Artnow Foundation in San Francisco, California (CA)

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Artnow Foundation
Employer Identification Number (EIN)270305483
Name of OrganizationArtnow Foundation
In Care of NameVincent Worms
Address50 California St Ste 3200, San Francisco, CA 94111-4710
SubsectionCharitable Organization, Educational Organization
Ruling Date10/2011
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1,000,000 to $4,999,999
Income$500,000 to $999,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$1,113,396
Amount of Income$621,336
Form 990 Revenue Amount$62,701
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts Education


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Amount of income in 2013: $621,336 (it was $31,643 in 2012)
This organization: 

 $621,336
Other organizations performing similar types of work: 

 $63,694

Assets in 2013: $1,113,396 (it was $1,156,586 in 2012)
Artnow Foundation: 

 $1,113,396
Other organizations performing similar types of work: 

 $22,158

Expenses in 2013: $93,474
Artnow Foundation: 

 $93,474
Other organizations performing similar types of work: 

 $58,738

Income to expenses ratio in 2013: 6.6
Artnow Foundation: 

 6.6
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 100.0%
Artnow Foundation: 

 100.0%
Other organizations performing similar types of work: 

 72.3%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$621,336$10$10
Contributions, gifts, grants, etc., received$621,326
Interest on savings and temporary cash investments$10
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$93,474$0$0$34,173
Compensation of officers, directors, trustees, etc.$0
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$0
Interest$0
Depreciation$21,281
Occupancy$2,612
Travel, conferences, and meetings$0
Printing and publications$0
Total operating and administrative expenses$93,474$0$0
Contributions, gifts, grants paid$0
Excess of revenue over expenses and disbursements$527,862
Net investment income$10
Adjusted net income$10
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$1,231,462$0$1,156,586$1,435,812$1,113,396$1,113,396
Cash - non-interest-bearing$51,694$41,935$581,206
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$0$403,717
Total liabilities$14,081$11,088$15,104
Mortgages and other notes payable$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$1,217,381$1,145,498$1,098,292
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$0$0$0
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$0$0$0
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201120122013
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?YesYesYes
Did any persons become substantial contributors during the tax year?YesYes
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$0$0$0
Net value of noncharitable-use assets$0$0
Minimum investment return$0$0$0
Distributable Amount
201120122013
Distributable amount$0$0$0
Undistributed Income
201120122013
Distributable amount for this year$0$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$34,173$6,600$5,922$0$46,695
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$0$10
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1School Of Arts And Culture At Mhp1700 Alum Rock Avenue, San Jose, CA 95116CA2011-07$1,329,694
2Estria Foundation484 Lake Park Ave 667, Oakland, CA 94610-2730CA2011-03$1,010,986
3San Francisco Arts Education Project135 Van Ness Ave, San Francisco, CA 94102-5207CA1971-01$999,042
4Youth Speak Collective444 S Brand Blvd Ste 201, San Fernando, CA 91340-3610CA2006-04$912,510
5Young Audiences Of San Diego4650 Mansfield St, San Diego, CA 92116-3451CA1969-07$719,209
6Nimbus Arts888 College Ave, Saint Helena, CA 94574-1309CA2010-06$703,604
7Dizzy Feet Foundation11766 Wilshire Blvd, Los Angeles, CA 90025-6538CA2009-06$622,176
8Artnow Foundation50 California St Ste 3200, San Francisco, CA 94111-4710CA2011-10$621,336
9Recreational Music Center2590 Truxtun Rd Ste 103, San Diego, CA 92106-6145CA2010-09$501,099
10Verge Center For The Arts625 S St, Sacramento, CA 95811-7019CA2012-03$358,972
11Academy Of Music Outreach278 3rd Avenue, Chula Vista, CA 91910CA2010-08$339,390
12Vernon And Vontae Davis Family Foundation377 Santana Row Ste 1180, San Jose, CA 95128-2061CA2014-12$303,114
13San Francisco Writers Conference1029 Jones St, San Francisco, CA 94109-5023CA2004-11$281,627
14Urban Entertainment Institute6641-B Crenshaw Blvd, Los Angeles, CA 90043CA2005-08$242,006
15Youth Arts Collective Inc472 Calle Principal, Monterey, CA 93940-2706CA2000-05$241,282
16Sogetsu Ikebana Los Angeles Branch3714 Roderick Road, Los Angeles, CA 90065CA2011-09$239,670
17World Bridge Art Inc1042 North Mountain Avenue, Upland, CA 91786CA2012-12$198,250
18Writers Bloc Presents353 S Swall Dr, Beverly Hills, CA 90211-3611CA2012-11$185,581
19Creative Kids Playhouse Childrens Theatre Of Orange County23382 Madero Ste K, Mission Viejo, CA 92691-2736CA2013-11$182,508
20Caroline Victoria Coldicutt Arts Foundation42-700 Bob Hope Drive Suite 304, Rancho Mirage, CA 92270CA2007-06$181,865
Number of organizations performing similar types of work
Alaska12
Alabama24
Arkansas20
Arizona64
California460
Colorado77
Connecticut52
District of Columbia25
Delaware5
Florida155
Georgia77
Hawaii21
Iowa19
Idaho9
Illinois104
Indiana37
Kansas19
Kentucky32
Louisiana26
Massachusetts73
Maryland58
Maine22
Michigan72
Minnesota43
Missouri43
Mississippi18
Montana17
North Carolina65
North Dakota9
Nebraska7
New Hampshire17
New Jersey74
New Mexico22
Nevada21
New York267
Ohio79
Oklahoma25
Oregon65
Pennsylvania101
Rhode Island14
South Carolina19
South Dakota5
Tennessee40
Texas177
Utah21
Virginia55
Vermont15
Washington73
Wisconsin39
West Virginia7
Wyoming10
International7
Total2,818

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