Chicago Academy For The Arts
- Assets
- $3.2m
- Revenue
- $6.3m
- Investments
- $0.0
- Employees
- 99
- Location
- Chicago, IL
- Founding
- 01/1981
- Data as of
- 06/2021
- EIN
- 36-3084905
Organization Overview
Chicago Academy For The Arts is located in Chicago, IL. The organization was established in 1981. 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 06/2021, Chicago Academy For The Arts employed 99 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Academy For The Arts 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 06/2021, Chicago Academy For The Arts generated $6.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $5.5m during the year ending 06/2021. While expenses have increased by 3.0% per year over the past 6 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
THE CHICAGO ACADEMY FOR THE ARTS TRANSFORMS EMERGING ARTISTS THROUGH A CURRICULUM AND CULTURE WHICH CONNECT INTELLECTUAL CURIOSITY, CRITICAL THINKING, AND CREATIVITY TO IMPART THE SKILLS TO LEAD AND COLLABORATE ACROSS DIVERSE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY OPERATES A PRIVATE HIGH SCHOOL IN CHICAGO, ILLINOIS OFFERING COLLEGE-PREPARATORY ACADEMIC CLASSES AND PRE-PROFESSIONAL ARTS TRAINING CLASSES IN DANCE, MEDIA ARTS (FILMMAKING, CREATIVE WRITING, ANIMATION), MUSIC, MUSICAL THEATRE, THEATRE, AND VISUAL ARTS (PAINTING, DRAWING, SCULPTURE).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Patera Head Of School | Officer | 40 | $140,330 |
Krista Linn Treasurer | OfficerTrustee | 1 | $0 |
Michael Finnerty Chair | OfficerTrustee | 1 | $0 |
Levoyd Robinson Immediate Past Chair | OfficerTrustee | 1 | $0 |
Jason Kalajainen Secretary | OfficerTrustee | 1 | $0 |
Barbara Atkins Ruhman Honorary Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $273,344 |
| Related organizations | $0 |
| Government grants | $881,202 |
| All other contributions, gifts, grants, and similar amounts not included above | $448,338 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,602,884 |
| Total Program Service Revenue | $4,604,496 |
| Investment income | $22,602 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $55,189 |
| Net Income from Fundraising Events | -$29,962 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,255,209 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,275,056 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $174,973 |
| Compensation of current officers, directors, key employees. | $34,994 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,482,186 |
| Pension plan accruals and contributions | $43,439 |
| Other employee benefits | $127,751 |
| Payroll taxes | $189,752 |
| Fees for services: Management | $300 |
| Fees for services: Legal | $4,516 |
| Fees for services: Accounting | $31,731 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,116 |
| Fees for services: Other | $67,689 |
| Advertising and promotion | $39,854 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $449,916 |
| 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 | $88,883 |
| Insurance | $53,319 |
| All other expenses | $151,122 |
| Total functional expenses | $5,548,555 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $938,221 |
| Savings and temporary cash investments | $84,247 |
| Pledges and grants receivable | $361,948 |
| Accounts receivable, net | $63,772 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,459 |
| Prepaid expenses and deferred charges | $74,493 |
| Net Land, buildings, and equipment | $364,174 |
| Investments—publicly traded securities | $1,219,604 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,550 |
| Total assets | $3,169,468 |
| Accounts payable and accrued expenses | $195,126 |
| Grants payable | $0 |
| Deferred revenue | $234,334 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $55,800 |
| Total liabilities | $635,260 |
| Net assets without donor restrictions | $1,542,716 |
| Net assets with donor restrictions | $991,492 |
| 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 | $3,169,468 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Chicago Academy For The Arts has recieved totaling $264,227.
| Awarding Organization | Amount |
|---|---|
T Kendall Hunt Family Foundation Inc Oak Park, IL PURPOSE: EDUCATIONAL AND CHARITABLE PURPOSES | $157,135 |
John Hart Foundation Chicago, IL PURPOSE: CHARITABLE | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $35,850 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,427 |
Dan J Epstein Family Foundation Chicago, IL PURPOSE: TO FURTHER THE CHARITABLE WORKS OF THE ORGANIZATION. | $5,000 |
Bayless Family Foundation Chicago, IL PURPOSE: TO PROMOTE, ENCOURAGE, AND SUPPORT THE EXPRESSION OR APPLICATION OF HUMAN CREATIVE SKILL AND IMAGINATION THROUGH ALL FORMS OF THE ARTS, INCLUDING LITERATURE, PERFORMING ARTS, VISUAL ARTS, MEDIA ARTS, AND CULINARY ARTS. | $5,000 |
Endowment Analysis
| Beg. Balance | $620,111 |
| Earnings | $122,205 |
| Net Contributions | $200 |
| Grants | $159,737 |
| Ending Balance | $582,779 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Music Institute Of Chicago Evanston, IL | $11,276,124 | $7,011,364 |
Chicago Academy For The Arts Chicago, IL | $3,169,468 | $6,255,209 |
Frazier Academy Design Team Inc Chicago, IL | $0 | $3,133,368 |
Indianapolis Art Center Inc Indianapolis, IN | $17,635,206 | $3,948,601 |
Ingenuity Incorporated Chicago Chicago, IL | $7,892,105 | $6,208,550 |
Marwen Foundation Chicago, IL | $21,640,226 | $2,262,448 |
Urban Gateways Chicago, IL | $1,900,361 | $2,567,092 |
Indiana State School Music Association Inc Indianapolis, IN | $1,923,240 | $2,914,497 |
Wisconsin Foundaton For Educational Administration Inc Madison, WI | $1,928,269 | $1,830,497 |
Evanston Art Center And Market Evanston, IL | $5,253,080 | $1,872,951 |
Arts Of Life Chicago, IL | $862,987 | $1,651,270 |
Appalachian Artisan Center Of Kentucky Inc Hindman, KY | $4,477,331 | $761,854 |