Creative Childrens Academy
- Assets
- $13.5m
- Revenue
- $7.0m
- Investments
- $0.0
- Employees
- 78
- Location
- Palatine, IL
- Founding
- 11/1982
- Data as of
- 06/2024
- EIN
- 36-3196542
Organization Overview
Creative Childrens Academy is located in Palatine, IL. The organization was established in 1982. As of 06/2024, Creative Childrens Academy employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Creative Childrens Academy 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 06/2024, Creative Childrens Academy generated $7.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $6.4m during the year ending 06/2024. While expenses have increased by 2.4% per year over the past 6 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
QUEST ACADEMY IS AN INDEPENDENT SCHOOL WHICH PROVIDES AN INTELLECTUALLY RICH ENVIRONMENT OF ACADEMICS AND ART FOR GIFTED STUDENTS AGES 3-14.
Describe the Organization's Program Activity:
QUEST ACADEMY IS AN ELEMENTARY/MIDDLE SCHOOL FOR APPROXIMATELY 260 INTELLECTUALLY GIFTED AND CREATIVELY TALENTED CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nader Qaimari Chair | OfficerTrustee | 4 | $0 |
Valerie Campbell Trustee | Trustee | 2 | $0 |
Luke Praxmarer Treasurer | OfficerTrustee | 2 | $0 |
Don Mitckess Secretary | OfficerTrustee | 2 | $0 |
Sedhu Krishnamurthy Trustee | Trustee | 2 | $0 |
Dominique Kendrick Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $74,525 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $269,687 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $344,212 |
| Total Program Service Revenue | $6,537,437 |
| Investment income | $120,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$178,417 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $187,778 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,011,786 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $670,320 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $217,204 |
| Compensation of current officers, directors, key employees. | $31,109 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,226,872 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $373,027 |
| Payroll taxes | $257,133 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,054 |
| Advertising and promotion | $64,755 |
| Office expenses | $82,068 |
| Information technology | $22,766 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $77,208 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $385,816 |
| Insurance | $70,101 |
| All other expenses | $227,651 |
| Total functional expenses | $6,382,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,647,314 |
| Pledges and grants receivable | $17,782 |
| Accounts receivable, net | $23,824 |
| 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 | $82,600 |
| Net Land, buildings, and equipment | $7,684,746 |
| Investments—publicly traded securities | $1,677,672 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $346,922 |
| Total assets | $13,480,860 |
| Accounts payable and accrued expenses | $646,701 |
| Grants payable | $0 |
| Deferred revenue | $2,423,651 |
| Tax-exempt bond liabilities | $1,322,840 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,531,931 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $104,093 |
| Total liabilities | $6,029,216 |
| Net assets without donor restrictions | $7,187,240 |
| Net assets with donor restrictions | $264,404 |
| 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 | $13,480,860 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Creative Childrens Academy Palatine, IL | $13,480,860 | $7,011,786 |
Eagle School Of Madison Inc Madison, WI | $7,059,997 | $4,444,206 |
Gifted Resource Council St Louis, MO | $119,589 | $307,465 |
Iowa Talented And Gifted Des Moines, IA | $154,588 | $0 |
Project Megsss Incorporated Saint Louis, MO | $67,671 | $51,376 |