Gulf Coast Museum Of Art Inc in Seminole, Florida (FL)

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Gulf Coast Museum Of Art Inc
Employer Identification Number (EIN)590624400
Name of OrganizationGulf Coast Museum Of Art Inc
In Care of NameDavid Barshel
Address9355 113th St, Seminole, FL 33772-2829
ActivitiesOther cultural or historical activities
SubsectionEducational Organization
Ruling Date02/1951
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
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2008
Assets$5,000,000 to $9,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$5,749,495
Amount of Income$1,660,625
Form 990 Revenue Amount$522,759
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Art Museums


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Amount of income in 2008: $1,660,625
Gulf Coast Museum Of Art Inc: 

 $1,660,625
Other organizations performing similar types of work: 

 $1,258,505

Assets in 2008: $5,749,495
This organization: 

 $5,749,495
Other organizations performing similar types of work: 

 $4,746,079

Expenses in 2001: $1,273,595
This organization: 

 $1,273,595
Other organizations performing similar types of work: 

 $906,066

Income to expenses ratio in 2001: 0.7
This organization: 

 0.7
Other organizations performing similar types of work: 

 1.3

Expenses allocated to program services in 2001: 59.9%
Gulf Coast Museum Of Art Inc: 

 59.9%
Other organizations performing similar types of work: 

 75.4%

Number of employees in 2001: 22
Gulf Coast Museum Of Art Inc: 

 22
Other organizations performing similar types of work: 

 29

Employees paid over $50,000 in 2001: 0.0%
This organization: 

 0.0%
Other organizations performing similar types of work: 

 12.5%

Grants share in income in 2001: 55.7%
Gulf Coast Museum Of Art Inc: 

 55.7%
Other organizations performing similar types of work: 

 64.8%

Financial snapshot ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Functional Expenses for 2001 ($)

Income-Producing Activities for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$1,141,225$839,539
Contributions, gifts, grants, and similar amounts received$706,958$467,280
Contributions to donor advised funds
Direct public support$137,120$373,321
Indirect public support$0$0
Government contributions (grants)$569,838$93,959
Program service revenue including government fees and contracts$61,198$85,408
Membership dues and assessments$76,411$0
Interest on savings and temporary cash investments$235,659$0
Dividends and interest from securities$0$228,286
Net rental income or (loss)$8,755$6,250
Gross rents$8,755$6,250
Less: rental expenses$0$0
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$0$0
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$0$0
Net income or (loss) from special events and activities$26,932$29,359
Gross revenue$61,183$53,123
Less: direct expenses other than fundraising expenses$34,251$23,764
Gross profit or (loss) from sales of inventory$18,984$19,638
Gross sales of inventory, less returns and allowances$41,451$45,674
Less: cost of goods sold$22,467$26,036
Other revenue$6,328$3,318
Total expenses$1,052,369$1,273,595
Program services$657,416$762,469
Management and general$238,631$236,569
Fundraising$156,322$274,557
Payments to affiliates$0$0
Net assets or fund balances at end of year$10,358,049$9,391,279
Excess or (deficit) for the year$88,856$-434,056
Net assets or fund balances at beginning of year$10,345,717$10,358,049
Other changes in net assets or fund balances$-76,524$-532,714
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$1,273,595$762,469$236,569$274,557
Grants paid from donor advised funds
Other grants and allocations$0
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$126,000$69,300$30,618$26,082
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$320,769$176,423$77,947$66,399
Pension plan contributions not included above$21,350$11,743$5,188$4,419
Employee benefits not included above$4,987$0$4,987$0
Payroll taxes$39,180$21,549$9,521$8,110
Professional fundraising fees$0$0$0$0
Accounting fees$12,328$6,497$4,748$1,083
Legal fees$13,265$0$13,265$0
Supplies$13,411$8,062$2,698$2,651
Telephone$1,473$810$295$368
Postage and shipping$13,584$7,471$2,717$3,396
Occupancy$35,016$30,229$4,235$552
Equipment rental and maintenance$1,789$984$626$179
Printing and publications$1,850$1,017$370$463
Travel$0$0$0$0
Conferences, conventions, and meetings$1,447$810$435$202
Interest$79,757$70,186$3,988$5,583
Depreciation, depletion, etc.$162,116$142,662$8,106$11,348
Other expenses not covered above$425,273$214,726$66,825$143,722
Balance Sheets
20002001
Total assets$11,495,134$10,678,621
Cash - non-interest-bearing$90,416$75,022
Savings and temporary cash investments$0$0
Accounts receivable less allowance for doubtful accounts$0$0
Pledges receivable less allowance for doubtful accounts$174,770$142,763
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$50,889$42,352
Inventories for sale or use$0$13,758
Prepaid expenses and deferred charges$0$7,501
Investments - publicly-traded securities
Investments - other securities$5,614,275$4,855,452
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$0$10,799
Land, buildings, and equipment less accumulated depreciation$5,519,472$5,525,724
Other assets, including program-related investments$45,312$5,250
Total liabilities$1,137,085$1,287,342
Accounts payable and accrued expenses$82,975$67,588
Grants payable$0$0
Deferred revenue$16,592$18,848
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$1,037,518$1,200,906
Other liabilities$0$0
Total liabilities and net assets/fund balances$11,495,134$10,678,621
Total net assets or fund balances$10,358,049$9,391,279
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$1,141,225$839,539
Total revenue, gains, and other support per audited financial statements$891,913$1,111,595
Other expenses$353,193$413,155
Net unrealized gains on investments$275,224$261,664
Donated services and use of facilities$43,718$127,727
Recoveries of prior year grants$0$0
Other$34,251$23,764
Other revenue$602,505$141,099
Investment expenses$0$0
Other$602,505$141,099
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$1,052,369$1,273,595
Total expenses and losses per audited financial statements$1,087,656$1,377,729
Other revenue$77,969$151,491
Donated services and use of facilities$43,718$127,727
Prior year adjustments$0$0
Losses$0$0
Other$34,251$23,764
Other expenses$42,682$47,357
Investment expenses$0$0
Other$42,682$47,357
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 200622
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$4,557$237,854$129,848
Program service revenue
Program service revenue 1000000$000$0$72,558
Program service revenue 2000000$000$0$12,850
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$228,286$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$0Real property rental income that does not depend on the income or profits derived by the person leasing the property and is excluded by section 512(b)(3)$6,250$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$0
Net income or (loss) from special events000000$000$0$29,359
Gross profit or (loss) from sales of inventoryGift, novelty, and souvenir stores$4,55700$0$15,081
Other revenue000000$0Section 501(c)(3) organization - Income from an activity carried on primarily for the convenience of the organization's members, students, patients, visitors, officers, or employees (hospital parking lot or museum cafeteria, for example) (section 513(a)(2))$3,318$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
The total number of donor advised funds owned at the end of the tax year
The aggregate value of assets held in all donor advised funds owned at the end of the tax year
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
The aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
19992000
Total$1,274,740$1,194,129
Gifts, grants, and contributions received$850,722$706,958
Membership fees received$89,463$76,411
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$78,490$159,054
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$237,834$244,414
Net income from unrelated business activities not included above$10,036$964
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$8,195$6,328
Lobbying Expenditures by Electing Public Charities (for 2001)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Norton Museum Of Art Inc1451 S Olive Ave, West Palm Bch, FL 33401-7162FL1961-08$7,376,849
2Orlando Museum Of Art Inc2416 N Mills Ave, Orlando, FL 32803-1426FL1953-01$5,635,980
3Boca Raton Museum Of Art Inc501 Plaza Real, Boca Raton, FL 33432-3982FL1955-12$4,852,937
4Deette Holden Cummer Museum Foundation Inc829 Riverside Ave, Jacksonville, FL 32204-3336FL1982-11$4,491,061
5Gulf Coast Museum Of Art Inc9355 113th St, Seminole, FL 33772-2829FL1951-02$1,660,625
6Jorge M Perez Art Museum Of Miami Dade County Inc, Perez Art Museum Miami1103 Biscayne Blvd, Miami, FL 33132-1758FL1981-02$60,691,266
7The Columbus Museum Inc1251 Wynnton Rd, Columbus, GA 31906-2810GA1954-11$14,747,840
8Salvador Dali Museum Inc1 Dali Blvd, St Petersburg, FL 33701-3920FL1981-05$11,121,580
9Museum Of Art Inc1 E Las Olas Blvd, Ft Lauderdale, FL 33301-1807FL1959-09$7,037,451
10Museum Of Fine Arts Of St Petersburg Fla Inc255 Beach Dr Ne, St Petersburg, FL 33701-3413FL1964-07$4,076,972
11Tampa Museum Of Art Inc120 W Gasparilla Plz, Tampa, FL 33602-1500FL1979-11$3,977,936
12Tucson Museum Of Art140 N Main Ave, Tucson, AZ 85701-8218AZ1956-02$3,890,252
13The Mobile Museum Of Art Inc4850 Museum Dr, Mobile, AL 36608-1917AL1996-02$3,749,971
14The American Visionary Art Museum Inc800 Key Hwy, Baltimore, MD 21230-3940MD1994-05$3,006,291
15Museum Of Contemporary Art Inc770 Ne 125th St, North Miami, FL 33161-5654FL1982-05$2,917,419
16Museum Of Contemporary Art Jacksonville Inc333 N Laura St, Jacksonville, FL 32202-3505FL1949-08$2,699,382
17Wolfsonian IncModesto A Maidique Campus, Miami, FL 33199-0001FL1993-11$6,000
18Jacksonville Art Museum Inc, Dba Koger Gallery & Gardens910 3rd St Ste A, Neptune Beach, FL 32266-5074FL2000-08$0
19Las Americas Museum Of Art IncPo Box 810, St Augustine, FL 32085FL1997-12$0
20Museum Of Floridas Art & Culture13238 River Rd, Sebring, FL 33876FL1994-11$0
Number of organizations performing similar types of work
Alaska1
Alabama8
Arizona5
California42
Colorado5
Connecticut7
District of Columbia6
Delaware2
Florida21
Georgia8
Hawaii2
Iowa3
Idaho1
Illinois7
Indiana11
Kansas2
Kentucky3
Louisiana6
Massachusetts17
Maryland7
Maine6
Michigan7
Minnesota8
Missouri4
Mississippi4
Montana7
North Carolina16
North Dakota2
Nebraska2
New Hampshire1
New Jersey3
New Mexico2
Nevada3
New York32
Ohio17
Oklahoma5
Oregon4
Pennsylvania12
Rhode Island5
South Carolina4
Tennessee6
Texas23
Utah1
Virginia9
Vermont3
Washington8
Wisconsin6
West Virginia1
Wyoming1
International2
Total368

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