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Crea Foundation INC EIN 85-3787409 Form 990 (PDF) Claim this org

Crea Foundation INC

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Helps young people overcome financial barriers to learning, development, and education through partnerships. For fiscal year 2024 it reported $554K in revenue, $257K in expenses, and $534K in net assets.Pt I

Type
Public charity (501(c)(3)) · Education
Location
Indianapolis, IN
Website
creallc.com/foundation
Filings
4 on file (2021–2024)
Revenue
$554KFY2024
Expenses
$257K
Net assets
$534K
People
11
Filings
4
Updates
0
More identity details & actions ⌄
EIN  85-3787409 Public charity (501(c)(3)) Indianapolis, IN
Form 990 (PDF)
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Size
$100K–1M
What they do
Helps young people overcome financial barriers to learning, development, and education through partnerships.
Leadership
Arvetta Jideonwo · Executive Di
Money in and out
$554K revenue, $257K expenses
Bottom line
6% program efficiency
Where the money goes · FY2024
Total revenue
$554K
Pt VIII · Ln 12
Total expenses
$257K
Pt IX · Ln 25
Net assets
$534K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $297K
Where spending went · Part IX cols B–D
Program services $0.06 Management & general $0.51 Fundraising $0.43
Program efficiency
6%
of spending reaches programs▲ +9% vs prior filing year
Operating runway
29.9mo
months of highly liquid reserves at operating expense rate▲ +37% vs prior filing year
Surplus margin
+54%
revenue over expenses, this year▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$554K
FY2024▲ +3%
Expenses
$257K
FY2024-0.2%
Total assets
$641K
FY2024▲ +13%
Total liabilities
$107K
FY2024▼ -68%
Total revenue
$554K
Pt VIII · Ln 12
Total expenses
$257K
Pt IX · Ln 25
Net assets
$534K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$297K
Total assetsPt X · Ln 16$641K
Program-expense ratioPt IX · col B6%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCrea Foundation INC
EINHdr · item D85-3787409
Principal addressHdr · item CIndianapolis, IN
WebsiteHdr · item Jcreallc.com/foundation
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFMar 2021

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aNo
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
Arvetta Jideonwo
Executive Di
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $17K of program spending, described in the organization's own filed words · FY2024.
01

Raise, hold, administer, and expense resources to support and fund scholarships or grants to residents of low-income housing communities

$17Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$570K · 103%
Investment income$25K · 5%
Contributions & grants103%$570K
Investment income5%$25K
Total revenueLn 12$554K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.06 Management & general $0.51 Fundraising $0.43
Program services6%$17K
Management & general51%$130K
Fundraising43%$111K
Total functional expensesLn 25$257K

Balance Sheet

Part X · end of year
CashLn 1$641K
Total assetsLn 16$641K
Total liabilitiesLn 26$107K
Total net assetsLn 32$534K
Months of cash on handcomputed29.9

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $641K · Operating expenses/yr $257K
29.9 months
Where the money goes
Program services
Program services $17K · Total expenses $257K
6%
Management & General
Management & general $130K · Total expenses $257K
51%
Fundraising
Fundraising $111K · Total expenses $257K
43%
Cost to raise $1
Fundraising expense (3-yr avg) $95K · Solicited contributions (3-yr avg) $577K
$0.16 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $570K · Total revenue $554K
103%
Government reliance
Government grants — · Total revenue $554K
—
Earned-income share
Program service revenue $0 · Total revenue $554K
0%
Investment reliance
Investment income $25K · Total revenue $554K
+5%
Program self-sufficiency
Program service revenue $0 · Total expenses $257K
0%
Growth & trend
Revenue growth (YoY)
This year $554K · Prior year $538K
+3%
Net-asset trend (YoY)
End of year $534K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $554K · Expenses $257K
+54%
Liabilities-to-Assets
Total liabilities — · Total assets $641K
—
Net-asset ratio
Net assets $534K · Total assets $641K
83%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $641K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Arvetta Jideonwo · Reported title EXECUTIVE DI · Highest reported compensation $0 · Total expenses $257K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $257K
—
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 6%——
Overhead ratio 51%——
Fundraising cost ratio 19%——
Revenue growth 3%——
Accounting fee ratio 8%——

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
Mht Housing INCFY2024$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 3 grants · $526K · 2022–2024
Dr Richard Barnett Foundation INCNY · FY2024$5,500
California State University - Northridge FoundationCA · FY2022$260,000
Indiana University FoundationIN · FY2022$260,000

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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)$554K revenue · viewing · ⤓ 990 PDF
FY2023$538K revenue · ⤓ 990 PDF
FY2022$546K revenue · ⤓ 990 PDF
FY2021$197K 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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