Pickett’s $621,000 compensation package was the focus of an October 2013 story by Aspen Public Radio. APR reported that the Old Snowmass-based energy think tank paid its top executive more than any other similar nonprofit in the country. RMI, a 75-employee organization that also has an office in Boulder, had 12 six-figure staffers in 2011, according to the organization’s Form 990.
Had the Aspen Institute been included in our review, CEO Walter Isaacson would have topped the pay list for local executives with his $841,500 compensation package in 2011.
Note that the executive directors or CEOs shown in the table below are the ones listed by the organization on the relevant Form 990 — some executives are no longer with an organization. The "$0" indicate the executive director receives no salary. A dash indicates the organization did not provide data regarding executive compensation.
NONPROFIT
LOCATION
EXECUTIVE DIRECTOR (AS REPORTED)
EXECUTIVE DIRECTOR PAY
PAY AS % OF REVENUE
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