Second Chance Studios
- Assets
- $245.3k
- Revenue
- $458.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Washington, DC
- Founding
- Data as of
- 12/2021
- EIN
- 84-4730397
Organization Overview
Second Chance Studios is located in Washington, DC. According to its NTEE Classification (I40) the organization is classified as: Rehabilitation Services for Offenders, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2021, Second Chance Studios employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Second Chance Studios 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, Second Chance Studios generated $458.2k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 50.3% each year . All expenses for the organization totaled $340.4k 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
THE MISSION OF SECOND CHANCE STUDIOS IS TO EMPLOY, TRAIN AND EMPOWER FORMERLY INCARCERATED INDIVIDUALS FROM NEW YORK CITY TO HELP THEM GAIN A MARKETABLE SKILL-SET AND OVERCOME THE BARRIERS TO RE-JOINING THE WORKFORCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, SECOND CHANCE STUDIOS LAUNCHED ITS INAUGURAL DIGITAL MEDIA FELLOWSHIP PROGRAM, EMPLOYING 6 FORMERLY INCARCERATED INDIVIDUALS TO TRAIN AND ASSIST THEM IN STARTING THEIR MEDIA CAREERS. THESE FELLOWS WERE SELECTED FROM A TOTAL OF OVER 50 FELLOWSHIP APPLICATIONS GARNERED. THE ORGANIZATION FACILITATED AND HOSTED OVER 300 HOURS OF TRAINING FOR FELLOWS, BUILT A MENTOR CIRCLE OF 30+ MENTORS, AND OBTAINED 15+ CORPORATE AND PHILANTHROPIC PARTNERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lajuanda Asemota CEO & President | 40 | $115,242 | |
Coss Marte Vice President | OfficerTrustee | 1 | $2,500 |
Ravi Gupta Chairman | OfficerTrustee | 1 | $0 |
Alfred Johnson Treasurer | OfficerTrustee | 1 | $0 |
Natalie Papillion Director | Trustee | 1 | $0 |
Jordan Vaughn Director | 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 | $458,151 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $458,151 |
| 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 | $458,151 |
| 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. | $2,500 |
| Compensation of current officers, directors, key employees. | $2,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $107,410 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $504 |
| Payroll taxes | $8,374 |
| Fees for services: Management | $85,242 |
| Fees for services: Legal | $3,046 |
| Fees for services: Accounting | $24,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $14,025 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $69,563 |
| Advertising and promotion | $4,750 |
| Office expenses | $4,706 |
| Information technology | $6,248 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $590 |
| 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 | $0 |
| Insurance | $7,194 |
| All other expenses | $0 |
| Total functional expenses | $340,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,414 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,848 |
| 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 | $1 |
| Total assets | $245,263 |
| Accounts payable and accrued expenses | $2,000 |
| 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 | $842 |
| Total liabilities | $2,842 |
| Net assets without donor restrictions | $242,421 |
| 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 | $245,263 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Second Chance Studios has recieved totaling $7,490.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,490 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Native American Heritage Association Front Royal, VA | $28,167,593 | $82,634,591 |
Offender Aid And Restoration Of Charlottesville-Albe Marle Inc Charlottesville, VA | $1,318,318 | $2,384,129 |
Oar Of Richmond Inc Richmond, VA | $1,457,877 | $2,176,818 |
Oar Of Fairfax County Inc Fairfax, VA | $1,022,740 | $1,983,995 |
Open City Advocates Washington, DC | $583,892 | $533,013 |
The Fountain Fund Charlottesville, VA | $1,368,852 | $485,895 |
From Prison Cells To Phd Inc Baltimore, MD | $109,930 | $396,419 |
Second Chance Studios Washington, DC | $245,263 | $458,151 |
Nolef Turns Richmond, VA | $420,147 | $707,322 |
Maryland Reentry Resource Center Inc Odenton, MD | $6,924 | $230,682 |
Pivot Inc Baltimore, MD | $107,452 | $274,586 |
Changing Perceptions Washington, DC | $46,653 | $0 |