Teen Warehouse Inc
- Assets
- $9.3m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 29
- Location
- Wilmington, DE
- Founding
- 05/2018
- Data as of
- 12/2022
- EIN
- 82-3855379
Organization Overview
Teen Warehouse Inc is located in Wilmington, DE. The organization was established in 2018. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 12/2022, Teen Warehouse Inc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Teen Warehouse 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, Teen Warehouse Inc generated $2.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.2%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2022. 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
A DYNAMIC SPACE THAT PROVIDES WILMINGTON YOUTH WITH THE TOOLS TO BECOME CONTRIBUTING YOUNG ADULTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECREATION - DANCING, BASKETBALL, TEEN NIGHTS, YOGA AND MORE BUILDS COMMUNITY WHILE PROMOTING PHYSICAL WELL - BEING. EDUCATION - WITH COLLEGE AND CAREEERS ON THE HORIZON, THE WAREHOUSE PROVIDES TUTRING, CONSELING, MENTORING AND OTHER TOOLS TO PREPARE TEENS FOR THEIR NEXT LIFE STEPS. ARTS - AS CREATIVITY ABOUNDS IN TEENS, THE WAREHOUSE PROVIDES DIVERSE OUTLETS FOR EXPRESSION THROUGH VISUAL, PERFORMING AND ELECTRONIC ARTS. CAREERS - GREAT JOBS REQUIRE GREAT JOB SKILLS. FROM RESUME WRITING AND INTERVIEWING SKILLS TO HANDS ON JOB TRAINING, TEENS GAIN THE SKILLS THEY NEED FOR THE JOBS THEY WANT.HEALTH - TOGETHER WITH ITS PARTNERS, THE WAREHOUSE PROVIDES A FULLRANGE OF PHYSICAL, BEHAVIORAL AND MENTAL HEALTH SERVICES TEENS NEED TOTHRIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anaya Patterson Co - Chair | OfficerTrustee | 2 | $0 |
Sherry Dorsey Walker Co - Chair | OfficerTrustee | 2 | $0 |
Matthew Twyman Member | Trustee | 2 | $0 |
Suzanne Sysko Clough Member | Trustee | 2 | $0 |
Alexis Drew Member | Trustee | 2 | $0 |
Michael Coleman Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $198,486 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,513,933 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,712,419 |
| Total Program Service Revenue | $386,152 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $339 |
| Royalties | $0 |
| Net Rental Income | $214,667 |
| 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 | $2,313,577 |
| 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. | $168,110 |
| Compensation of current officers, directors, key employees. | $16,810 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,062,108 |
| Pension plan accruals and contributions | $8,564 |
| Other employee benefits | $75,237 |
| Payroll taxes | $67,855 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $35,504 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $77,990 |
| Travel | $793 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $25,885 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $266,043 |
| Insurance | $32,091 |
| All other expenses | $5,091 |
| Total functional expenses | $2,254,812 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,402,225 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $255,000 |
| Accounts receivable, net | $220,862 |
| 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 | $6,447,347 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,401 |
| Total assets | $9,333,835 |
| Accounts payable and accrued expenses | $359,123 |
| Grants payable | $0 |
| Deferred revenue | $16,350 |
| 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 | $531,059 |
| Other liabilities | $16,252 |
| Total liabilities | $922,784 |
| Net assets without donor restrictions | $7,756,651 |
| Net assets with donor restrictions | $654,400 |
| 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 | $9,333,835 |