Canopy Studio Inc
- Assets
- $638.2k
- Revenue
- $696.5k
- Investments
- $42.8k
- Employees
- 37
- Location
- Athens, GA
- Founding
- 03/2003
- Data as of
- 12/2021
- EIN
- 04-3601205
Organization Overview
Canopy Studio Inc is located in Athens, GA. The organization was established in 2003. According to its NTEE Classification (A62) the organization is classified as: Dance, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Canopy Studio Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Canopy Studio 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 12/2021, Canopy Studio Inc generated $696.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $473.6k during the year ending 12/2021. While expenses have increased by 3.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
CANOPY STUDIO, A NON-PROFIT COMMUNITY ARTS CENTER, IS DEDICATED TO ENRICHING THE CULTURE OF OUR COMMUNITY AND THE LIVES OF INDIVIDUALS THROUGH AERIAL DANCE, MOVEMENT EDUCATION AND PERFORMANCE ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CANOPY SERVED 815 STUDENTS BY PROVIDING A TOTAL OF 352 CLASSES, 7 MINI-CAMPS, 2 PARTIAL WEEKS OF WINTER CAMPS AND 10 WEEKS OF SUMMER CAMPS. THE ORGANIZATION ALSO FACILITATED 9 OUTREACH PROGRAM COLLABORATIONS AND 1 FUNDRAISING EVENT. CANOPY HOSTED 2 VISITING ARTISTS' PERFORMANCES AND WORKSHOPS. CANOPY HAS SUBSTANTIALLY RECOVERED FROM THE LOSS OF BUSINESS DURING THE PANDEMIC, THOUGH THE NUMBER OF FINANCIAL AID AND SPECIAL NEEDS SCHOLARSHIP APPLICATIONS WE RECEIVED FOR OUR OUTREACH PROGRAM HAD NOT RETURNED TO ITS HIGHPOINT IN WINTER 2020. NEVERTHELESS, THERE WAS A STEADY INCREASE IN APPLICATIONS EACH SESSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Smith Secretary | Trustee | 0.25 | $0 |
Sam Drennen Board Member | Trustee | 1 | $0 |
Sally Speed Board Member | Trustee | 1 | $0 |
Kevin Bates Past President | Trustee | 1 | $0 |
Paige Otwell Board Member | Trustee | 0.5 | $0 |
Alicia Nickles Vice President | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $80,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $85,268 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $166,068 |
| Total Program Service Revenue | $533,871 |
| Investment income | $816 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$95 |
| Net Income from Fundraising Events | -$4,199 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $696,461 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $286,769 |
| Pension plan accruals and contributions | $4,474 |
| Other employee benefits | $8,334 |
| Payroll taxes | $22,314 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,288 |
| Office expenses | $753 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $56,121 |
| Travel | $90 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,600 |
| Insurance | $21,788 |
| All other expenses | $12,190 |
| Total functional expenses | $473,575 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $116,946 |
| Savings and temporary cash investments | $285,689 |
| 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 | $0 |
| Net Land, buildings, and equipment | $192,733 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $42,831 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $638,199 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,868 |
| Total liabilities | $7,868 |
| Net assets without donor restrictions | $620,331 |
| Net assets with donor restrictions | $10,000 |
| 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 | $638,199 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Canopy Studio Inc has recieved totaling $10,886.
| Awarding Organization | Amount |
|---|---|
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $10,846 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
Endowment Analysis
| Beg. Balance | $28,672 |
| Earnings | $4,193 |
| Admin Expense | $328 |
| Ending Balance | $34,066 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Charlotte Ballet Charlotte, NC | $20,235,608 | $4,763,253 |
American Dance Festival Inc Durham, NC | $15,847,262 | $2,712,778 |
Collage Dance Collective Inc Memphis, TN | $12,261,946 | $4,794,210 |
New Ballet Ensemble Memphis, TN | $2,810,421 | $1,613,011 |
Miami Dance Project Inc Miami, FL | $244,845 | $1,001,532 |
Several Dancers Core Inc Decatur, GA | $510,518 | $925,008 |
Broadway Dreams Foundation Corporation Alpharetta, GA | $370,059 | $1,061,609 |
Ballet Spartanburg Inc Spartanburg, SC | $819,790 | $819,483 |
Dance Alive Inc Gainesville, FL | $122,284 | $818,209 |
Dancefx Athens, GA | $335,029 | $831,128 |
The Sarasota Cuban Ballet School Inc Sarasota, FL | $335,930 | $925,973 |
Chattanooga Ballet Inc Chattanooga, TN | $572,721 | $813,307 |