Studio Percussion Inc in Gainesville, Florida (FL)

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Studio Percussion Inc
Employer Identification Number (EIN)201869117
Name of OrganizationStudio Percussion Inc
In Care of NameTobin Wagstaff
Address2512 Ne 1st Blvd Ste 500, Gainesville, FL 32609-6030
SubsectionCharitable Organization
Ruling Date09/2006
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 Period12/2013
Assets$10,000 to $24,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$16,837
Amount of Income$85,350
Form 990 Revenue Amount$77,334
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts Education


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Amount of income in 2013: $85,350 (it was $98,023 in 2012)
Studio Percussion Inc: 

 $85,350
Other organizations performing similar types of work: 

 $63,694

Assets in 2013: $16,837 (it was $14,067 in 2012)
Studio Percussion Inc: 

 $16,837
Other organizations performing similar types of work: 

 $22,158

Expenses in 2013: $74,563
This organization: 

 $74,563
Other organizations performing similar types of work: 

 $58,738

Income to expenses ratio in 2013: 1.1
This organization: 

 1.1
Other organizations performing similar types of work: 

 1.1

Grants share in income in 2013: 0.0%
Studio Percussion Inc: 

 0.0%
Other organizations performing similar types of work: 

 72.3%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$95,807$78,114$77,334
Contributions, gifts, grants, and similar amounts received$12,585$6,000$0
Program service revenue including government fees and contracts$85,486$67,071$75,353
Membership dues and assessments$0$0$0
Investment income$0$0$0
Gain/Loss from sale of assets other than inventory$-21,924$0$0
Net income/loss from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$19,660$5,043$1,981
Gross sales of inventory, less returns and allowances$26,875$24,952$9,997
Less: cost of goods sold$7,215$19,909$8,016
Other revenue$0$0$0
Total expenses$118,639$79,094$74,563
Total net assets$4,227$3,247$6,017
Excess/Deficit for the year$-22,832$-980$2,771
Net assets or fund balances at beginning of year$27,059$4,227$3,246
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$3,247$6,017
Balance Sheets
201120122013
Total assets$15,047$14,067$16,837
Total liabilities$10,820$10,820$10,820
Net assets or fund balances$4,227$3,247$6,017
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?NoYes
Total amount involved$0$10,820
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$661,016
Subtotal$661,016
Gifts, grants, contributions, and membership fees received$28,585
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$632,431
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$16,000
Amounts received from disqualified persons$16,000
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$661,016
Public support$661,016
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
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2Realize Bradenton IncPo Box 9114, Bradenton, FL 34206FL2010-03$734,938
3Sunflower Creative Arts Inc2601 Saint Andrews Blvd, Boca Raton, FL 33434-3607FL2003-08$296,660
4V O I C Experience Foundation1519 Canopy Oaks Blvd, Palm Harbor, FL 34683-6162FL2001-02$236,810
5Morada Way Arts & Cultural District Inc151 Morada Way, Islamorada, FL 33036-3798FL2011-10$199,104
6The Association Of Israels Decorative Arts2201 Nw 30th Pl, Pompano Beach, FL 33069-1026FL2004-12$177,663
7Answered Prayers Cross IncPo Box 76326, St Petersburg, FL 33704FL2009-02$138,912
8Seaside Community Foundation For Culture And Education Inc121 Central Sq Ste G, Santa Rosa Beach, FL 32459FL2003-08$129,710
9Instruments Of Change Inc1306 Eastwood Drive, Brandon, FL 33510FL2009-05$105,605
10Artreach Orlando IncPO BOX 1329, Winter Park, FL 32790-1329FL2013-02$90,082
11Art House Of Delray Inc255 Ne 6th Ave, Delray Beach, FL 33483-5514FL2014-02$86,267
12Southern Atelier Inc7226 21st St E, Sarasota, FL 34243-3903FL2008-02$86,169
13Studio Percussion Inc2512 Ne 1st Blvd Ste 500, Gainesville, FL 32609-6030FL2006-09$85,350
14Grace Arts Center Inc816 Se 8th St, Ft Lauderdale, FL 33316-1206FL2013-02$78,169
15Women In The Visual Arts IncPO BOX 880668, Boca Raton, FL 33488-0668FL2000-12$72,154
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17Art League Of Jacksonville Inc11287 Scott Mill Rd, Jacksonville, FL 32223-7100FL2009-07$34,435
18Harmonies Of Hope Inc11110 W Oakland Park Blvd Ste 332, Sunrise, FL 33351-6808FL2015-04$30,800
19Sara Mana Antique Dealers Association Inc4760 Calumet Ave, Sarasota, FL 34234-4147FL2002-01$30,390
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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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