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Crea Foundation INC FY2022 filing

Tax-deductible

Indianapolis, IN501(c)(3)Since 2021EducationEIN 85-3787409Revenue $546K in FY2022

On file with the IRScreallc.com/foundation30 S Meridian St Ste 400, 46204-3565 · Indianapolis, INTax-exempt since Mar 2021Publicly supported charity — 170(b)(1)(A)(vi)

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Through strategic partnerships, Crea Foundation seeks to improve the lives of youth and young adults facing financial barriers to success in the communities we serve by creating opportunities to further their learning, development and education.

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $84K a year · 18% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
6 mo
of spending, in cash
Looks good: 6.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$405K
112% of total assets
Concern: liabilities are 112% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 10 voting members
Looks good: 9 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$546K
+178% vs prior year
Spent
$714K
To programs
77%
Net assets
−$43K
By yearFY2021–FY2025
Revenue
$546K
FY2022▲ +178%
Tap a bar for its year
Revenue by fiscal year
FY2021$197K
FY2022$546K
FY2023$538K
FY2024$554K
FY2025$484K
Expenses
$714K
FY2022▲ ×10
Tap a bar for its year
Expenses by fiscal year
FY2021$71K
FY2022$714K
FY2023$258K
FY2024$257K
FY2025$595K
Net assets
−$43K
FY2022▼ -134%
Tap a bar for its year
Net assets by fiscal year
FY2021$125K
FY2022−$43K
FY2023$237K
FY2024$534K
FY2025$422K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2021.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $547K Management & general 14% · $103K Fundraising 9% · $65K

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

10 people listed on the 990.

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
See Crea Foundation 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

Helps young people overcome financial barriers to learning, development, and education through partnerships.

Questions for Crea Foundation INC

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Provided by the organization

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1 program · $547K · in their own filed words · FY2022
01

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

$547Kprogram 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
Mht Housing INCFY2024$10K
Total grants receivedfrom 1 funder$10K
Grants paid · 5 grants · $995K · 2022–2025
Indiana University FoundationIN · FY2025$275,000
University of Connecticut Foundation IncorporatedCT · FY2025$194,250
Dr Richard Barnett Foundation INCNY · FY2024$5,500
California State University - Northridge FoundationCA · FY2022$260,000
Indiana University FoundationIN · FY2022$260,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$546K
Ln 12
Gifts and grantsLn 1h$583K
Investment incomeLn 3$1K
Money outPt IX
$714K
Ln 25
Programscol B$547K
Managementcol C$103K
Fundraisingcol D$65K
Owns and owesPt X
−$43K
net assets · Ln 32
Cash and savingsLn 1–2$362K
Total assetsLn 16$362K
LiabilitiesLn 26$405K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$583K
Fundraising eventsLn 1c$102K
Investment incomeLn 3$1K
Total revenueLn 12$546K
Assets in detailPt X, end of year
CashLn 1$362K
Cash and savings togetherLn 1–2$362K
Total assetsLn 16$362K
LiabilitiesLn 26$405K
Net assetsLn 32−$43K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY22End FY22
Cash and savingsLn 1–2$197K$362K
Total assetsLn 16$214K$362K
LiabilitiesLn 26$88K$405K
Net assetsLn 32$125K−$43K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$520K$520K
Legal feesLn 11b$4K$4K
Accounting feesLn 11c$11K$11K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$2K$2K$240
Information technologyLn 14$12K$7K$4K$2K
TravelLn 17$10K$7K$3K
Conferences, conventions and meetingsLn 19$5K$5K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$139K$9K$69K$61K
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$714K$547K$103K$65K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $484K$595K−$112K$422K 990 PDF
FY2024 $554K$257K$297K$534K 990 PDF
FY2023 $538K$258K$280K$237K 990 PDF
FY2022 Viewing $546K$714K−$168K−$43K 990 PDF
FY2021 $197K$71K$125K$125K 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 FY2022 990 (6 parts)
Part I · Summary $546,041 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $196,659$583,349
I-9 Program service revenue$0
I-10 Investment incomePrior year $45$1,286
I-11 Other revenue−$38,594
I-12 Total revenuePrior year $196,704$546,041
I-13 Grants and similar amounts paid$520,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $71,205$194,237
I-18 Total expensesPrior year $71,205$714,237
I-19 Revenue less expensesPrior year $125,499−$168,196
Part VI · Governance 9 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members9
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 $546,041 across 7 lines filed
VIII-1c Fundraising events$102,125
VIII-1d Related organizations$261,072
VIII-1f All other contributions, gifts and grants$220,152
VIII-1h Total contributions, gifts and grants$583,349
VIII-3 Investment incomeExcluded from tax $1,286$1,286
VIII-8 Net income from fundraising events−$38,594
VIII-12 Total revenueExcluded from tax $1,286$546,041
Part IX · Statement of functional expenses $714,237 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $520,000$520,000
IX-11b Legal feesManagement $3,582$3,582
IX-11c Accounting feesManagement $11,200$11,200
IX-12 Advertising and promotionManagement $8,689$8,689
IX-13 Office expensesPrograms $1,944 · Management $240$2,184
IX-14 Information technologyPrograms $6,600 · Management $3,900 · Fundraising $1,700$12,200
IX-17 TravelPrograms $7,410 · Fundraising $2,684$10,094
IX-19 Conferences, conventions and meetingsManagement $5,048$5,048
IX-23 InsuranceManagement $1,250$1,250
IX-24 Other expenses (24a–d)Programs $9,391 · Management $68,817 · Fundraising $60,583$138,791
IX-24e All other expensesPrograms $1,199$1,199
IX-25 Total functional expensesPrograms $546,544 · Management $102,726 · Fundraising $64,967$714,237
Part X · Balance sheet $362,303 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $196,704$362,278
X-4 Accounts receivable$25
X-16 Total assetsStart of year $213,854$362,303
X-17 Accounts payable and accrued expensesStart of year $88,355$130,000
X-25 Other liabilities$275,000
X-26 Total liabilitiesStart of year $88,355$405,000
X-27 Net assets without donor restrictionsStart of year $125,499−$42,697
X-32 Total net assets or fund balancesStart of year $125,499−$42,697
X-33 Total liabilities and net assetsStart of year $213,854$362,303
Part XI · Reconciliation of net assets −$42,697 net assets at year end
XI-1 Total revenue$546,041
XI-2 Total expenses$714,237
XI-3 Revenue less expenses−$168,196
XI-4 Net assets at start of year$125,499
XI-10 Net assets at end of year−$42,697

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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