Elevated Thought Inc
- Assets
- $5.2m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 47
- Location
- Lawrence, MA
- Founding
- 01/2011
- Data as of
- 12/2023
- EIN
- 27-3519031
Organization Overview
Elevated Thought Inc is located in Lawrence, MA. The organization was established in 2011. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2023, Elevated Thought Inc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Elevated Thought 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 12/2023, Elevated Thought Inc generated $1.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 42.2% each year .
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
ART & SOCIAL JUSTICE ORGANIZATION USING ART TO EMPOWER YOUTH, LAUNCH BEAUTIFICATION PROJECTS, YOUTH ORGANIZING AND PUBLIC OUTREACH
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH ART EMPOWERMENT AND OUTREACH
PUBLIC ART PROJECTS TO BEAUTIFY COMMUNITY AND PRIVATE PROPERTIES AND AREAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marquis Victor Executive Di | Officer | 40 | $125,000 |
Allison Argueta Director | Trustee | 2 | $0 |
Corina Cornejo Director | Trustee | 2 | $0 |
Debra Fox Treasurer | OfficerTrustee | 2 | $0 |
Gladys Martinez Clerk | Trustee | 2 | $0 |
Francellis Quinones Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,248,005 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,666 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,251,671 |
| Total Program Service Revenue | $126,536 |
| 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 | $1,378,207 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $25,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,120,952 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,755 |
| Payroll taxes | $102,691 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $125,694 |
| Advertising and promotion | $10,636 |
| Office expenses | $37,611 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $208,210 |
| Travel | $23,122 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $145,417 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $35,538 |
| Insurance | $7,732 |
| All other expenses | $85,014 |
| Total functional expenses | $2,313,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,108,895 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $51,000 |
| 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 | $35,730 |
| Net Land, buildings, and equipment | $890,734 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,127,040 |
| Total assets | $5,213,399 |
| Accounts payable and accrued expenses | $70,851 |
| 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 | $5,640 |
| Secured mortgages and notes payable | $3,751,423 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,827,914 |
| Net assets without donor restrictions | $1,385,485 |
| 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 | $5,213,399 |