Ifetayo Cultural Arts Academy Inc
- Assets
- $1.5m
- Revenue
- $859.8k
- Investments
- $0.0
- Employees
- 52
- Location
- Brooklyn, NY
- Founding
- 06/1992
- Data as of
- 08/2021
- EIN
- 11-3027538
Organization Overview
Ifetayo Cultural Arts Academy Inc is located in Brooklyn, NY. The organization was established in 1992. 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 08/2021, Ifetayo Cultural Arts Academy Inc employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ifetayo Cultural Arts Academy 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 08/2021, Ifetayo Cultural Arts Academy Inc generated $859.8k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $808.0k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IFETAYO CULTURAL ARTS ACADEMY EMPOWERS YOUTH AND FAMILIES OF AFRICAN DESCENT TO ACHIEVE HIGH LEVELS OF EDUCATIONAL, PROFESSIONAL AND ARTISTIC EXCELLENCE. AS A LEADING BROOKLYN-BASED INSTITUTION WE INSPIRE FUTURE GENERATIONS TO DEVELOP A STRONG AFRICAN-CENTERED CULTURAL IDENTITY AND REALIZE THEIR POWER TO TRANSFORM SOCIAL INEQUITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RITES OF PASSAGE PROGRAMS: SISTERS IN SISTERHOOD AND I AM MY BROTHER IS A YEAR-ROUND AFTER SCHOOL PROGRAM THAT EMPOWERS YOUTH AGES 8-19 TO ADVANCE THEIR INTELLECTUAL AND EMOTIONAL SKILLS IN PREPARATION FOR GROWTH INTO INDEPENDENT, COMPASSIONATE, SELF-CONFIDENT LEADERS. RITES OFFERS TRAINING AND INSTRUCTION THAT INCLUDES DEVELOPMENT OF PERSONAL SKILLS COLLEGE AND CAREER COUNSELING SERVICES FAMILY MEETINGS AND HOME VISITS. FINANCIAL EDUCATION INSTITUTE FEI AND INDIVIDUAL DEVELOPMENT ACCOUNTS PROGRAM IDA PROVIDES CRUCIAL FINANCIAL EDUCATION WORKSHOPS AND COLLEGE SAVINGS ACCOUNTS FOR STUDENTS BEGINNING AT AGE 8 THROUGH GRADUATION FROM COLLEGE.
ARTS EDUCATION PROGRAM: AE PROVIDES SEQUENTIAL, WEEKLY IN-SCHOOL AND AFTERSCHOOL ARTS EDUCATION AND YOUTH DEVELOPMENT PROGRAMMING TO PUBLIC, CHARTER AND PRIVATE SCHOOLS IN NEW YORK CITY. DISCIPLINES IN FY18 INCLUDED VISUAL ARTS DIGITAL PHOTOGRAPHY, JEWELRY MAKING, PAINTING & SKETCHING, DANCE AFRICAN, HIP HOP, MODERN, MUSIC AFRICAN DRUM, GUITAR, MUSIC THEORY AND AUDIO PRODUCTION.
THE IFETAYO YOUTH ENSEMBLE: IYE IS A PREPARATORY PROFESSIONAL PERFORMANCE ENSEMBLE FOR YOUTH AGES 12-19, WHICH WORKS RIGOROUSLY THROUGH TRAINING AND REHEARSAL TO PRODUCE ORIGINAL WORKS ABOUT SOCIAL ISSUES THAT AFFECT THEIR COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Naima Oyo Executive Dir. | OfficerTrustee | 40 | $122,250 |
Lesley Nurse CFA Co-Chair | OfficerTrustee | 4 | $0 |
Ron Innocent Secretary | OfficerTrustee | 4 | $0 |
Baruti Bediako CPA Treasurer | OfficerTrustee | 4 | $0 |
Tanya Taylor CPA Co-Chair | OfficerTrustee | 4 | $0 |
Tricia L Roberts Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $432,230 |
| All other contributions, gifts, grants, and similar amounts not included above | $325,300 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $757,530 |
| Total Program Service Revenue | $62,640 |
| 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 | $859,827 |
| 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. | $127,749 |
| Compensation of current officers, directors, key employees. | $19,412 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $416,410 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,434 |
| Payroll taxes | $52,944 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $560 |
| Fees for services: Accounting | $37,238 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25,959 |
| Advertising and promotion | $17,140 |
| Office expenses | $19,480 |
| Information technology | $27,459 |
| Royalties | $0 |
| Occupancy | $38,031 |
| Travel | $257 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,442 |
| Interest | $1,860 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,287 |
| Insurance | $30,255 |
| All other expenses | $0 |
| Total functional expenses | $807,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $369,712 |
| Savings and temporary cash investments | $430 |
| Pledges and grants receivable | $1,040,000 |
| Accounts receivable, net | $7,673 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,197 |
| Prepaid expenses and deferred charges | $11,948 |
| Net Land, buildings, and equipment | $78,166 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,950 |
| Total assets | $1,513,076 |
| Accounts payable and accrued expenses | $175,167 |
| Grants payable | $0 |
| Deferred revenue | $128,883 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $148,458 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $184,021 |
| Other liabilities | $0 |
| Total liabilities | $636,529 |
| Net assets without donor restrictions | -$542,817 |
| Net assets with donor restrictions | $1,419,364 |
| 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 | $1,513,076 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Ifetayo Cultural Arts Academy Inc has recieved totaling $241,396.
| Awarding Organization | Amount |
|---|---|
Tides Foundation San Francisco, CA PURPOSE: HEALTHY INDIVIDUALS AND COMMUNITIES | $90,000 |
Pinkerton Foundation New York, NY PURPOSE: AFTER SCHOOL & SUMMER LEARNING | $75,000 |
Rockefeller Philanthropy Advisors Inc New York, NY PURPOSE: GENERAL | $31,200 |
The Pierre And Tana Matisse Foundation New York, NY PURPOSE: GENERAL SUPPORT | $25,000 |
Youth Improving Non-Profits For Children New York, NY PURPOSE: See Part IV | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $196 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Shed Nyc Inc New York, NY | $621,442,218 | $102,270,782 |
Westchester Academic Library Directors Organization Inc New York, NY | $47,276,623 | $38,534,511 |
Pro Publica Inc New York, NY | $60,782,681 | $36,005,300 |
Pittsburgh Trust For Cultural Resources Pittsburgh, PA | $189,016,990 | $50,601,813 |
Dia Center For The Arts Inc New York, NY | $215,209,262 | $19,693,933 |
Munson-Williams-Proctor Arts Institute Utica, NY | $139,434,457 | $25,944,561 |
Bethel Woods Center For The Arts Inc Liberty, NY | $30,099,296 | $24,809,456 |
Artsquest Bethlehem, PA | $46,615,180 | $27,430,533 |
Lincoln Park Performing Arts Center Midland, PA | $37,610,958 | $11,880,429 |
Joan Mitchell Foundation Inc New York, NY | $163,093,074 | $7,287,755 |
African American Cultural Center Pittsburgh, PA | $15,275,830 | $8,128,417 |
Pioneer Works Art Foundation Brooklyn, NY | $17,838,425 | $7,041,619 |