Creative Childrens Academy
- Assets
- $11.4m
- Revenue
- $5.1m
- Investments
- $0.0
- Employees
- 75
- Location
- Palatine, IL
- Founding
- 11/1982
- Data as of
- 06/2020
- EIN
- 36-3196542
Organization Overview
Creative Childrens Academy is located in Palatine, IL. The organization was established in 1982. As of 06/2022, Creative Childrens Academy employed 75 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 06/2020, Creative Childrens Academy generated $5.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (3.4%) each year. All expenses for the organization totaled $5.2m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (3.2%) 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
2020
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 3-13.
Describe the Organization's Program Activity:
Part 3 - Line 4a
QUEST ACADEMY IS AN ELEMENTARY/MIDDLE SCHOOL FOR APPROXIMATELY 250 INTELLECTUALLY GIFTED AND CREATIVELY TALENTED CHILDREN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Frank Head Of School | OfficerTrustee | 60 | $97,983 |
Patricia Wynn Director Of Finance & Oper | Officer | 40 | $68,643 |
Curtis Maas Chair | OfficerTrustee | 4 | $0 |
George Reichl Vice Chair & Treasurer | OfficerTrustee | 4 | $0 |
Don Mitckess Secretary | OfficerTrustee | 4 | $0 |
Valerie Campbell Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $299,533 |
| Investment income | $15,487 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$161,027 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $175,596 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,123,526 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $716,703 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $198,857 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,495,729 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $227,478 |
| Payroll taxes | $201,823 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,523 |
| Advertising and promotion | $39,523 |
| Office expenses | $44,810 |
| Information technology | $27,179 |
| 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 | $90,897 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $358,282 |
| Insurance | $46,163 |
| All other expenses | $0 |
| Total functional expenses | $5,206,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $445,852 |
| Savings and temporary cash investments | $1,196,539 |
| Pledges and grants receivable | $75,037 |
| Accounts receivable, net | $90,526 |
| 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 | $41,570 |
| Investments—publicly traded securities | $799,605 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $89,224 |
| Total assets | $11,413,469 |
| Accounts payable and accrued expenses | $641,036 |
| Grants payable | $0 |
| Deferred revenue | $1,614,981 |
| Tax-exempt bond liabilities | $1,940,190 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,950,000 |
| Unsecured mortgages and notes payable | $551,071 |
| Other liabilities | $196,683 |
| Total liabilities | $6,893,961 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $4,519,508 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Creative Childrens Academy has recieved totaling $38,345.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $29,228 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: GROWTH | $6,000 |
Fidelity Foundation Boston, MA PURPOSE: MATCHING GIFTS TO EDUCATION | $2,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $767 |
Lincoln Financial Foundation Inc Radnor, PA PURPOSE: MATCHING GIFT | $250 |
Arthur J Gallagher Foundation Rolling Meadows, IL PURPOSE: GENERAL EXEMPT PURPOSE | $100 |
Endowment Analysis
| Beg. Balance | $1,264,108 |
| Earnings | -$164,199 |
| Net Contributions | $5,265 |
| Ending Balance | $1,105,174 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Creative Childrens Academy Palatine, IL | $11,413,469 | $5,123,526 |
Eagle School Of Madison Inc Madison, WI | $7,093,018 | $3,783,099 |
Gifted Resource Council Saint Louis, MO | $91,948 | $278,428 |
Project Megsss Incorporated Saint Louis, MO | $185,365 | $235,138 |
Iowa Talented And Gifted Iowa City, IA | $59,568 | $0 |
Parents And Advocates For Gifted Education Inc Springfield, MO | $66,268 | $0 |