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New York BBB Wise Giving Report for
Ifetayo Cultural Arts Academy, Inc.

A BBB Accredited charity

 



Expiration Date:
05/2016
Name:
Ifetayo Cultural Arts Academy, Inc.
Address:
629 East 35th Street
Brooklyn, NY 11203
Phone:
718-856-1192
Web Site:
Year, State Incorporated:
1990, New York
Affiliates:
None
Stated Purpose:
" Dedicated to supporting the creative, educational and vocational development of youth and families of African descent. "





Evaluation Conclusions
 

              
Ifetayo Cultural Arts Academy, Inc. (ICAA) meets the 20 Standards for Charity Accountability.




Programs
 

              
Ifetayo Cultural Arts Academy (ICAA) is an arts and cultural organization that promotes personal and professional development by assisting children through their transition to adulthood. The organization supports literacy and verbal communication as well as cultural and spiritual exposure to the individuals’ heritage and that of others. Moreover, ICAA assists young people in developing their understanding of roles and responsibilities in the community, and educates them about healthy life styles.



Governance
 

              
Chief Executive Officer:
Ms. Sandra Bowie, Executive Director
Chair of the Board:
Ms. Naima Oyo
Chair's Profession / Business Affiliation:
VP of Community Development Outreach, Bank United
Board Size:
16
Paid Staff Size:
40



*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.




Fund Raising
 

              
Method(s) Used:


Direct mail appeals, invitations to fund raising events, grant proposals, internet
Fund raising costs were 11.6% of related contributions. (Related contributions, which totaled $762,146, are donations received as a result of fund raising activities.)




Tax Status
 

              
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.




Financial
 

              
The following information is based on ICAA's Audited Financial Statements for the fiscal year ended August 31, 2012.

Source of Funds  

Foundation & Corporate Grants

$421,860

Tuition, Admissions & Fees

392,005

Government Grants

206,538

In-Kind Contributions

76,260

Individual Contributions

30,818

Other Support & Revenue

26,670

Interest Income

244

Total Income

$1,154,395

Program Expenses  

Rites of Passage

$325,224

Cultural Arts

323,791

Marcus Garvey Cultural Heritage

274,474

Youth Ensemble

131,899

Arts in Education

105,648
Total Program Expenses:
Fund Raising Expenses
Administrative Expenses

Total expenses

Expenses in Excess of Income

1,161,036
88,768
227,140

$1,476,944

$(322,549)




Uses of Funds as a % of Total Expenses


Programs: 79%  Fund Raising: 6%  Administrative 15% 
Roll the cursor over the pie chart to see the dollar amounts.


Beginning net assets $1,051,512
Ending net assets 728,961
Total liabilities 131,171

Total assets

$860,132






 

A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fundraising or promotional purposes and may not be reproduced or distributed in whole or in part.