Civic Intelligence

Eta Creative Arts Foundation Inc

990 • Fiscal year 2020 • EIN 23-7157694

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 01, 2021

7558 S South Chicago AvenueChicago, IL 60619

(773) 752-3955

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.06x

Higher debt load relative to assets than 42% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

88th percentile

1.41x

Higher debt load relative to revenue than 88% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

3rd percentile

-130%

Higher net margin than 3% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

57th percentile

$75,000

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 41.5% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

20th percentile

-3.0%

Faster asset growth than 20% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

71st percentile

15%

Faster revenue growth than 71% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$4,440,946

Down $137,118 (-3.0%) from 2019

Net Assets

Down

$4,185,791

Down $235,509 (-5.3%) from 2019

Liabilities

Up

$255,155

Up $98,391 (+63%) from 2019

Revenue

Up

$180,517

Up $23,758 (+15%) from 2019

Expenses

Down

$416,026

Down $28,338 (-6.4%) from 2019

Net Income

Up

-$235,509

Up $52,096 (+18%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2012: $5,296,418Liabilities 2012: $333,239Net Assets 2012: $4,963,1792012Assets 2015: $4,942,631Liabilities 2015: $92,172Net Assets 2015: $4,850,4592015Assets 2016: $4,823,904Liabilities 2016: $64,588Net Assets 2016: $4,759,3162016Assets 2018: $4,759,408Liabilities 2018: $53,233Net Assets 2018: $4,706,1752018Assets 2019: $4,578,064Liabilities 2019: $156,764Net Assets 2019: $4,421,3002019Assets 2020: $4,440,946Liabilities 2020: $255,155Net Assets 2020: $4,185,7912020Assets 2021: $4,181,972Liabilities 2021: $139,481Net Assets 2021: $4,042,4912021Assets 2022: $3,678,838Liabilities 2022: $99,323Net Assets 2022: $3,579,5152022Assets 2023: $4,131,966Liabilities 2023: $597,477Net Assets 2023: $3,534,4892023Assets 2024: $5,038,263Liabilities 2024: $1,583,660Net Assets 2024: $3,454,6032024

Highlighted filing

2020

Assets$4,440,946
Liabilities$255,155
Net Assets$4,185,791

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2012: $1,051,9812012Revenue 2015: $992,265Expenses 2015: $486,239Net Income 2015: $506,0262015Revenue 2016: $278,299Expenses 2016: $396,685Net Income 2016: -$118,3862016Revenue 2018: $236,110Expenses 2018: $368,618Net Income 2018: -$132,5082018Revenue 2019: $156,759Expenses 2019: $444,364Net Income 2019: -$287,6052019Revenue 2020: $180,517Expenses 2020: $416,026Net Income 2020: -$235,5092020Revenue 2021: $607,383Expenses 2021: $366,146Net Income 2021: $241,2372021Revenue 2022: $158,445Expenses 2022: $499,454Net Income 2022: -$341,0092022Revenue 2023: $249,064Expenses 2023: $399,313Net Income 2023: -$150,2492023Revenue 2024: $226,219Expenses 2024: $363,543Net Income 2024: -$137,3242024

Highlighted filing

2020

Revenue$180,517
Expenses$416,026
Net Income-$235,509
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 1, 2021
Return Version
2020v4.1
Gross Receipts
$180,517
Mission and Program Overview

Mission

Eta creative arts foundation seeks to be a major cultural resource institution for the preservation, perpetuation and promulgation of the african american aesthetic in the city of chicago, the state of illinois and the nation toward this end, eta creative arts foundation shall provide professional opportunities by way of training and performance for the development of both youth and adults as artists, opportunities for playwrights to hone and have their works produced, work for artists and technicians, sales for visual artists through the gallery and exposure for the general public to authentic valid projections of african american life styles, experiences and aspirations.

Theatrical performances for the general public

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,800,000$3,729,882▼ $70,118
Pledges and Grants Receivable$644,396$616,086▼ $28,310
Cash and Non-Interest-Bearing Accounts$124,607$93,775▼ $30,832
Investments in Publicly Traded Securities$9,061$1,203▼ $7,858
Total Assets$4,578,064$4,440,946▼ $137,118
Liabilities
Accounts Payable and Accrued Expenses$140,387$172,478▲ $32,091
Other Liabilities$0$66,300▲ $66,300
Deferred Revenue$16,377$16,377→ $0
Total Liabilities$156,764$255,155▲ $98,391
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,704,604$3,410,367▼ $294,237
Net Assets With Donor Restrictions$716,696$775,424▲ $58,728
Total Net Assets Fund Balance$4,421,300$4,185,791▼ $235,509
Total Liabilities and Net Assets / Fund Balance$4,578,064$4,440,946▼ $137,118

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$3,631,852$400,769$4,032,621
Land$93,938-$93,938
Equipment$4,092$57,149$61,241
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
KAI EL' ZABARExecutive DirectorFT$75,000$75,000

Board Members and Trustees

NameTitle
David JonesDirector
Dorretta ParkerDirector
Eric GrantDirector
Jacueline SamuelDirector
Les BondDirector
Monifa ChandlerDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$173,716
Program Service Revenue
$5,086
Investment Income
$838
Other Revenue
$877
All Other Contributions
$145,521
Change in Net Assets
$-235,509
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$238,048
Salaries, Compensation, and Employee Benefits$177,978
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$53,966$23,129-$77,095
Current Officers, Directors, Trustees, and Key Employees$52,500$22,500-$75,000
Other Salaries and Wages$51,035$21,873-$72,908
Depreciation Depletion$50,889$21,811-$72,700
Payroll Taxes$17,389$7,453-$24,842
Fees for Services Accounting-$16,250-$16,250
Insurance$10,146$4,349-$14,495
Fees for Services Other$6,851$2,508-$9,359
Information Technology$3,932$1,685-$5,617
Other Employee Benefits$1,910$818-$2,728
Office Expenses$1,842$789-$2,631
Pension Plan Contributions$1,750$750-$2,500
Other Expenses$1,726$740-$2,466
Advertising$566$243-$809
All Other Expenses$85$505-$590
Travel$148$64-$212
Total Functional Expenses$282,559$133,467$0$416,026
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Loan$66,300
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The board of directors reviews the form 990 prior to filing with the internal revenue service.

Form 990, Part VI, Section B, Line 15

Executive salaries are reviewed annually and approved by the board based on current financial climate of the organization, performance reviews and industry averages.

Form 990, Part VI, Section C, Line 19

Eta creative arts foundation's documents are publicly available upon request or by inspection at the business office during business hours (monday to friday 10am to 6pm)

Filing and Contact Details

Filer

Filer Name
Eta Creative Arts Foundation
EIN
23-7157694
Phone
7737523955
Address
7558 S SOUTH CHICAGO AVENUE, CHICAGO, IL 60619

Signing Officer

Name
KAI EL' ZABAR
Title
Executive Director
Phone
7737523955
Signed
2021-11-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
KAI EL' ZABAR
Formed
1971
Legal Domicile
Il
Voting Board Members
7
Independent Board Members
6
Employees
2
Volunteers
17

Preparer

Firm
Wipfli Llp
Address
100 TRI-STATE INTERNATIONAL STE 300, LINCOLNSHIRE, IL 60069
Preparer
Steven P Kessler
Phone
8479410100
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

During the pandemic eta creative arts foundation produced its first virtual season. During the pandemic all productions were seen via online video instead of in person.

Financial Statement Notes

PART X, LINE 2:

The foundation is a not-for-profit organization that is exempt from income taxes under irc sec 501(c)(3) and is classified by the irs as other than a private foundation. Due to its tax-exempt status, the foundation is not subject to federal or state income taxes. Generally, the foundation is subject to income tax examinations by taxing authorities for the three-year period after filing its returns. The foundation is required to determine whether its tax positions are more likely than not to be sustained upon examination by the applicable taxing authority, based on the technical merits of the position. The tax benefit recognized is measured as the largest amount of benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authorities. Based on its analysis, the foundation has determined that it has not incurred any liability for unrecognized tax benefits as of december 31, 2020. The foundation does not expect that its assessment regarding unrecognized tax benefits will materially change over the next 12 months. The foundation's conclusions may be subject to review and adjustment at a later date based on factors including, but not limited to, questioning the timing and amount of deductions, the nexus of income among various tax jurisdictions, compliance with federal and state tax laws, and changes in the administrative practices and precedents of the relevant taxing authorities.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNDER IRC SEC 501(C)(3) AND IS CLASSIFIED BY THE IRS AS OTHER THAN A PRIVATE FOUNDATION. DUE TO ITS TAX-EXEMPT STATUS, THE FOUNDATION IS NOT SUBJECT TO FEDERAL OR STATE INCOME TAXES. GENERALLY, THE FOUNDATION IS SUBJECT TO INCOME TAX EXAMINATIONS BY TAXING AUTHORITIES FOR THE THREE-YEAR PERIOD AFTER FILING ITS RETURNS. THE FOUNDATION IS REQUIRED TO DETERMINE WHETHER ITS TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPLICABLE TAXING AUTHORITY, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFIT RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT WITH THE RELEVANT TAXING AUTHORITIES. BASED ON ITS ANALYSIS, THE FOUNDATION HAS DETERMINED THAT IT HAS NOT INCURRED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS AS OF DECEMBER 31, 2020. THE FOUNDATION DOES NOT EXPECT THAT ITS ASSESSMENT REGARDING UNRECOGNIZED TAX BENEFITS WILL MATERIALLY CHANGE OVER THE NEXT 12 MONTHS. THE FOUNDATION'S CONCLUSIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED ON FACTORS INCLUDING, BUT NOT LIMITED TO, QUESTIONING THE TIMING AND AMOUNT OF DEDUCTIONS, THE NEXUS OF INCOME AMONG VARIOUS TAX JURISDICTIONS, COMPLIANCE WITH FEDERAL AND STATE TAX LAWS, AND CHANGES IN THE ADMINISTRATIVE PRACTICES AND PRECEDENTS OF THE RELEVANT TAXING AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE PANDEMIC ETA CREATIVE ARTS FOUNDATION PRODUCED ITS FIRST VIRTUAL SEASON. DURING THE PANDEMIC ALL PRODUCTIONS WERE SEEN VIA ONLINE VIDEO INSTEAD OF IN PERSON.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWS THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EXECUTIVE SALARIES ARE REVIEWED ANNUALLY AND APPROVED BY THE BOARD BASED ON CURRENT FINANCIAL CLIMATE OF THE ORGANIZATION, PERFORMANCE REVIEWS AND INDUSTRY AVERAGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ETA CREATIVE ARTS FOUNDATION'S DOCUMENTS ARE PUBLICLY AVAILABLE UPON REQUEST OR BY INSPECTION AT THE BUSINESS OFFICE DURING BUSINESS HOURS (MONDAY TO FRIDAY 10AM TO 6PM)
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BusinessOfficerGrp/PersonNm0KAI EL' ZABAR
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07737523955
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ETA CREATIVE ARTS FOUNDATION

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