The National Opera House (NOH) is a nonprofit organization based out of Pittsburgh, PA. Our primary mission is to preserve the arts, culture, and music in underserved communities. We welcome you to join us on this journey.
While music, dance and design are some of the more obvious skills developed in opera, some more elusive ones include communication, listening, creative problem solving, empathy, confidence and resourcefulness. Opera is also a prime model for collaboration, with each artist working in a particular discipline toward a common goal, envisioning worlds and bringing them into reality.
At Artskeeping, an artist is defined as a person who has superior skills or ability to create. We see artists as entrepreneurs who want to spend their energy creating and contributing to the world. Artskeeping was developed through research that conveyed one simple fact, artists don’t love numbers. This solution allows artists to grow their brand and business by providing real-time bookkeeping, financial reports, and conversational reporting to the artist.
Vision: Abstract. An automated workflow and process that requires no human, manual processes or data entry, reporting, reconciliation or auditing. The automation process will be executed with the inbound or outbound Financial cash flow activity. Each transaction will be verified, audited and validated through the network and secured with cryptography. All financial data will adhere to compliance based on rules, laws, regulations and guidance and will be governed by the law. Compliance will also be mapped to jurisdiction and business operations.
Analysis and conversational language reporting will be applied to data to generate GAAP and non-GAAP standard financial reports, business operation reports, analytical reports and decision making reports. Data will display on a user customized, understandable dashboard that displays real time information.
Mission: The mission of Artskeeping is to provide access to financial literacy, wealth building and value creation for artists.
Problem: Currently, there are over twenty million artists in the world. They do not have a financial solution that provides an efficient business process and workflow and in many cases, what is provided is manual. Artists have to repeat processes and efforts in their accounting system that create incorrect, error prone data. Artists do not have access to financial reporting on their business and when they do, the reports are aged. This results in incorrect analysis based on incorrect or old data. We found that 100% of the artists we surveyed are treated as independent contracted workers and often suffer from delayed payments and in some cases, not being paid at all. The artists do not properly track their Accounts payable and accounts receivable and rarely know how to treat grant funding, when received. We discovered that most artists don’t know how to govern their books and financial life and many have undocumented policies and procedures. If the artist works with other artists, this process is conducted under the table of in other manners that are out of compliance. As a result of these problems, artists don’t know their value and have a hard time determining their value. Resources are lost and in some cases opportunities to build a great brand and business are missed.
Solution: Artskeeping has developed a financial solution that uses technology to automate and communicate the accounting and back office process for the artist. We develop a curated process, policy and procedure document for each artist based on their creative style set. We take this guideline of controls to create an automated workflow. Our process certifies that all parts of the operations are compliant and efficient. This workflow is then used to create the automated data entry process for the artist. The data is entered, audited and reconciled before financial reports are generated. Our intelligent technology has a built in verification process that operates in real time through peer to peer communication. The data is mapped to the curated, compliant chart of accounts based on the entity type and the industry code. Once complete, reports are generated with an easy to read dashboard that displays the metrics and conversational financial language reporting. The system is audited for business process optimization annually before the year end tax file is prepared.
Artskeeping is unique because it is built for artists. Artists are provided with a decision tool conveniently on the dashboard that allows the system to serve as a financial educator and virtual accountant. The artists now have the resources to create and grow their business simultaneously.
Implementing an automated process starts with planning. Planning fosters clean, consistent data. Artskeeping revolutionizes the accounting and business workflow by eliminating manual processes creating a new customer experience. Artskeeping creates and implements each process as follows:
- Create and collect the client TAX ID number
- Register artist business entity and/or validate and verify current entity
- Checklist Assessment
- TEAM: Roles and Responsibilities Developed and mapped
- Implement Chart of account (COA): based on Entity type and NAICS with needed customization
- Map COA to Financial Statement Reporting
- Automate reporting criteria
- Map COA to Tax line for Tax planning and strategy by entity
- Implement accounting policies, procedures and process: APPP
- Map COA to APPP
- Implement standard guidelines and customize by industry and entity type
- Apply company and system controls and control warnings
- Implement key process ID/control number (related to the COA)
- Develop and automate Processes (digitization)
- Develop and automate procedures and integrate with Policies
- Develop and automate company guidelines
- Develop and automate compliance (internal and external) and compliance reports
- Develop and implement workflow compliance
- Customize Dashboard
- Develop Data Management Plan (Dataflow)
- Asset management (asset bank)
- Asset Storage
- Display data with related ratios as a decision tool
- Cash on hand
- Retained Earnings
The artist is now ready to see, understand and make decisions about their brand and business.
The mission of the National Opera House is to restore and maintain the historic house at 7101 Apple Street in Pittsburgh PA. Through this preservation we continue a legacy of creative excellence that nurtures talent and widens access to opportunities.
Our values are:
Equity ensures everyone in a community has access to the same opportunities, resources, and outcomes regardless of their perceived “place” in society.
Transparency We are accountable for our actions and conduct ourselves through open communication, business practices authenticity.
Community Is the shared sense of belonging based on mutual goals, values, interests and location. Our community is ever expanding and evolving.
Education Is a tool that allows us to observe, understand, reason, act and succeed.
To achieve our missions and values we are committed to providing artskeeping to all professional artists because we see this as a way to educate and build the community. Artists who can sustain their lives will make the world a better, more creative place.
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