Bright Invention Inc
- Assets
- $0.0
- Revenue
- $72.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Philadelphia, PA
- Founding
- 06/2012
- Data as of
- 06/2023
- EIN
- 45-2555243
Organization Overview
Bright Invention Inc is located in Philadelphia, PA. The organization was established in 2012. According to its NTEE Classification (A65) the organization is classified as: Theater, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Bright Invention Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bright Invention 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 06/2023, Bright Invention Inc generated $72.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (26.1%) each year. All expenses for the organization totaled $121.0k during the year ending 06/2023. 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
BRIGHT INVENTION, INC. USES IMPROVISATION TO EMPOWER INDIVIDUALS AND ORGANIZATIONS TO UNLOCK THEIR POTENTIAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BRIGHT INVENTION ENSEMBLE: BRIGHT INVENTION'S' IN-HOUSE LONG-FORM IMPROV ACTING ENSEMBLE MADE UP OF ACTORS FROM THE GREATER PHILADELPHIA AREA. IT'S MEMBERS NOT ONLY PARTICIPATE IN STAND-ALONE PERFORMANCES, BUT ALSO MAKE UP A MAJORITY OF THE TEACHING STAFF FOR THE EDUCATIONAL PROGRAMS, AND SERVE AS THE ACTIVE PERFORMERS AND STAFF FOR ALL OF BRIGHT INVENTION'S SPECIAL EVENTS, COMMUNITY AND OUTREACH PROGRAMS, AND CORPORATE TRAINING. THEY ARE THE WORKING CREATIVE BODY OF BRIGHT INVENTION.
EDUCATION AND EVENTS - BRIGHT INVENTION'S EDUCATIONAL PROGRAMS ARE TARGETED AT THE COMMUNITY WITH AN EMPHASIS ON EDUCATION FOR SPECIAL NEEDS INDIVIDUALS, WHO DON'T HAVE ACCESS TO THEATER TRAINING AND EDUCATIONAL PROGRAMS. BRIGHT INVENTION IS ABLE TO ENGAGE OUR COMMUNITY AND UNDER-SERVED COMMUNITIES THROUGH THESE TYPES OF PROGRAMS, AS WELL AS SPECIAL PROGRAMS AND PERFORMANCES FOR OTHER ORGANIZATIONS WITHIN OUR COMMUNITY, BRINGING THE PERFORMATIVE ARTS TO SOME PLACES THAT DO NOT HAVE ACCESS TO THEM.
CREATIVE CORPORATE TRAINING - A PROGRAM WITHIN THE BRIGHT INVENTION INITIATIVE THAT SEEKS TO EDUCATE PROFESSIONALS IN THE CORPORATE WORLD ON HOW TO MORE EFFECTIVELY COMMUNICATE AND LISTEN TO ONE ANOTHER THROUGH USE OF BRIGHT INVENTION ENSEMBLE MEMBERS AND IMPROV BASED EXERCISES AND DEMONSTRATIONS. THE INITIATIVE SEEKS TO NOT ONLY GROW BRIGHT INVENTION'S BRAND WITHIN THE COMMUNITY AT LARGE, BUT ALSO BRING THE NATURAL SKILLS OF ARTISTS INTO THE CORPORATE LANDSCAPE TO HELP PROFESSIONALS BETTER UNDERSTAND HOW TO WORK AS A COHESIVE UNIT AND INCREASE THEIR PRODUCTIVITY THROUGH A BETTER UNDERSTANDING OF HOW TO BE AN EFFECTIVE LEADER AND COMMUNICATOR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Lloyd Executive Director | Officer | 40 | $67,500 |
Robert Stineman Director Of Finance/acting Treasurer | Officer | 10 | $12,000 |
Jamie Cooperstein Board President | Officer | 1 | $0 |
Joshua Park Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,695 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,764 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $49,459 |
| Total Program Service Revenue | $23,197 |
| Investment income | $12 |
| 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 | $72,668 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250 |
| 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. | $79,500 |
| Compensation of current officers, directors, key employees. | $45,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,753 |
| Fees for services: Management | $1,295 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,070 |
| Advertising and promotion | $214 |
| Office expenses | $4,364 |
| Information technology | $0 |
| Royalties | $4,350 |
| Occupancy | $0 |
| Travel | $1,487 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,841 |
| All other expenses | $353 |
| Total functional expenses | $120,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |