Dallas Art Fair Foundation
- Assets
- $62.7k
- Revenue
- $231.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- 01/2013
- Data as of
- 12/2022
- EIN
- 46-1227056
Organization Overview
Dallas Art Fair Foundation is located in Dallas, TX. The organization was established in 2013. According to its NTEE Classification (A12) the organization is classified as: Fund Raising & Fund Distribution, 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. Dallas Art Fair Foundation 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, Dallas Art Fair Foundation generated $231.6k 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 (11.7%) each year. All expenses for the organization totaled $241.3k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (8.0%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Dallas Art Fair Foundation has awarded 12 individual grants totaling $693,050. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION HAS BEEN ORGANIZED FOR THE PRIMARY PURPOSE TO RAISE DONATIONS THAT WILL BE USED TO PROMOTE APPRECIATION OF THE ARTS IN DALLAS COUNTY, TEXAS. THE FOUNDATION WILL CONDUCT AN ANNUAL FUND RAISING EVENT TO BE CALLED THE DALLAS ART FAIR GALA (THE GALA). PATRONS OF THE ARTS COMMUNITY WILL BE INVITED TO MAKE DONATIONS THROUGH THE PURCHASE OF TICKETS TO ATTEND THIS EDUCATIONAL EVENT AND CELEBRATION OF THE ARTS. ALL PROCEEDS FROM THE GALA WILL BE DISTRIBUTED TO CHARITABLE OR EDUCATIONAL BENEFICIARIES IN THE ARTS COMMUNITY. THE CHARITABLE AND EDUCATIONAL BENEFICIARIES OF THE PROCEEDS FROM THE GALA WILL BE SELECTED EACH YEAR BY THE DIRECTORS OF THE FOUNDATION BASED ON MERIT AND NEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DALLAS ART FAIR FOUNDATION (DAFF) PROMOTES NATIONAL AND INTERNATIONAL EDUCATION AND APPRECIATION IN ART, CULTURE AND HUMANITIES THROUGH FUND RAISING AND FUND DISTRIBUTION. DAFF PROVIDES GRANTS AND AWARDS TO OTHER CHARITABLE ORGANIZATIONS. THIS YEAR, A TOTAL OF $166,800 WAS GRANTED TO DALLAS CONTEMPORARY, DALLAS MUSEUM OF ART AND NASHER SCULPTURE CENTER THROUGH THE DAFF BENEFIT GALA HELD IN APRIL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Bonsell Director | Trustee | 1 | $0 |
Marlene Fogarty Sughrue Director | Trustee | 1 | $0 |
Cliff Risman Chairman/dir | OfficerTrustee | 1 | $0 |
William R Carr Director | Trustee | 1 | $0 |
David Liu Director | Trustee | 1 | $0 |
Jennifer Klos Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $90,794 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $90,794 |
| Total Program Service Revenue | $140,850 |
| Investment income | $0 |
| 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 | $231,644 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $166,800 |
| 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. | $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 | $2,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $0 |
| All other expenses | $621 |
| Total functional expenses | $241,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,237 |
| 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 | $14,506 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $62,743 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $62,743 |
| Net assets with donor restrictions | $0 |
| 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 | $62,743 |
Grants Awarded
Over the last fiscal year, Dallas Art Fair Foundation has awarded $166,800 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
DALLAS MUSEUM OF ART | | | $116,800 |
NASHER SCULPTURE CENTER | | | $25,000 |
THE DALLAS CONTEMPORARY ART | | | $25,000 |