Civic Intelligence

Inspiration Studios Inc.

990 • Fiscal year 2023 • EIN 85-1024537

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 11, 2024

Organization ProfileWWW.INSPOSTUDIOS.ORG
140 High StreetHamilton, OH 45011

(513) 857-5658

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.01x

Higher debt load relative to assets than 32% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

25th percentile

0.01x

Higher debt load relative to revenue than 25% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

74th percentile

20%

Higher net margin than 74% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

51st percentile

$63,847

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 6.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

86th percentile

37%

Faster asset growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

40%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$666,805

Up $307,152 (+85%) from 2021

Net Assets

Up

$659,237

Up $301,427 (+84%) from 2021

Liabilities

Up

$7,568

Up $5,725 (+311%) from 2021

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin74th percentile

Revenue

Up

$935,099

Up $279,966 (+43%) from 2021

Expenses

Up

$752,273

Up $465,128 (+162%) from 2021

Net Income

Down

$182,826

Down $185,162 (-50%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$1.0M$500K$0Assets 2021: $359,653Liabilities 2021: $1,843Net Assets 2021: $357,8102021Assets 2023: $666,805Liabilities 2023: $7,568Net Assets 2023: $659,2372023Assets 2024: $980,089Liabilities 2024: $2,050Net Assets 2024: $978,0392024

Highlighted filing

2023

Assets$666,805
Liabilities$7,568
Net Assets$659,237
Open 2023 Filing

Operations Trend

Revenue Growth80th percentile

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

$1.5M$1.0M$500K$0Revenue 2021: $655,133Expenses 2021: $287,145Net Income 2021: $367,9882021Revenue 2023: $935,099Expenses 2023: $752,273Net Income 2023: $182,8262023Revenue 2024: $1,129,342Expenses 2024: $810,540Net Income 2024: $318,8022024

Highlighted filing

2023

Revenue$935,099
Expenses$752,273
Net Income$182,826
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 11, 2024
Return Version
2023v5.0
Gross Receipts
$1,020,025
Mission and Program Overview

Mission

Inspiration studios inspires individuals with developmental and intellectual disabilities to lead purposeful, healthy, and self-directed lives through innovative programming and services.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$368,215$373,452▲ $5,237
Cash and Non-Interest-Bearing Accounts$114,321$293,353▲ $179,032
Accounts Receivable$2,549--
Total Assets$485,085$666,805▲ $181,720
Liabilities
Unsecured Notes Loans Payable$7,996$7,027▼ $969
Other Liabilities$678$541▼ $137
Total Liabilities$8,674$7,568▼ $1,106
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$476,411$651,737▲ $175,326
Net Assets With Donor Restrictions-$7,500-
Total Net Assets Fund Balance$476,411$659,237▲ $182,826
Total Liabilities and Net Assets / Fund Balance$485,085$666,805▲ $181,720

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$155,649$118,619$274,268
Leasehold Improvements$181,431$9,766$191,197
Equipment$36,372$15,245$51,617
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kim NealExecutive DiFT$63,847$63,847

Board Members and Trustees

NameTitle
Adam MarcumPresident
Aaron HuffordBoard Member
Alisa MillerBoard Member
Cheryl KremerBoard Member
Debbie MannBoard Member
Teddy KremerBoard Member
Tiffany GrubbBoard Member
Kathy BeattySecretary
Tim SpeightTreasurer
Michelle Barnes DavisVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$817,886
Program Service Revenue
$45,812
Investment Income
$8,412
Other Revenue
$62,989
All Other Contributions
$200,547
Change in Net Assets
$182,826
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$457,363
Other Expenses$294,910
Total Fundraising Expense$53,323
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$260,267$67,570$32,101$359,938
Depreciation Depletion$90,477$3,752$939$95,168
Other Employee Benefits$39,505$10,257$4,871$54,633
Occupancy$40,138$10,495-$50,633
Payroll Taxes$30,942$8,034$3,816$42,792
Travel$37,476--$37,476
Fees for Services Accounting$17,887$16,198-$34,085
Information Technology$11,224$2,844-$14,068
Fees for Services Other$5,389$2,800$5,491$13,680
Advertising$972$1,704$3,525$6,201
All Other Expenses$4,098$1,547$236$5,881
Insurance$2,945$2,076-$5,021
Other Expenses$2,463$1,160$1,656$3,623
Office Expenses$126$1,203-$1,329
Fees for Services Legal-$1,001-$1,001
Total Functional Expenses$561,046$137,904$53,323$752,273
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$89,293
Fundraising Direct Expenses$23,367
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Shift Fundraise$53,178$53,178$14,242$38,936
Golf Outing Fun$36,115$36,115$9,125$26,990
Total Events$89,293$89,293$23,367$65,926
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ohio Department of Taxation Payable$541
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“Cheryl kremer teddy kremer board member board member cheryl is teddy's mother”

Form 990, Page 6, Part VI, Line 11B

“The finance committee reviews the form 990 prior to filing.”

Form 990, Page 6, Part VI, Line 12C

“Officers, directors, and key employees are required to disclose annually interests that could give rise to conflicts.”

Form 990, Page 6, Part VI, Line 15A

“The review and approval process for the executive director's salary and benefits was led by unpaid members of the executive committee of the inspiration studios board of directors, which consists of president adam marcum, vice president michelle davis, treasurer tim speight and secretary kathy beatty. Comparables were sourced from a series of informal discussions (in person, phone and email) between members of the executive committee and mutual nonprofit contacts including executive directors and board members of 501 (c)(3)s in southwestern ohio that were of comparable budget/revenue, sector, staff size or structure, or demonstrated firsthand experience with compensation packages for recently comparable nonprofit organizations. In addition, comparables were sourced from propublica's online 990 database including reported revenues from 2012-2019 from a wide range of ohio 501 (c)(3)s. Following these independent evaluations, the executive committee met to share and discuss its findings in several closed sessions during august and september of 2023. In october of 2023, a formal salary modification was signed by inspiration studios executive director kimberly neal and board president adam marcum. The agreement was subsequently approved by the executive committee during its oct. 23, 2023, meeting and placed in the minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are made available upon written request.”

Filing and Contact Details

Filer

Filer Name
Inspiration Studios
EIN
85-1024537
Phone
5138575658
Address
140 HIGH STREET, HAMILTON, OH 45011

Signing Officer

Name
Kim Neal
Title
Executive Director
Phone
5138575658
Signed
2024-07-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Neal
Formed
2020
Legal Domicile
Oh
Voting Board Members
10
Independent Board Members
10
Employees
20
Volunteers
48

Preparer

Firm
Kirsch CPA Group LLC
Address
2 S THIRD STREET SUITE 400, HAMILTON, OH 45011
Preparer
Katherine L Keller
Phone
5138586040
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IRS990/ProgSrvcAccomActy2Grp/Desc0INSPIRED TRANSPORTATION IS A NON-MEDICAL TRANSPORTATION PROGRAM. THIS PROGRAM MOVES COMMUNITY FORWARD WITH TIMELY, DEPENDABLE, AND SAFE TRANSPORTATION FOR INDIVIDUALS WITH DISABILITIES.
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IRS990/ProgSrvcAccomActy3Grp/Desc0INSPIRATION STUDIOS IS A 501(C)3 NON-PROFIT THAT OVERSEES THE PROGRAMMATIC SERVICES OF INSIDEOUT STUDIOS IN HAMILTON, OH.
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt014536
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IRS990ScheduleD/HeldWorksArtGrp/RevenuesIncludedAmt048600
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IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt09766
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0191197
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0155649
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0118619
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0274268
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0541
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OHIO DEPARTMENT OF TAXATION PAYABLE
IRS990ScheduleD/SolicitedAssetsSaleInd0false
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IRS990ScheduleD/TotalLiabilityAmt0541
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IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0GOLF OUTING FUN
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt036115
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt089293
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt053178
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt036115
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CHERYL KREMER TEDDY KREMER BOARD MEMBER BOARD MEMBER CHERYL IS TEDDY'S MOTHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FINANCE COMMITTEE REVIEWS THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE REVIEW AND APPROVAL PROCESS FOR THE EXECUTIVE DIRECTOR'S SALARY AND BENEFITS WAS LED BY UNPAID MEMBERS OF THE EXECUTIVE COMMITTEE OF THE INSPIRATION STUDIOS BOARD OF DIRECTORS, WHICH CONSISTS OF PRESIDENT ADAM MARCUM, VICE PRESIDENT MICHELLE DAVIS, TREASURER TIM SPEIGHT AND SECRETARY KATHY BEATTY. COMPARABLES WERE SOURCED FROM A SERIES OF INFORMAL DISCUSSIONS (IN PERSON, PHONE AND EMAIL) BETWEEN MEMBERS OF THE EXECUTIVE COMMITTEE AND MUTUAL NONPROFIT CONTACTS INCLUDING EXECUTIVE DIRECTORS AND BOARD MEMBERS OF 501 (C)(3)S IN SOUTHWESTERN OHIO THAT WERE OF COMPARABLE BUDGET/REVENUE, SECTOR, STAFF SIZE OR STRUCTURE, OR DEMONSTRATED FIRSTHAND EXPERIENCE WITH COMPENSATION PACKAGES FOR RECENTLY COMPARABLE NONPROFIT ORGANIZATIONS. IN ADDITION, COMPARABLES WERE SOURCED FROM PROPUBLICA'S ONLINE 990 DATABASE INCLUDING REPORTED REVENUES FROM 2012-2019 FROM A WIDE RANGE OF OHIO 501 (C)(3)S. FOLLOWING THESE INDEPENDENT EVALUATIONS, THE EXECUTIVE COMMITTEE MET TO SHARE AND DISCUSS ITS FINDINGS IN SEVERAL CLOSED SESSIONS DURING AUGUST AND SEPTEMBER OF 2023. IN OCTOBER OF 2023, A FORMAL SALARY MODIFICATION WAS SIGNED BY INSPIRATION STUDIOS EXECUTIVE DIRECTOR KIMBERLY NEAL AND BOARD PRESIDENT ADAM MARCUM. THE AGREEMENT WAS SUBSEQUENTLY APPROVED BY THE EXECUTIVE COMMITTEE DURING ITS OCT. 23, 2023, MEETING AND PLACED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1INSPIRATIO
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0INSPIRED TRANSPORT LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1INSIDE OUT LLC
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IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt0140 HIGH STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt1140 HIGH STREET
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0HAMILTON
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1HAMILTON
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IRS990/SignificantNewProgramSrvcInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0485085

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$666,805
Liabilities
$7,568
Net assets
$659,237
Revenue
$935,099
Expenses
$752,273
Net income
$182,826
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.00$0.98$1.13$0.81$0.32
2023Detailed filing. Detailed filing data is available for this year.$0.67$0.01$0.66$0.94$0.75$0.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.36$0.00$0.36$0.66$0.29$0.37