Fine Arts Society Of Sarasota Inc
- Assets
- $2.0m
- Revenue
- $202.0k
- Investments
- $14.2k
- Employees
- 0
- Location
- Sarasota, FL
- Founding
- 02/1971
- Data as of
- 04/2024
- 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 04/2024, Fine Arts Society Of Sarasota Inc generated $202.0k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $125.2k during the year ending 04/2024. While expenses have increased by 7.3% per year over the past 8 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
2024
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.DOCENT-LED TOURS OF THE ART COLLECTION ARE AVAILABLE TO THE PUBLIC ON A WEEKLY BASIS. IN COOPERATION WITH THE COUNTY SCHOOL DISTRICTS AWARDS ARE ALSO GIVEN TO WINNING MIDDLE SCHOOL STUDENTS IN AN ANNUAL ART COMPETITION.
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 SEVENTY PIECES OF ARTWORK, CONSISTING OF PAINTINGS AND SCULPTURES, 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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carole Schwartz President | OfficerTrustee | 35 | $0 |
William Rusling Vice President | OfficerTrustee | 1 | $0 |
Elaine Foster Treasurer | OfficerTrustee | 25 | $0 |
Sharon Saatsoglou Corresponding Secretary | OfficerTrustee | 1 | $0 |
Evelyn Levin Recording Secretary | OfficerTrustee | 1 | $0 |
Jeannette Paladino Past President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,380 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $71,519 |
| Noncash contributions included in lines 1a–1f | $9,295 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,899 |
| Total Program Service Revenue | $65,606 |
| Investment income | $54,104 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $201,989 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $38,500 |
| 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 | $2,205 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $89 |
| Fees for services: Other | $1,183 |
| Advertising and promotion | $16,670 |
| Office expenses | $5,157 |
| Information technology | $4,460 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $1,443 |
| All other expenses | $7,666 |
| Total functional expenses | $125,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $172,506 |
| 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 | $1,446,926 |
| Investments—other securities | $14,200 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $393,983 |
| Total assets | $2,027,615 |
| 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 | $933,480 |
| Net assets with donor restrictions | $1,094,535 |
| 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 | $2,027,615 |