American Foundation For The Arts Incorporated
- Assets
- $154.6k
- Revenue
- $115.0k
- Investments
- $119.6k
- Employees
- 0
- Location
- Miami, FL
- Founding
- 12/1976
- Data as of
- 12/2021
- EIN
- 51-0166808
Organization Overview
American Foundation For The Arts Incorporated is located in Miami, FL. The organization was established in 1976. 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. American Foundation For The Arts Incorporated 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, American Foundation For The Arts Incorporated generated $115.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 27.2% each year . All expenses for the organization totaled $114.4k during the year ending 12/2021. While expenses have increased by 28.0% per year over the past 4 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.
Since 2020, American Foundation For The Arts Incorporated has awarded 54 individual grants totaling $141,232. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
REVIEW AND CONSIDERATION OF PLANNED CONTRIBUTIONS FROM ART COLLECTION TO SUPPORT OTHER CHARITABLE INSTITUTIONS AND OTHER ACTIVITIES IN SUPPORT OF CHARITABLE PURPOSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Levine P D Mgr T | 1.92 | $0 | |
Alfredo Gonzalez VP D | 0.02 | $0 | |
Veronica Zarco S D | 0.01 | $0 | |
Troy Abbott T D | 0.01 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $157,386 |
| Interest on Savings | $0 |
| Dividends & Interest | $9 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$42,382 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $115,013 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $205 |
| Taxes | $61 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $4,677 |
| Total operating and administrative expenses | $14,101 |
| Contributions, gifts, grants paid | $100,270 |
| Total expenses and disbursements | $114,371 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,924 |
| Savings and temporary cash investments | $4,278 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $279 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $72,150 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $510 |
| Total assets | $154,608 |
| Accounts payable and accrued expenses | $10,818 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,818 |
Grants Awarded
Over the last fiscal year, American Foundation For The Arts Incorporated has awarded $100,270 in support to 34 organizations.
| Grant Recipient | Amount |
|---|---|
ALFREDO GONZALEZ PURPOSE: SUPPORT ARTS AND ARTIST. FOUNDATION DIRECTOR | $26,200 |
Miami, FL PURPOSE: SUPPORT ARTS BY CONTRIBUTION OF FUNDS. | $20,000 |
THE WOLFSONIAN MUSEUM - FIU PURPOSE: SUPPORT OF ARTS ARTIST AND ORGANIZATION PC BY CONTRIBUTION OF FUNDS | $20,000 |
SOUTH FLORIDA PBS PURPOSE: SUPPORT ARTS AND ARTISTS AND ORGANIZATION PC BY CONTRIBUTION OF FUNDS. | $10,000 |
PAOLO BARONE PURPOSE: SUPPORT ARTS AND ARTIST BY CONTRIBUTION OF FUNDS. | $6,500 |
NICHOLAS PANETZA PURPOSE: SUPPORT ARTS AND ARTIST BY CONTRIBUTION OF FUNDS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Arts Of Central Florida Inc Orlando, FL | $7,262,760 | $11,256,012 |
Gwinnett Championship Foundation Inc Duluth, GA | $476,337 | $4,123,025 |
Digital Convergence Alliance Inc Tampa, FL | $2,233,099 | $3,394,790 |
Cobb Community Foundation Inc Atlanta, GA | $18,425,025 | $3,579,591 |
Creative City Collaborative Of Delray Beach Inc Delray Beach, FL | $1,041,652 | $1,722,998 |
School Of The Arts Foundation Inc West Palm Beach, FL | $10,434,549 | $1,851,470 |
Art Culture And Entertainment Inc Pensacola, FL | $146,996 | $1,084,283 |
I Love Music Tour Inc Jacksonville, FL | -$30,381 | $604,942 |
Nasyonbonsamariten Hollywood, FL | $12,299 | $594,257 |
Grsp Foundation Savannah, GA | $15,605,177 | $1,060,324 |
Thomas Dubois Hormel Foundation Inc Fort Lauderdale, FL | $7,512,533 | $223,029 |
Friends With Benefits Fund Augusta, GA | $3,687 | $377,157 |