INSTITUTE OF TAOIST EDUCATION AND ACCUPUNCTURE INC

EIN: 841337452 501(c)(3) Education

LOUISVILLE, CO

Total Revenue
$672,285
Total Expenses
$760,250
Total Assets
$528,416
Net Assets
$114,891
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1996
Legal Domicile
CO
Phone
7208908922
Tax Period
2023-09-01 to 2024-08-31

INSTITUTE OF TAOIST EDUCATION AND ACCUPUNCTURE INC, founded in 1996, is a small nonprofit in the Education sector that reported $672K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Expenses of $760K exceeded revenue, resulting in a 13% operating deficit.

Mission

The Institute of Taoist Education and Acupuncture, Inc. (ITEA) is dedicated to excellence in the teaching of pure Classical Five-Element Acupuncture (CF-EA), as taught by J.R. and J.B. Worsley. The school is committed to producing graduates who have a deep understanding and respect for the integrity of the human body, mind, and spirit as it exists within nature, and who have developed the inner qualities needed to be effective healers. The Institute is further committed to serving the public at the highest levels of competence and knowledge of CF-EA, through inspiring its graduates to educate the public and to teach future students.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $17,738
Program Service Revenue $645,862
Investment Income $3,337
Other Revenue $5,348
TOTAL REVENUE $672,285

Expense Breakdown

Grants Paid $0
Salaries & Benefits $310,410
Fundraising Expenses $7,388
Program Expenses $509,811
Other Expenses $449,840
TOTAL EXPENSES $760,250

Year-over-Year Comparison

2023 2022 Change
Revenue $672,285 $726,039 -0.1%
Expenses $760,250 $729,678 +0.0%
Net Income $-87,965 $-3,639 +23.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
5
Employees
8
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$186,508
Total Directors
7
$186,508
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
HILARY SKELLON VISIONARY 40.00
Officer Director
$65,250 $0 $65,250
BRITTANY SANELLI President 40.00
Officer Director
$65,231 $0 $65,231
KATHY KNAUS Treasurer 40.00
Officer Director
$56,027 $0 $56,027
MARY ABLE CHAIR 2.00
Officer Director
$0 $0 $0
ROBB MENZIES MEMBER 2.00
Officer Director
$0 $0 $0
JOE WHITE Secretary 2.00
Officer Director
$0 $0 $0
CINDY WALLIS MEMBER 2.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $672,285 $760,250 $528,416 $-87,965
2023 $726,039 $729,678 $663,820 $-3,639
2022 $594,066 $589,516 $221,218 $4,550
2021 $635,633 $540,226 $208,975 $95,407
2020 $519,251 $454,074 $152,764 $65,177
2019 $471,162 $471,072 $86,952 $90
2018 $460,099 $508,455 $63,107 $-48,356
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