Friends Of Art Inc in Coral Gables, Florida (FL)

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Friends Of Art Inc
Employer Identification Number (EIN)596192862
Name of OrganizationFriends Of Art Inc
In Care of NameUniversity Of Miami
AddressC/O Lowe Art Museum 1301 Stanford, Coral Gables, FL 33146
ActivitiesOther school related activities, Museum, zoo, planetarium, etc., Other cultural or historical activities
SubsectionEducational Organization, Literary Organization
Ruling Date09/1967
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
Tax Period06/2013
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$52,552
Amount of Income$89,484
Form 990 Revenue Amount$71,985

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Financial snapshot ($)

Revenue for 2012

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances (for 2012)
Total revenue$97,633
Contributions, gifts, grants, and similar amounts received$64,447
Program service revenue including government fees and contracts$0
Membership dues and assessments$49,100
Investment income$279
Gain from sale of assets other than inventory$0
Net loss from gaming and fundraising events$-16,193
Gross income from gaming$0
Gross income from fundraising events$25,885
Less: direct expenses from gaming and fundraising events$42,078
Gross profit from sales of inventory$0
Other revenue$0
Total expenses$100,306
Total net assets$85,042
Deficit for the year$-2,673
Net assets or fund balances at beginning of year$87,715
Other changes in net assets or fund balances$0
Balance Sheets (for 2012)
Total assets$85,042
Total liabilities$0
Net assets or fund balances$85,042
Other Information (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Reason for Public Charity Status (for 2012)
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
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$757,875
Gifts, grants, contributions, and membership fees received$252,655
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$500,329
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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$4,891
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