Midfield Institute Of Cosmetology
- Assets
- $233.3k
- Revenue
- $464.9k
- Investments
- $0.0
- Employees
- 5
- Location
- Midfield, AL
- Founding
- 05/2009
- Data as of
- 12/2021
- EIN
- 80-0205752
Organization Overview
Midfield Institute Of Cosmetology is located in Midfield, AL. The organization was established in 2009. According to its NTEE Classification (B40) the organization is classified as: Higher Education, under the broad grouping of Education and related organizations. As of 12/2021, Midfield Institute Of Cosmetology employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Midfield Institute Of Cosmetology 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, Midfield Institute Of Cosmetology generated $464.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.7% each year . All expenses for the organization totaled $391.4k during the year ending 12/2021. While expenses have increased by 24.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PREPARE STUDENTS TO TAKE AND PASS THE ALABAMA STATE BOARD OF COSMETOLOGY EXAMINATION IN THEIR CHOSEN CURRICULUM AREA WITH A FOCUS ON ENTERPRENEURSHIP AND TEACHING STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PREPARE STUDENTS TO TAKE AND PASS THE ALABAMA STATE BOARD OF COSMETOLOGY EXAMINATION
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anneta Nunn Secretary | Officer | 1 | $0 |
James Williams Board Member | Officer | 1 | $0 |
Kim Mcfarland Board Member | Officer | 1 | $0 |
Lila Williams President/executive Director | Officer | 25 | $0 |
David Stephens Board Member | Officer | 1 | $0 |
Luctta Ford Vice President | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $436,826 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,039 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $464,865 |
| 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 | $464,865 |
| 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 | $110,075 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,788 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,505 |
| Fees for services: Accounting | $9,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $15,142 |
| Advertising and promotion | $6,091 |
| Office expenses | $13,547 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $53,765 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $747 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,291 |
| Insurance | $4,106 |
| All other expenses | $2,784 |
| Total functional expenses | $391,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,837 |
| Savings and temporary cash investments | $0 |
| 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 | $4,722 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,752 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $233,311 |
| Accounts payable and accrued expenses | $12,037 |
| 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 | $12,037 |
| Net assets without donor restrictions | $221,274 |
| 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 | $233,311 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Agmus Ventures Inc Orlando, FL | $37,164,923 | $55,828,300 |
New World Symphony Inc Miami Beach, FL | $279,723,631 | $46,402,310 |
Poynter Institute For Media Studies Inc St Petersburg, FL | $51,768,897 | $13,169,218 |
Richmont Graduate University Chattanooga, TN | $8,373,056 | $7,234,181 |
Larkin University Corp Miami, FL | $15,883,479 | $7,901,976 |
Memphis College Of Art Memphis, TN | $723,329 | $5,588,063 |
Atlanta General Education Center Inc Norcross, GA | $3,508,771 | $4,772,601 |
Reformation Bible College Inc Sanford, FL | $392,858 | $12,390,616 |
Huntsville Baptist Institute Inc Huntsville, AL | $1,531,999 | $1,030,360 |
Association Of Collegiate Schools Of Planning Inc Tallahassee, FL | $777,149 | $532,348 |
Unad Florida Inc Sunrise, FL | $683,686 | $584,565 |
Higher Education Partnership Montgomery, AL | $786,156 | $629,024 |