Faena Arts
- Assets
- $923.8k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Miami Beach, FL
- Founding
- 05/2015
- Data as of
- 12/2021
- EIN
- 47-1636322
Organization Overview
Faena Arts is located in Miami Beach, FL. The organization was established in 2015. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Faena Arts 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 12/2021, Faena Arts generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $572.9k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (7.2%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGING, COMMISSIONING AND PRODUCING AMBITIOUS PUBLIC ARTS PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROGRAM SERVICES CONSISTS OF PRODUCTION OF POST-DISCIPLINARY AND TIME-BASED EXPERIENCES. FAENA ART PRODUCES AMBITIOUS PUBLIC ARTS PROJECTS, REACHING NEW AUDIENCES AND EXPANDING AWARENESS THROUGH CONTEMPORARY ART ON THE LOCAL LEVEL OF MIAMI BEACH, THE STATE OF FLORIDA, NATIONWIDE AND ABROAD.THE ORGANIZATION FOSTERS NEW MODELS FOR PERFOMATIVE SOCIAL INTERACTION THAT TRANSCEND THE TRADITIONAL BOUNDARIES OF ART, SCIENCE, PHILOSOPHY, AND SOCIAL PRACTICE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Soto Controller | Officer | 40 | $42,987 |
German DE Elizalde President | OfficerTrustee | 40 | $0 |
Gita Shamdasani Vice Chair | OfficerTrustee | 2 | $0 |
Neisen O Kasdin Secretary | OfficerTrustee | 2 | $0 |
Nicole Comotti Executive Director | Officer | 40 | $0 |
Sarah Arison Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $174,540 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,190,123 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,364,663 |
| Total Program Service Revenue | $0 |
| 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 | $1,364,663 |
| 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. | $47,337 |
| Compensation of current officers, directors, key employees. | $47,337 |
| 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 | $9,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $9,975 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $363,391 |
| Advertising and promotion | $0 |
| Office expenses | $47,714 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $41,738 |
| 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 | $9,923 |
| All other expenses | $25 |
| Total functional expenses | $572,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $878,793 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,000 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $30,000 |
| Other assets | $0 |
| Total assets | $923,793 |
| Accounts payable and accrued expenses | $246,706 |
| 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 | $246,706 |
| Net assets without donor restrictions | $677,087 |
| 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 | $923,793 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Faena Arts has recieved totaling $47,300.
| Awarding Organization | Amount |
|---|---|
Goldman Sachs Charitable Gift Fund New York, NY PURPOSE: COMMUNITY OUTREACH & ENRICHMENT PROGRAMS | $25,000 |
Jacob And Anita Penzer Foundation Inc Lawrence, NY PURPOSE: GENERAL | $7,500 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: COMMUNITY & HUMAN SERVICES | $6,000 |
Tweddle Foundation Detroit, MI PURPOSE: TO SUPPORT THE COMMUNITY | $5,000 |
Dean Foundation Inc Tarrytown, NY PURPOSE: DONATION | $2,600 |
The Lampert Foundation Bay Harbor Islands, FL PURPOSE: GENERAL UNRESTRICTED | $1,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Society Of The Four Arts Palm Beach, FL | $121,173,909 | $24,597,391 |
Irma And Norman Braman Art Foundation Miami, FL | $27,200,000 | -$200,000 |
Korean Martial Arts Culture & Education Foundation Inc Hollywood, FL | $530,186 | $4,469,417 |
Cafe 1040 Inc Alpharetta, GA | $1,445,364 | $4,184,740 |
Safe States Alliance Atlanta, GA | $855,123 | $2,462,301 |
Miami Broward One Carnival Host Committee Inc Miami, FL | $499,382 | $2,415,530 |
Artsnow Inc Atlanta, GA | $4,742,407 | $2,526,341 |
Dunedin Fine Arts Cultural Center Inc Dunedin, FL | $9,442,187 | $2,311,828 |
Ocean Reef Cultural Center Inc Key Largo, FL | $38,541,149 | $2,233,554 |
Pensacola Retirement Village Inc Orlando, FL | $4,149,191 | $1,797,373 |
Iris & B Gerald Cantor Foundation Palm Beach, FL | $24,280,811 | $1,163,888 |
Spruill Center For The Arts Inc Atlanta, GA | $6,437,897 | $2,168,968 |