Fine Arts Society Of Indianapolis
- Assets
- $624.4k
- Revenue
- $309.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Indianapolis, IN
- Founding
- 01/1969
- Data as of
- 12/2023
- EIN
- 23-7002448
Organization Overview
Fine Arts Society Of Indianapolis, operating under the name Classical Music Indy Inc, is located in Indianapolis, IN. The organization was established in 1969. 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 12/2023, Classical Music Indy Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Classical Music Indy 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 12/2023, Classical Music Indy Inc generated $309.9k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $671.6k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE ORGANIZATION IS TO INSPIRE PEOPLE IN THE COMMUNITY WITH THE POWER OF CLASSICAL MUSIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STREAMING AND SYNDICATION - CMI PRODUCES TWO CLASSICAL MUSIC STREAMING CHANNELS; LOCAL MUSIC AND NEW MUSIC FOR AN AUDIENCE OF ABOUT 40,000 EACH YEAR. SYNDICATION SERVES CLIENTS PROVIDING CLASSICAL MUSIC IN INDIANA, OHIO, WASHINGTON, AND OREGON. WE DO NOT HAVE ENOUGH REVENUE COLLECTED FROM OUR SYNDICATION PROGRAM CUSTOMERS, SO WE USE OUR RESTRICTED CASH AND GENERAL CONTRIBUTIONS TO SUPPORT THIS PROGRAM.
PROMOTE AND ADVOCATE FOR CLASSICAL MUSIC AND CLASSICAL MUSIC-MAKERS.
MUSIC UNITES - INCLUDES THE FOLLOWING PROGRAMS: AFTER SCHOOL INDY, COMMUNITY CONCERTS, RANDOM ACTS OF MUSIC AND SENIOR SERIES. SINCE WE DO NOT COLLECT DONATIONS FORM THESE PROGRAMS, WE USED OUR RESTRICTED ASSETS AND GENERAL DONATIONS TO SUPPORT THESE.
PODCASTS - CMI PRODUCES TWO CLASSICAL MUSIC PODCASTS: MELANATED MOMENTS IN CLASSICAL MUSIC, WHICH SHINES A SPOTLIGHT ON MUSICAL WORKS COMPOSED BY, FOR, AND ABOUT PEOPLE OF COLOR, AND CLASSICAL PAIRINGS, WHICH PAIRS ARTISINAL FOOD AND DRINK IN INDIANAPOLIS WITH CLASSICAL MUSIC. WE DO NOT HAVE ENOUGH REVENUE COLLECTED FROM OUR PODCAST LISTENERS, SO WE USE OUR RESTRICTED CASH AND GENERAL CONTRIBUTIONS TO SUPPORT THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julia Holbrook Executive Director | Officer | 28 | $77,278 |
Michael Toulouse Program Director | Officer | 12 | $76,447 |
Kathryn Patterson Chair | OfficerTrustee | 5 | $0 |
Kent Cook Vice-Chair | OfficerTrustee | 5 | $0 |
Janice Roger Secretary | OfficerTrustee | 5 | $0 |
Gerald V Hinchman Charter & Lifetime Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,864 |
| Related organizations | $0 |
| Government grants | $30,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $206,370 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $240,734 |
| Total Program Service Revenue | $60,146 |
| Investment income | $19,162 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,130 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $309,912 |
| 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. | $166,708 |
| Compensation of current officers, directors, key employees. | $39,633 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $152,652 |
| Pension plan accruals and contributions | $4,420 |
| Other employee benefits | $45,050 |
| Payroll taxes | $25,939 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,420 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,223 |
| Fees for services: Other | $176,473 |
| Advertising and promotion | $17,981 |
| Office expenses | $9,052 |
| Information technology | $16,915 |
| Royalties | $0 |
| Occupancy | $11,859 |
| Travel | $1,338 |
| 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 | $5,353 |
| Insurance | $5,380 |
| All other expenses | $4,807 |
| Total functional expenses | $671,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,352 |
| Savings and temporary cash investments | $6,310 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,484 |
| 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 | $2,637 |
| Net Land, buildings, and equipment | $2,436 |
| Investments—publicly traded securities | $511,056 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,119 |
| Total assets | $624,394 |
| Accounts payable and accrued expenses | $22,273 |
| Grants payable | $0 |
| 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 | $25,790 |
| Total liabilities | $48,063 |
| Net assets without donor restrictions | $475,013 |
| Net assets with donor restrictions | $101,318 |
| 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 | $624,394 |