Akron Soul Train EIN 81-1199928 Form 990 (PDF) Claim this org

Akron Soul Train

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Promotes diverse artistic expression through exhibitions, performances, and workshops, engaging the community in the arts. For fiscal year 2024 it reported $138K in revenue, $177K in expenses, and $8K in net assets.Pt I

Type
Public charity (501(c)(3)) · Arts & Culture
Location
Akron, OH
Website
akronsoultrain.org
Filings
5 on file (2020–2024)
Revenue
$138KFY2024
Expenses
$177K
Net assets
$8K
People
7
Filings
5
Updates
0
More identity details & actions ⌄
EIN  81-1199928 Public charity (501(c)(3)) Akron, OH
Form 990 (PDF)
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Size
$100K–1M
What they do
Promotes diverse artistic expression through exhibitions, performances, and workshops, engaging the community in the arts.
Leadership
Nancy Brennan · President
Money in and out
$138K revenue, $177K expenses
Bottom line
43% program efficiency
Where the money goes · FY2024
Total revenue
$138K
Pt VIII · Ln 12
Total expenses
$177K
Pt IX · Ln 25
Net assets
$8K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$39K
Where spending went · Part IX cols B–D
Program services $0.43 Management & general $0.19 Fundraising $0.38
Program efficiency
43%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
0.4mo
months of highly liquid reserves at operating expense rate▼ -76% vs prior filing year
Surplus margin
-28%
revenue over expenses, this year▲ +5% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$138K
FY2024▲ +27%
Expenses
$177K
FY2024▲ +25%
Total assets
$78K
FY2024▼ -24%
Total liabilities
$70K
FY2024▲ +43%
Total revenue
$138K
Pt VIII · Ln 12
Total expenses
$177K
Pt IX · Ln 25
Net assets
$8K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$39K
Total assetsPt X · Ln 16$78K
Program-expense ratioPt IX · col B43%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

1 program service account for $75K of program spending, described in the organization's 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

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAkron Soul Train
EINHdr · item D81-1199928
Principal addressHdr · item CAkron, OH
WebsiteHdr · item Jakronsoultrain.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MOH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A99)
Ruling yearIRS BMFFeb 2016

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$123K · 89%
Other revenue$10K · 7%
Program service revenue$3K · 2%
Investment income$2K · 1%
Contributions & grants89%$123K
Other revenue7%$10K
Program service revenue2%$3K
Investment income1%$2K
— government grantsLn 1e$16K
Total revenueLn 12$138K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.43 Management & general $0.19 Fundraising $0.38
Program services43%$75K
Management & general19%$34K
Fundraising38%$68K
Total functional expensesLn 25$177K

Balance Sheet

Part X · end of year
CashLn 1$6K
Total assetsLn 16$78K
Total liabilitiesLn 26$70K
Total net assetsLn 32$8K
Months of cash on handcomputed0.4

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6K · Operating expenses/yr $177K
0.4 months
Where the money goes
Program services
Program services $75K · Total expenses $177K
43%
Management & General
Management & general $34K · Total expenses $177K
19%
Fundraising
Fundraising $68K · Total expenses $177K
38%
Cost to raise $1
Fundraising expense (3-yr avg) $53K · Solicited contributions (3-yr avg) $102K
$0.52 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $123K · Total revenue $138K
89%
Government reliance
Government grants $16K · Total revenue $138K
11%
Earned-income share
Program service revenue $3K · Total revenue $138K
2%
Investment reliance
Investment income $2K · Total revenue $138K
+1%
Program self-sufficiency
Program service revenue $3K · Total expenses $177K
2%
Growth & trend
Revenue growth (YoY)
This year $138K · Prior year $109K
+27%
Revenue CAGR
FY2020 $90K · FY2024 $138K
+11%
Net-asset trend (YoY)
End of year $8K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $138K · Expenses $177K
-28%
Liabilities-to-Assets
Total liabilities — · Total assets $78K
Net-asset ratio
Net assets $8K · Total assets $78K
10%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $78K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Nancy Brennan · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $177K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $91K · Total expenses $177K
51%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 43%
Overhead ratio 19%
Fundraising cost ratio 55%
Revenue growth 27%
Accounting fee ratio 3%

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.

Grants

Schedule I · received and paid
Grants received · FY2024
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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$138K revenue · viewing · ⤓ 990 PDF
FY2023$109K revenue · ⤓ 990 PDF
FY2022$115K revenue · ⤓ 990 PDF
FY2021$90K revenue · ⤓ 990 PDF
FY2020$90K revenue · ⤓ 990 PDF

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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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