Adventurous Minds Produce Extraordinary Dreams Inc
- Assets
- $8.8m
- Revenue
- $7.4m
- Investments
- $0.0
- Employees
- 37
- Location
- Louisville, KY
- Founding
- 04/2015
- Data as of
- 12/2022
- EIN
- 47-1113120
Organization Overview
Adventurous Minds Produce Extraordinary Dreams Inc is located in Louisville, KY. The organization was established in 2015. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Adventurous Minds Produce Extraordinary Dreams Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Adventurous Minds Produce Extraordinary Dreams 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 12/2022, Adventurous Minds Produce Extraordinary Dreams Inc generated $7.4m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 63.5% each year . All expenses for the organization totaled $4.4m during the year ending 12/2022. While expenses have increased by 50.9% per year over the past 5 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 ACADEMY OF MUSIC PRODUCTION EDUCATION & DEVELOPMENT, INC. (AMPED) SEEKS TO BUILD GENERATIONAL WEALTH FOR FAMILIES AND ENTREPRENEURS IN MARGINALIZED COMMUNITIES BY CREATING SELF-SUFFICIENCY, ECONOMIC MOBILITY AND A MORE EQUITABLE SOCIETY. SERVICES FOCUS ON YOUTH PROGRAMMING, TECHNOLOGY WORKFORCE TRAINING, AND SMALL BUSINESS INCUBATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AMPED PROVIDES A FREE, OUT-OF-SCHOOL TIME, MUSIC PROGRAM THAT IS AVAILABLE YEAR-ROUND. AMPED USES MUSIC AND TECHNOLOGY AS A CATALYST TO EMPOWER YOUTH AND THEIR FAMILIES TO WORK AS A TEAM, LEARN HOW TO EXPRESS THEMSELVES EFFECTIVELY, AND DEVELOP INTO HEALTHY, PRODUCTIVE MEMBERS OF THE COMMUNITY AND THE WORLD. THE ACADEMY HAS ONE CAMPUS IN THE WEST END AND ONE IN EAST DOWNTOWN.
AMPED'S TECHNOLOGY WORKFORCE DEVELOPMENT PROGRAM AIMS TO ASSIST THE COMMUNITY WITH THE EDUCATION AND ENRICHMENT OF DIGITAL LITERACY EDUCATION AND PROVIDE THE NECESSARY TECHNOLOGY NEEDS TO GAIN ENTRY OF ADVANCEMENT WITHIN THE TECHNOLOGY INDUSTRY.
AMPED'S RUSSELL TECH BUSINESS INCUBATOR (RTBI) IS A STATE-OF-THE-ART TECHNOLOGY SERVICE CENTER OFFERING BUSINESS INCUBATION, CAREER TRAINING AND EMPLOYMENT TARGETED TO THE BLACK AND LATINX COMMUNITIES LOCATED IN WEST AND SOUTH LOUISVILLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Wachsman Chair | OfficerTrustee | 2 | $0 |
Patty Marguet Vice Chair | OfficerTrustee | 2 | $0 |
James Gravitt Treasurer | OfficerTrustee | 2 | $0 |
Alex Molestina Secretary | OfficerTrustee | 1 | $0 |
Harold Allen Director | Trustee | 1 | $0 |
Dave Christopher Sr Executive Director | OfficerTrustee | 40 | $137,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Miranda Construction Construction Services | 12/30/22 | $1,310,935 |
Bourke Accounting Accounting Services | 12/30/22 | $218,503 |
R Davis Studios Branding & Marketing | 12/30/22 | $188,310 |
Vissionaireum Business Coaching | 12/30/22 | $165,800 |
Creative Spirits Network Wellness Coaching | 12/30/22 | $157,206 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $30,257 |
| Membership dues | $0 |
| Fundraising events | $6,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,293,790 |
| Noncash contributions included in lines 1a–1f | $1,096,524 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,330,047 |
| Total Program Service Revenue | $25,350 |
| Investment income | $661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $134,500 |
| Net Gain/Loss on Asset Sales | -$61,250 |
| Net Income from Fundraising Events | -$22,719 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,407,733 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $137,101 |
| Grants and other assistance to domestic individuals. | $28,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $137,800 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $924,237 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $84,762 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,848 |
| Fees for services: Accounting | $46,381 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $132,992 |
| Advertising and promotion | $72,707 |
| Office expenses | $67,066 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $316,629 |
| Travel | $21,362 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,072 |
| Interest | $63,430 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,214 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,420,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $514,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $3,498,280 |
| Accounts receivable, net | $3,000 |
| 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 | $6,356 |
| Net Land, buildings, and equipment | $4,509,790 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $252,951 |
| Total assets | $8,785,352 |
| Accounts payable and accrued expenses | $400,622 |
| Grants payable | $0 |
| Deferred revenue | $102,500 |
| 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 | $2,300,000 |
| Unsecured mortgages and notes payable | $650,000 |
| Other liabilities | $252,951 |
| Total liabilities | $3,706,073 |
| Net assets without donor restrictions | $1,641,976 |
| Net assets with donor restrictions | $3,437,303 |
| 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 | $8,785,352 |
Grants Awarded
Over the last fiscal year, Adventurous Minds Produce Extraordinary Dreams Inc has awarded $70,908 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NATIONAL BLACK MBA ASSOCIATION - LOUISVILLE CHAPTER PURPOSE: 2022 LEADERS OF TOMORROW ANNUAL CONFERENCE | $8,448 |
THE KENTUCKY CENTER FOR THE PERFORMING ARTS PURPOSE: LIPSTICK WARS AND PERFORMANCE | $11,775 |
CREATIVE SPIRITS NETWORK PURPOSE: TRAINING, EQUIPMENT, TECHNOLOGY SERVICES | $40,685 |
BOYS & GIRS CLUBS OF KENTUCKIANA PURPOSE: DREAM SPONSORSHIP | $10,000 |