Skip to content
Nonprofiteer
← COCA QALICB INC

Form 990 for tax year 2023

Filed by COCA QALICB INC.

Totals

Total revenue
$592,760
Total expenses
$1,236,028
Contributions and grants received
$283,664
Grants paid
$0
Program service revenue
$309,096
Investment income
$0
Other revenue
$0
Total assets, end of year
$29,623,133
Total liabilities, end of year
$16,569,572
Net assets or fund balances, end of year
$13,053,561
Program services expenses (Part IX)
$1,196,961
Management and general expenses
$39,067
Fundraising expenses
$0
Program service expenses (Part III)
$1,196,961

Program services were 96.8% 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.

  • 1d · Related organizations

    $283,664

  • 2a · Program service revenue: MASTER RENTAL INCOME

    total $309,096 · related or exempt $309,096

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $37,856 · management and general $37,856

  • 20 · Interest

    total $276,201 · program services $276,201

  • 22 · Depreciation, depletion and amortization

    total $920,760 · program services $920,760

  • 24a · Other expenses: BANK FEES

    total $1,211 · management and general $1,211

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $220,973 · end of year $148,540

  • 4 · Accounts receivable

    beginning of year $1,092,779 · end of year $1,401,875

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $14,461

  • 10a · Land, buildings and equipment: cost or other basis

    $31,909,087

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,278,815

  • 10c · Land, buildings and equipment, net

    beginning of year $28,518,681 · end of year $27,630,272

  • 15 · Other assets

    beginning of year $460,337 · end of year $427,985

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,039 · end of year $41,652

  • 19 · Deferred revenue

    beginning of year $8,749 · end of year $8,133

  • 23 · Secured mortgages and notes payable

    beginning of year $16,583,153 · end of year $16,519,787

  • 28 · Net assets with donor restrictions

    beginning of year $13,696,829 · end of year $13,053,561

Mission and programs · 2023

Mission

THE CORPORATION IS ORGANIZED AND AT TIMES THEREAFTER SHALL BE OPERATED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE TAX-EXEMPT PURPOSES OF THE CENTER OF CREATIVE ARTS (THE "SUPPORTED ORGANIZATION") UNDER SECTIONS 501(C)(3) AND 509(A)(3) OF THE INTERNAL REVENUE CODE OF 1986. THE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED INCLUDE, BUT ARE NOT LIMITED TO, THE FOLLOWING: TO RECEIVE GIFTS AND GRANTS AND TO USE SUCH GIFTS AND GRANTS FOR ITS PROPER PURPOSES, OR TO MAKE DISTRIBUTIONS THEREOF FOR PURPOSES AND ACTIVITIES THAT QUALIFY AS EXEMPT UNDER CODE SECTION 501(C)(3); AND TO OTHERWISE OPERATE IN SUPPORT OF AND IN FURTHERANCE OF THE TAX-EXEMPT PURPOSES OF THE SUPPORTED ORGANIZATION.

Activities or mission (Part I)

THE CORPORATION SUPPORTS THE CENTER OF CREATIVE ARTS UNDER SECTIONS 501(C)(3) AND 509(A)(3).

  • THE CORPORATION OPERATES EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE TAX-EXEMPT PURPOSES OF THE CENTER OF CREATIVE ARTS, (THE "SUPPORTED ORGANIZATION") BY HOLDING AND RENTING CERTAIN REAL PROPERTY TO THE SUPPORTED ORGANIZATION AS PART OF A NEW MARKET TAX CREDIT TRANSACTION, AND TO OTHERWISE SUPPORT THE TAX-EXEMPT PURPOSES OF THE SUPPORTED ORGANIZATION.

    Expenses $1,196,961 · Revenue $309,096

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tom Minogue

    SECRETARY

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Jesse Hunter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Margaret Schneithorst

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Shannon Sock

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Indigo Sams

    PRESIDENT & CEO

    Total calculated
    $261,111
    From this org
    $0
    From related orgs
    $243,032
    Other
    $18,079
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $218,032 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $2,588 related
    Nontaxable benefits
    $0 + $15,491 related
    Filer's total
    $0 + $261,111 related

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 3
THE COMPENSATION OF THE EXECUTIVE DIRECTOR OF COCA, A RELATED ORGANIZATION, IS DETERMINED AS FOLLOWS: AT THE END OF THE FISCAL YEAR, THE EXECUTIVE DIRECTOR PROVIDES A SELF-ASSESSMENT OF HER PERFORMANCE IN ACHIEVING HER ANNUAL GOALS TO THE BOARD PRESIDENT AND THE CHAIR OF THE HUMAN RESOURCES TASK FORCE. TOGETHER, THEY DISCUSS THE PERFORMANCE RESULTS AND PROVIDE FEEDBACK TO THE EXECUTIVE DIRECTOR. THE BOARD PRESIDENT AND HR CHAIR PROVIDE THIS INFORMATION TO THE EXECUTIVE COMMITTEE AND THEY COMPARE THE EXECUTIVE DIRECTOR'S COMPENSATION TO THE COMPENSATION FOR SIMILAR LEADERSHIP POSITIONS AT OTHER NON-PROFITS. THE DISCUSSION AND COMPARABLE DATA ARE DOCUMENTED IN WRITING. THE EXECUTIVE COMMITTEE THEN DETERMINES AND APPROVES THE EXECUTIVE DIRECTOR'S COMPENSATION AND PROVIDES ADDITIONAL PERFORMANCE FEEDBACK.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
24 April 2025
IRS schema version
2023v6.0
Source object
202501189349302220

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.