Neighborhood Studios Of Fairfield County Inc
- Assets
- $354.8k
- Revenue
- $613.1k
- Investments
- $0.0
- Employees
- 61
- Location
- Bridgeport, CT
- Founding
- 04/1979
- Data as of
- 08/2021
- EIN
- 06-0993269
Organization Overview
Neighborhood Studios Of Fairfield County Inc is located in Bridgeport, CT. 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 08/2021, Neighborhood Studios Of Fairfield County Inc employed 61 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Neighborhood Studios Of Fairfield County 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 08/2021, Neighborhood Studios Of Fairfield County Inc generated $613.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.9%) each year. All expenses for the organization totaled $636.0k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
NEIGHBORHOOD STUDIOS TRANSFORMS THE LIVES OF BRIDGEPORT CHILDREN THROUGH ARTS EDUCATION AND EMPOWERS THEM TO MAKE A DIFFERENCE IN THEIR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIGHTHOUSE: NSFC WORKS IN COLLABORATION WITH THE LIGHTHOUSE PROGRAM, AN INNOVATIVE SCHOOL/ COMMUNITY EFFORT IN THE CITY OF BRIDGEPORT, CT TO PROVIDE ARTS ENRICHMENT IN DANCE/ CREATIVE MOVEMENT, ART THEATER, STEEL DRUMMING AND CHORUS INSTRUCTION IN AFTER SCHOOL CLASSES.
CONSERVATORY: THE CONSERVATORY PROGRAM IS FOR TEENS WHO ARE SERIOUS ABOUT THE VISUAL ARTS, MEDIA, MUSIC, THEATER AND DANCE. OPEN TO YOUTHS AGES 13-18 IN BRIDGEPORT, CT AND SURROUNDING TOWNS, THE PROGRAM PROVIDES INTERMEDIATE AND ADVANCED INSTRUCTION FOR VARIOUS ART DISCIPLINES.
NATIONAL RESOURCE CENTER - NATIONAL CLEARINGHOUSE FOR INFORMATION REGARDING BRAILLE MUSIC AND GENERAL MUSIC EDUCTION RESOURCES FOR INDIVIDUALS WITH VISION IMPAIRMENTS.
OTHER PROGRAM SERVICES REPRESENT VARIOUS MUSIC, ART, THEATER AND DANCE INSTRUCTIONAL PROGRAMS PROVIDED TO CHILDREN IN THE COMMUNITIES WE SERVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank Derico Executive Director | Officer | 40 | $61,023 |
Andrew Hart Vice-Chair | OfficerTrustee | 1 | $0 |
Rita Appel Chair | OfficerTrustee | 10 | $0 |
Laurie Gross Secretary | OfficerTrustee | 1 | $0 |
Michael Loeb Treasurer | OfficerTrustee | 1 | $0 |
David Hart Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $132,705 |
| All other contributions, gifts, grants, and similar amounts not included above | $223,791 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $356,496 |
| Total Program Service Revenue | $249,330 |
| Investment income | $7,273 |
| 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 | $613,099 |
| 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. | $82,404 |
| Compensation of current officers, directors, key employees. | $32,962 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $274,169 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $31,004 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,358 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,800 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,571 |
| Office expenses | $25,165 |
| Information technology | $1,234 |
| Royalties | $0 |
| Occupancy | $67,909 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,871 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,627 |
| Insurance | $11,753 |
| All other expenses | $28,309 |
| Total functional expenses | $636,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $121,538 |
| Savings and temporary cash investments | $109,950 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,514 |
| 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 | $4,418 |
| Net Land, buildings, and equipment | $4,330 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,086 |
| Total assets | $354,836 |
| Accounts payable and accrued expenses | $403,203 |
| 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 | $114,620 |
| Unsecured mortgages and notes payable | $272,397 |
| Other liabilities | $0 |
| Total liabilities | $790,220 |
| Net assets without donor restrictions | -$439,872 |
| Net assets with donor restrictions | $4,488 |
| 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 | $354,836 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Neighborhood Studios Of Fairfield County Inc has recieved totaling $142,431.
| Awarding Organization | Amount |
|---|---|
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $45,900 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $25,201 |
Jewish Foundation Of Greater New Haven Inc Woodbridge, CT PURPOSE: CHARITABLE DISTRIBUTION FROM DONOR ADVISED FUND | $15,100 |
Eugene G & Margaret M Blackford Memorial Fund B Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $10,000 |
New England Foundation For The Arts Inc Boston, MA PURPOSE: GENERAL OPERATING, CREATION AND/OR PRESENTING SUPPORT | $10,000 |
Young Mens Christian Assn Westport Westport, CT PURPOSE: The Bedford Family Social Responsibility Fund supports organizations that provide direct or supplemental educational opportunities. | $7,500 |
Endowment Analysis
| Beg. Balance | $31,515 |
| Earnings | $7,273 |
| Admin Expense | $752 |
| Ending Balance | $38,036 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattan School Of Music New York, NY | $110,734,113 | $63,876,459 |
Art Students League Of New York New York, NY | $112,886,191 | $14,274,262 |
Saul Steinberg Foundation New York, NY | $2,326,445 | $165,696 |
Studio In A School Association New York, NY | $26,491,871 | $6,228,421 |
Harlem School Of The Arts Inc New York, NY | $16,306,795 | $5,380,840 |
Dreamyard Project Inc Bronx, NY | $4,474,380 | $5,509,637 |
Powerhouse Arts Inc Brooklyn, NY | $187,718,007 | $2,438,930 |
Artists For Humanity Inc Boston, MA | $38,813,967 | $6,181,666 |
American Academy Of Arts And Letters New York, NY | $101,076,393 | $10,417,737 |
The Arts Connection Inc New York, NY | $2,703,336 | $4,972,330 |
Alliance For Young Artists & Writers Inc New York, NY | $7,496,330 | $3,366,982 |
Marquis Studios Ltd Brooklyn, NY | $2,435,475 | $3,259,805 |