The Cherry Arts Inc
- Assets
- $43.5k
- Revenue
- $246.6k
- Investments
- $0.0
- Employees
- 9
- Location
- Ithaca, NY
- Founding
- 12/2014
- Data as of
- 06/2023
- EIN
- 47-2252738
Organization Overview
The Cherry Arts Inc is located in Ithaca, NY. The organization was established in 2014. 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, Cherry Arts Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cherry 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 06/2023, Cherry Arts Inc generated $246.6k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 43.5% each year . All expenses for the organization totaled $278.0k during the year ending 06/2023. While expenses have increased by 35.4% 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
THEATRICAL PERFORMANCE; PROVIDING SPACE FOR OTHER ART ORGANIZATIONS TO PERFORM; THEATRICAL & ART TRAINING
Describe the Organization's Program Activity:
Part 3 - Line 4a
CHERRY ARTS PRODUCTIONS & EXHIBITS: IN 2022-23 THE CHERRY CREATED OR PRESENTED THE PERFORMANCES: JUNE DANC, HEADING INTO NIGHT, E-MOTION, AQUERON AND VOICES OF UKRAIN ALONG WITH GALLERY EXHIBITIONS PAPA PREACH GOES NORF, AT THE THRESHOLD, ENTRE SOMBRAS & THE ARTHAUS COMMUNITY EXHIBITION.
CHERRY ARTS HOSTING: THE CHERRY HOSTED THE WORKS OF LOCAL PERFORMERS AND COMPANIES INCLUDING: LILYPAD PUPPET THEATER, ITHACA COLLEGE NEW VOICES CIRCUS CULTURE, SECOND STAGE, JAY LEEMING STORYTELLER; ITHACA SHAKESPEARE CO., KENNETH MCLAURIN, JASPEROO, WOW PRODUCTIONS, ACTING OUT NY, MAGIC BEYOND IMAGINATION & MANY OTHERS
CHERRY ARTS EDUCATION & COMMUNITY DEVELOPMENT: THE CHERRY HOSTED BI-WEEKLY COMMUNITY ART HIVES, MONTHLY OPEN MICS AND MANY ONE-OFF COMMUNITY EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Buggeln Artistic Director | Officer | 40 | $43,077 |
Penelope Chick President | Trustee | 1 | $0 |
Jim Bouderau Vice President | Trustee | 0.5 | $0 |
Greg Carlson Treasurer | Trustee | 1 | $0 |
Laura Miller Secretary | Trustee | 1 | $0 |
Eric Brooks Board Member | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $102,480 |
| All other contributions, gifts, grants, and similar amounts not included above | $59,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $162,098 |
| Total Program Service Revenue | $82,380 |
| 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 | $246,567 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,116 |
| 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. | $43,077 |
| Compensation of current officers, directors, key employees. | $43,077 |
| Compensation to disqualified persons | $72,429 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,006 |
| Fees for services: Management | $58,216 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,268 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,040 |
| Office expenses | $6,816 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $25,324 |
| Travel | $12,391 |
| 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 | $0 |
| Insurance | $8,771 |
| All other expenses | $0 |
| Total functional expenses | $277,962 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $43,517 |
| 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 | $43,517 |
| Accounts payable and accrued expenses | $58 |
| Grants payable | $0 |
| Deferred revenue | $50 |
| 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 | $74,533 |
| Other liabilities | $1,295 |
| Total liabilities | $75,936 |
| 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 | -$32,419 |
| Total liabilities and net assets/fund balances | $43,517 |