Low Key Arts Incorporated, The Valley Of The Vapors Independent Music Festival in Hot Springs, Arkansas (AR)

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Low Key Arts Incorporated, The Valley Of The Vapors Independent Music Festival
Employer Identification Number (EIN)204093585
Name of OrganizationLow Key Arts Incorporated
Secondary NameThe Valley Of The Vapors Independent Music Festival
In Care of NameShea Childs
Address112 Edgewood, Hot Springs, AR 71901
Websitehttp://www.valleyofthevapors.com
SubsectionEducational Organization
Ruling Date02/2008
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2010
Assets$10,000 to $24,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$20,359
Amount of Income$85,780
Form 990 Revenue Amount$72,510
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Performing Arts Organizations


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Amount of income in 2010: $85,780 (it was $72,510 in 2013)
This organization: 

 $85,780
Other organizations performing similar types of work: 

 $62,906

Assets in 2010: $20,359 (it was $20,359 in 2013)
Low Key Arts Incorporated, The Valley Of The Vapors Independent Music Festival: 

 $20,359
Other organizations performing similar types of work: 

 $17,297

Expenses in 2013: $70,395
This organization: 

 $70,395
Other organizations performing similar types of work: 

 $56,825

Income to expenses ratio in 2013: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 45.5%
This organization: 

 45.5%
Other organizations performing similar types of work: 

 90.7%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$64,083$76,403$72,510
Contributions, gifts, grants, and similar amounts received$12,853$31,109$32,979
Program service revenue including government fees and contracts$50,817$32,828$24,945
Membership dues and assessments$0$0$0
Investment income$0$0$0
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$165$0$6,326
Gross income from gaming$0$0$0
Gross income from fundraising events$1,200$0$9,182
Less: direct expenses from gaming and fundraising events$1,035$0$2,856
Gross profit/loss from sales of inventory$248$12,466$8,260
Gross sales of inventory, less returns and allowances$3,680$21,897$18,674
Less: cost of goods sold$3,432$9,431$10,414
Other revenue$0$0$0
Total expenses$68,451$73,768$70,395
Total net assets$9,078$11,713$13,828
Excess/Deficit for the year$-4,368$2,635$2,115
Net assets or fund balances at beginning of year$13,446$9,078$11,713
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$11,713$13,828
Balance Sheets
201120122013
Total assets$15,590$16,134$20,359
Total liabilities$6,512$4,421$6,531
Net assets or fund balances$9,078$11,713$13,828
Other Information
201120122013
Did the organization engage in any significant activity not previously reported to the IRS?NoNo
Were any significant changes made to the organizing or governing documents?NoNo
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNoNoNo
Has the organization filed a Form 990-T for the year?NoNo
Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year?NoNo
Amount of political expenditures, direct or indirect$0$0
Did the organization file Form 1120-POL for this year?NoNo
Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return?NoNo
Total amount involved$0$0
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities$0$0$0
Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ?NoNo
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?NoNo
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013)
2009 - 2013 Total
Public support$211,691
Subtotal$211,691
Gifts, grants, contributions, and membership fees received$82,839
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$128,852
Gross receipts from activities that are not an unrelated trade or business under section 513$0
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Less$0
Amounts received from disqualified persons$0
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$211,691
Public support$211,691
Subtotal$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Performing Arts Center On The Square219 W Arch Ave, Searcy, AR 72143-5301AR2003-10$143,737
2Low Key Arts Incorporated, The Valley Of The Vapors Independent Music Festival112 Edgewood, Hot Springs, AR 71901AR2008-02$85,780
3Royal Players Inc111 S Market St, Benton, AR 72015-4301AR1996-02$77,164
4Arkansas Historic Wine Museum Inc101 N Carbon City Rd, Paris, AR 72855AR1995-05$0
5Bearden Producion Company410 North Maple, North Little Rock, AR 72114AR2007-11$0
6Clark County Arts And Humanities Council1511 North 10th Street, Arkadelphia, AR 71923AR2011-06$0
7Creative Ideas24220 Mashburn Trail, Little Rock, AR 72210AR2009-05$0
8Faulkner Academy Of Arts IncPo Box 93, Wooster, AR 72181AR2009-09$0
9Giving Laughs Inc3019 W Marigold Dr, Fayetteville, AR 72704-6608AR2014-11$0
10Greers Ferry Lake Fine Music SeriesPO BOX 843, Heber Springs, AR 72543-0843AR2008-11$0
11Kingdom Kidz Club8 Whitwick Ln, Bella Vista, AR 72715-8836AR2009-01$0
12Knowing Our Past-The HolocaustPO BOX 17005, Little Rock, AR 72222-7005AR1999-07$0
13North Arkansas Danse TheatrePo Box 1121, Mtn View, AR 72560AR1998-09$0
14Northwest Arkansas Arts FoundationPO BOX 7191, Springdale, AR 72766-7191AR2014-09$0
15Pine Bluff Community ConcertPO BOX 8947, Pine Bluff, AR 71611-8947AR1979-07$0
16Resonantvoices Inc1214 Ne Buckingham Blvd, Bentonville, AR 72712-8579AR2004-02$0
17Sarajevo Winter Guard Inc2517 N Candlewood Dr, Fayetteville, AR 72703AR2003-12$0
18Songbird Multimedia And Performing Arts Foundation IncBox 19511, Little Rock, AR 72209AR2009-06$0
19Tri-County Community And Recreation Center135 Wall St, Lexa, AR 72355-8549AR2007-02$0
20Untapped Inc513 N Polk St, Little Rock, AR 72205AR2013-11$0
Number of organizations performing similar types of work
Alaska10
Alabama23
Arkansas22
Arizona60
California507
Colorado62
Connecticut42
District of Columbia25
Delaware10
Florida146
Georgia79
Hawaii19
Iowa22
Idaho8
Illinois142
Indiana50
Kansas31
Kentucky14
Louisiana29
Massachusetts96
Maryland71
Maine11
Michigan76
Minnesota72
Missouri65
Mississippi8
Montana21
North Carolina82
North Dakota6
Nebraska11
New Hampshire14
New Jersey93
New Mexico40
Nevada30
New York336
Ohio85
Oklahoma18
Oregon57
Pennsylvania111
Rhode Island16
South Carolina24
South Dakota3
Tennessee40
Texas179
Utah32
Virginia86
Vermont21
Washington93
Wisconsin50
West Virginia12
Wyoming6
International4
Total3,170

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