Michigan Barber School Inc
- Assets
- $890.3k
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 9
- Location
- Detroit, MI
- Founding
- 01/1949
- Data as of
- 06/2022
- 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 06/2022, Michigan Barber School Inc employed 9 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 06/2022, Michigan Barber School Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $2.1m during the year ending 06/2022. While expenses have increased by 6.8% 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
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 |
|---|---|---|---|
Curtis Wade Member | Trustee | 1 | $0 |
Dr William Sharp Member | Trustee | 1 | $0 |
Michele Vasconcellos Secretary | OfficerTrustee | 1 | $0 |
Saul Green President/treasurer | OfficerTrustee | 30 | $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 | $1,403,132 |
| 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 | $1,403,132 |
| Total Program Service Revenue | $1,006,851 |
| Investment income | $185 |
| 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 | $2,410,168 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,050,632 |
| 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 | $250,525 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $48,402 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,750 |
| Fees for services: Accounting | $60,464 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,800 |
| Advertising and promotion | $2,864 |
| Office expenses | $43,512 |
| Information technology | $7,718 |
| Royalties | $0 |
| Occupancy | $140,152 |
| Travel | $5,194 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,121 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,870 |
| Insurance | $17,832 |
| All other expenses | $19,231 |
| Total functional expenses | $2,140,978 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $179,336 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $438,545 |
| 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 | $122,675 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $149,749 |
| Total assets | $890,305 |
| Accounts payable and accrued expenses | $34,754 |
| Grants payable | $0 |
| Deferred revenue | $14,095 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $102,010 |
| Total liabilities | $188,784 |
| Net assets without donor restrictions | $701,521 |
| 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 | $890,305 |