Gallery 510 Arts Guild Ltd in Decatur, Illinois (IL)
Table of contents:
| Gallery 510 Arts Guild Ltd | |
| Employer Identification Number (EIN) | 371280028 |
| Name of Organization | Gallery 510 Arts Guild Ltd |
| In Care of Name | Treasurer |
| Address | 160 E Main St 100a, Decatur, IL 62523-1283 |
| Activities | Art exhibit |
| Subsection | Charitable Organization |
| Ruling Date | 02/1992 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 05/2014 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $56,870 |
| Amount of Income | $71,456 |
| Form 990 Revenue Amount | $46,960 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Art Museums |
Non-representatives - add comments:
Amount of income in 2014: $71,456 (it was $57,473 in 2013)
| Gallery 510 Arts Guild Ltd: | $71,456 |
| Other organizations performing similar types of work: | $121,366 |
Assets in 2014: $56,870 (it was $45,409 in 2013)
| Gallery 510 Arts Guild Ltd: | $56,870 |
| Other organizations performing similar types of work: | $286,656 |
Expenses in 2014: $35,535
| Gallery 510 Arts Guild Ltd: | $35,535 |
| Other organizations performing similar types of work: | $84,708 |
Income to expenses ratio in 2014: 2.0
| This organization: | 2.0 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2014: 44.3%
| This organization: | 44.3% |
| Other organizations performing similar types of work: | 39.7% |
Revenue for 2014
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Total revenue | $55,029 | $34,034 | $46,960 |
| Contributions, gifts, grants, and similar amounts received | $27,875 | $7,265 | $20,795 |
| Program service revenue including government fees and contracts | $5,335 | $5,477 | $1,812 |
| Membership dues and assessments | $3,225 | $3,860 | $2,635 |
| Investment income | $36 | $19 | $19 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $8,727 | $7,964 | $12,238 |
| Gross income from gaming | $0 | $0 | $0 |
| Gross income from fundraising events | $13,304 | $15,042 | $22,435 |
| Less: direct expenses from gaming and fundraising events | $4,577 | $7,078 | $10,197 |
| Gross profit/loss from sales of inventory | $8,883 | $8,181 | $7,352 |
| Gross sales of inventory, less returns and allowances | $24,776 | $24,542 | $21,651 |
| Less: cost of goods sold | $15,893 | $16,361 | $14,299 |
| Other revenue | $948 | $1,268 | $2,109 |
| Total expenses | $33,923 | $32,560 | $35,535 |
| Total net assets | $43,719 | $45,193 | $56,618 |
| Excess/Deficit for the year | $21,106 | $1,474 | $11,425 |
| Net assets or fund balances at beginning of year | $22,613 | $43,719 | $45,193 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $45,193 | $56,618 | |
| Balance Sheets | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Total assets | $44,048 | $45,409 | $56,870 |
| Total liabilities | $329 | $216 | $252 |
| Net assets or fund balances | $43,719 | $45,193 | $56,618 |
| Other Information | |||
| 2012 | 2013 | 2014 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | |
| 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? | No | No | |
| 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? | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2014) | |
| 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 supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2010 - 2014) | |
| 2010 - 2014 Total | |
|---|---|
| Public support | $253,414 |
| Subtotal | $253,414 |
| Gifts, grants, contributions, and membership fees received | $109,380 |
| 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 | $144,034 |
| 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 | $253,570 |
| Public support | $253,414 |
| Subtotal | $156 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $156 |
| 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 | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Site Santa Fe | 1606 Paseo De Peralta, Santa Fe, NM 87501-3724 | NM | 1997-11 | $5,146,023 |
| 2 | Renate Hofmann Article 3 Charitable Trust 1874860 | 10 S Dearborn, Chicago, IL 60603-2300 | IL | 1997-05 | $1,876,003 |
| 3 | Lux Art Institute | 1550 S El Camino Real, Encinitas, CA 92024-4908 | CA | 1998-10 | $876,172 |
| 4 | The Clark Center For Japanese Art & Culture | 15770 10th Ave, Hanford, CA 93230-9533 | CA | 1996-06 | $812,914 |
| 5 | Torrance Cultural Arts Center Foundation | 2550 Hawthorne Boulevard, Torrance, CA 90505 | CA | 1994-09 | $308,789 |
| 6 | Masayuki And Harue Tokioka Foundation Inc | 1132 Bishop St Ste 2450, Honolulu, HI 96813-2865 | HI | 1997-04 | $246,019 |
| 7 | West Virginia Museum Of American Glass Ltd | 230 Main Ave, Weston, WV 26452-2044 | WV | 1994-05 | $231,339 |
| 8 | Rockford Public Library | 215 N Wyman St, Rockford, IL 61101-1023 | IL | 1990-11 | $224,994 |
| 9 | Woman Made | 685 N Milwaukee Ave, Chicago, IL 60642-8021 | IL | 1994-01 | $188,371 |
| 10 | Edmonds Arts Festival Foundation | PO BOX 699, Edmonds, WA 98020-0699 | WA | 1981-05 | $137,791 |
| 11 | Trumbull Art Gallery | PO BOX 888, Warren, OH 44482-0888 | OH | 1960-02 | $121,366 |
| 12 | Sammamish Symphony Orchestra Association | PO BOX 1173, Issaquah, WA 98027-0044 | WA | 1995-07 | $87,766 |
| 13 | Summit County Arts Council, Arts Alive | Po Box 738, Breckenridge, CO 80424 | CO | 1995-03 | $87,490 |
| 14 | Gallery 510 Arts Guild Ltd | 160 E Main St 100a, Decatur, IL 62523-1283 | IL | 1992-02 | $71,456 |
| 15 | West Bend Friends Of Sculpture Inc, C-O John B Torinus Jr | PO BOX 1134, West Bend, WI 53095-8634 | WI | 1990-12 | $60,596 |
| 16 | Childrens Art Preservation Association | PO BOX 45, Morrison, IL 61270-0045 | IL | 1994-07 | $59,612 |
| 17 | 3-D Chicago, Pierwalk 2004 | 923 Lathrop Ave, River Forest, IL 60305-1448 | IL | 1997-01 | $11,657 |
| 18 | Francis Chapin Art Foundation | 122 S Michigan Ave Ste 1220, Chicago, IL 60430 | IL | 1997-08 | $0 |
| 19 | Galva Arts Council Inc | Po Box 29, Galva, IL 61434 | IL | 1990-07 | $0 |
| 20 | Veterans Heritage Center Foundation | 7 Fair Oaks St, Springfield, IL 62704-3222 | IL | 1995-10 | $0 |
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