Creative Minds Nyc INC FY2024 filing

New York, NY · Public charity (501(c)(3)) · Since 2004 · Arts & Culture

✓ Tax-deductible
Revenue
$995K
+8% vs prior year
Spent
$973K
To programs
77%
Net assets
$659K
By yearFY2020–FY2024
Revenue
$995K
FY2024▲ +8%
Revenue by fiscal year
FY2020$516K
FY2021$709K
FY2022$954K
FY2023$925K
FY2024$995K
FY2024$999K
Expenses
$973K
FY2024▲ +3%
Expenses by fiscal year
FY2020$584K
FY2021$655K
FY2022$742K
FY2023$944K
FY2024$973K
FY2024$1.1M
Net assets
$659K
FY2024▲ +3%
Net assets by fiscal year
FY2020$234K
FY2021$288K
FY2022$656K
FY2023$637K
FY2024$659K
FY2024$600K

From the FY2024 Form 990 (year ending June 2024) · see the original

You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CCreative Minds Nyc INC
EINHdr · item D02-0720786
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFApr 2006
Year of formationHdr · item L2004
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CNew York, NY
NTEE classificationIRS BMFArts & Culture (A65)

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.20 Fundraising $0.03
Program services77%$746K
Management & general20%$199K
Fundraising3%$28K
Total functional expensesLn 25$973K

Financial health

Is it on solid ground?

Program efficiency
77%
of spending reaches programs
Operating runway
8.2mo
months of highly liquid reserves at operating expense rate
Surplus margin
+2%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$714K
FY2024▲ +5%
Total assets by fiscal year
FY2020$342K
FY2021$485K
FY2022$689K
FY2023$678K
FY2024$714K
FY2024$655K
Total liabilities
$55K
FY2024▲ +33%
Total liabilities by fiscal year
FY2020$108K
FY2021$197K
FY2022$33K
FY2023$41K
FY2024$55K
FY2024$55K
Revenue less expensesPt I · Ln 19$22K
Total assetsPt X · Ln 16$714K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415

Balance Sheet

Part X · end of year
CashLn 1$666K
Total assetsLn 16$714K
Total liabilitiesLn 26$55K
Total net assetsLn 32$659K
Months of cash on handcomputed8.2

Statement of Revenue

Part VIII
Contributions & grants$973K · 98%
Program service revenue$22K · 2%
Contributions & grants98%$973K
Program service revenue2%$22K
— government grantsLn 1e$168K
Total revenueLn 12$995K

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $666K · Operating expenses (Pt IX) $973K · Less non-cash grants $1K · Cash operating expenses/yr $971K
8.2 months
Where the money goes
Program services
Program services $746K · Total expenses $973K
77%
Management & General
Management & general $199K · Total expenses $973K
20%
Fundraising
Fundraising $28K · Total expenses $973K
3%
Cost to raise $1
Fundraising expense (3-yr avg) $28K · Solicited contributions (3-yr avg) $796K
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $973K · Total revenue $995K
98%
Government reliance
Government grants $168K · Total revenue $995K
17%
Earned-income share
Program service revenue $22K · Total revenue $995K
2%
Investment reliance
Investment income $0 · Total revenue $995K
0%
Program self-sufficiency
Program service revenue $22K · Total expenses $973K
2%
Growth & trend
Revenue growth (YoY)
This year $995K · Prior year $925K
+8%
Revenue CAGR
FY2019 $516K · FY2023 $995K
+18%
Net-asset trend (YoY)
End of year $659K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $995K · Expenses $973K
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $714K
—
Net-asset ratio
Net assets $659K · Total assets $714K
92%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $714K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Charles Russo · Reported title CHAIRMAN & PRESIDENT · Highest reported compensation $0 · Total expenses $973K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $546K · Total expenses $973K
56%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 20%——
Fundraising cost ratio 3%——
Revenue growth 8%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chairman & President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Creative Minds Nyc INC executive salaries →

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Governance & Policies

Part VI
  • 15Voting board membersPt VI · Ln 1a
  • 15Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aNo
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Adapts children's stories into performances and teaches creative writing to underserved youth.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $746K of program spending, described in the organization's own filed words · FY2023.
01

Creative minds nyc inc. Creates opportunities for children to write stories and gain literacy skills. The organization provides resources to elementary schools, both in-person and digitally, to celebrate kids' own self expression and to offer positive reinforcement to young people as they gain the tools to become creative thinkers and…

$746Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 Viewing $995K$973K+8% 990 PDF
FY2023 $925K$944K-3% 990 PDF
FY2022 $954K$742K+34% 990 PDF
FY2021 $709K$655K+38% 990 PDF
FY2020 $516K$584K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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