American Folklore Society Inc
- Assets
- $750.8k
- Revenue
- $303.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, IN
- Founding
- 09/1942
- Data as of
- 08/2020
- EIN
- 23-1627523
Organization Overview
American Folklore Society Inc is located in Bloomington, IN. The organization was established in 1942. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Folklore Society Inc 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 08/2020, American Folklore Society Inc generated $303.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (14.9%) each year. All expenses for the organization totaled $380.0k during the year ending 08/2020. As we would expect to see with falling revenues, expenses have declined by (9.8%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, ADVANCE, STIMULATE, AND ENCOURAGE INTEREST AND RESEARCH IN, AND TO SERVE AS A BOND AMONG THOSE INTERESTED IN THE STUDY OF FOLKLORE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WITH FUNDS RAISED, WE WERE ABLE TO PROVIDE OUR MEMBERS AND THE GENERAL PUBLIC BY PROVIDING PROGRAMMING, PUBLICATIONS, POLICIES, RESOURCES AND PROFESSIONAL DEVELOPMENT TO FURTHER OUR MISSION TO SUPPORT THE STUDY OF FOLKLORE AND EXPRESSIVE CULTURAL TRADITIONS IN THE UNITED STATES OF AMERICA AND THROUGHOUT THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jessica Turner Executive Dir. | OfficerTrustee | 40 | $75,167 |
Norma Cantu President | OfficerTrustee | 2 | $0 |
Amanda Dargan Director | Trustee | 1 | $0 |
Luisa Del Giudice Director | Trustee | 1 | $0 |
Thomas Dubois Director | Trustee | 1 | $0 |
Michael Dylan Foster Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $83,022 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $20,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $46,984 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,006 |
| Total Program Service Revenue | $152,969 |
| Investment income | $726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,701 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,167 |
| Compensation of current officers, directors, key employees. | $30,067 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,116 |
| Pension plan accruals and contributions | $17,207 |
| Other employee benefits | $31,921 |
| Payroll taxes | $9,714 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,994 |
| Advertising and promotion | $839 |
| Office expenses | $2,332 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $22,840 |
| 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 | $0 |
| Insurance | $2,294 |
| All other expenses | $35,745 |
| Total functional expenses | $380,006 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $163,795 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $415 |
| 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 | $1,036 |
| Investments—publicly traded securities | $552,794 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,796 |
| Total assets | $750,836 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $191,278 |
| 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 | $32,400 |
| Other liabilities | $1 |
| Total liabilities | $223,679 |
| Net assets without donor restrictions | $507,694 |
| Net assets with donor restrictions | $19,463 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $750,836 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that American Folklore Society Inc has recieved totaling $94.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $94 |
Endowment Analysis
| Beg. Balance | $333,452 |
| Earnings | $31,609 |
| Ending Balance | $365,061 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
John Michael Kohler Arts Center Inc Sheboygan, WI | $91,886,755 | $7,533,321 |
Puerto Rican Cultural Center Chicago, IL | $9,175,566 | $9,769,703 |
United States Artists Inc Chicago, IL | $40,639,117 | $6,830,121 |
Center Of Creative Arts Saint Louis, MO | $22,497,336 | $9,712,696 |
Bertha D Garten Ketcham Memorial Center Inc Odon, IN | $9,035,091 | $6,675,118 |
Kohler Trust For The Arts And Education Kohler, WI | $9,068,772 | $5,585,156 |
Kranzberg Arts Foundation St Louis, MO | $18,112,007 | $6,602,930 |
The Center For The Performing Arts Inc Carmel, IN | $11,269,434 | $4,631,898 |
American College Of Occupational And Environmental Medicine Elk Grove Village, IL | $5,115,240 | $3,683,433 |
Winnetka Community House Winnetka, IL | $15,269,238 | $4,423,430 |
Association Of American Voices Saint Louis, MO | $696,688 | $3,487,679 |
Milwaukee County War Memorial Inc Milwaukee, WI | $14,315,972 | $2,406,675 |