Overview
What is Milwaukee Youth Arts Center Foundation?
Milwaukee Youth Arts Center Foundation is a charitable and educational organization based in Milwaukee, Wisconsin. Its primary mission is to support First Stage Milwaukee, Inc. and Milwaukee Youth Symphony Orchestra, Inc., primarily through the Milwaukee Youth Arts Center, as outlined in a contribution agreement. The foundation operates under the Internal Revenue Code's section 501(c)(3) and supports the functions of both First Stage and the Milwaukee Youth Symphony Orchestra, which are described in the IRC sections 509(a)(1) or (2). The foundation engages in various activities to further these purposes and invests in property as needed. It also acts as a leverage lender in a new market tax credit transaction involving Milwaukee Youth Arts Center, Inc., and raises funds with donor restrictions for the center's capital campaign.
Is Milwaukee Youth Arts Center Foundation legitimate?
Milwaukee Youth Arts Center Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Milwaukee Youth Arts Center 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: $0
Professional Fundraising Fees: $40,000
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Milwaukee Youth Arts Center Foundation?
The Milwaukee Youth Arts Center Foundation is established with a charitable and educational purpose, functioning to support First Stage Milwaukee, Inc. and Milwaukee Youth Symphony Orchestra, Inc., as long as they fall under specific IRS sections. The foundation engages in activities related to these purposes and invests in necessary property. As part of its mission, the foundation serves as a leverage lender in a new market tax credit transaction involving Milwaukee Youth Arts Center, Inc. Additionally, the foundation is involved in fundraising and holds funds with donor restrictions for use in the Milwaukee Youth Arts Center's capital campaign.
Who is the CEO of Milwaukee Youth Arts Center Foundation?
Chad Tessmer is the Principal Officer of Milwaukee Youth Arts Center Foundation.
What is the revenue of Milwaukee Youth Arts Center Foundation?
Milwaukee Youth Arts Center Foundation's revenue in 2022 was $252,358.
Who are the executives of Milwaukee Youth Arts Center Foundation and what are their salaries?
There 6 volunteers at Milwaukee Youth Arts Center Foundation.
Here are 7 key members and their salaries:
- Compensation: $0
- Related: $67,804
- Other: $11,527
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Milwaukee Youth Arts Center Foundation?
Milwaukee Youth Arts Center Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Milwaukee Youth Arts Center Foundation
The Milwaukee Youth Arts Center Foundation is established with a charitable and educational mission, operating solely for the benefit of First Stage Milwaukee, Inc. and Milwaukee Youth Symphony Orchestra, Inc. The Foundation's primary goal is to support these organizations and carry out their purposes. It engages in activities related to these charitable and educational objectives and invests in necessary property to achieve these aims.
As part of its mission to support First Stage Milwaukee, Inc. and Milwaukee Youth Symphony Orchestra, Inc., the Foundation acts as a leverage lender in a New Market Tax Credit transaction involving Milwaukee Youth Arts Center, Inc. Additionally, the Foundation raises funds and holds donor-restricted funds to be used as part of the Milwaukee Youth Arts Center Capital Campaign. By performing these functions, the Milwaukee Youth Arts Center Foundation aims to contribute positively to the arts and education sectors.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Milwaukee Youth Arts Center Foundation significantly enhances the cultural and educational landscape of Milwaukee by providing vital support to organizations like First Stage Milwaukee and the Milwaukee Youth Symphony Orchestra. Through its charitable activities, the foundation ensures that these organizations can deliver quality arts education and performance opportunities to young people.
The foundation primarily operates through the Milwaukee Youth Arts Center, creating a vibrant hub for artistic development. It plays a critical role in fundraising and managing resources, which are earmarked for initiatives that foster creativity and artistic expression among youth. By holding donor-restricted funds and engaging in strategic financial transactions, such as acting as a leverage lender in New Market Tax Credit dealings, the foundation amplifies the impact of the arts in the community.
Overall, its efforts not only enrich the lives of individual participants but also contribute to the broader cultural vitality of Milwaukee, ensuring that the arts remain accessible to the next generation. The commitment to charitable and educational purposes strengthens community ties and cultivates a lifelong appreciation for the arts among young people.
This information is meant to be a general summary of Milwaukee Youth Arts Center 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 2022.
- Investment Income: $63,637
- Gross Receipts: $265,116
Assets and Liabilities:
- Total Assets: $10,157,496
- Total Liabilities: $82,627
- Net Assets: $10,074,869
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2020
Phone
(414) 267-2902Principal Officer
Chad Tessmer
Main Address
325 W WALNUT STREET, MILWAUKEE, WI, 53212
NTEE Category
Code: A12 - Arts
If you are a representative of Milwaukee Youth Arts Center Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.