CREATIVE MINDS SCHOOL OF ARTS INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Tax Period

2022-01-01 to 2022-12-31

CREATIVE MINDS SCHOOL OF ARTS INC, founded in 2020, is a small nonprofit in the Education sector that reported $674K in total revenue in fiscal year 2022.

Mission

The organization provides education, character building programs, leadership programs, mentorship,and community and economic development initiatives to distressed communities in the State of Florida.

Program Service Accomplishments

Program 1

Expenses: $649,523 Revenue: $283,271

Creative Minds School of Arts Inc is a private K-8 educational institution that is committed to student success. Our organization measures student success and accomplishments by meeting each student where they are and creating a comprehensive, individual plan for academic achievement. Student achievements are measured by academic progress per subject area using research based diagnostic assessments that measure student growth regularly (Stars and I Ready). The students are tested 3 times a year. Over 50 percent of our 55 students showed significant progress. 25 percent showed good progress and approximately 15 percent of the students showed no progress.

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $390,301

Program Service Revenue $283,271

Investment Income $0

Other Revenue $0

TOTAL REVENUE $673,572

Expense Breakdown

Grants Paid $0

Salaries & Benefits $457,596

Fundraising Expenses $0

Program Expenses $649,523

Other Expenses $243,578

TOTAL EXPENSES $701,174

Year-over-Year Comparison

	2022	2021	Change
Revenue	$673,572	N/A	N/A
Expenses	$701,174	N/A	N/A
Net Income	$-27,602	N/A	N/A

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ZACKERY PHILLIPS	VICE CHAIRMAN	35.00	Officer	$0	$0	$0
TAWANA M PHILLIPS	CHAIRMAN	40.00	Officer	$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
2022	$673,572	$701,174	$84,936	$-27,602
2021	$485,455	$583,453	$70,438	$-97,998
2020	$450,556	$451,085	$162,922	$-529