Artsmart
- Assets
- $196.1k
- Revenue
- $527.3k
- Investments
- $0.0
- Employees
- 4
- Location
- Philadelphia, PA
- Founding
- 04/2016
- Data as of
- 07/2022
- EIN
- 81-1536431
Organization Overview
Artsmart is located in Philadelphia, PA. The organization was established in 2016. 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 07/2022, Artsmart employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Artsmart 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 07/2022, Artsmart generated $527.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 39.7% each year . All expenses for the organization totaled $527.7k during the year ending 07/2022. 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
ARTSMART IS A NON-PROFIT ORGANIZATION WHOSE MISSION IS TO TRANSFORM THE LIVES OF YOUTH IN UNDER-RESOURCED COMMUNITIES ACROSS THE US THROUGH TUITION-FREE MUSIC LESSONS AND MENTORSHIP BY PAID, PROFESSIONAL ARTISTS. SINCE 2016, ARTSMART IS OPERATING IN 8 REGIONS IN TITLE 1 SCHOOLS THROUGHOUT THE US, PROVIDING NEARLY 35,000 MUSIC LESSIONS BY PROFESSIONAL MUSICIANS, AND PAYING OUR MENTORS MORE THE 1.4 MILLION IN COMPENSATION FOR THEIR EXPERTISE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HIGH QUALITY MUSIC LESSONS AND INSPIRATIONAL PERFORMANCES TO STUDENTS WHO WOULDN'T OTHERWISE BE ABLE TO AFFORD THEM.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Viscardi Treasurer | OfficerTrustee | 20 | $26,204 |
Liz Letak Secretary | OfficerTrustee | 20 | $18,000 |
Anthony Fabiano Board Member | Trustee | 1 | $0 |
Michael Fabiano Exec. Direct | OfficerTrustee | 10 | $0 |
Latonia Moore Board Member | Trustee | 1 | $0 |
Anne Faulkner Schoemaker Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $527,304 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $527,304 |
| Total Program Service Revenue | $0 |
| Investment income | $22 |
| 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 | $527,326 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $151,569 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,414 |
| Payroll taxes | $14,558 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,638 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $309,901 |
| Advertising and promotion | $0 |
| Office expenses | $156 |
| Information technology | $3,611 |
| Royalties | $0 |
| Occupancy | $480 |
| Travel | $1,153 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,740 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,356 |
| All other expenses | $1,210 |
| Total functional expenses | $527,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,077 |
| 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 | $196,077 |
| 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 | $1,741 |
| Secured mortgages and notes payable | $149,700 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $151,441 |
| Net assets without donor restrictions | $18,841 |
| Net assets with donor restrictions | $25,795 |
| 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 | $196,077 |