Funding Arts Broward Inc
- Assets
- $2.5m
- Revenue
- $654.3k
- Investments
- $431.6k
- Employees
- 2
- Location
- Fort Lauderdale, FL
- Founding
- 10/2003
- Data as of
- 06/2024
- EIN
- 20-0151317
Organization Overview
Funding Arts Broward Inc, operating under the name Funding Arts Broward, is located in Fort Lauderdale, FL. The organization was established in 2003. According to its NTEE Classification (A26) the organization is classified as: Arts & Humanities Councils & Agencies, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2024, Funding Arts Broward employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Funding Arts Broward is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Funding Arts Broward generated $654.3k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $637.1k during the year ending 06/2024. While expenses have increased by 14.0% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Funding Arts Broward has awarded 273 individual grants totaling $2,512,086. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
FUNDING ARTS BROWARD SUPPORTS, SUSTAINS AND ENRICHES THE ARTS IN OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDING ARTS BROWARD AWARDED 36 ART ORGANIZATIONS GRANTS RANGING FROM $3,000 TO $12,500 TO SUPPORT PERFORMANCES AND EXHIBITIONS IN BROWARD COUNTY.
FUNDING ARTS BROWARD (FAB) SUPPORTS ORGANIZATIONS BEYOND GIVING GRANTS VIA SEVERAL PROGRAMS DESIGNED TO INTRODUCE THE GRANTEES TO FAB MEMBERS, CORPORATE PARTNERS, AND GUESTS. MANY FAB MEMBERS GO ON TO BECOME PATRONS AND DIRECT DONORS TO THE ORGANIZATIONS THAT FUNDING ARTS BROWARD HAS FUNDED WITH A GRANT.
FUNDING ARTS BROWARD AWARDED 10 GRANTS TO 10 ARTS ORGANIZATIONS IN THE CATEGORY OF ARTS EDUCATIONS TARGETED TO THE K12 AGE GROUPS. GRANT AWARDS WERE BETWEEN $3,000 AND $10,000.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Riedel President | OfficerTrustee | 12 | $0 |
Jennifer O'flannery Anderson Vice President | OfficerTrustee | 6 | $0 |
Craig Wilson Treasurer | OfficerTrustee | 6 | $0 |
Angel Burgos Secretary | OfficerTrustee | 6 | $0 |
Dr Denise Patrick St Bell Member At Large | OfficerTrustee | 2 | $0 |
Steve Schermer Member At Large | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $237,075 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $338,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $575,765 |
| Total Program Service Revenue | $32,854 |
| Investment income | $45,096 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $546 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $654,261 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $400,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $28,894 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $109,972 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,623 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,674 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,016 |
| Fees for services: Other | $0 |
| Advertising and promotion | $55,781 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,426 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $782 |
| Insurance | $2,306 |
| All other expenses | $0 |
| Total functional expenses | $637,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,820 |
| Savings and temporary cash investments | $1,072,708 |
| Pledges and grants receivable | $1,003,400 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,707 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $431,609 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,529,244 |
| Accounts payable and accrued expenses | $11,250 |
| Grants payable | $647,200 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,330 |
| Total liabilities | $659,780 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,869,464 |
| Total liabilities and net assets/fund balances | $2,529,244 |
Grants Awarded
Over the last fiscal year, Funding Arts Broward Inc has awarded $333,400 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
FLORIDA CHILDREN'S THEATRE PURPOSE: SUPPORT ART PROGRAMMING | $22,000 |
SOUTH FLORIDA SYMPHONY ORCHESTRA INC PURPOSE: SUPPORT ART PROGRAMMING | $21,000 |
FANTASY THEATRE FACTORY INC PURPOSE: SUPPORT ART PROGRAMMING | $19,500 |
BROWARD PERFORMING ARTS FOUNDATION INC PURPOSE: SUPPORT ART PROGRAMMING | $16,500 |
SOUTH FLORIDA PRIDE WIND ENSEMBLE INC PURPOSE: SUPPORT ART PROGRAMMING | $17,500 |
FLORIDA YOUTH ORCHESTRA PURPOSE: SUPPORT ART PROGRAMMING | $15,800 |