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Studio K Flamenco INC

Tax-deductible

Milwaukee, WI501(c)(3)Arts & CultureEIN 82-2692011Revenue $156K in FY2024

On file with the IRSstudiokflamenco.com3317 S Kinnickinnic Ave, 53207-3121 · Milwaukee, WITax-exempt since Mar 2018Publicly supported charity — 170(b)(1)(A)(vi)

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Studio K Flamenco is milwaukee's home for the Flamenco arts. With programs like tthe annual Flamenco nutcracker, the compas youth project and the Studio K presents performance series, Studio K is committed to furthering the art of Flamenco in milwaukee and beyond. Studio K works to preserve the cultural integrity of Flamenco by hosting visiting artists from spain, providing bilingual educational programs in schools and creating learning opportunities for all ages.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 6 volunteers.
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
2 of 3
filings with a surplus
Average surplus $14K a year · 15% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $22K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$156K
+95% vs prior year
Spent
$115K
To programs
90%
Net assets
$56K
By yearFY2021–FY2024
Revenue
$156K
FY2024▲ +95%
Tap a bar for its year
Revenue by fiscal year
FY2021$64K
FY2022$59K
FY2023$80K
FY2024$156K
Expenses
$115K
FY2024▲ +52%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$62K
FY2023$76K
FY2024$115K
Net assets
$56K
FY2024▲ +272%
Tap a bar for its year
Net assets by fiscal year
FY2021$9K
FY2022$11K
FY2023$15K
FY2024$56K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 2018.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $103K Management & general 2% · $2K Fundraising 8% · $9K

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
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Len Iaquinta
Board Member
$0Pt VII · Sec A
Fausto Jimenez
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Laskowski
Board Member
$0Pt VII · Sec A
See Studio K Flamenco INC 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 and preserves flamenco arts through performances, youth projects, and educational programs.

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Provided by the organization

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1 program · $103K · in their own filed words · FY2024
01

The flamengo nutcracker presented at the south milwaukee performing arts center and milwaukee public schools. Additional programs include ongoing clases for youth,adults and seniors, free community classes thoughout the year. Also workshops are given for special needs youth.

$103Kprogram expense

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
American Endowment FoundationFY2024$12K
New England Foundation for the Arts INCFY2024$10K
Total grants receivedfrom 2 funders$22K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$156K
Ln 12
Gifts and grantsLn 1h$113K
Fees for servicesLn 2g$43K
Investment incomeLn 3$32
Money outPt IX
$115K
Ln 25
Programscol B$103K
Managementcol C$2K
Fundraisingcol D$9K
Owns and owesPt X
$56K
net assets · Ln 32
Cash and savingsLn 1–2$64K
Total assetsLn 16$64K
LiabilitiesLn 26$8K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$113K
Fees for servicesLn 2g$43K
Investment incomeLn 3$32
Total revenueLn 12$156K
Assets in detailPt X, end of year
CashLn 1$13K
SavingsLn 2$51K
Cash and savings togetherLn 1–2$64K
Total assetsLn 16$64K
LiabilitiesLn 26$8K
Net assetsLn 32$56K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
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$12K$64K
Total assetsLn 16$23K$64K
LiabilitiesLn 26$8K$8K
Net assetsLn 32$15K$56K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$8K$8K
Accounting feesLn 11c$1K$1K
Professional fundraising feesLn 11e$1K$1K
Other fees for servicesLn 11g$42K$42K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$2K$2K
Information technologyLn 14$161$161
OccupancyLn 16$14K$14K
TravelLn 17$3K$3K
Other expenses (24a–d)Ln 24$36K$36K
All other expensesLn 24e$222$222
Total functional expensesLn 25$115K$103K$2K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $156K$115K$41K$56K 990 PDF
FY2023 $80K$76K$4K$15K 990 PDF
FY2022 $59K$62K−$2K$11K 990 PDF
FY2021 $64K$9K 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
See the full FY2024 990 (6 parts)
Part I · Summary $155,942 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $44,257$112,634
I-9 Program service revenuePrior year $35,511$43,276
I-10 Investment incomePrior year $28$32
I-11 Other revenue$0
I-12 Total revenuePrior year $79,796$155,942
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising feesPrior year $500$1,400
I-17 Other expensesPrior year $75,180$113,345
I-18 Total expensesPrior year $75,680$114,745
I-19 Revenue less expensesPrior year $4,116$41,197
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $155,942 across 5 lines filed
VIII-1a Federated campaigns$112,634
VIII-1h Total contributions, gifts and grants$112,634
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $43,276$43,276
VIII-3 Investment incomeRelated to mission $32$32
VIII-12 Total revenueRelated to mission $43,308$155,942
Part IX · Statement of functional expenses $114,745 across 11 lines filed
IX-11a Management feesFundraising $7,963$7,963
IX-11c Accounting feesPrograms $1,380$1,380
IX-11e Professional fundraising feesFundraising $1,400$1,400
IX-11g Other fees for servicesPrograms $42,274$42,274
IX-12 Advertising and promotionPrograms $6,812$6,812
IX-13 Office expensesManagement $1,885$1,885
IX-14 Information technologyPrograms $161$161
IX-16 OccupancyPrograms $14,414$14,414
IX-17 TravelPrograms $2,621$2,621
IX-24 Other expenses (24a–d)Programs $35,613$35,613
IX-24e All other expensesPrograms $222$222
IX-25 Total functional expensesPrograms $103,497 · Management $1,885 · Fundraising $9,363$114,745
Part X · Balance sheet $64,281 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $5,976$12,755
X-2 Savings and temporary cash investmentsStart of year $6,109$50,988
X-9 Prepaid expenses and deferred chargesStart of year $538$538
X-16 Total assetsStart of year $23,082$64,281
X-17 Accounts payable and accrued expensesStart of year $7,963$7,965
X-26 Total liabilitiesStart of year $7,963$7,965
X-32 Total net assets or fund balancesStart of year $15,119$56,316
X-33 Total liabilities and net assetsStart of year $23,082$64,281
Part XI · Reconciliation of net assets $56,316 net assets at year end
XI-1 Total revenue$155,942
XI-2 Total expenses$114,745
XI-3 Revenue less expenses$41,197
XI-4 Net assets at start of year$15,119
XI-10 Net assets at end of year$56,316

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

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