Indianapolis Art Center Inc in Indianapolis, Indiana (IN)

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Indianapolis Art Center Inc
Employer Identification Number (EIN)351088735
Name of OrganizationIndianapolis Art Center Inc
Address820 E 67th St, Indianapolis, IN 46220-1139
ActivitiesFair, Industry trade shows, Other cultural or historical activities
SubsectionEducational Organization
Ruling Date11/1961
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 Period08/2013
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$18,303,499
Amount of Income$3,066,847
Form 990 Revenue Amount$2,816,266
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts Education


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Amount of income in 2013: $3,066,847 (it was $2,966,410 in 2012)
This organization: 

 $3,066,847
Other organizations performing similar types of work: 

 $337,726

Assets in 2013: $18,303,499 (it was $18,069,749 in 2012)
Indianapolis Art Center Inc: 

 $18,303,499
Other organizations performing similar types of work: 

 $377,423

Expenses in 2013: $2,816,909
Indianapolis Art Center Inc: 

 $2,816,909
Other organizations performing similar types of work: 

 $315,747

Income to expenses ratio in 2013: 1.1
Indianapolis Art Center Inc: 

 1.1
Other organizations performing similar types of work: 

 1.0

Number of employees in 2013: 54
This organization: 

 54
Other organizations performing similar types of work: 

 11

Employees paid over $100,000 in 2013: 1.9%
Indianapolis Art Center Inc: 

 1.9%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 40.5%
This organization: 

 40.5%
Other organizations performing similar types of work: 

 22.2%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Support schedule

Checklist
20122013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?NoNo
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?YesYes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?YesYes
Did the organization report an amount for other liabilities?YesYes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?NoNo
Did the organization report more than $15,000 total of fundraising event gross income and contributions?YesYes
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?NoNo
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?NoNo
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesNo
Did the organization receive more than $25,000 in non-cash contributions?NoNo
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?YesYes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
201120122013
The number reported in Box 3 of Form 109610384
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return5254
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYesYes
Has it filed a Form 990-T for this year?YesYes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?YesYes
Did the organization notify the donor of the value of the goods or services provided?YesYes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0
Gross receipts for public use of club facilities $0$0$0
Gross income from members or shareholders$0$0$0
Gross income from other sources$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
20122013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$148,562$147,952
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$8,131$12,654
Total number of individuals who received more than $100,000 of reportable compensation from the organization11
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
201120122013
Total revenue$2,426,323$2,481,696$2,816,266
Contributions, Gifts, Grants and Other Similar Amounts$974,513$989,077$1,140,281
Program Service Revenue$1,269,214$1,255,133$1,238,573
611600$823,946$868,147
611600$346,247$299,180
611600$46,885$41,725
611600$34,425$17,922
611600$3,630$11,599
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$76,350$106,810$142,168
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$-15,273$73,373$60,716
Gross rents (Real / Personal)$144,757 / $0$180,940 / $0$169,631 / $0
Less: rental expenses (Real / Personal)$160,030 / $0$107,567 / $0$108,915 / $0
Rental income or (loss) (Real / Personal)$-15,273 / $0$73,373 / $0$60,716 / $0
Net gain/loss from sales of assets other than inventory$-19,076$-34,323$204,973
Gross amount from sales of assets other than inventory (Securities / Other)$264,010 / $0$324,483 / $0$324,253 / $1,700
Less: cost or other basis and sales expenses (Securities / Other)$151,918 / $131,168$296,557 / $62,249$117,730 / $3,250
Gain or (loss) (Securities / Other)$112,092 / $-131,168$27,926 / $-62,249$206,523 / $-1,550
Net income/loss from fundraising events$51,641$56,618$26,944
Gross income from fundraising events$66,212$72,395$45,075
Less: direct expenses$14,571$15,777$18,131
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$18,774$12,308$-2,489
Gross sales of inventory, less returns and allowances$22,829$14,872$66
Less: cost of goods sold$4,055$2,564$2,555
Miscellaneous Revenue$70,180$22,700$5,100
900099$15,970$5,100
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$2,779,299$2,841,587$2,816,909
Grants and other assistance to domestic organizations and domestic governments$0$0
Grants and other assistance to domestic individuals$0$0
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$150,790$178,567$181,437
Compensation not included above, to disqualified persons$31,220$25,000
Other salaries and wages$955,775$902,385$877,490
Pension plan accruals and contributions$13,776$11,136
Other employee benefits$82,791$86,134
Payroll taxes$80,920$90,965$75,491
Fees for services (non-employees)
Management$0$0
Legal$5,828$0
Accounting$21,108$22,442
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$23,234$60,058
Other$359,920$416,233
Advertising and promotion$209,564$196,940
Office expenses$137,849$165,583
Information technology$37,605$27,562
Royalties$0$0
Occupancy$215,957$171,622
Travel$5,330$10,839
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$31,269$24,754
Interest$6,936$6,347
Payments to affiliates$0$0
Depreciation, depletion, and amortization$325,018$329,388
Insurance$53,529$56,314
Other expenses$75,066$70,896
Other expenses$5,774$1,243
Balance Sheet
201120122013
Total assets$18,142,959$18,069,749$18,303,499
Cash - non-interest-bearing$296,472$274,912
Savings and temporary cash investments$980,268$655,096
Pledges and grants receivable, net$1,759,408$1,571,444
Accounts receivable, net$39,271$55,660
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$2,537$0
Prepaid expenses and deferred charges$48,919$71,492
Land, buildings, and equipment: cost or other basis$8,307,832$8,008,911
Investments - publicly traded securities$3,008,449$3,806,651
Investments - other securities$2,485,266$2,685,186
Investments - program-related$0$0
Intangible assets$0$0
Other assets$1,141,327$1,174,147
Total liabilities$671,073$1,869,066$1,898,986
Accounts payable and accrued expenses$138,066$168,419
Grants payable$1,200,000$1,200,000
Deferred revenue$214,211$232,817
Tax-exempt bond liabilities$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$253,223$253,223$254,367
Unsecured notes and loans payable to unrelated third parties$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$63,566$43,383
Total net assets or fund balances$17,471,886$16,200,683$16,404,513
Unrestricted net assets$10,533,235$10,497,116
Temporarily restricted net assets$2,133,905$2,309,706
Permanently restricted net assets$3,533,543$3,597,691
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0
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$10,288,598
Subtotal$12,377,566
Gifts, grants, contributions, and membership fees received$5,725,702
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$6,651,864
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$2,088,968
Amounts received from disqualified persons$2,088,968
Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support$0
Total support$13,987,684
Public support$12,377,566
Subtotal$1,274,745
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,271,097
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$3,648
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income$335,373
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$21,640$28,834$7,194
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$144,001$25,933$11,533
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$7,240$2,901$4,339
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$700
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$700
Unrelated business taxable income$7,894
Unrelated business taxable income before net operating loss deduction$7,894
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$7,894
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Arts Connection Inc520 8th Ave Rm 321, New York, NY 10018-8906NY1980-06$3,717,844
2Indianapolis Art Center Inc820 E 67th St, Indianapolis, IN 46220-1139IN1961-11$3,066,847
3Wayne Art Center413 Maplewood Ave, Wayne, PA 19087-4702PA1955-10$1,718,088
4South Shore Arts Inc1040 Ridge Road, Munster, IN 46321-1876IN1970-10$1,585,190
5Scottsdale Artists School Inc3720 N Marshall Way, Scottsdale, AZ 85251-5559AZ1983-11$1,411,908
6Yocum Institute For Arts Education Inc1100 Belmont Ave, Wyomissing, PA 19610-2004PA1941-09$956,896
7The Art Center Highland Park1957 Sheridan Rd, Highland Park, IL 60035-2540IL1964-10$951,645
8Truro Center For The Arts At Castle Hill IncPO BOX 756, Truro, MA 02666-0756MA1973-05$701,112
9South Shore Art Center Inc119 Ripley Rd, Cohasset, MA 02025-1744MA1961-06$635,360
10Woodstock School Of Art IncPO BOX 338, Woodstock, NY 12498-0338NY$570,624
11Marion Community School Of The Arts Inc305 S Adams St, Marion, IN 46952-4012IN1996-03$472,036
12Pump House Regional Arts Center119 King St, La Crosse, WI 54601-4030WI1975-12$411,742
13Space One Eleven Inc2409 2nd Ave N, Birmingham, AL 35203-3809AL1989-11$313,666
14Washington Art Association Inc4 Bryan Memorial Plaza, Washington Depot, CT 06794CT1972-02$293,105
15Visual Arts Center Of Northwest Florida Inc19 East 4th Street, Panama City, FL 32401FL1977-03$287,822
16Vermont Music & Arts Assoc Inc188 Benjamin Hill Rd, Newfield, NY 14867-9795NY1988-08$151,177
17South County Center For The ArtsPO BOX 186, West Kingston, RI 02892-0186RI1992-11$121,078
18Stage Eleven-Childrens Center For The Theatre Arts Inc7999 S Monaco Ct, Englewood, CO 80112-3130CO1989-10$113,153
19Umbrella Latch Key Program15864 Rimrock Rd, Apple Valley, CA 92307-2741CA1996-09$101,539
20Full Circle Arts Co-Operative2423 W Jackson St, Muncie, IN 47303IN1996-04$0
Number of organizations performing similar types of work
Alabama2
Arkansas1
Arizona3
California7
Colorado1
Connecticut3
District of Columbia3
Delaware1
Florida8
Georgia1
Hawaii1
Iowa1
Idaho1
Illinois5
Indiana4
Kentucky1
Massachusetts11
Maryland2
Maine1
Michigan2
Minnesota4
Missouri1
Montana1
North Carolina1
New Jersey4
Nevada2
New York13
Ohio4
Oklahoma2
Oregon2
Pennsylvania5
Rhode Island2
South Dakota2
Texas5
Utah1
Virginia4
Vermont2
Washington3
Wisconsin2
West Virginia1
Wyoming1
International1
Total122

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