Thegifted Arts Inc
- Assets
- $161.1k
- Revenue
- $455.1k
- Investments
- $0.0
- Employees
- 13
- Location
- Raleigh, NC
- Founding
- 03/2013
- Data as of
- 12/2022
- EIN
- 45-2650004
Organization Overview
Thegifted Arts Inc is located in Raleigh, NC. The organization was established in 2013. 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 12/2022, Thegifted Arts Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Thegifted Arts 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 12/2022, Thegifted Arts Inc generated $455.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 40.5% each year . All expenses for the organization totaled $332.8k during the year ending 12/2022. While expenses have increased by 39.9% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO TRANSFORM THE LIVES OF YOUTH THROUGH CULTURALLY RESPONSIVE ARTISTIC EXPERIENCES. WE ARE COMMITTED TO ELIMINATING RACIAL INEQUALITIES IN THE ARTS AND DISMANTLING SYSTEMS OF OPPRESSION WITH AND THROUGH OUR ART. WE ENVISION A WORLD WHERE YOUNG PEOPLE HAVE THE TOOLS THEY NEED TO SUCCESSFULLY NAVIGATE LIFE OBSTACLES AND ULTIMATELY EMBRACE THEIR GIFTS AND PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GIFTEDACADEMY - A SIGNATURE YEAR-ROUND PROGRAM WHERE 60 STUDENTS EXPLORE DANCE, THEATER, FASHION, SPOKEN-WORD, AND MUSIC PROGRAMMING. TGA PRODUCED A ZEALOUS SEASON OF 26 INTERNAL AND EXTERNAL EVENTS REACHING AN ESTIMATED 8,000 AUDIENCE MEMBERS.
VARIOUS SMALL PROGRAMS PROVIDING ART ENRICHMENT TO YOUTH.
GIFTEDIMPACT - PROVIDES PERFORMANCE, DEMONSTRATIONS, AND FREE AFTER-SCHOOL PROGRAMS FOR SCHOOLS AND COMMUNITY AGENCIES.
GIFTEDSUMMER - A UNIQUE, FULL-DAY, FIVE-WEEK CULTURAL PERFORMING ARTS CAMP FOR RISING 3RD-10TH GRADE STUDENTS INTERESTED IN EXPLORING THE PERFORMING ARTS WORLD, WITH DAILY EDUCATIONAL PROJECT-BASED RECREATIONAL ACTIVITIES THROUGHOUT THE SUMMER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wanda Lassiter Board Treasurer | OfficerTrustee | 1 | $0 |
Elliot Brody Board Member | Trustee | 1.5 | $0 |
Rafik Keith Board Chair | Trustee | 1 | $0 |
Clarence Morgan III Founder, COO | Officer | 40 | $62,354 |
Nichole Morgan Founder, CEO | Officer | 40 | $76,786 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $537 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $414,158 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $414,695 |
| Total Program Service Revenue | $40,417 |
| 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 | $455,112 |
| 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. | $139,140 |
| Compensation of current officers, directors, key employees. | $50,215 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $55,817 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,152 |
| Payroll taxes | $16,314 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,745 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,550 |
| Advertising and promotion | $12,870 |
| Office expenses | $14,793 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,354 |
| Travel | $5,158 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,952 |
| All other expenses | $0 |
| Total functional expenses | $332,750 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,676 |
| 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 | $3,363 |
| 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 | $28 |
| Total assets | $161,067 |
| 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 | $161,067 |
| Total liabilities and net assets/fund balances | $161,067 |