Chicago Academy For The Arts
- Assets
- $2.6m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 102
- Location
- Chicago, IL
- Founding
- 01/1981
- Data as of
- 06/2022
- EIN
- 36-3084905
Organization Overview
Chicago Academy For The Arts is located in Chicago, IL. The organization was established in 1981. 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 06/2022, Chicago Academy For The Arts employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago Academy For The Arts 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 06/2022, Chicago Academy For The Arts generated $5.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $5.7m during the year ending 06/2022. While expenses have increased by 2.9% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CHICAGO ACADEMY FOR THE ARTS TRANSFORMS EMERGING ARTISTS THROUGH A CURRICULUM AND CULTURE WHICH CONNECT INTELLECTUAL CURIOSITY, CRITICAL THINKING, AND CREATIVITY TO IMPART THE SKILLS TO LEAD AND COLLABORATE ACROSS DIVERSE COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACADEMY OPERATES A PRIVATE HIGH SCHOOL IN CHICAGO, ILLINOIS OFFERING COLLEGE-PREPARATORY ACADEMIC CLASSES AND PRE-PROFESSIONAL ARTS TRAINING CLASSES IN DANCE, MEDIA ARTS (FILMMAKING, CREATIVE WRITING, ANIMATION), MUSIC, MUSICAL THEATRE, THEATRE, AND VISUAL ARTS (PAINTING, DRAWING, SCULPTURE).
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 |
|---|---|---|---|
Michael Finnerty Chair | OfficerTrustee | 2 | $0 |
Krista Linn Treasurer | OfficerTrustee | 1 | $0 |
Carlos Claudio Secretary | OfficerTrustee | 1 | $0 |
Barbara Atkins Ruhman Honorary Trustee | Trustee | 1 | $0 |
Paul Detlefs Honorary Trustee | Trustee | 1 | $0 |
Levoyd Robinson Immediate Past Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $418,008 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $876,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,294,280 |
| Total Program Service Revenue | $4,026,085 |
| Investment income | $37,300 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,445 |
| Net Income from Fundraising Events | -$125,870 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,242,240 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,140,374 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $175,376 |
| Compensation of current officers, directors, key employees. | $35,076 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,500,750 |
| Pension plan accruals and contributions | $43,825 |
| Other employee benefits | $128,656 |
| Payroll taxes | $196,566 |
| Fees for services: Management | $4,350 |
| Fees for services: Legal | $3,757 |
| Fees for services: Accounting | $42,222 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,538 |
| Fees for services: Other | $115,577 |
| Advertising and promotion | $102,437 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $494,712 |
| Travel | $0 |
| 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 | $96,430 |
| Insurance | $51,920 |
| All other expenses | $201,002 |
| Total functional expenses | $5,689,539 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $311,048 |
| Savings and temporary cash investments | $98,836 |
| Pledges and grants receivable | $655,582 |
| Accounts receivable, net | $76,460 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,042 |
| Prepaid expenses and deferred charges | $79,857 |
| Net Land, buildings, and equipment | $268,640 |
| Investments—publicly traded securities | $1,106,875 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $18,800 |
| Total assets | $2,625,140 |
| Accounts payable and accrued expenses | $174,129 |
| Grants payable | $0 |
| Deferred revenue | $318,699 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $37,200 |
| Total liabilities | $680,028 |
| Net assets without donor restrictions | $777,814 |
| Net assets with donor restrictions | $1,167,298 |
| 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 | $2,625,140 |