Overview
What is Thea Foundation?
Thea Foundation is a nonprofit organization located at 401 MAIN ST 100, North Little Rock, AR 72114. Their primary mission is to advocate for the significance of arts in youth development. Through their program, Thea's Art Closet, they provide financial support for arts-focused projects in Arkansas schools, matching funds from Donors Choose. In the 2022-2023 academic year, they funded 388 such projects. The organization employs a team of five individuals.
Official website here: www.theafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Thea Foundation has received an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. With an overall score of 96%, the foundation demonstrates exceptional governance, highlighted by having 100% independent board members and a robust audit and oversight committee. The organization effectively manages its resources, with a program expense ratio of 78.26%, indicating that the majority of its expenses are allocated directly to its programs.
The foundation exhibits considerable strengths in its governance practices, ensuring transparency and integrity through comprehensive policies such as conflict of interest and whistleblower protections. This commitment to ethical practices is further supported by the thorough documentation of board meeting minutes and the absence of any material diversion of assets. The organization also maintains a favorable liabilities to assets ratio of 6.87%, showcasing its financial stability.
While the Thea Foundation has demonstrated notable accomplishments in its financial management and accountability, continued efforts in communication and outreach could enhance its visibility and impact in the community. Overall, the foundation's high rating reflects a well-managed organization committed to its mission and providing significant support through its programs.
This AI summary has been generated from information found on Charity Navigator.
Is Thea Foundation legitimate?
Thea Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Thea Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $104,480
Professional Fundraising Fees: $0
Other Salaries and Wages: $193,455
For more financial information, click here
Official website here: www.theafoundation.org
What is the mission statement of Thea Foundation?
The Thea Foundation's mission is centered around advocating for the significance of arts in the growth and development of young individuals. This advocacy is a crucial part of their mission, aiming to emphasize the value of the arts in various educational settings. To further their cause, they operate a program called Thea's Art Closet. This program provides financial support for art-focused projects, matching funds from DonorsChoose for K-12 students in Arkansas during the 2022-2023 school year. In the 2022-2023 academic year, Thea Foundation funded 388 such projects.
Official website here: www.theafoundation.org
Who is the CEO of Thea Foundation?
Nick Leopoulos is the Director Emeritus of Thea Foundation.
Official website here: www.theafoundation.org
What is the revenue of Thea Foundation?
Thea Foundation's revenue in 2023 was $1,196,723.
Official website here: www.theafoundation.org
Who are the executives of Thea Foundation and what are their salaries?
The average compensation at Thea Foundation during 2023 was $59,587. There are 5 employees and 15 volunteers at Thea Foundation.
Here are 14 key members and their salaries:
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Official website here: www.theafoundation.org
Where can I find the form 990 for Thea Foundation?
Thea Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.theafoundation.org
Learn more at the official website: www.theafoundation.org
Mission Statement of Thea Foundation
Thea Foundation, a notable organization, is dedicated to advocating the significance of the arts in the growth and development of our youth. Their mission is to emphasize the profound impact of artistic pursuits on young minds, advocating for their integration into educational curriculums and extracurricular activities.
To actualize this mission, Thea Foundation introduces programs like Thea's Art Closet. This initiative provides financial support for art-based projects in Arkansas, matching funds from DonorsChoose for K-12 students. During the 2022-2023 academic year, Thea Foundation funded an impressive 388 such projects. By doing so, the organization fosters creative expression and learning opportunities in schools across the state, ultimately contributing to the holistic development of its young population.
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Impact
July, 2024
The Thea Foundation's impact can be seen in its advocacy for the importance of the arts in the development of our youth. Through programs like Thea's Art Closet, the foundation funds art-focused projects for K-12 students in Arkansas, matching dollars from donors. In the 2022-2023 school year alone, Thea funded 388 projects, providing students with valuable opportunities for artistic expression and creativity. This support helps foster a deeper appreciation for the arts and allows students to explore their talents and interests in a meaningful way.
This information is meant to be a general summary of Thea Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $278,706
- Gross Receipts: $3,222,228
Assets and Liabilities:
- Total Assets: $5,762,475
- Total Liabilities: $395,996
- Net Assets: $5,366,479
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Organization Details
Founding Year
2001
Phone
(501) 379-3512Principal Officer
Nick Leopoulos
Main Address
401 MAIN ST 100, NORTH LITTLE ROCK, AR, 72114
Website
www.theafoundation.orgNTEE Category
Code: P40 - Human services
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