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Nonprofiteer
← THEGIFTED ARTS INC

Form 990 for tax year 2022

Filed by THEGIFTED ARTS INC.

Totals

Total revenue
$455,112
Total expenses
$332,750
Contributions and grants received
$414,695
Grants paid
$0
Program service revenue
$40,417
Investment income
$0
Other revenue
$0
Total assets, end of year
$161,067
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$161,067
Program services expenses (Part IX)
$158,797
Management and general expenses
$173,953
Fundraising expenses
$0
Program service expenses (Part III)
$158,797

Program services were 47.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1b · Membership dues

    $537

  • 1f · All other contributions, gifts and grants

    $414,158

  • 2a · Program service revenue: PROGRAM INCOME

    total $40,417 · related or exempt $40,417

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $139,140 · program services $88,925 · management and general $50,215

  • 7 · Other salaries and wages

    total $55,817 · program services $35,673 · management and general $20,144

  • 9 · Other employee benefits

    total $17,152 · management and general $17,152

  • 10 · Payroll taxes

    total $16,314 · management and general $16,314

  • 11c · Fees: accounting

    total $4,745 · management and general $4,745

  • 11g · Fees: other

    total $1,550 · program services $1,550

  • 12 · Advertising and promotion

    total $12,870 · program services $6,607 · management and general $6,263

  • 13 · Office expenses

    total $14,793 · program services $2,034 · management and general $12,759

  • 16 · Occupancy

    total $46,354 · program services $9,480 · management and general $36,874

  • 17 · Travel

    total $5,158 · program services $4,743 · management and general $415

  • 20 · Interest

    total $10 · management and general $10

  • 23 · Insurance

    total $6,952 · program services $497 · management and general $6,455

  • 24a · Other expenses: OFFICE SUPPLIES

    total $6,801 · program services $4,194 · management and general $2,607

  • 24b · Other expenses: PROGRAM SUPPLIES

    total $5,094 · program services $5,094

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $37,097 · end of year $157,676

  • 8 · Inventories for sale or use

    beginning of year $1,608 · end of year $3,363

  • 15 · Other assets

    beginning of year $0 · end of year $28

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $38,705 · end of year $161,067

Mission and programs · 2022

Mission

OUR MISSION IS TO TRANSFORM THE LIVES OF YOUTH THROUGH CULTURALLY RESPONSIVE ARTISTIC EXPERIENCES. WE ARE COMMITTED TO ELIMINATING RACIAL INEQUALITIES IN THE ARTS AND DISMANTLING SYSTEMS OF OPPRESSION WITH AND THROUGH OUR ART. WE ENVISION A WORLD WHERE YOUNG PEOPLE HAVE THE TOOLS THEY NEED TO SUCCESSFULLY NAVIGATE LIFE OBSTACLES AND ULTIMATELY EMBRACE THEIR GIFTS AND PURPOSE.

  • GIFTEDACADEMY - A SIGNATURE YEAR-ROUND PROGRAM WHERE 60 STUDENTS EXPLORE DANCE, THEATER, FASHION, SPOKEN-WORD, AND MUSIC PROGRAMMING. TGA PRODUCED A ZEALOUS SEASON OF 26 INTERNAL AND EXTERNAL EVENTS REACHING AN ESTIMATED 8,000 AUDIENCE MEMBERS.

    Expenses $68,033 · Revenue $19,678

  • GIFTEDIMPACT - PROVIDES PERFORMANCE, DEMONSTRATIONS, AND FREE AFTER-SCHOOL PROGRAMS FOR SCHOOLS AND COMMUNITY AGENCIES.

    Expenses $53,840 · Revenue $15,572

  • GIFTEDSUMMER - A UNIQUE, FULL-DAY, FIVE-WEEK CULTURAL PERFORMING ARTS CAMP FOR RISING 3RD-10TH GRADE STUDENTS INTERESTED IN EXPLORING THE PERFORMING ARTS WORLD, WITH DAILY EDUCATIONAL PROJECT-BASED RECREATIONAL ACTIVITIES THROUGHOUT THE SUMMER.

    Expenses $17,865 · Revenue $5,167

  • VARIOUS SMALL PROGRAMS PROVIDING ART ENRICHMENT TO YOUTH.

    Expenses $19,059

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Wanda Lassiter

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Elliot Brody

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1.5

  • Rafik Keith

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Clarence Morgan III

    FOUNDER, COO

    Total calculated
    $62,354
    From this org
    $62,354
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Nichole Morgan

    FOUNDER, CEO

    Total calculated
    $76,786
    From this org
    $76,786
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202333199349308103

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