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Akron Soul Train

Tax-deductible

Akron, OH501(c)(3)Arts & Culture EIN 81-1199928Revenue $138K in FY2024

On file with the IRSakronsoultrain.org121 S Main St, 44308-1415 · Akron, OHTax-exempt since Feb 2016Publicly supported — 509(a)(2)

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Akron Soul Train will be a nationally renowned northeast ohio multidisciplinary art program serving as a magnet to attract and promote diverse artists and artistic expression. We will be a catalyst for the arts, offering an opportunity for greater Akron residents to engage with artists and participate in the artistic process. In alliance with other community organizations, we will inspire the minds and lives of artists and our various audiences. In 2019, Akron Soul Train established a permanent gallery space on south main street in the heart of akron's downtown arts district, giving the community more opportunities to view and participate in visual art exhibitions, performances and workshops of our resident artists. Then in 2020, after the pandemic shut-down, Akron Soul Train expanded its focus and opened an inner gallery space called the capsoul gallery for emerging artists and community projects.

501(c)(3) charity; gifts are tax-deductible.
43¢ of each $1 spent went to programs.
Run by 15 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $24K a year · 22% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
43%
of spending
Concern: 43% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $26K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$70K
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$138K
+27% vs prior year
Spent
$177K
To programs
43%
Net assets
$8K
By yearFY2020–FY2024
Revenue
$138K
FY2024▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2020$90K
FY2021$90K
FY2022$115K
FY2023$109K
FY2024$138K
Expenses
$177K
FY2024▲ +25%
Tap a bar for its year
Expenses by fiscal year
FY2020$107K
FY2021$114K
FY2022$121K
FY2023$141K
FY2024$177K
Net assets
$8K
FY2024▼ -85%
Tap a bar for its year
Net assets by fiscal year
FY2020$115K
FY2021$92K
FY2022$85K
FY2023$54K
FY2024$8K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2016.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

43 cents of each dollar spent went to programs.

Program services 43% · $75K Management & general 19% · $34K Fundraising 38% · $68K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Nancy Brennan
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jill Bacon Madden
Vice-Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Akron Soul Train executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes diverse artistic expression through exhibitions, performances, and workshops, engaging the community in the arts.

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1 program · $75K · in their own filed words · FY2024
01

Since its inception in 2016, akron soul train has awarded paid residencies to 86 artists and supported an additional 20 through projects created for our capsoul gallery. To amplify artists' voices and engage our broader community, we produce interdisciplinary programs alongside the 12 artist- led initiatives we host annually.

$75Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Akron Community FoundationFY2024$8K
Lehner Family FoundationFY2024$7K
Richard and Alita Rogers Family FoundationFY2024$6K
Bmd FoundationFY2024$5K
Total grants receivedfrom 4 funders$26K
See all 4 funders →
Grants paid · 6 grants · $75K · 2020–2024
Unitemized GrantFY2024$15,500
Unitemized GrantFY2023$13,500
Unitemized GrantFY2022$12,000
Unitemized GrantFY2021$14,000
Unitemized GrantFY2020$15,000
Unitemized GrantFY2020$4,600

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$138K
Ln 12
Gifts and grantsLn 1h$123K
Other incomeLn 4–11$10K
Fees for servicesLn 2g$3K
Money outPt IX
$177K
Ln 25
Programscol B$75K
Managementcol C$34K
Fundraisingcol D$68K
Owns and owesPt X
$8K
net assets · Ln 32
Cash and savingsLn 1–2$6K
Total assetsLn 16$78K
LiabilitiesLn 26$70K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$123K
Government grantsLn 1e$16K
Fees for servicesLn 2g$3K
Investment incomeLn 3$2K
Other incomeLn 4–11$10K
Total revenueLn 12$138K
Assets in detailPt X, end of year
CashLn 1$6K
Cash and savings togetherLn 1–2$6K
Land, buildings, equipmentLn 10c$44K
Other assetsLn 15$11K
Total assetsLn 16$78K
LiabilitiesLn 26$70K
Net assetsLn 32$8K
OperationsPt I, VI
EmployeesI 53
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$18K$6K
Land, buildings, equipmentLn 10c$44K$44K
Total assetsLn 16$103K$78K
LiabilitiesLn 26$49K$70K
Net assetsLn 32$54K$8K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$16K$16K
Other salaries and wagesLn 7$85K$32K$12K$41K
Payroll taxesLn 10$6K$2K$853$3K
Management feesLn 11a$14K$3K$9K$3K
Accounting feesLn 11c$5K$306$4K$385
Other fees for servicesLn 11g$11K$8K$2K$2K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$3K$1K$463$2K
TravelLn 17$417$417
Conferences, conventions and meetingsLn 19$3K$3K
Depreciation, depletion and amortizationLn 22$273$191$82
InsuranceLn 23$3K$1K$452$2K
Other expenses (24a–d)Ln 24$28K$6K$6K$16K
All other expensesLn 24e$497$389$55$53
Total functional expensesLn 25$177K$75K$34K$68K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $138K$177K−$39K$8K 990 PDF
FY2023 $109K$141K−$32K$54K 990 PDF
FY2022 $115K$121K−$6K$85K 990 PDF
FY2021 $90K$114K−$24K$92K 990 PDF
FY2020 $90K$107K−$17K$115K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $138,128 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $112,967$122,676
I-9 Program service revenuePrior year $3,258$3,299
I-10 Investment income$2,070
I-11 Other revenuePrior year −$7,383$10,083
I-12 Total revenuePrior year $108,842$138,128
I-13 Grants and similar amounts paidPrior year $13,500$15,500
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $85,393$90,650
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $42,086$70,591
I-18 Total expensesPrior year $140,979$176,741
I-19 Revenue less expensesPrior year −$32,137−$38,613
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $138,128 across 9 lines filed
Lines not itemized here account for $2,648 of total revenue; see the IRS return.
VIII-1b Membership dues$1,260
VIII-1e Government grants$15,643
VIII-1f All other contributions, gifts and grants$105,773
VIII-1h Total contributions, gifts and grants$122,676
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,299$3,299
VIII-3 Investment incomeExcluded from tax $2,070$2,070
VIII-8 Net income from fundraising eventsExcluded from tax $7,282$7,282
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $153$153
VIII-12 Total revenueRelated to mission $6,100 · Excluded from tax $9,352$138,128
Part IX · Statement of functional expenses $176,741 across 14 lines filed
IX-2 Grants to domestic individualsPrograms $15,500$15,500
IX-7 Other salaries and wagesPrograms $32,131 · Management $11,838 · Fundraising $40,587$84,556
IX-10 Payroll taxesPrograms $2,316 · Management $853 · Fundraising $2,925$6,094
IX-11a Management feesPrograms $2,840 · Management $8,519 · Fundraising $2,840$14,199
IX-11c Accounting feesPrograms $306 · Management $3,872 · Fundraising $385$4,563
IX-11g Other fees for servicesPrograms $7,934 · Management $1,634 · Fundraising $1,634$11,202
IX-12 Advertising and promotionPrograms $1,274$1,274
IX-13 Office expensesPrograms $1,258 · Management $463 · Fundraising $1,589$3,310
IX-17 TravelPrograms $417$417
IX-19 Conferences, conventions and meetingsPrograms $3,148$3,148
IX-22 Depreciation, depletion and amortizationPrograms $191 · Management $82$273
IX-23 InsurancePrograms $1,228 · Management $452 · Fundraising $1,551$3,231
IX-24 Other expenses (24a–d)Programs $6,359 · Management $6,120 · Fundraising $15,998$28,477
IX-24e All other expensesPrograms $389 · Management $55 · Fundraising $53$497
IX-25 Total functional expensesPrograms $75,291 · Management $33,888 · Fundraising $67,562$176,741
Part X · Balance sheet $77,695 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $18,266$6,216
X-3 Pledges and grants receivableStart of year $22,126$7,158
X-8 Inventories for sale or useStart of year $5,000$6,460
X-9 Prepaid expenses and deferred chargesStart of year $1,577$1,577
X-10c Land, buildings and equipment, netStart of year $43,757$43,650
X-14 Intangible assetsStart of year $1,319$1,153
X-15 Other assetsStart of year $10,519$11,481
X-16 Total assetsStart of year $102,564$77,695
X-17 Accounts payable and accrued expensesStart of year $48,747$69,569
X-26 Total liabilitiesStart of year $48,747$69,569
X-27 Net assets without donor restrictionsStart of year $43,298−$3,355
X-28 Net assets with donor restrictionsStart of year $10,519$11,481
X-32 Total net assets or fund balancesStart of year $53,817$8,126
X-33 Total liabilities and net assetsStart of year $102,564$77,695
Part XI · Reconciliation of net assets $8,126 net assets at year end
XI-1 Total revenue$138,128
XI-2 Total expenses$176,741
XI-3 Revenue less expenses−$38,613
XI-4 Net assets at start of year$53,817
XI-5 Net unrealized gains (losses) on investments$962
XI-8 Prior period adjustments−$8,040
XI-10 Net assets at end of year$8,126

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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