Creative Arts For Kids Inc
- Assets
- $175.2k
- Revenue
- $267.9k
- Investments
- $0.0
- Employees
- 14
- Location
- Reading, MA
- Founding
- 05/1979
- Data as of
- 05/2024
- EIN
- 04-2623711
Organization Overview
Creative Arts For Kids Inc is located in Reading, MA. The organization was established in 1979. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 05/2024, Creative Arts For Kids Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Creative Arts For Kids Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2024, Creative Arts For Kids Inc generated $267.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $261.8k during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (3.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
FOSTERING A PASSION FOR THE ARTS BY PROVIDING EXCEPTIONAL INSTRUCTION IN VISUAL AND PERFORMING ARTS TO A DIVERSE POPULATION OF STUDENTS. BY OFFERING OPPORTUNITIES FOR INNOVATIVE LEARNING, PERFORMANCE AND FUN, CREATIVE ARTS AND ITS DEDICATED STAFF STRIVE TO INSTALL A LIFE-LONG DESIRE FOR CREATIVE EXPRESSION. WE SEEK TO INSPIRE, ENRICH AND CONNECT INDIVIDUALS WITHIN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE MUSIC, ART AND THEATER LESSONS AND PROGRAMS TO MORE THAN 500 STUDENTS AT OUR MAIN LOCATION AND AT VARIOUS OUTREACH LOCATIONS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Lannon President/di | OfficerTrustee | 2 | $0 |
Julie Aylward Treasurer/di | OfficerTrustee | 2 | $0 |
Kevin Walsh Secretary/di | OfficerTrustee | 2 | $0 |
Lindsay Baker Director | Trustee | 2 | $0 |
Anna Bruce Director | Trustee | 2 | $0 |
Blair Howell Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $15,954 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,954 |
| Total Program Service Revenue | $248,417 |
| Investment income | $3,103 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $267,885 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $50,170 |
| Compensation of current officers, directors, key employees. | $50,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,364 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,468 |
| Payroll taxes | $12,571 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,985 |
| Advertising and promotion | $50 |
| Office expenses | $2,152 |
| Information technology | $4,793 |
| Royalties | $0 |
| Occupancy | $24,540 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $200 |
| Insurance | $4,495 |
| All other expenses | $0 |
| Total functional expenses | $261,833 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,934 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,355 |
| Net Land, buildings, and equipment | $1,800 |
| Investments—publicly traded securities | $133,071 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,000 |
| Total assets | $175,160 |
| Accounts payable and accrued expenses | $26,829 |
| Grants payable | $0 |
| Deferred revenue | $50,712 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $10,000 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $87,541 |
| Net assets without donor restrictions | -$51,601 |
| Net assets with donor restrictions | $139,220 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $175,160 |