Stonegate Arts & Education Center Inc
- Assets
- $192.6k
- Revenue
- $157.6k
- Investments
- $0.0
- Employees
- 3
- Location
- Bedford, IN
- Founding
- 02/2016
- Data as of
- 12/2023
- EIN
- 47-5329503
Organization Overview
Stonegate Arts & Education Center Inc is located in Bedford, IN. The organization was established in 2016. According to its NTEE Classification (S02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Stonegate Arts & Education Center Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stonegate Arts & Education Center 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 12/2023, Stonegate Arts & Education Center Inc generated $157.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $210.4k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF STONEGATE ARTS & EDUCATION CENTER IS TO INSPIRE STUDENTS, EDUCATORS AND THE COMMUNITY IN THE PURSUIT OF EDUCATION AND THE ARTS; TO FOSTER AND PROMOTE WORKFORCE, BUSINESS AND COMMUNITY DEVELOPMENT WITHIN LAWRENCE COUNTY, INCLUDING OFFERING START-UP INCUBATOR SPACE TO DEVELOPING BUSINESSES; TO IGNITE CURIOSITY AND EXCITEMENT THROUGH INNOVATIVE PROGRAMS; TO PROMOTE ACTIVITIES IN MATH, SCIENCE, AND TECHNOLOGY; AND SUCH OTHER AND FURTHER POWERS, PRIVILEGES AND RESPONSIBILITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF STONEGATE ARTS & EDUCATION CENTER IS TO INSPIRE STUDENTS, EDUCATORS AND THE COMMUNITY IN THE PURSUIT OF EDUCATION AND THE ARTS; TO FOSTER AND PROMOTE WORKFORCE, BUSINESS AND COMMUNITY DEVELOPMENT WITHIN LAWRENCE COUNTY, INCLUDING OFFERING START-UP INCUBATOR SPACE TO DEVELOPING BUSINESSES; TO IGNITE CURIOSITY AND EXCITEMENT THROUGH INNOVATIVE PROGRAMS; TO PROMOTE ACTIVITIES IN MATH, SCIENCE, AND TECHNOLOGY; AND SUCH OTHER AND FURTHER POWERS, PRIVILEGES AND RESPONSIBILITIES.
PROVIDE A WELL MAINTAINED FACILITY TO LOCAL COLLEGES AND THE COMMUNITY FOR THE PURSUIT OF HIGHER EDUCATION, INCUBATION SPACE FOR START UP BUSINESSES AND AN INVITING SPACE FOR COMMUNITY ACTIVITIES.
PROVIDE AWARENESS TO THE COMMUNITY OF THE MANY PROGRAMS OFFERED AT THE FACILITY AND THE POTENTIAL FOR ADDITIONAL PROGRAMS TO BETTER OUR COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sam Craig Director | Trustee | 1 | $0 |
Duane Embree President | Trustee | 1 | $0 |
Shawna Girgis Director | Trustee | 1 | $0 |
Anah Gouty Director | Trustee | 1 | $0 |
Julie Hewetson Director | Trustee | 1 | $0 |
Jessica Jones Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $50,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $43,350 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $93,350 |
| Total Program Service Revenue | $61,595 |
| Investment income | $1,828 |
| 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 | $157,573 |
| 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 | $103,649 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,129 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $137 |
| Advertising and promotion | $2,269 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $46,676 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $338 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36 |
| Insurance | $3,155 |
| All other expenses | $7,841 |
| Total functional expenses | $210,365 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,020 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,676 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,880 |
| Total assets | $192,576 |
| Accounts payable and accrued expenses | $3,453 |
| 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 | $0 |
| Other liabilities | $5,604 |
| Total liabilities | $9,057 |
| Net assets without donor restrictions | $183,519 |
| 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 | $192,576 |