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Akron Soul Train FY2020 filing

Tax-deductible

Akron, OH501(c)(3)Arts & CultureEIN 81-1199928Revenue $90K in FY2020

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.
53¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · 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
53%
of spending
Worth a look: 53% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
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
$34K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$90K
Spent
$107K
To programs
53%
Net assets
$115K
By yearFY2020–FY2024
Revenue
$90K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$90K
FY2021$90K
FY2022$115K
FY2023$109K
FY2024$138K
Expenses
$107K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$107K
FY2021$114K
FY2022$121K
FY2023$141K
FY2024$177K
Net assets
$115K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$115K
FY2021$92K
FY2022$85K
FY2023$54K
FY2024$8K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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

53 cents of each dollar spent went to programs.

Program services 53% · $57K Management & general 16% · $17K Fundraising 31% · $33K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Nancy Brennan
President
$0Pt VII · Sec A
Jenny Frantz
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jill Bacon Madden
Vice-Preside
$0Pt VII · Sec A
Howard Parr
Director
$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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Provided by the organization

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1 program · $57K · in their own filed words · FY2020
01

Artists in residence akron soul train has awarded 49 artists with residencies since its inception. The akron soul train selection committee scores artists on the innovativeness of their work proposal, originality of their community engagement component and quality of past work in order to bring to the akron community top-notch cultural…

$57Kprogram 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 FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$90K
Ln 12
Gifts and grantsLn 1h$89K
Other incomeLn 4–11$589
Money outPt IX
$107K
Ln 25
Programscol B$57K
Managementcol C$17K
Fundraisingcol D$33K
Owns and owesPt X
$115K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$149K
LiabilitiesLn 26$34K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$89K
Government grantsLn 1e$10K
Noncash giftsLn 1g$125
Fundraising eventsLn 1c$2K
Other incomeLn 4–11$589
Total revenueLn 12$90K
Assets in detailPt X, end of year
CashLn 1$17K
Cash and savings togetherLn 1–2$17K
Land, buildings, equipmentLn 10c$52K
Total assetsLn 16$149K
LiabilitiesLn 26$34K
Net assetsLn 32$115K
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 FY20End FY20
Cash and savingsLn 1–2$21K$17K
Land, buildings, equipmentLn 10c$52K$52K
Total assetsLn 16$165K$149K
LiabilitiesLn 26$33K$34K
Net assetsLn 32$132K$115K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$20K$20K
Other salaries and wagesLn 7$61K$24K$8K$29K
Management feesLn 11a$9K$2K$5K$2K
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$3K$3K
Advertising and promotionLn 12$542$542
Office expensesLn 13$2K$822$290$1K
Depreciation, depletion and amortizationLn 22$4K$3K$1K
InsuranceLn 23$2K$759$268$947
Other expenses (24a–d)Ln 24$4K$3K$500
All other expensesLn 24e$452$452
Total functional expensesLn 25$107K$57K$17K$33K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $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 Viewing $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 FY2020 990 (6 parts)
Part I · Summary $89,883 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $79,220$89,294
I-9 Program service revenuePrior year $1,430$0
I-10 Investment income$0
I-11 Other revenue$589
I-12 Total revenuePrior year $80,650$89,883
I-13 Grants and similar amounts paidPrior year $9,500$19,600
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $50,933$61,233
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $34,861$26,282
I-18 Total expensesPrior year $95,294$107,115
I-19 Revenue less expensesPrior year −$14,644−$17,232
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $89,883 across 8 lines filed
Lines not itemized here account for $2,162 of total revenue; see the IRS return.
VIII-1b Membership dues$4,006
VIII-1c Fundraising events$1,592
VIII-1e Government grants$9,600
VIII-1f All other contributions, gifts and grants$74,096
VIII-1g Noncash contributions (included above)$125
VIII-1h Total contributions, gifts and grants$89,294
VIII-8 Net income from fundraising events−$1,573
VIII-12 Total revenueExcluded from tax $2,162$89,883
Part IX · Statement of functional expenses $107,115 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $19,600$19,600
IX-7 Other salaries and wagesPrograms $23,550 · Management $8,316 · Fundraising $29,367$61,233
IX-11a Management feesPrograms $1,721 · Management $5,164 · Fundraising $1,721$8,606
IX-11c Accounting feesManagement $1,230$1,230
IX-11g Other fees for servicesPrograms $3,227$3,227
IX-12 Advertising and promotionPrograms $542$542
IX-13 Office expensesPrograms $822 · Management $290 · Fundraising $1,025$2,137
IX-22 Depreciation, depletion and amortizationPrograms $3,169 · Management $1,315$4,484
IX-23 InsurancePrograms $759 · Management $268 · Fundraising $947$1,974
IX-24 Other expenses (24a–d)Programs $3,130 · Management $500$3,630
IX-24e All other expensesPrograms $452$452
IX-25 Total functional expensesPrograms $56,972 · Management $17,083 · Fundraising $33,060$107,115
Part X · Balance sheet $149,398 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $21,398$16,689
X-3 Pledges and grants receivableStart of year $82,169$71,885
X-8 Inventories for sale or useStart of year $6,460$5,000
X-9 Prepaid expenses and deferred chargesStart of year $1,577$1,577
X-10c Land, buildings and equipment, netStart of year $51,611$52,428
X-14 Intangible assetsStart of year $1,986$1,819
X-16 Total assetsStart of year $165,201$149,398
X-17 Accounts payable and accrued expensesStart of year $33,369$34,078
X-26 Total liabilitiesStart of year $33,369$34,078
X-27 Net assets without donor restrictionsStart of year $131,832$59,485
X-28 Net assets with donor restrictions$55,835
X-32 Total net assets or fund balancesStart of year $131,832$115,320
X-33 Total liabilities and net assetsStart of year $165,201$149,398
Part XI · Reconciliation of net assets $115,320 net assets at year end
XI-1 Total revenue$89,883
XI-2 Total expenses$107,115
XI-3 Revenue less expenses−$17,232
XI-4 Net assets at start of year$131,832
XI-8 Prior period adjustments$720
XI-10 Net assets at end of year$115,320

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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