Civic Intelligence

Crea Foundation Inc.

990 • Fiscal year 2021 • EIN 85-3787409

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 03, 2022

Organization ProfileCREALLC.COM/FOUNDATION
30 S Meridian St Ste 400Indianapolis, IN 46204

(317) 808-7376

Siviq Scores

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

Liabilities / Assets

88th percentile

0.41x

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

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

90th percentile

0.45x

Higher debt load relative to revenue than 90% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

91st percentile

64%

Higher net margin than 91% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

95th percentile

$61,523

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 31.3% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets88th percentile

Assets

$213,854

No earlier filing loaded for comparison.

Net Assets

$125,499

No earlier filing loaded for comparison.

Liabilities

$88,355

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin91st percentile

Revenue

$196,704

No earlier filing loaded for comparison.

Expenses

$71,205

No earlier filing loaded for comparison.

Net Income

$125,499

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$800K$600K$400K$200K$0-$200KAssets 2021: $213,854Liabilities 2021: $88,355Net Assets 2021: $125,4992021Assets 2022: $362,303Liabilities 2022: $405,000Net Assets 2022: -$42,6972022Assets 2023: $569,091Liabilities 2023: $331,788Net Assets 2023: $237,3032023Assets 2024: $640,862Liabilities 2024: $106,803Net Assets 2024: $534,0592024

Highlighted filing

2021

Assets$213,854
Liabilities$88,355
Net Assets$125,499
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KRevenue 2021: $196,704Expenses 2021: $71,205Net Income 2021: $125,4992021Revenue 2022: $546,041Expenses 2022: $714,237Net Income 2022: -$168,1962022Revenue 2023: $538,038Expenses 2023: $258,038Net Income 2023: $280,0002023Revenue 2024: $554,217Expenses 2024: $257,461Net Income 2024: $296,7562024

Highlighted filing

2021

Revenue$196,704
Expenses$71,205
Net Income$125,499
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 3, 2022
Return Version
2021v4.0
Gross Receipts
$196,704
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$196,704-
Prepaid Expenses and Deferred Charges-$17,150-
Total Assets$0$213,854▲ $213,854
Liabilities
Accounts Payable and Accrued Expenses-$88,355-
Total Liabilities$0$88,355▲ $88,355
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$125,499-
Total Net Assets Fund Balance$0$125,499▲ $125,499
Total Liabilities and Net Assets / Fund Balance$0$213,854▲ $213,854
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Arvetta JideonwoExecutive DiPT$61,523$61,523

Board Members and Trustees

NameTitle
Jeff WhitingChair
Brian VillaMember
Charles AndersonMember
Katy McshaneMember
Roger ShankMember
Tony BertoldiMember
Revenue and Support

Revenue Composition

Contributions and Grants
$196,659
Program Service Revenue
$0
Investment Income
$45
Other Revenue
$0
All Other Contributions
$196,659
Change in Net Assets
$125,499
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$71,205
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal-$7,385-$7,385
Information Technology-$3,000-$3,000
Fees for Services Accounting-$2,093-$2,093
Other Expenses-$175-$175
Total Functional Expenses$0$71,205$0$71,205
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 11B

“The form 990 will be provided to each board memeber prior to filing with the internal revenue service. A formal review is done only if requested by a board member.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Crea Foundation Inc
EIN
85-3787409
Phone
3178087376
Address
30 S MERIDIAN ST STE 400, INDIANAPOLIS, IN 46204

Signing Officer

Name
Arvetta Jideonwo
Title
Executive Director
Phone
3178087376
Signed
2022-11-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Arvetta Jideonwo
Formed
2021
Legal Domicile
In
Voting Board Members
7
Independent Board Members
6
Employees
0
Volunteers
6

Preparer

Firm
L M Henderson & Company Llp
Address
450 E 96TH ST STE 200, INDIANAPOLIS, IN 46240-3797
Preparer
James J Cline
Phone
3175661000
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“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.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation was created on october 22, 2020. The foundation has been determined by the internal revenue service to be tax exempt under section 501(c)(3) of the internal revenue code (the code). As a result, contributions made to the foundation qualify as charitable deductions as described in section 170(c) of the code. The foundation has been classified as an organization that is public charity under section 170(b)(1)(a)(vi) of the code. Management evaluates all tax positions taken or expected to be taken on its annual information returns, including the position that the foundation continues to qualify to be treated as a section 501(c)(3) organization for both federal and state purposes. For the year ended december 31, 2021, management does not feel it has taken any tax positions that would not be sustained under examination. Therefore, no interest or penalties have been accrued or charged to expense as of december 31, 2021, or the year then ended. The annual information returns for the foundation are subject to examination by taxing authorities for a period of three years from the date they are filed.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION WAS CREATED ON OCTOBER 22, 2020. THE FOUNDATION HAS BEEN DETERMINED BY THE INTERNAL REVENUE SERVICE TO BE TAX EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE). AS A RESULT, CONTRIBUTIONS MADE TO THE FOUNDATION QUALIFY AS CHARITABLE DEDUCTIONS AS DESCRIBED IN SECTION 170(C) OF THE CODE. THE FOUNDATION HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS PUBLIC CHARITY UNDER SECTION 170(B)(1)(A)(VI) OF THE CODE. MANAGEMENT EVALUATES ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON ITS ANNUAL INFORMATION RETURNS, INCLUDING THE POSITION THAT THE FOUNDATION CONTINUES TO QUALIFY TO BE TREATED AS A SECTION 501(C)(3) ORGANIZATION FOR BOTH FEDERAL AND STATE PURPOSES. FOR THE YEAR ENDED DECEMBER 31, 2021, MANAGEMENT DOES NOT FEEL IT HAS TAKEN ANY TAX POSITIONS THAT WOULD NOT BE SUSTAINED UNDER EXAMINATION. THEREFORE, NO INTEREST OR PENALTIES HAVE BEEN ACCRUED OR CHARGED TO EXPENSE AS OF DECEMBER 31, 2021, OR THE YEAR THEN ENDED. THE ANNUAL INFORMATION RETURNS FOR THE FOUNDATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THROUGH 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WILL BE PROVIDED TO EACH BOARD MEMEBER PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. A FORMAL REVIEW IS DONE ONLY IF REQUESTED BY A BOARD MEMBER.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt088355
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IRS990/TotalRevenueGrp/ExclusionAmt045
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IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
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IRS990/VotingMembersIndependentCnt06
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ARVETTA JIDEONWO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03178087376
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-03
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ReturnHeader/Filer/PhoneNum03178087376
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0L M HENDERSON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0450 E 96TH ST STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0462403797
ReturnHeader/PreparerPersonGrp/PhoneNum03175661000
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES J CLINE
ReturnHeader/ReturnTs02022-11-10T09:39:35-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ARVETTA
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ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$213,854
Liabilities
$88,355
Net assets
$125,499
Revenue
$196,704
Expenses
$71,205
Net income
$125,499
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$6.41$1.07$5.34$5.54$2.57$2.97
2023Detailed filing. Detailed filing data is available for this year.$5.69$3.32$2.37$5.38$2.58$2.80
2022Detailed filing. Detailed filing data is available for this year.$3.62$4.05$0.43$5.46$7.14$1.68
2021Detailed filing. Detailed filing data is available for this year.$2.14$0.88$1.25$1.97$0.71$1.25