CRAFTING THE FUTURE

EIN: 853602641 501(c)(3) Arts, Culture & Humanities

LOS ANGELES, CA

Total Revenue
$549,953
Total Expenses
$375,872
Total Assets
$189,703
Net Assets
$185,159
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Organization Details

Formation Year
2022
Legal Domicile
CA
Principal Officer
COREY PEMBERTON
Phone
5712490526
Tax Period
2023-01-01 to 2023-12-31

CRAFTING THE FUTURE, founded in 2022, is a small nonprofit in the Arts, Culture & Humanities sector that reported $550K in total revenue in fiscal year 2023. The organization ran a surplus of $174K, a strong 32% operating margin.

Mission

At Crafting the Future (CTF) our mission is to increase access to creative enrichment for Black and Brown artists by connecting them to opportunities that help them thrive.

Program Service Accomplishments

Program 1
Expenses: $143,277 Revenue: $50,000

SCHOLARSHIP: Education is a big piece of this puzzle. We figure that if you want to see more people of color in various positions across the art world (exhibitors, curators, directors, educators...

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SCHOLARSHIP: Education is a big piece of this puzzle. We figure that if you want to see more people of color in various positions across the art world (exhibitors, curators, directors, educators, etc) then you have to provide those communities who have been historically disenfranchised and denied access to education the opportunity to learn what is possible in the creative sphere. A CTF scholarship includes tuition, room and board, travel, materials, a stipend, and a per diem. We try to eliminate any financial barrier that might stand between a learner and their workshop. We also partner with youth arts organizations around the country to help us identify scholarship recipients, based not on their portfolios and writing skills, but rather on the potential for impact. To date, weve served artists from ages 15-68, and we look forward to expanding that range. And all of the schools we partner with match our scholarship funds. So for every scholarship we raise money for, a partnering school doubles it, increasing our offerings and proving their own commitment to these efforts.

Program 2
Expenses: $48,102 Revenue: $10,000

INTERNSHIP: We support multiple internship programs that seek to shine a light on this mysterious aspect of the art world. One program that we support is a partnership between Urban Glass in Brooklyn...

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INTERNSHIP: We support multiple internship programs that seek to shine a light on this mysterious aspect of the art world. One program that we support is a partnership between Urban Glass in Brooklyn and Glass Roots in Newark, NJ. Two interns each year are selected to work over a 6 month period between both locations. They receive a crash course in the smorgasbord of programs at each institution, opening their eyes to many possible ways to make a living as a glass artist. We pay for their time at each location and provide them with metro cards for traveling back and forth. We love this program because it connects these two institutions while simultaneously exemplifying for the interns some potential next steps, including the possibility of commuting into or out of the city.

Program 3
Expenses: $94,679 Revenue: $40,000

RESIDENCY: We support multiple residency programs that aim to provide established and emerging artists with time and space to create. Our biggest residency program is in our home base studio in Los...

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RESIDENCY: We support multiple residency programs that aim to provide established and emerging artists with time and space to create. Our biggest residency program is in our home base studio in Los Angeles. The Los Angeles Artist Census found that around 50% of Black and LatinX artists surveyed have no studio, while only 24% of white respondents lacked studio space, despite white non-Hispanic people making up only 28.5% of the LA population. The need for a program like ours is undeniable. For the past three years, the residency program has supported emerging BIPOC artists in Los Angeles by offering free studio space, a material stipend, and an all-expenses-paid two-week workshop at an art/craft school. This year we have extended the length of the residency from 6 months to one year and the proposed expansion in 2025 would increase the number of artists from two to four, increase the stipend from $4000 to $6000, and bring in additional short-term visiting artists.

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $549,877
Program Service Revenue $0
Investment Income $0
Other Revenue $76
TOTAL REVENUE $549,953

Expense Breakdown

Grants Paid $160,669
Salaries & Benefits $84,450
Fundraising Expenses $16,193
Program Expenses $317,390
Other Expenses $130,753
TOTAL EXPENSES $375,872

Year-over-Year Comparison

2023 2022 Change
Revenue $549,953 N/A N/A
Expenses $375,872 N/A N/A
Net Income $174,081 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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Governance

Voting Members
10
Independent Members
10
Employees
N/A
Volunteers
13

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
4
$0
Total Directors
10
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
CHE RHODES CHAIR 20.00
Officer Director
$0 $0 $0
YOLANDA SOMMER VICE CHAIR 3.00
Officer Director
$0 $0 $0
MEG MILES TREASURER 3.00
Officer Director
$0 $0 $0
COURTNEY MARTIN SECRETARY 3.00
Officer Director
$0 $0 $0
KENTO SAISHO DIRECTOR 3.00
Director
$0 $0 $0
ILA PROUTY DIRECTOR 3.00
Director
$0 $0 $0
VINCE WATCHORN DIRECTOR 3.00
Director
$0 $0 $0
AVERI MATTHEWS DIRECTOR 3.00
Director
$0 $0 $0
NANCY ALLISON DIRECTOR 3.00
Director
$0 $0 $0
ADAM COHEN DIRECTOR 3.00
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 No data No data No data No data
2023 $549,953 $375,872 $189,703 $174,081
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