Civic Intelligence

Cadets Arts and Entertainment Inc

EIN 85-0545477 • 501(c)3 • Erie, PA

Profile

Leadership innovation excellence and community through arts and education helping students achieve their potential as individuals and as citizens of the world.

8155 Oliver RoadErie, PA 16509

www.cadets.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

88th percentile

0.68x

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

501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

69th percentile

0.23x

Higher debt load relative to revenue than 69% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

17th percentile

-15%

Higher net margin than 17% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

52nd percentile

$65,000

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

12th percentile

-16%

Faster asset growth than 12% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

79th percentile

40%

Faster revenue growth than 79% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Down

$611,269

Down $118,214 (-16%) from 2021

Liabilities

Up

$413,810

Up $163,413 (+65%) from 2021

Net Assets

Down

$197,459

Down $281,627 (-59%) from 2021

Revenue

Up

$1,827,091

Up $520,760 (+40%) from 2021

Expenses

Up

$2,108,718

Up $1,040,609 (+97%) from 2021

Net Income

Down

-$281,627

Down $519,849 (-218%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0M$500K$0Assets 2020: $852,808Liabilities 2020: $558,308Net Assets 2020: $294,5002020Assets 2021: $729,483Liabilities 2021: $250,397Net Assets 2021: $479,0862021Assets 2022: $611,269Liabilities 2022: $413,810Net Assets 2022: $197,4592022

Highlighted filing

2022

Assets$611,269
Liabilities$413,810
Net Assets$197,459

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $644,454Expenses 2020: $411,164Net Income 2020: $233,2902020Revenue 2021: $1,306,331Expenses 2021: $1,068,109Net Income 2021: $238,2222021Revenue 2022: $1,827,091Expenses 2022: $2,108,718Net Income 2022: -$281,6272022

Highlighted filing

2022

Revenue$1,827,091
Expenses$2,108,718
Net Income-$281,627

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Nov 1, 2021 to Oct 31, 2022
Signed
Oct 10, 2023
Return Version
2021v4.0
Gross Receipts
$1,903,699
Mission and Program Overview

Mission

Leadership innovation excellence and community through arts and education helping students achieve their potential as individuals and as citizens of the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$160,946$280,516▲ $119,570
Loans From Officers Directors$0$195,503▲ $195,503
Cash and Non-Interest-Bearing Accounts$157,279$174,392▲ $17,113
Inventories for Sale or Use$268,049$130,408▼ $137,641
Accounts Receivable$32,356$14,285▼ $18,071
Prepaid Expenses and Deferred Charges$983$11,524▲ $10,541
Savings and Temporary Cash Investments$109,870$144▼ $109,726
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Total Assets$729,483$611,269▼ $118,214
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$56,647$157,363▲ $100,716
Mortgage Notes Payable Secured by Investment Property$189,100$60,944▼ $128,156
Deferred Revenue$4,650$0▼ $4,650
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$250,397$413,810▲ $163,413
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$353,221$197,311▼ $155,910
Net Assets With Donor Restrictions$125,865$148▼ $125,717
Total Net Assets Fund Balance$479,086$197,459▼ $281,627
Total Liabilities and Net Assets / Fund Balance$729,483$611,269▼ $118,214

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$280,516$42,424$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Justin MooreCOO and CFOFT$65,000$65,000
Denise BonfiglioCEOFT$50,000$50,000

Board Members and Trustees

NameTitle
Mark HerzingChairperson - Board of Directors
John BroschakV Chairperson - Board of Directors
Alyssa CiminoBoard of Directors
Ann VoorheesBoard of Directors
Chris GrifaBoard of Directors
Chris Ryan-LawrenceBoard of Directors
Dan KocherBoard of Directors
Greg CinzioBoard of Directors
Joan LimaBoard of Directors
Mallory YohannanBoard of Directors
Martin TaylorBoard of Directors
Michelle PerezBoard of Directors
Samuel SaundersBoard of Directors
Taylor WhiteheadBoard of Directors
Vicki Ferrence RayCompliance Ofc - Board of Directors
Cindi DeVivoSecretary - Board of Directors
Aundre PelovskiTreasurer - Board of Directors
Revenue and Support

Revenue Composition

Contributions and Grants
$538,443
Program Service Revenue
$954,502
Investment Income
$118,122
Other Revenue
$216,024
All Other Contributions
$0
Change in Net Assets
$-281,627
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,842,598
Salaries, Compensation, and Employee Benefits$243,070
Total Fundraising Expense$68,516
Professional Fundraising Fees$23,050
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$430,842$0$0$430,842
Other Expenses$137,631$0$0$137,631
All Other Expenses$113,276$16,029$2,521$131,831
Travel$126,123$0$0$126,123
Fees for Services Legal$0$123,837$0$123,837
Current Officers, Directors, Trustees, and Key Employees$69,000$34,500$11,500$115,000
Other Salaries and Wages$80,142$14,818$10,548$105,508
Depreciation Depletion$37,882$0$0$37,882
Information Technology$24,730$0$6,182$30,912
Insurance$23,760$4,043$0$27,803
Occupancy$0$24,852$0$24,852
Fees for Services Professional Fundraising--$23,050$23,050
Payroll Taxes$15,260$5,046$2,256$22,562
Fees for Services Accounting$0$11,000$0$11,000
Advertising$0$0$10,609$10,609
Interest$4,952$0$0$4,952
Total Functional Expenses$1,806,072$234,125$68,516$2,108,718
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$23,050
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Campaigns$538,443$538,443$0$538,443
Event 2$0$0$0$0
Total Events$538,443$538,443$0$538,443
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$195,503▲ $195,503
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B, Line 1

The Board of Directors are the governing body no delegation of broad authority has been given granted to an executive committee or similar committee and or any specific individual. All votes must go before the Board and be approved according to the Bylaws of the organization.

Part VI, Line 11B

The organization will provide a draft copy to each member of the Finance and Audit Committee to review. A draft copy will also be provided to the Board of Directors. All questions will be discussed and changes will be made where necessary. Board members are encourage to consistently review the 990 and alert the finance team if there are any material changes needed to be made even after the organization has filed.

Part VI, Line 12C

Organization maintains a conflict of interest policy which is also posted to the organizations website. The policy is reviewed at the annual board meeting. Board members are to disclose any conflicts of interest they have.

Part VI, Line 15

The organization will perform the required research to support the Executive Director compensation. This includes independent and peer market analysis and a presentation to the board for final approval.

Part VI, Line 19

The organization makes all governing documents conflict of interest policy and financial statements via 990 available on its website cadets.org another parties website and upon request.

Filing and Contact Details

Filer

Filer Name
Cadets Arts and Entertainment Inc
EIN
85-0545477
In Care Of
% Vicki Ferrence Ray
Phone
4847731983
Address
8155 Oliver Road, Erie, PA 16509

Signing Officer

Name
Vicki Ferrence Ray
Title
Executive Director
Signed
2023-10-10

Organization Details

Principal Officer
Vicki Ferrence Ray
Formed
2019
Legal Domicile
Nj
Voting Board Members
18
Independent Board Members
17
Employees
4
Volunteers
120
Supplemental Narrative

Additional Explanations

Part IX, Line 11G

This line encompasses all payments made to independent contractors for educational services and support services during tour and winter trainings. This line includes the following categories designers caption managers instructional team summer chefs summer winter tour admin summer winter media team and summer drivers.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Treasurer - Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt1Compliance Ofc - Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary - Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt8COO and CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt9Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt11Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt12Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt13Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt14Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt15Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt16CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt17Chairperson - Board of Directors
IRS990/Form990PartVIISectionAGrp/TitleTxt18V Chairperson - Board of Directors
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