Free Lunch Academy
- Assets
- $128.9k
- Revenue
- $82.4k
- Investments
- $0.0
- Employees
- 2
- Location
- Chicago, IL
- Founding
- 01/2015
- Data as of
- 12/2021
- EIN
- 47-2703768
Organization Overview
Free Lunch Academy is located in Chicago, IL. The organization was established in 2015. According to its NTEE Classification (A60) the organization is classified as: Performing Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Free Lunch Academy employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Free Lunch 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 12/2021, Free Lunch Academy generated $82.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.2% each year. All expenses for the organization totaled $191.1k during the year ending 12/2021. 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
FREE LUNCH ACADEMY IS AN INNOVATIVE SOCIAL ENTERPRISE THAT LEVERAGES SOCIAL EMOTIONAL ARTISTIC LEARNING TO CULTIVATE CHARACTER DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
FREE LUNCH ACADEMY HAS OFFERED INCLUSIVE, INNOVATIVE, INDUSTRY NEUTRAL WORKFORCE DEVELOPMENT PROGRAMMING SERVICES FOR YOUTH, YOUNG ADULTS AND BUSINESSES WHO VALUE CREATIVITY. THROUGH EDUCATION, TRAINING, MENTORSHIP AND MORE, FREE LUNCH ACADEMY COMBINES EMERGING INDUSTRY BEST PRACTICES, SUBJECT MATTER EXPERTISE AND REAL WORLD APPLICATIONS WITHIN THE CREATIVE ECONOMY AND WELL BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Calvin King Executive Director | Officer | $0 | |
Tracy Olasimbo President | Trustee | 3 | $0 |
Prentice Butler Vice President | Trustee | 2.5 | $0 |
Lauren Parrott Treasurer | Trustee | 2.5 | $0 |
Holly Wilson Secretary | Trustee | 2 | $0 |
Bobby Owens Legal Counsel | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $75,059 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $75,059 |
| Total Program Service Revenue | $7,375 |
| Investment income | $0 |
| 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 | $82,434 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $17,477 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,883 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,560 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,200 |
| Advertising and promotion | $4,957 |
| Office expenses | $174 |
| Information technology | $3,090 |
| Royalties | $0 |
| Occupancy | $6,033 |
| Travel | $8,096 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,448 |
| Insurance | $18,459 |
| All other expenses | $50,684 |
| Total functional expenses | $191,110 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,227 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,390 |
| 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 | $61,521 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,803 |
| Total assets | $128,941 |
| Accounts payable and accrued expenses | $124,481 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,670 |
| Other liabilities | $0 |
| Total liabilities | $126,151 |
| Net assets without donor restrictions | $2,790 |
| 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 | $128,941 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Free Lunch Academy has recieved totaling $47,000.
| Awarding Organization | Amount |
|---|---|
Field Foundation Of Illinois Inc Chicago, IL PURPOSE: FLA ARTS HOMES | WHERE ARTISTS COME TO LIVE, WORK & THRIVE | $30,000 |
The Chicago Community Trust Chicago, IL PURPOSE: TO SUPPORT LET'S LINK CHI FUND | $17,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ravinia Festival Association Highland Park, IL | $230,171,878 | $43,242,885 |
Cave Hill Investment Company Louisville, KY | $206,891,533 | $9,697,721 |
Irish Festivals Inc Wauwatosa, WI | $3,948,548 | $3,527,102 |
Artists In Motion Inc Indianapolis, IN | $1,277,049 | $1,242,334 |
Thelma Sadoff Center For The Arts Inc Fond Du Lac, WI | $5,501,310 | $863,155 |
Hoogland Center For The Arts Inc Springfield, IL | $6,969,049 | $1,022,079 |
Kuumba Lynx Chicago, IL | $1,227,292 | $991,440 |
International Violin Competition Of Indianapolis Inc Indianapolis, IN | $1,812,080 | $819,704 |
Natya Dance Theatre Oakbrook, IL | $1,497,460 | $845,551 |
Tobacco Road Incorporated Chicago, IL | $6,766,640 | $242,517 |
Circus Flora Inc Saint Louis, MO | $192,585 | $837,921 |
Indiana Ballet Conservatory Inc Carmel, IN | $193,640 | $651,465 |