abrasiveMedia, Inc.
Fiscal Year
Fiscal Year Start
07/01/2023
Fiscal Year End
06/30/2024
Projected Revenue
$115,000.00
Projected Expenses
$107,500.00
Organizational Budgets and Other Documents
IRS Letter of Exemption
| abrasiveMedia, Inc IRS Letter |
Detailed Financials
Revenue and Expenses
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Revenue | $0.00 | $0.00 | |
| Total Expenses | $0.00 | $0.00 | |
| Revenue Less Expenses | ($-0.00) | ($-0.00) | ($-0.00) |
Revenue Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Foundation and Corporation Contributions | $0.00 | $0.00 | |
| Government - Federal | $0.00 | $0.00 | |
| Government - State | $0.00 | $0.00 | |
| Government - Local | $0.00 | $0.00 | |
| Government - Unspecified | $0.00 | $0.00 | |
| Contributions, Gifts, and Grants | $0.00 | $0.00 | |
| Indirect Public Support | $0.00 | $0.00 | |
| Earned Revenue | $0.00 | $0.00 | |
| Investment Income, Net of Losses | $0.00 | $0.00 | |
| Membership Dues | $0.00 | $0.00 | |
| Special Events | $0.00 | $0.00 | |
| Revenue In-Kind | $0.00 | $0.00 | |
| Other | $0.00 | $0.00 |
Expense Allocation
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Program Expense | $0.00 | $0.00 | |
| Administration Expense | $0.00 | $0.00 | |
| Fundraising Expense | $0.00 | $0.00 | |
| Total Revenue/Total Expenses | |||
| Program Expense/Total Expenses | |||
| Fundraising Expense/Contributed Revenue |
Top Funding Sources
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Top Funding Source & Dollar Amount | $0.00 | $0.00 | $0.00 |
| Second Highest Funding Source & Dollar Amount | $0.00 | $0.00 | $0.00 |
| Third Highest Funding Source & Dollar Amount | $0.00 | $0.00 | $0.00 |
Assets and Liabilities
| Fiscal Year | 2023 | 2022 | 2021 |
|---|---|---|---|
| Total Assets | $0.00 | $0.00 | |
| Current Assets | $0.00 | $0.00 | |
| Long-Term Liabilities | $0.00 | $0.00 | |
| Current Liabilities | $0.00 | $0.00 | |
| Total Net Assets | $0.00 | $0.00 |
Endowment Info
Do you have an endowment?
No
Capital Campaign Info
Are you currently in a Capital Campaign?
Anticipated In 3 Years
Do you anticipate a campaign in the next 5 years?
Yes
Solicitation Permit Info
State Charitable Solicitations Permit
Yes
Permit Expiration Month
December
Permit Expiration Year
2023
Form 990s
Audit Documents
| Abrasive Actuals 2017 | 2017 |
CEO/Executive Director/Board Comments
| Our FY2019 budget was updated mid-year in response to our residency in Houston Station coming to a conclusion. We were originally offered a 3 year residency, but have been in Houston Station for almost 6 years. Due to issues with the building which need to be addressed, which very directly impacts our space, we were advised that the residency would need to end this spring instead of concluding in the autumn as originally planned. This represents a marked change for the organization. However, we were already scheduled to begin strategic planning in February of 2019. The board of directors determined that we should continue on this schedule, rather than attempting to push up the date in order to react more quickly to the impact of the move; it is the board's opinion that it is most important that we complete the processes we have committed to as they were values-based decisions. Thus, we have deliberately paused growth for the remainder of this fiscal year so that we may do justice to the process. As this process is completed we will also be putting together a fundraising strategy to accompany the strategic plan. In order to be transparent about our current status, take enough time for a thorough plan, and make room for the organizational changes that we will be undergoing, we have chosen to communicate our financials to Giving Matters in a way that shows our entire process as it truly is. Thus, our FY2020 budget is thus a provisional budget, reflecting a small-downsizing which is the impact of losing our current physical space. We already had other locations in development through our partnerships so that our programming may continue uninterrupted, so this impact is not too sizable. The board will meet in Q1 of FY2020 to approve a three-year working financial plan (under development now), and the budget will be revised to complement that plan. Thus, though we are planning on beginning another season of growth in Q2 of FY2020, our provisional budget is extrapolated from our current capacity if nothing should change. While our final budget will likely not be updated before the grant reviews we will undergo this spring, we will upload it to Giving Matters as soon as it is approved. Should you have any questions about this process, please feel free to contact us. |
Foundation Staff Comments
| This organization filed a 990-N form with the IRS, which does not provide specific financial information. Most small tax-exempt organizations whose annual gross receipts are normally $50,000 or less are required to electronically submit Form 990-N, also known as the e-Postcard, unless they choose to file a complete Form 990 or Form 990-EZ instead. Comments provided by Hayley Sulfridge 8/15/23. |
