Praize Productions Inc Nfp

Nonprofit profile at a glance

EIN
273321845
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Chicago, IL, USA
Phone
2198059074
Rating
73
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Arts Education

Official website

Reported finances

Revenue
$419,296
Expenses
$354,096
Assets
$350,023
Liabilities
$1,838

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Highest reported compensation

  • ENNERESSA DAVIS (BOARD CHAIR): $80,638 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of praize productions inc, nfp is to provide arts education and opportunities to youth and adults through a holistic approach that allows participants to excel in the arts and in their everyday lives.

What it reported doing in 2024

Praize production performing arts academy our academy offers a unique and holistic approach to artistry that focuses on the student as both an artist and person. Committed to providing high quality arts education that helps cultivate well-rounded, responsible, and compassionate individuals. The programming is centered around building families and communities that positively reflect and impact young people. The academy runs september through june with a summer camp in july. We offer ten classes weekly to youth ages 3-18. Some of those classes are tumbling, ballet, jazz, hip-hop, and much more. We also take our students on field experiences to gain outside exposure as well as host regular parent meetings and have dance report cards to discuss the students' progress throughout the year. Over 25 students were enrolled.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 100
  • Accountability: 32
  • Sustainability: 52
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 67.5%; rating input score 68
  • Program expense ratio: 79.9%; rating input score 80
  • Fundraising efficiency: $51.92 raised per $1 spent on fundraising; rating input score 77; 77th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 25%; rating input score 25; 15th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.5%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.99; rating input score 40; 40th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 50; 50th percentile among comparable filings
  • Officer compensation ratio: 22.8%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: 20.8% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 29.2% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 44.4% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 67.5% of revenue deployed · 79.9% of spending went to programs
  • Governance: 2 of 8 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $263K in reported program spending
  • Leadership: top reported pay $81K · 4 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Independent voting board scored 25/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 40/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.
  • Review — Sustainability: Liabilities to assets ratio scored 50/100.