Chinese Fine Arts Society in Chicago, Illinois (IL)

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Chinese Fine Arts Society
Employer Identification Number (EIN)363794480
Name of OrganizationChinese Fine Arts Society
Address2936 N Southport Ave 210, Chicago, IL 60657-4120
ActivitiesCultural exchanges with foreign country
SubsectionEducational Organization
Ruling Date06/1993
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 Period09/2013
Assets$25,000 to $99,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$84,625
Amount of Income$132,008
Form 990 Revenue Amount$132,008
National Taxonomy of Exempt Entities (NTEE)International, Foreign Affairs and National Security: International Cultural Exchange


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Amount of income in 2013: $132,008 (it was $154,786 in 2012)
Chinese Fine Arts Society: 

 $132,008
Other organizations performing similar types of work: 

 $153,009

Assets in 2013: $84,625 (it was $118,785 in 2012)
Chinese Fine Arts Society: 

 $84,625
Other organizations performing similar types of work: 

 $117,947

Expenses in 2013: $199,418
This organization: 

 $199,418
Other organizations performing similar types of work: 

 $170,007

Income to expenses ratio in 2013: 0.7
Chinese Fine Arts Society: 

 0.7
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 72.6%
Chinese Fine Arts Society: 

 72.6%
Other organizations performing similar types of work: 

 99.9%

Financial snapshot ($)

Revenue for 2013

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201120122013
Total revenue$97,872$154,786$132,008
Contributions, gifts, grants, and similar amounts received$75,770$109,243$95,880
Program service revenue including government fees and contracts$17,745$44,187$35,874
Membership dues and assessments$532$585$0
Investment income$0$771$254
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$3,825$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$0$0
Total expenses$99,840$154,291$199,418
Total net assets$118,290$118,785$51,375
Excess/Deficit for the year$-1,968$495$-67,410
Net assets or fund balances at beginning of year$120,258$118,290$118,785
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$118,785$51,375
Balance Sheets
201120122013
Total assets$118,290$118,785$84,625
Total liabilities$0$0$33,250
Net assets or fund balances$118,290$118,785$51,375
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$361,443
Subtotal$361,443
Gifts, grants, contributions, and membership fees received$325,569
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$35,874
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$365,381
Public support$361,443
Subtotal$3,938
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$3,938
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
1Council Of Hellenes Abroad Americas Region360 N Michigan Ave Ste 710, Chicago, IL 60601-3814IL1999-03$839,796
2Student American International Incorporated4325 Dick Pond Rd Ste A, Myrtle Beach, SC 29588-6810SC1997-02$805,995
3Sounds Of Hope Ltd253 E 4th St, Saint Paul, MN 55101-1689MN1991-01$153,009
4Chinese Fine Arts Society2936 N Southport Ave 210, Chicago, IL 60657-4120IL1993-06$132,008
5Stroganov Foundation Ltd90 Broad Street Suite 2201, New York, NY 10004NY1993-03$119,133
6United States-Mexico Cultural & Educational Foundation211 Mandalay Canal, Irving, TX 75039-5512TX1996-10$87,110
7The Childrens Program Of Northern Ireland Inc971 Sibley Memorial Highway Ste 251, Lilydale, MN 55118MN1978-03$62,759
8Sharing A New Song Inc11 Sunnyside Ave, Saugus, MA 01906-2924MA1991-04$48,882
9Youthorizons37 Elm St, Skowhegan, ME 04976-1201ME1983-04$14,779
10Siberian Bridges Inc3212 18th Ave S, Minneapolis, MN 55407MN1994-04$8,302
11Celina International Association Inc, Grand Lake International Association IncPo Box 642, Celina, OH 45822OH1995-02$0
12Cultural Foundation Of The Americas, Cfa1889 F St Nw, Washington, DC 20006-4401DC1996-11$0
13East Meets West Music Arts Inc63 Rock River Ct, Naperville, IL 60565IL1995-03$0
14Interculture Foundation Of America Inc8211 W Broward Blvd Ste 200, Plantation, FL 33324-2743FL1998-07$0
15International Festival Society2451 20th Street No 6, Santa Monica, CA 90405CA1995-05$0
16International Performing Arts ExchangePO BOX 709, Monterey, CA 93942-0709CA2000-04$0
17Los Angeles Yerevan Sister Cityassociation3940 Laurel Canyon Blvd Ste 898, Studio City, CA 91604-3709CA2008-05$0
18Romanian Children Artists Inc15501 Via De Las Olas, Pacific Plsds, CA 90272-4637CA1998-11$0
19South Africa Community Fund IncPo Box 5, Colfax, WA 99111WA2000-10$0
20The Charleston Trust-Usa600 Grant St 42nd Flr, Pittsburgh, PA 15219-2702PA1990-05$0
Number of organizations performing similar types of work
California8
District of Columbia9
Florida2
Iowa1
Illinois3
Indiana1
Kansas1
Massachusetts2
Maryland1
Maine1
Michigan2
Minnesota3
North Carolina1
New Jersey1
New York11
Ohio2
Oklahoma1
Pennsylvania1
Rhode Island1
South Carolina1
Texas3
Vermont1
Washington1
International1
Total59

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