Island Art Association
- Assets
- $762.9k
- Revenue
- $275.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Fernandina Beach, FL
- Founding
- 07/1998
- Data as of
- 11/2023
- EIN
- 59-2353054
Organization Overview
Island Art Association is located in Fernandina Beach, FL. The organization was established in 1998. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, 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. Island Art Association 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 11/2023, Island Art Association generated $275.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $242.7k during the year ending 11/2023. While expenses have increased by 7.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ART EDUCATION, APPRECIATION AND DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPOSE THE POPULATION OF NASSAU COUNTY FLORIDA TO ART, ART CLASSES AND ART EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Abbott President | Officer | $0 | |
Alice Henry Co Third VP | Officer | $0 | |
Deni Karpowich Co Second VP | Officer | $0 | |
Lisbeth Krawiecki Co Second VP | Officer | $0 | |
Ray Mcwhorter Co Third VP | Officer | $0 | |
Christen Partleton Treasurer | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $14,935 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,904 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,839 |
| Total Program Service Revenue | $137,297 |
| 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 | $111,667 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,803 |
| 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. | $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 | $3,725 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $103,703 |
| Advertising and promotion | $5,301 |
| Office expenses | $2,718 |
| Information technology | $874 |
| Royalties | $38,491 |
| Occupancy | $40,690 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,061 |
| Interest | $877 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,325 |
| All other expenses | $0 |
| Total functional expenses | $242,686 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $148,416 |
| Savings and temporary cash investments | $100,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,283 |
| 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 | $509,331 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $875 |
| Total assets | $762,905 |
| 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 | $23,631 |
| Other liabilities | $0 |
| Total liabilities | $23,631 |
| Net assets without donor restrictions | $739,274 |
| 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 | $762,905 |