Michigan Barber School Inc
- Assets
- $784.3k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 13
- Location
- Detroit, MI
- Founding
- 01/1949
- Data as of
- 06/2021
- EIN
- 38-1284777
Organization Overview
Michigan Barber School Inc is located in Detroit, MI. The organization was established in 1949. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 06/2021, Michigan Barber School Inc employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Barber School 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 06/2021, Michigan Barber School Inc generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.4%) 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
OUR MISSION IS TO TRAIN POTENTIALLY THE FINEST BARBERS IN AMERICA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MICHIGAN BARBER SCHOOL, INC OPERATES A BARBER/STYLING SCHOOL. THE SCHOOL REQUIRES EACH STUDENT TO COMPLETE AT LEAST 1800 HOURS OF INSTRUCTION; 225 IN ACADEMICS AND 1575 IN PRACTICAL TRAINING. THE SCHOOL'S PROGRAM TAKES 15-18 MONTHS TO COMPLETE. THE JOB PLACEMENT RATE APPROACHES 100%.
THE STUDENTS MUST COMPLETE 1575 HOURS OF PRACTICAL TRAINING. IN ORDER TO PROVIDE THIS TRAINING, THE SCHOOL OPERATES A CLINIC. IT IS OPEN TO THE PUBLIC 5 DAYS A WEEK AND PROVIDES THE COMMUNITY WITH A LOW COST WAY TO RECEIVE VARIOUS BARBER AND BEAUTY SALON HAIR CARE SERVICES. THE CLINIC HAD APPROXIMATELY 7,000 APPOINTMENTS IN THE CURRENT YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michele Vasconcellos Secretary | OfficerTrustee | 1 | $0 |
Saul Green President/treasurer | OfficerTrustee | 30 | $0 |
Curtis Wade Member | Trustee | 1 | $0 |
Dr William Sharp Member | Trustee | 1 | $0 |
Diane Green Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $387,220 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $387,220 |
| Total Program Service Revenue | $920,044 |
| Investment income | $25 |
| 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 | $1,307,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $131,492 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $401,425 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $35,395 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,000 |
| Fees for services: Accounting | $19,165 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,068 |
| Advertising and promotion | $9,657 |
| Office expenses | $38,822 |
| Information technology | $8,576 |
| Royalties | $0 |
| Occupancy | $127,346 |
| Travel | $1,637 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,820 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,466 |
| Insurance | $16,922 |
| All other expenses | $23,304 |
| Total functional expenses | $1,315,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,431 |
| Savings and temporary cash investments | $5,160 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $509,154 |
| 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 | $0 |
| Net Land, buildings, and equipment | $137,545 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $784,290 |
| Accounts payable and accrued expenses | $71,734 |
| Grants payable | $0 |
| Deferred revenue | $11,090 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $37,925 |
| Secured mortgages and notes payable | $19,960 |
| Unsecured mortgages and notes payable | $93,037 |
| Other liabilities | $118,213 |
| Total liabilities | $351,959 |
| Net assets without donor restrictions | $432,331 |
| 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 | $784,290 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Michigan Barber School Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
Detriot Economic Growth Association Detroit, MI PURPOSE: SMALL BUSINESS RELIEF | $40,000 |