Annual Report 2023
Preservation of the Ancient Arts, Inc.
5400 E. Texas Street, Bossier City, LA 71111
(318) 222-0323 or (318) 464-7504
Tax ID: 65-1200650
501(c)(3)
Public Charity Status:
509(a)(2)
Effective April 13, 2023
OVERVIEW
We are pleased to present the annual report for the fiscal year ending 2023. This year has been a year of challenges and opportunities, and we are proud to report that we have made significant progress toward achieving our strategic goals.
We are committed to making a positive impact on families. Our team continues to look for opportunities that will allow us to serve the community. Finally, we would like to thank our students, coaches, and partners for their continued support and dedication.
NEW INITIATIVES
Our goal is to find more organizations that will join our efforts to stop bullying, promote positive self-esteem, and instill solid values that support mental and physical health for all ages.
SIGNIFICANT INVESTMENTS
We identified our target population that struggles with low self-esteem, mental health, and physical health and are targets of bullying. We have plans to saturate those areas with the opportunity to join our martial arts program without regard to their ability to pay.
DELIVERING IMPACT
YEAR IN REVIEW
GROWTH
Following two rough years of COVID-19 shutdowns, our school struggled to rebuild; however, 2023 was a breakthrough year for us. We went from zero students to 32 from January - December. We also were granted our non-profit 501(c)(3) status on 4/24/2023 which will allow us to solicit donations that are tax deductible under IRC Section 170.
Scholarships
Thanks to our generous donors, we could provide scholarships to seven families - ((18 students).
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 December 2023
|
Note |
Restricted funds $000 |
Unrestricted funds $000 |
Total funds $000 |
|
|---|---|---|---|---|
|
Income from: |
||||
|
Donations and legacies |
Private Donor ($30,000) Geaux Forward, LLC ($5,000) Synergy Healthcare (in-kind) |
$35,000 |
$35,000 |
|
|
Membership |
Students |
- |
$5,778 |
$5,778 |
|
Space Share |
Gracies, Geaux Forward A&J School of Dance |
$8,250 |
$8,250 |
|
|
Total income: |
|
$49,028 |
$49,028 |
|
|
Instructors |
$10,011 |
|||
|
Scholarships (pd in instructor/operations fee) |
$3,723 ($3,723) |
|||
|
Expense pd for students / Dallas Training |
$2,500 |
|||
|
CNY - Sponsored Demo |
$2,350 |
|||
|
Uniform Shirts |
$2,347.96 |
|||
|
Uniform Pants/Sashes/Macho Gear |
$1,392.58 |
|||
|
Insurance / Liability FL Dean & Associates |
$868.80 |
|||
|
Rent & Utilities / offset by in-kind donations from Synergy International Healthcare, Inc. |
$42,000 ($42,000) = 0 pd out |
|||
|
Mudgbug Madness Demo |
$500 |
|||
|
Rank Test Supplies & Materials |
$500 |
|||
|
Total expenditure: |
$11,074.72 |
|||
|
Note |
Restricted funds $000 |
Unrestricted funds $000 |
Total funds $000 |
|
|---|---|---|---|---|
|
Total Revenue from all sources |
0 |
$49,028 |
$49,028 |
|
|
Total Expenses Paid Out in Cash |
($11,074.72) |
($11,074.72) |
||
|
|
|
|||
|
Total funds carried forward |
$37,953.28 |
|||
*The Statement of Financial Activities includes all gains and losses recognized in the year.
HELP US HELP OTHERS
Thank you for your continued support. We hope to change the world effectively, one student at a time, with your help!
The information above comprises our Annual Report and Financial Statements.
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