Daybreak Arts
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$216,500.00
Projected Expenses
$215,545.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| IRS Letter of Determination | 2023 |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $212,809.00 | $218,119.00 | $173,764.00 |
| Total Expenses | $195,251.00 | $161,826.00 | $153,293.00 |
| Revenue Less Expenses | $17,558.00 | $56,293.00 | $20,471.00 |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | $0.00 |
| Government - Federal | $0.00 | $0.00 | $0.00 |
| Government - State | $0.00 | $0.00 | $0.00 |
| Government - Local | $0.00 | $0.00 | $0.00 |
| Government - Unspecified | $21,040.00 | $111,251.00 | $0.00 |
| Contributions, Gifts, and Grants | $120,872.00 | $49,162.00 | $167,483.00 |
| Indirect Public Support | $0.00 | $0.00 | $0.00 |
| Earned Revenue | $25,546.00 | $0.00 | $20,796.00 |
| Investment Income, Net of Losses | $1,250.00 | $6.00 | $5.00 |
| Membership Dues | $0.00 | $0.00 | $0.00 |
| Special Events | $40,985.00 | $31,811.00 | $-14,520.00 |
| Revenue In-Kind | $3,116.00 | $0.00 | $0.00 |
| Other | $0.00 | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $163,264.00 | $134,713.00 | $98,267.00 |
| Administration Expense | $24,884.00 | $22,519.00 | $55,026.00 |
| Fundraising Expense | $7,103.00 | $4,594.00 | $0.00 |
| Total Revenue/Total Expenses | 109% | 135% | 113% |
| Program Expense/Total Expenses | 84% | 83% | 64% |
| Fundraising Expense/Contributed Revenue | 4% | 3% | 0% |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | Contributions, Gifts, and Grants $120,872.00 | Government Grants $111,251.00 | Contributions, Gifts, and Grants $167,483.00 |
| Second Highest Funding Source & Dollar Amount | Fundraising Events $40,985.00 | Contributions, Gifts, and Grants $49,162.00 | Program Revenue $20,796.00 |
| Third Highest Funding Source & Dollar Amount | Program Revenue $25,546.00 | Fundraising Events $31,811.00 | $0.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $171,599.00 | $153,421.00 | $99,657.00 |
| Current Assets | $168,652.00 | $153,421.00 | $97,156.00 |
| Long-Term Liabilities | $0.00 | $0.00 | $1,591.00 |
| Current Liabilities | $2,224.00 | $1,605.00 | $0.00 |
| Total Net Assets | $169,375.00 | $151,816.00 | $98,066.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
No
Do you anticipate a campaign in the next 5 years?
No
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2024
Solicitations Permit
Form 990s
Audit Documents
No audit documents are available at this time
CEO/Executive Director/Board Comments
| We hired an accountant in spring 2017 to help us organize, track, and reconcile our monthly bank statements and allocated funds for our Assistant Director to act as the organization's bookkeeper. We also have a finance committee to help track and assess our budget. Our finance committee is presented with a Statement of Activity by Month and Statement of Activity Detail on a quarterly basis to assess spending and revenue goals. Our budget to actuals is presented to the board in a financial report at bi-monthly board meetings. The board is given a statement of activity and statement of financial position. Our Form 990 is presented to the board of directors annually. Historically, each year we have increased our projected revenue and expenses and ended each fiscal year in reserves. In 2017, we developed a financial contingency plan and budget to address various organizational changes or problems that could arise. In our contingency budget, we identified revenue streams to supplement both loss of revenue, artwork, or space. |
Foundation Staff Comments
| Financial figures taken from Form 990, prepared by Kraft CPAS PLLC. Comment provided by Hayley Sulfridge 2/12/24. |
