Fine Arts Society Of Sarasota Inc
- Assets
- $1.8m
- Revenue
- $162.2k
- Investments
- $171.5k
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 02/1971
- Data as of
- 04/2022
- EIN
- 23-7098475
Organization Overview
Fine Arts Society Of Sarasota Inc is located in Sarasota, FL. The organization was established in 1971. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, 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. Fine Arts Society Of Sarasota 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 04/2022, Fine Arts Society Of Sarasota Inc generated $162.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $109.6k during the year ending 04/2022. While expenses have increased by 6.4% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEDICATED TO SUPPORTING AND STIMULATING THE ARTS IN SARASOTA:- ENCOURAGES A GREATER UNDERSTANDING OF ALL ART FORMS- PROVIDES SCHOLARSHIPS TO TALENTED ART STUDENTS IN SARASOTA COUNTY- OFFERS GRANTS TO LOCAL ARTS ORGANIZATIONS CONGRUENT WITH THE MISSION- MAINTAINS A PUBLIC EXHIBITION OF WORKS BY FLORIDA ARTISTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PHILANTHROPYSINCE 1969, THE FINE ARTS SOCIETY OF SARASOTA, INC. HAS AWARDED OVER $1,300,000 IN SCHOLARSHIPS TO STUDENTS PURSUING CAREERS IN THE ARTS AND ALLOWS THE COMPLIMENTARY USE OF THE ARTS ADVOCATES GALLERY FOR EVENTS AND EXHIBITS TO LOCAL ARTS AND EDUCATIONAL ORGANIZATIONS WHOSE MISSION IS CONGRUENT WITH THAT OF FINE ARTS. IN RECENT YEARS, OUR SCHOLARSHIP STUDENTS HAVE PREPARED FOR PROFESSIONAL CAREERS IN DRAWING, PAINTING, SCULPTURE, PHOTOGRAPHY, FILM, DANCE, MUSICAL THEATRE, SET DESIGN, VOCAL AND INSTRUMENTAL MUSIC, CREATIVE WRITING, AND ARCHITECTURE. AMONG THE MANY SCHOOLS OUR SCHOLARS HAVE ATTENDED ARE CARNEGIE MELLON UNIVERSITY, CLEVELAND INSTITUTE OF ART, MANHATTAN SCHOOL OF MUSIC, RINGLING COLLEGE OF ART AND DESIGN, UNIVERSITY OF MIAMI AND THE UNIVERSITY OF FLORIDA. MANY OF THESE STUDENTS RETURN TO SARASOTA, FLORIDA WHILE OTHERS LIVE AND WORK IN ALL PARTS OF THE WORLD.OUTREACH GRANTS ARE MADE TO SUPPORT LOCAL ARTS ORGANIZATIONS SUCH AS THE VAN WEZEL PERFORMING ARTS HALL, THE ASOLO REPERTORY THEATRE, THE SARASOTA BALLET, SARASOTA SCHOOLS' "ANY GIVEN CHILD PROGRAM", SARASOTA YOUTH ORCHESTRA AND WEDU PUBLIC TELEVISION.TO FURTHER INSPIRE CREATIVITY, "LUMINAIRE AWARDS" WERE PRESENTED TO OUTSTANDING LEADERS AMONG THE VARIOUS ARTS ORGANIZATIONS IN SARASOTA, FLORIDA INCLUDING THE HOWARD TIBBLES MINIATURE CIRCUS, DIRECTOR OF THE WEST COAST BLACK THEATRE TROUPE, DIRECTOR OF THE SARASOTA OPERA ANDDIRECTORS OF THE FLORIDA STUDIO THEATRE.
EDUCATIONAL/INFORMATIONAL PROGRAMS FOR FINE ARTS MEMBERS AND GUESTS.THE FINE ARTS SOCIETY OF SARASOTA, INC. PROGRAM COMMITTEE IS CHARGED WITH ARRANGING SPEAKERS, EDUCATIONAL TOURS, WORKSHOPS AND SALONS (VISITS TO PRIVATE COLLECTIONS) THROUGHOUT THE YEAR. COMMUNITY LEADERS IN ALL AREAS OF THE ARTS AND EDUCATION ARE INVITED TO ADDRESS THE GENERAL MEMBERSHIP AT MONTHLY MEETINGS FROM OCTOBER THROUGH MAY. THESE PROGRAMS PROVIDE CONTINUING EDUCATION OPPORTUNITIES FOR FINE ARTS MEMBERS, FAMILY AND GUESTS.
THE COLLECTIONTHE FINE ARTS SOCIETY OF SARASOTA, INC. HAS ESTABLISHED AND MAINTAINS A COLLECTION OF SOME FIFTY-SIX PAINTINGS BY ARTISTS WHO RESIDE IN OR HAVE TIES TO FLORIDA. THESE WORKS ARE ON EXHIBITION AT THE CITY'S VAN WEZEL PERFORMING ARTS HALL AND THE ARTS ADVOCATES GALLERY WHERE MEMBERS AND VISITORS MAY ENJOY VIEWING THEM. IN ADDITION, SPECIAL DOCENT LEAD TOURS ARE AVAILABLE TO THE PUBLIC ON A MONTHLY BASIS AND PLANS ARE UNDERWAY TO ARRANGE EDUCATIONAL, GUIDED TOURS FOR ELEMENTARY AND MIDDLE SCHOOL STUDENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeannette Paladino President | OfficerTrustee | 33 | $0 |
Carole Schwartz Corresponding Secretary | OfficerTrustee | 2 | $0 |
Susan Rawson Recording Secretary | OfficerTrustee | 3 | $0 |
Elaine Foster Treasurer | OfficerTrustee | 21 | $0 |
Stephenie Frasher Director | Trustee | 5 | $0 |
John Lindsey Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,275 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $91,592 |
| Noncash contributions included in lines 1a–1f | $12,300 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $103,867 |
| Total Program Service Revenue | $30,976 |
| Investment income | $17,585 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,800 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,228 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,257 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,814 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,370 |
| Office expenses | $716 |
| Information technology | $8,229 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $12,326 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,026 |
| All other expenses | $10,836 |
| Total functional expenses | $109,598 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,648 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $1,239,940 |
| Investments—other securities | $171,515 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $247,053 |
| Total assets | $1,759,156 |
| Accounts payable and accrued expenses | -$400 |
| 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 | $0 |
| Total liabilities | -$400 |
| Net assets without donor restrictions | $660,021 |
| Net assets with donor restrictions | $1,099,535 |
| 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 | $1,759,156 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Fine Arts Society Of Sarasota Inc has recieved totaling $30,800.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Sarasota County Inc Sarasota, FL PURPOSE: GENERAL SUPPORT, PROGRAM SUPPORT, SCHOLARSHIP SUPPORT | $18,784 |
Gulf Coast Community Foundation Inc Venice, FL PURPOSE: ARTS & CULTURE | $12,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $16 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Historical Society Inc Atlanta, GA | $186,882,791 | $33,828,707 |
Fox Theatre Inc Atlanta, GA | $106,794,461 | $20,353,110 |
Vizcaya Museum And Gardens Trust Inc Miami, FL | $11,712,180 | $11,588,414 |
The Lodges At Banning Mills Retreat And Conservation Center Inc Whitesburg, GA | $8,373,902 | $8,117,551 |
Bellingrath-Morse Foundation Theodore, AL | $109,592,614 | $8,669,562 |
Thomas Edison And Henry Ford Winter Estates Inc Fort Myers, FL | $5,261,468 | $5,556,922 |
Atlanta Beltline Partnership Inc Atlanta, GA | $54,208,865 | $38,882,931 |
Roshan Institute Of Cultural Heritage Orlando, FL | $8,118,910 | $2,379,053 |
B J Palmer Historic Home Foundation Inc Marietta, GA | $0 | $2,223,386 |
Georgia Trust For Historic Preservation Inc Atlanta, GA | $16,904,162 | $2,663,570 |
Educopia Institute Inc Atlanta, GA | $2,468,472 | $2,053,368 |
Historic Oakland Foundation Inc Atlanta, GA | $10,625,800 | $4,650,035 |