2025-11-13T16:20:41-06:00 2025-06-30 710519090 EGP PLLC 611 MAIN STREET NORTH LITTLE ROCK AR 721145395 990 2024-07-01 522356755 THEA FOUNDATION THEA 5013793512 401 MAIN ST 100 NORTH LITTLE ROCK AR 72114 NICK LEOPOULOS EXECUTIVE DIRECTOR 5013799512 2025-11-11 1 1 JEFF CRONE CPA P01302049 5013742910 2024 2025-03-06 01:10:19Z NICK LEOPOULOS 401 MAIN STREET NORTH LITTLE ROCK AR 72114 2896118 0 X THEAFOUNDATION.ORG X 2001 AR TO ADVOCATE THE IMPORTANCE OF THE ARTS IN THE DEVELOPMENT OF OUR YOUTH. 13 13 4 0 0 0 1134885 820593 100000 0 378702 87298 -36064 -34617 1577523 873274 207900 172000 0 0 341522 336889 0 0 15445 519293 583243 1068715 1092132 508808 -218858 6184325 6168422 429186 356070 5755139 5812352 X TO ADVOCATE THE IMPORTANCE OF THE ARTS IN THE DEVELOPMENT OF OUR YOUTH. 0 0 324617 THEA'S ART CLOSET IS A PROGRAM THAT FUNDS ART-FOCUSED PROJECTS IN ARKANSAS FOR K-12 STUDENTS MATCHING DOLLARS FROM DONORS CHOOSE. IN THE 2024-2025 SCHOOL YEAR, THEA FUNDED 330 PROJECTS. 261070 172000 THE FOUNDATION AWARDS SCHOLARSHIPS TO HIGH SCHOOL SENIORS ACROSS THE STATE OF ARKANSAS. SCHOLARSHIP CATEGORIES INCLUDE VISUAL ART, PERFORMING ARTS, CREATIVE WRITING, FILMMAKING, AND FASHION DESIGN. THE MOTIVATION BEHIND THE SCHOLARSHIP PROGRAM IS TO REWARD HARDWORKING STUDENTS AND TO INSPIRE THEM TO BE CONFIDENT AND AMBITIOUS. 247308 THE ARTS RECONSTRUCTION PROGRAM PARTNERS WITH CULTURAL INSTITUTIONS AND ARTS ORGANIZATIONS IN ARKANSAS TO PROVIDE NEW AND AMPLIFY EXISTING ARTS PROGRAMMING WITHIN SCHOOLS. 82872 OTHER PUBLIC SERVICES - ART DEPARTMENT. 82872 915867 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 4 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR X THE ORGANIZATION 5013799512 401 MAIN ST NORTH LITTLE ROCK AR 72114 DAVE HAWSEY PRESIDENT 4.00 X X 0 0 0 JENNIFER HERRON PRESIDENT-ELECT 2.00 X X 0 0 0 BRENT BLACK TREASURER 2.00 X X 0 0 0 BRYANT PHELAN SECRETARY 2.00 X X 0 0 0 SHARON HEFLIN DIRECTOR 2.00 X 0 0 0 STEPHANIE LAMBERTH DIRECTOR 2.00 X 0 0 0 DAVID MARKS DIRECTOR 2.00 X 0 0 0 ALEX MONTEZ DIRECTOR 2.00 X 0 0 0 GREG PILEWSKI DIRECTOR 2.00 X 0 0 0 NATALIE ROCKEFELLER DIRECTOR 2.00 X 0 0 0 MICHAEL SHAEFFER DIRECTOR 2.00 X 0 0 0 MICHELE SHAW DIRECTOR 2.00 X 0 0 0 RAMY ZIMMEREBNER DIRECTOR 2.00 X 0 0 0 NICK LEOPOULOS EXECUTIVE DIRECTOR 40.00 X 106496 0 7384 106496 0 7384 1 0 0 0 PROSERVICE BUILDERS LLC 11300 N RODNEY PARHAM RD 125 LITTLE ROCK AR 72212 2ND FLOOR RENOVATION 115541 1 222223 170860 427510 820593 96589 96589 61919 96536 -34617 -34617 -34617 1917017 1925691 617 -8674 -617 -9291 -9291 0 222223 0 0 873274 0 0 52681 172000 172000 105000 84000 21000 191488 153190 38298 4812 3850 962 14537 11630 2907 21052 16842 4210 20613 20613 41694 18500 23194 264198 254478 7455 2265 2987 111 2876 14780 14780 442 442 51 51 42519 34015 8504 10916 10916 ART SUPPLIES 134125 134125 GALLERY EXPENSE 20417 19095 1322 EVENT EXPENSE 15857 3386 292 12179 BAD DEBT EXPENSE 9700 9700 4944 945 2998 1001 1092132 915867 160820 15445 569115 389895 1508234 1245010 9870 2000 35 20730 26373 1989473 612479 1273884 1376994 2800232 3126074 2225 2076 6184325 6168422 75341 43851 350000 300000 3845 12219 429186 356070 X 2697827 2672715 3057312 3139637 5755139 5812352 6184325 6168422 X -218858 289892 -13824 3 X 0 1 X 1 0 X 568238 809557 953514 1134885 820593 4286787 568238 809557 953514 1134885 820593 4286787 200192 4086595 125508 117954 137144 164514 158508 703628 4990415 0.81890 0.85600 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2036242 -9108 2027134 2012887 23355 2036242 2012554 333 2012887 2012554 2012554 2013037 483 2012554 1.00000 1 0 125000 125000 1787986 559638 1228348 37246 30174 7072 39241 22667 16574 1376994 LEASE DEPOSITS 12219 12219 X 1246495 289892 82712 372604 873891 -617 -617 873274 1189282 97150 97150 1092132 0 1092132 PART V, LINE 4: THE SOLE INTENDED USE OF THE ENDOWMENT FUNDS IS TO PROVIDE SCHOLARSHIPS FOR STUDENTS PART X, LINE 2: THE FOUNDATION HAS BEEN GRANTED TAX-EXEMPT STATUS AS PROVIDED BY THE UNITED STATES GOVERNMENT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ACCOUNTING STANDARDS CODIFICATION ("ASC") 740, INCOME TAXES REQUIRES CERTAIN DISCLOSURES ABOUT UNCERTAIN INCOME TAX POSITIONS. WHEN TAX RETURNS ARE FILED, IT IS PROBABLE THAT MOST TAX POSITIONS WOULD BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. HOWEVER, IT IS ALSO POSSIBLE THAT SOME POSITIONS MIGHT BE SUBJECT TO UNCERTAINTY AND RESULT IN A LOSS CONTINGENCY IF THE AMOUNT CAN BE REASONABLY ESTIMATED. THE AMOUNT RECOGNIZED IS SUBJECT TO ESTIMATION AND THE AMOUNT ULTIMATELY SUSTAINED FOR AN INDIVIDUAL UNCERTAIN TAX POSITION OR FOR ALL UNCERTAIN TAX POSITIONS IN THE AGGREGATE COULD DIFFER FROM THE AMOUNT RECOGNIZED. CURRENTLY, MANAGEMENT DOES NOT BELIEVE THAT ANY UNCERTAIN TAX POSITIONS EXIST UNDER THE PROVISIONS OF FASB ASC 740 OR ASC 450, CONTINGENCIES. NO PENALTIES OR INTEREST BY THE INTERNAL REVENUE SERVICE ("IRS") OR A STATE TAXING AUTHORITY WERE INCURRED AND RECORDED IN THESE FINANCIAL STATEMENTS. THE FOUNDATION HAS FILED OR WILL FILE ALL APPLICABLE FEDERAL AND STATE INCOME TAX RETURNS. FEDERAL INCOME TAX STATUTES DICTATE THAT TAX RETURNS FILED IN ANY OF THE PREVIOUS THREE REPORTING PERIODS REMAIN OPEN TO EXAMINATION. THIS INCLUDES THE TAX RETURNS FILED FOR THE YEARS ENDING JUNE 30, 2020, 2019, 2018, 2017. CURRENTLY, THE FOUNDATION HAS NO OPEN EXAMINATION WITH THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE NETTED AGAINST RENTAL INCOME 96,536. INVESTMENT EXPENSE NETTED AGAINST INVESTMENT INCOME -13,824. PART XI, LINE 4B - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSET -617. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSET 617. RENTAL EXPENSE NETTED AGAINST RENTAL INCOME 96,536. ROUNDING -3. THEA'S DAY OF GIVING 99108 99108 INTO THE BLUENY FUNDRAISER 117423 117423 2 5692 5692 222223 222223 1 COLLEGE SCHOLARSHIPS 27 172000 FMV PART I, LINE 2: THE FOUNDATION SENDS SCHOLARSHIP CHECKS DIRECTLY TO RECIPIENTS SCHOOL TO BE APPLIED TO STUDENTS ACCOUNT. FORM 990, PART VI, SECTION B, LINE 11B MAILED A COPY TO EACH BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 12C THEA FOUNDATION'S BYLAWS REQUIRE DIRECTORS TO DICLOSE MATERIAL FACTS TO THE BOARD OF DIRECTORS REGARDING ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST WIHTIN A REASONABLE TIME AFTER THE DIRECTOR BECOMES AWARE THAT A CONFLICT EXISTS, AND BEFORE ANY VOTE IS TAKEN ON A MATTER WHICH COULD BE AFFECTED BY THE DIRECTOR'S OPINIONS OR STATEMENTS ON THE ISSUE SUBJECT TO VOTE. MOREOEVER, A DIRECTOR IS NOT ALLOWED TO VOTE ON ANY TRANSACTION THAT MAY GIVE RISE TO AN ACTUAL/POTENTIAL CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 PROPOSED COMPENSATION IS COMPARED TO SIMILAR NONPROFIT EXECUTIVE DIRECTORS AROUND THE NATION WITH SIMILAR YEARS OF SERVICE AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: ROUNDING 3.