Ifetayo Cultural Arts Academy Inc
- Assets
- $3.6m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 41
- Location
- Brooklyn, NY
- Founding
- 06/1992
- Data as of
- 08/2023
- EIN
- 11-3027538
Organization Overview
Ifetayo Cultural Arts Academy Inc is located in Brooklyn, NY. The organization was established in 1992. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2023, Ifetayo Cultural Arts Academy Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ifetayo Cultural Arts Academy 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 08/2023, Ifetayo Cultural Arts Academy Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.1m during the year ending 08/2023. While expenses have increased by 1.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
CULTURAL ARTS PROGRAM: CAP OFFERS SEQUENTIAL, WEEKLY ARTS CLASSES IN MULTIPLE DISCIPLINES TOYOUTH AGES 2-18 AND ADULTS. CAP PROVIDED HIGH-LEVEL TRAINING IN DANCE, MUSIC, VISUAL ARTS,THEATER, CREATIVE EXPRESSION/POETRY AND MARTIAL ARTS TO STUDENTS IN LEVELS FROM BEGINNER TOPRE-PROFESSIONAL.
RITES OF PASSAGE PROGRAMS: SISTERS IN SISTERHOOD AND I AM MY BROTHER IS A YEAR-ROUND AFTER SCHOOLPROGRAM THAT EMPOWERS YOUTH AGES 8-19 TO ADVANCE THEIR INTELLECTUAL AND EMOTIONAL SKILLS INPREPARATION FOR GROWTH INTO INDEPENDENT, COMPASSIONATE, SELF-CONFIDENT LEADERS. RITES OFFERSTRAINING AND INSTRUCTION THAT INCLUDES DEVELOPMENT OF PERSONAL SKILLS COLLEGE AND CAREERCOUNSELING SERVICES FAMILY MEETINGS AND HOME VISITS. FINANCIAL EDUCATION INSTITUTE FEI ANDINDIVIDUAL DEVELOPMENT ACCOUNTS PROGRAM IDA PROVIDES CRUCIAL FINANCIAL EDUCATION WORKSHOPS ANDCOLLEGE SAVINGS ACCOUNTS FOR STUDENTS BEGINNING AT AGE 8 THROUGH GRADUATION FROM COLLEGE.
THE IFETAYO YOUTH ENSEMBLE: IYE IS A PREPARATORY PROFESSIONAL PERFORMANCE ENSEMBLEFOR YOUTH AGES 12-19, WHICH WORKS RIGOROUSLY THROUGH TRAINING AND REHEARSAL TOPRODUCE ORIGINAL WORKS ABOUT SOCIAL ISSUES THAT AFFECT THEIR COMMUNITIES.MARCUS GARVEY CULTURAL HERITAGE PROGRAM: MGCHP PROVIDES HISTORICAL AND CULTURALINSTRUCTION THAT FOCUSES ON AFRICA AND THE AFRICAN DIASPORA FOR STUDENTS, AGES 6-18,AND THEIR PARENTS. THIS PROGRAM INCLUDES AN INTERNATIONAL CONFERENCE AND TOURCOMPONENT WHERE YOUTH AND PARTICIPANTS TRAVEL AND EXPERIENCE CULTURES WITHIN THEDIASPORA.FINANCIAL EDUCATION INSTITUTE/IDA
IN SCHOOL PROGRAM: ISP PROVIDES SEQUENTIAL, WEEKLY IN-SCHOOL AND AFTERSCHOOL ARTS EDUCATION ANDYOUTH DEVELOPMENT PROGRAMMING TO PUBLIC, CHARTER AND PRIVATE SCHOOLS IN NEW YORK CITY.DISCIPLINES IN FY22 INCLUDED VISUAL ARTS DIGITAL PHOTOGRAPHY, JEWELRY MAKING, PAINTING &SKETCHING, DANCE AFRICAN, HIP HOP, MODERN, MUSIC AFRICAN DRUM, GUITAR, MUSIC THEORY AND AUDIOPRODUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Naima Oyo Executive Director | OfficerTrustee | 0 | $130,757 |
Kawana King Member | Trustee | 0 | $0 |
Kathleen Ettienne Member | Trustee | 0 | $0 |
Benjamin Talton Member | Trustee | 0 | $0 |
David Land Member | Trustee | 0 | $0 |
Keith Carr Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $531,721 |
| All other contributions, gifts, grants, and similar amounts not included above | $358,128 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $889,849 |
| Total Program Service Revenue | $147,550 |
| Investment income | $0 |
| 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 | $1,129,926 |
| 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. | $130,718 |
| Compensation of current officers, directors, key employees. | $7,717 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $411,172 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $60,427 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $66,124 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $84,457 |
| Advertising and promotion | $332 |
| Office expenses | $13,028 |
| Information technology | $29,900 |
| Royalties | $0 |
| Occupancy | $141,206 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,322 |
| Interest | $5,134 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,304 |
| Insurance | $31,972 |
| All other expenses | $9,160 |
| Total functional expenses | $1,098,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,794 |
| Savings and temporary cash investments | $1,556 |
| Pledges and grants receivable | $668,070 |
| Accounts receivable, net | $116,521 |
| 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 | $6,694 |
| Net Land, buildings, and equipment | $756,496 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,751,379 |
| Other assets | $18,208 |
| Total assets | $3,616,718 |
| Accounts payable and accrued expenses | $178,327 |
| Grants payable | $0 |
| Deferred revenue | $45,000 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $104,458 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $269,703 |
| Other liabilities | $1,753,510 |
| Total liabilities | $2,350,998 |
| Net assets without donor restrictions | $710,720 |
| Net assets with donor restrictions | $555,000 |
| 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 | $3,616,718 |