Founders Society, Flint Institute Of Arts in Flint, Michigan (MI)
| Founders Society, Flint Institute Of Arts |
| Employer Identification Number (EIN) | 237456508 |
| Name of Organization | Founders Society |
| Secondary Name | Flint Institute Of Arts |
| Address | 1120 E Kearsley St, Flint, MI 48503-1915 |
| Activities | Art exhibit, Gifts, grants, or loans to other organizations |
| Subsection | Educational Organization |
| Ruling Date | 08/1976 |
| Deductibility | Contributions are deductible |
| Foundation | Organizations operated solely for the benefit of and in conjunction with organizations described in 10 through 16 above |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 06/2014 |
| Assets | $25,000 to $99,999 |
| Income | $25,000 to $99,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $93,242 |
| Amount of Income | $86,940 |
| Form 990 Revenue Amount | $77,477 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Arts Education |
Amount of income in 2014: $86,940 (it was $90,941 in 2013)
| This organization: | $86,940 |
| Other organizations performing similar types of work: | $226,268 |
Assets in 2014: $93,242 (it was $73,069 in 2013)
| This organization: | $93,242 |
| Other organizations performing similar types of work: | $311,917 |
Expenses in 2014: $57,485
| Founders Society, Flint Institute Of Arts: | $57,485 |
| Other organizations performing similar types of work: | $139,626 |
Income to expenses ratio in 2014: 1.5
| This organization: | 1.5 |
| Other organizations performing similar types of work: | 1.5 |
Grants share in income in 2014: 0.0%
| This organization: | 0.0% |
| Other organizations performing similar types of work: | 83.1% |
| Revenue, Expenses, and Changes in Net Assets or Fund Balances |
| 2012 | 2013 | 2014 |
|---|
| Total revenue | $77,796 | $80,111 | $77,477 |
| Contributions, gifts, grants, and similar amounts received | $0 | $0 | $0 |
| Program service revenue including government fees and contracts | $41,702 | $37,062 | $30,726 |
| Membership dues and assessments | $0 | $2,830 | $3,070 |
| Investment income | $21 | $56 | $103 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $36,073 | $39,457 | $42,186 |
| Gross income from gaming | $0 | $0 | $0 |
| Gross income from fundraising events | $39,024 | $50,287 | $51,649 |
| Less: direct expenses from gaming and fundraising events | $2,951 | $10,830 | $9,463 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 |
| Other revenue | $0 | $706 | $1,392 |
| Total expenses | $60,961 | $69,531 | $57,485 |
| Total net assets | $60,710 | $71,290 | $91,282 |
| Excess/Deficit for the year | $16,835 | $10,580 | $19,992 |
| Net assets or fund balances at beginning of year | $43,875 | $60,710 | $71,290 |
| Other changes in net assets or fund balances | $0 | $0 | $0 |
| Net assets or fund balances at end of year | | $71,290 | $91,282 |
| Balance Sheets |
| 2012 | 2013 | 2014 |
|---|
| Total assets | $63,007 | $73,069 | $93,242 |
| Total liabilities | $2,297 | $1,779 | $1,960 |
| Net assets or fund balances | $60,710 | $71,290 | $91,282 |
| Reason for Public Charity Status (for 2014) |
| The organization is not a private foundation because it is: | An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2) |
| Number of organizations supported | 1 |
| Sum of amounts of support | $27,000 |
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| Organizations performing similar types of work |
| Id | Name | Address | State | Established | Total Income |
|---|
| 1 | California State Summer School Arts Foundation | 39 East Walnut St 8, Pasadena, CA 91103-3832 | CA | 1987-08 | $1,064,719 |
| 2 | Friends Of The Denver School Of The Arts | 7111 Montview Blvd, Denver, CO 80220-1867 | CO | 1989-11 | $226,268 |
| 3 | Founders Society, Flint Institute Of Arts | 1120 E Kearsley St, Flint, MI 48503-1915 | MI | 1976-08 | $86,940 |
| 4 | David Wolcott Kendall Memorial School, Kendall College Of Art & Design | 17 Fountain St Nw, Grand Rapids, MI 49503-3002 | MI | 1946-09 | $0 |
| Number of organizations performing similar types of work |
| |
| Total | 4 |
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