Floyd Creative Studios
- Assets
- $111.9k
- Revenue
- $129.4k
- Investments
- $0.0
- Employees
- 4
- Location
- Floyd, VA
- Founding
- 12/2016
- Data as of
- 12/2020
- EIN
- 81-3788373
Organization Overview
Floyd Creative Studios is located in Floyd, VA. The organization was established in 2016. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2020, Floyd Creative Studios employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Floyd Creative Studios 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 12/2020, Floyd Creative Studios generated $129.4k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 8.2% each year. All expenses for the organization totaled $105.1k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TEACHING THE CREATIVE PROCESS TO THE YOUNG PEOPLE IN OUR COMMUNITY THROUGH A VARIETY OF EXPERIENTIAL PROGRAMS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MUSIC WORKSHOPS, CLASSES, LESSONS AND AFTER SCHOOL PROGRAMS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew D Locke Executive Director | Trustee | $6,555 | |
Thomas M Traynam Vice President | Officer | $2,723 | |
Joseph Dejarnette President | Officer | $400 | |
Jennifer Finn Treasurer | Officer | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Martha Spencer Grant | 12/30/20 | $3,850 |
Jason Dilg Grant Writing | 12/30/20 | $2,218 |
Heather Angel Instructor | 12/30/20 | $1,452 |
Jesse Smathers Instructor | 12/30/20 | $951 |
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 | $94,880 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $94,880 |
| Total Program Service Revenue | $33,489 |
| Investment income | $2 |
| 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 | $1,043 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $129,414 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $557 |
| Grants and other assistance to domestic individuals. | $7,540 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,555 |
| Compensation of current officers, directors, key employees. | $6,555 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,415 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,235 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,019 |
| Fees for services: Accounting | $6,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,829 |
| Office expenses | $257 |
| Information technology | $7,475 |
| Royalties | $0 |
| Occupancy | $8,400 |
| Travel | $346 |
| 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 | $576 |
| Insurance | $644 |
| All other expenses | $3,048 |
| Total functional expenses | $105,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,289 |
| Savings and temporary cash investments | $72,302 |
| 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 | $15,694 |
| Inventories for sale or use | $2,787 |
| Prepaid expenses and deferred charges | $58 |
| Net Land, buildings, and equipment | $1,077 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,700 |
| Total assets | $111,907 |
| Accounts payable and accrued expenses | $18,668 |
| Grants payable | $0 |
| Deferred revenue | $14,148 |
| 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 | $32,900 |
| Other liabilities | $369 |
| Total liabilities | $66,085 |
| Net assets without donor restrictions | $45,822 |
| 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 | $111,907 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Floyd Creative Studios has recieved totaling $5,363.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $5,363 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Country Music Association Inc Nashville, TN | $102,178,283 | $43,001,334 |
Capital Concerts Inc Washington, DC | $5,908,234 | $11,646,682 |
Birthplace Of Country Music Alliance Bristol, TN | $15,699,295 | $2,559,665 |
Musicians On Call Inc Nashville, TN | $3,633,934 | $3,486,106 |
Herbie Hancock Institute Of Jazz Washington, DC | $2,606,776 | $2,382,953 |
Opera Lafayette Washington, DC | $934,993 | $1,317,563 |
Dc Jazz Festival Washington, DC | $509,622 | $1,492,287 |
National Association Of Securities Professionals Washington, DC | $381,412 | $1,369,032 |
Garth Newel Music Center Foundation Corp Warm Springs, VA | $11,030,155 | $3,286,449 |
Alliance For Middle East Peace Inc Washington, DC | $1,104,153 | $1,242,168 |
Blues Foundation Inc Memphis, TN | $4,533,935 | $1,249,645 |
Songbirds Foundation Inc Chattanooga, TN | $16,669,845 | $490,877 |