Crearte Inc
- Assets
- $150.6k
- Revenue
- $957.3k
- Investments
- $0.0
- Employees
- 59
- Location
- San Juan, PR
- Founding
- 07/2003
- Data as of
- 07/2023
- EIN
- 66-0585251
Organization Overview
Crearte Inc is located in San Juan, PR. The organization was established in 2003. According to its NTEE Classification (A25) the organization is classified as: Arts Education, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2023, Crearte Inc employed 59 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crearte 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 07/2023, Crearte Inc generated $957.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (8.3%) each year. All expenses for the organization totaled $954.8k during the year ending 07/2023. As we would expect to see with falling revenues, expenses have declined by (18.9%) per year over the past 4 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS ENGAGED IN PROMOTING THE SOCIAL AND EDUCATIONAL DEVELOPMENT OF ECONOMIC DISADVANTAGED YOUTHS AND CHILDREN FROM 2 MONTHS TO 21 YEARS THROUGH FOUR PROGRAMS: ESCUELAS ALTERNATIVA, PROGRAMA VESPERTINO, CENTRO DE DESARROLLO INTREGRAL AND SERVICIOS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM: ALTERNATIVE SCHOOL AND AFTERSCHOOL PROGRAM. - REGISTRATION: 103 IN THE SCHOOL PROGRAM WHICH SUPPORTS STUDENTS BY PROVIDING ACADEMIC TUTORING AND ENCOURAGEMENT. THIS REPRESENTS 39% OF OUR PROGRAM COSTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Federico Calaf Legrand President | OfficerTrustee | 5 | $0 |
David Vergel DE Miranda Officer | OfficerTrustee | 5 | $0 |
Francisco Perez Corujo Officer | OfficerTrustee | 5 | $0 |
Richard Reiss Huyke Officer | OfficerTrustee | 5 | $0 |
Alan Cohen Shoreman Officer | OfficerTrustee | 5 | $0 |
Alma Rodriguez Nieves Officer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $953,099 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,160 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $957,259 |
| Total Program Service Revenue | $0 |
| 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 | $957,259 |
| 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 | $682,792 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $78,307 |
| Advertising and promotion | $0 |
| Office expenses | $47,679 |
| Information technology | $18,776 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $28,468 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,406 |
| Insurance | $3,643 |
| All other expenses | $833 |
| Total functional expenses | $954,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,761 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $35,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $150,553 |
| Accounts payable and accrued expenses | $642,500 |
| 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 | $0 |
| Total liabilities | $642,500 |
| Net assets without donor restrictions | $0 |
| 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 | $150,553 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Crearte Inc San Juan, PR | $150,553 | $957,259 |
Liga Estudiantes De Arte De San Juan Inc P O Box 5181 San Juan, PR | $537,406 | $898,145 |
Alquimia Corp San Juan, PR | $32,302 | $15,100 |
Liceo De Arte Del Sur Inc Ponce, PR | $1,212 | $0 |
Puerto Rico Classical Dance Competition Association Bayamon, PR | $9,095 | $0 |