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Nonprofit · EIN 52-2356755

THEA FOUNDATION

Tax-exempt · N LITTLE ROCK, AR 72114

Financials

$1.6M$1.1M2023$873K$1.1M2024
Revenue Expenses · by fiscal year end
Financials of THEA FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$873,274$1,092,132-$218,858$6,168,422$356,070$5,812,352
June 30, 2024990$1,577,523$1,068,715$508,808$6,184,325$429,186$5,755,139
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$820,593
of which government grants
$170,860
Program service revenue
$0
Investment income
$87,298
Net rental income
-$34,617
Net gain from sales of assets
-$9,291
Other revenue
-$34,617

Expenses

Grants and similar amounts paid
$172,000
Compensation of officers, directors and key employees
$105,000
Other salaries and wages
$191,488
Salaries, compensation and benefits (total)
$336,889
Professional fundraising fees
$0
Accounting fees
$20,613
Occupancy
$442
Travel
$51
Depreciation
$42,519
Program services (functional)
$915,867
Management and general (functional)
$160,820
Fundraising (functional)
$15,445

Balance sheet and other

Total assets, start of year
$6,184,325
Total assets, end of year
$6,168,422
Total liabilities, end of year
$356,070
Net assets, end of year
$5,812,352
Land, buildings and equipment
$1,376,994
Publicly traded securities
$3,126,074
Net assets without donor restrictions
$2,672,715
Net assets with donor restrictions
$3,139,637
Gross receipts
$2,896,118
Employees
4
Volunteers
0
Year formed
2001
State of legal domicile
AR

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
NICK LEOPOULOSEXECUTIVE DIRECTOR
Officer
40$106,496$7,384
DAVE HAWSEYPRESIDENT
Trustee or director, Officer
4$0$0
JENNIFER HERRONPRESIDENT-ELECT
Trustee or director, Officer
2$0$0
BRENT BLACKTREASURER
Trustee or director, Officer
2$0$0
BRYANT PHELANSECRETARY
Trustee or director, Officer
2$0$0
SHARON HEFLINDIRECTOR
Trustee or director
2$0$0
STEPHANIE LAMBERTHDIRECTOR
Trustee or director
2$0$0
DAVID MARKSDIRECTOR
Trustee or director
2$0$0
ALEX MONTEZDIRECTOR
Trustee or director
2$0$0
GREG PILEWSKIDIRECTOR
Trustee or director
2$0$0
NATALIE ROCKEFELLERDIRECTOR
Trustee or director
2$0$0
MICHAEL SHAEFFERDIRECTOR
Trustee or director
2$0$0
MICHELE SHAWDIRECTOR
Trustee or director
2$0$0
RAMY ZIMMEREBNERDIRECTOR
Trustee or director
2$0$0
990 for the year ended June 30, 2024: 13 people
NameTitleHours / weekCompensationOther / benefits
NICK LEOPOULOSEXECUTIVE DIRECTOR
Trustee or director, Officer
40$102,336$7,370
DAVE HAWSEYPRESIDENT
Trustee or director, Officer
4$0$0
BRENT BLACKTREASURER
Trustee or director, Officer
2$0$0
SHARON HEFLINDIRECTOR
Trustee or director
2$0$0
JENNIFER HERRONDIRECTOR
Trustee or director
2$0$0
STEPHANIE LAMBERTHDIRECTOR
Trustee or director
2$0$0
DAVID MARKSDIRECTOR
Trustee or director
2$0$0
ALEX MONTEZDIRECTOR
Trustee or director
2$0$0
GREG PILEWSKIDIRECTOR
Trustee or director
2$0$0
MICHAEL SHAEFFERDIRECTOR
Trustee or director
2$0$0
MICHELE SHAWDIRECTOR
Trustee or director
2$0$0
RAMY ZIMMEREBNERDIRECTOR
Trustee or director
2$0$0
BRYANT PHELANSECRETARY
Officer
2$0$0

Address and contacts

Address (IRS master file)
401 MAIN ST STE 100, N LITTLE ROCK, AR 72114-5400
In care of
% PAUL LEOPOULOS
Principal officer (990 for 2024)
NICK LEOPOULOS, 401 MAIN STREET, NORTH LITTLE ROCK, AR 72114
Signed the 990
NICK LEOPOULOS, EXECUTIVE DIRECTOR
Phone
(501) 379-3512
Return prepared by
EGP PLLC

Mission

TO ADVOCATE THE IMPORTANCE OF THE ARTS IN THE DEVELOPMENT OF OUR YOUTH.

990 for the year ended June 30, 2025

Program accomplishments

  • 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.
    Expenses $324,617
  • 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.
    Expenses $261,070 · grants $172,000
  • THE ARTS RECONSTRUCTION PROGRAM PARTNERS WITH CULTURAL INSTITUTIONS AND ARTS ORGANIZATIONS IN ARKANSAS TO PROVIDE NEW AND AMPLIFY EXISTING ARTS PROGRAMMING WITHIN SCHOOLS.
    Expenses $247,308
  • OTHER PUBLIC SERVICES - ART DEPARTMENT.
    Expenses $82,872

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
52-2356755
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2002
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Human services (P40)
Assets (IRS master file)
$6,168,422
Income (IRS master file)
$2,896,118

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$873,274$1,092,132$6,168,422IRS
990June 2024$1,577,523$1,068,715$6,184,325XML
990June 2023$1,196,723$1,014,380$5,762,475IRS
990June 2022–––IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990December 2017–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about THEA FOUNDATION

What is the EIN of THEA FOUNDATION?
The employer identification number (EIN) of THEA FOUNDATION is 52-2356755.
Is THEA FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
Are donations to THEA FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does THEA FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of THEA FOUNDATION due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did THEA FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of THEA FOUNDATION?
The 990 for the year ended June 30, 2025 names NICK LEOPOULOS.
Who are the officers and directors of THEA FOUNDATION?
The 990 for the year ended June 30, 2025 lists 14 people; 1 received compensation from the organization, the highest $106,496 (NICK LEOPOULOS, EXECUTIVE DIRECTOR).
How much revenue does THEA FOUNDATION have?
On its 990 for the year ended June 30, 2025 it reported revenue of $873,274, expenses of $1,092,132 and total assets of $6,168,422 at year end.

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