International Folk Art Alliance Inc
- Assets
- $7.5m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 10
- Location
- Santa Fe, NM
- Founding
- 11/2007
- Data as of
- 12/2022
- EIN
- 35-2285824
Organization Overview
International Folk Art Alliance Inc, operating under the name Ifam, is located in Santa Fe, NM. The organization was established in 2007. According to its NTEE Classification (A24) the organization is classified as: Folk Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Ifam employed 10 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Ifam 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 12/2022, Ifam generated $4.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $2.2m during the year ending 12/2022. 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
ORGANIZATION'S MISSION: CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION PURCHASED THE HEADQUARTERS BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INTERNATIONAL FOLK ART MARKET: PRODUCING INTERNATIONAL FOLK ART MARKETS AS A PROGRAMMATIC OUTCOME OF HIGHLY CURATED ARTIST SELECTION AND ENTREPRENEURISM EDUCATION. IN 2021, IFAA WAS ABLE TO RETURN TO ITS ANNUAL EVENT IN JULY BUT MODIFICATIONS WERE MADE IN ORDER TO COMPLY WITH HEALTH ORDERS FROM THE STATE OF NEW MEXICO. IN 2022, IFAA RETURNED TO MORE NORMAL OPERATIONS WITH FEW HEALTH ORDER- DRIVEN MODIFICATIONS. THE ORGANIZATION WAS STILL IN A FINANCIAL AND OPERATIONAL REBUILDING PHASE THOUGH.
FOLK ART MATTERS LECTURES: PROMOTING CULTURAL EXCHANGE BY PROVIDING THE GENERAL PUBLIC OPPORTUNITIES TO LEARN ABOUT INTERNATIONAL FOLK ART AS A TRANSMISSION OF METHODS, MATERIALS AND TECHNIQUES PASSED ON THROUGH GENERATIONS. IFAA RETURNED TO A LIMITED SCHEDULE OF LECTURES IN THE 3RD QUARTER OF 2021 AND QUARTERLY LECTURES AND WORKSHOPS IN 2022. LECTURES WERE FREE TO THE PUBLIC AND A SMALL MATERIALS FEE WAS CHARGED FOR WORKSHOPS.
THE IFAM COLLECTION AT DALLAS MARKET CENTER: EXPANDING OPPORTUNITIES FOR ARTISANS BY OFFERING ADVANCED ENTREPRENEURISM EDUCATION, INCLUDING SOCIAL ENTERPRISE MODELS AND IN-COUNTRY CURRICULUM DELIVERY, AND SALES VENUES, INCLUDING WHOLESALE AND VIRTUAL CHANNELS. THIS WAS NOT PROVIDED IN 2021 HOWEVER THE MARKET IN THE DALLAS MARKET CENTER RESUMED IN 2022.
MENTOR TO MARKET (M2M): TRAINING PROGRAM THAT TEACHES ARTISTS CRITICAL MARKETING AND BUSINESS SKILLS TO HELP THEM IMPROVE THEIR SALES, THUS SUSTAINING THEIR TRADITIONS AND CREATING STRONGER ECONOMY FOR THEMSELVES AND THEIR COMMUNITIES. IN 2021, THESE TRAINING PROGRAMS CONTINUED ONLINE BUT RETURNED TO IN-PERSON TRAINING IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Kimball Chair | OfficerTrustee | 10 | $0 |
Hank Coleman Vice Chair | OfficerTrustee | 5 | $0 |
Lisa Adelman Secretary | OfficerTrustee | 2 | $0 |
Nancy Bern Treasurer | OfficerTrustee | 2 | $0 |
Lisa Ahmad Director | Trustee | 1 | $0 |
Amanda Alexander Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wolf Corp Leasehold Improvements | 10/30/17 | $859,424 |
Paul Thompson & Associates Market Logistics And Transportation | 10/30/17 | $126,425 |
Classic Party Rentals Tent Rentals | 10/30/17 | $117,453 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,245 |
| Related organizations | $0 |
| Government grants | $14,987 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,926,493 |
| Noncash contributions included in lines 1a–1f | $105,486 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,951,725 |
| Total Program Service Revenue | $976,919 |
| Investment income | $37,889 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $720 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$20,624 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,982,562 |
| 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. | $172,731 |
| Compensation of current officers, directors, key employees. | $48,612 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $334,975 |
| Pension plan accruals and contributions | $8,966 |
| Other employee benefits | $29,245 |
| Payroll taxes | $39,161 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $151 |
| Fees for services: Accounting | $45,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $147,355 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $69,852 |
| Royalties | $0 |
| Occupancy | $259,910 |
| 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 | $115,048 |
| Insurance | $13,625 |
| All other expenses | $0 |
| Total functional expenses | $2,183,465 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,042,793 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $164,785 |
| 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 | $161,353 |
| Prepaid expenses and deferred charges | $17,317 |
| Net Land, buildings, and equipment | $3,271,655 |
| Investments—publicly traded securities | $1,640,525 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $225,083 |
| Total assets | $7,523,511 |
| Accounts payable and accrued expenses | $45,496 |
| 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 | $91,007 |
| Total liabilities | $136,503 |
| Net assets without donor restrictions | $5,568,267 |
| Net assets with donor restrictions | $1,818,741 |
| 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 | $7,523,511 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Folk Art Alliance Inc Santa Fe, NM | $7,523,511 | $3,982,562 |
Teco Theatrical Productions Inc Dallas, TX | $1,898,543 | $1,287,455 |
Roots Music Project Foundation Boulder, CO | $80,465 | $701,272 |
Lone Star Cowboy Poetry Gathering Alpine, TX | $18,191 | $230,625 |
Classical Art Society Of Houston Sugar Land, TX | $129,588 | $0 |
All American Cloggers St George, UT | $14,346 | $0 |
Tunas Mekar Incorporated Denver, CO | $25,659 | $0 |
International Arts Society Richmond, TX | $0 | $0 |