Patricia Arscott La Farge Foundation For Folk Art in Santa Fe, New Mexico (NM)

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Patricia Arscott La Farge Foundation For Folk Art
Employer Identification Number (EIN)262964357
Name of OrganizationPatricia Arscott La Farge Foundation For Folk Art
In Care of NameKenneth Bateman
AddressPO BOX 31182, Santa Fe, NM 87594-1182
SubsectionCharitable Organization
Ruling Date10/2008
DeductibilityContributions are deductible
FoundationPrivate operating foundation (other)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$25,000 to $99,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$84,347
Amount of Income$9,372
Form 990 Revenue Amount$1,809
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts, Cultural Organizations - Multipurpose


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Amount of income in 2013: $9,372 (it was $1,422 in 2012)
This organization: 

 $9,372
Other organizations performing similar types of work: 

 $59,050

Assets in 2013: $84,347 (it was $89,836 in 2012)
Patricia Arscott La Farge Foundation For Folk Art: 

 $84,347
Other organizations performing similar types of work: 

 $25,518

Expenses in 2013: $14,861
This organization: 

 $14,861
Other organizations performing similar types of work: 

 $51,518

Income to expenses ratio in 2013: 0.6
This organization: 

 0.6
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2013: 99.3%
Patricia Arscott La Farge Foundation For Folk Art: 

 99.3%
Other organizations performing similar types of work: 

 1.3%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Expenses for 2013

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$9,372$69$69
Contributions, gifts, grants, etc., received$9,303
Interest on savings and temporary cash investments$69
Dividends and interest from securities$0
Gross rents$0
Gross sales price for all assets$0
Gross profit from sales of goods$0
Other income$0
Total expenses and disbursements$14,861$505$0$6,608
Compensation of officers, directors, trustees, etc.$488
Pension plans, employee benefits$0
Legal fees$0
Accounting fees$2,020
Interest$14
Depreciation$1,267
Occupancy$1,648
Travel, conferences, and meetings$547
Printing and publications$0
Total operating and administrative expenses$9,861$505$1,608
Contributions, gifts, grants paid$5,000
Excess of revenue over expenses and disbursements$-5,489
Net investment income$0
Adjusted net income$69
Balance Sheets
201120122013
Book ValueFair Market ValueBook ValueFair Market ValueBook ValueFair Market Value
Total assets$103,046$103,046$89,836$89,836$84,347$84,347
Cash - non-interest-bearing$0$0$4,550
Investments-U.S. and state government obligations$0$0$0
Investments-corporate stock$0$0$0
Investments-corporate bonds$0$0$0
Investments-mortgage loans$0$0$0
Investments-other$0$0$0
Other assets$4,024$8,680
Total liabilities$1$1$1
Mortgages and other notes payable$0$0$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$103,046$89,836$84,347
Capital Gains and Losses for Tax on Investment Income
201120122013
Capital gain net income$0$0$0
Net capital loss$0$0$0
Excise Tax Based on Investment Income
201120122013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNoNo
Tax based on investment income$0$0$0
Total credits and payments$0$0$0
Any penalty for underpayment of estimated tax$0$0$0
Tax due$0$0
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0$0
Statements Regarding Activities
201120122013
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did it participate or intervene in any political campaign?NoNoNo
Has the foundation engaged in any activities that have not previously been reported to the IRS?NoNo
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles of incorporation, or bylaws, or other similar instruments?NoNo
Has the foundation filed a tax return on Form 990-T for this year?NoNo
Was there a liquidation, termination, dissolution, or substantial contraction during the year?NoNoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?YesYes
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for current calendar year or the taxable year beginning in this year?YesYesYes
Did any persons become substantial contributors during the tax year?NoNo
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had advisory privileges?NoNo
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?YesYes
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041NoNo
Statements Regarding Activities for Which Form 4720 May Be Required
201120122013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?YesYesYes
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?YesYesYes
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNoNo
Agree to pay money or property to a government official?NoNoNo
Did any of the acts fail to qualify under the exceptions described in Regulations section 53.4941(d)-3 or in a current notice regarding disaster assistance?NoNo
Did the foundation engage in a prior year in any of the acts, other than excepted acts, that were not corrected before the first day of the tax year beginning in this year?NoNo
At the end of this tax year, did the foundation have any undistributed income for tax year(s) beginning before this year?NoNoNo
Are there any years listed above for which the foundation is not applying the provisions of section 4942(a)(2) (relating to incorrect valuation of assets) to the year's undistributed income?NoNo
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year?NoNoNo
Did the foundation have excess business holdings in this year as a result of (1) any purchase by the foundation or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3) the lapse of the 10-, 15-, or 20-year first phase holding period?NoNoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNoNo
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in this year?NoNo
During the year did the foundation pay or incur any amount to:
Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?NoNoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNoNo
Provide a grant to an organization other than a charitable, etc., organization described in section 509(a)(1), (2), or (3), or section 4940(d)(2)?NoNoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNoNo
Did any of the transactions fail to qualify under the exceptions described in Regulations section 53.4945 or in a current notice regarding disaster assistance?NoNo
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
Minimum Investment Return
201120122013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$99,405$86,661$77,039
Net value of noncharitable-use assets$85,361$75,883
Minimum investment return$4,896$4,268$3,794
Distributable Amount
201120122013
Distributable amount$0$0$0
Undistributed Income
201120122013
Distributable amount for this year$0$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$69$172$449$820$1,510
Qualifying distributions made directly for active conduct of exempt activities$2,865$2,558$7,080$6,869$19,372
Value of all assets$1$0$0$0$1
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$2,529$2,845$3,264$3,441$12,079
Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties)$0$0$0$0$0
Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)$0$0$0$0$0
Gross investment income$0$0$0$0$0
Supplementary Information (for 2013)
Grants approved for future payment$0
Analysis of Income-Producing Activities (for 2013)
AmountRelated or exempt function income
Program service revenue
Fees and contracts from government agencies$0$0
Membership dues and assessments$0$0
Interest on savings and temporary cash investments$69$0
Dividends and interest from securities$0$0
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations (for 2013)
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Transfers from the reporting foundation to a noncharitable exempt organization of:
CashNo
Other assetsNo
Other transactions:
Sales of assets to a noncharitable exempt organizationNo
Purchases of assets from a noncharitable exempt organizationNo
Rental of facilities, equipment, or other assetsNo
Reimbursement arrangementsNo
Loans or loan guaranteesNo
Performance of services or membership or fundraising solicitationsNo
Sharing of facilities, equipment, mailing lists, other assets, or paid employeesNo
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2New Mexico Advocates For The Arts IncPO BOX 938, Las Cruces, NM 88004-0938NM2014-02$221,745
3Parallel Studios Inc167 Soaring Hawk Trl, Santa Fe, NM 87508-1414NM2011-02$148,717
4Santa Fe Artists Market Inc1000 Cordova Place 272, Santa Fe, NM 87505-1725NM2012-11$74,751
5Santa Fe Short Story Festival826 Camino De Monte Rey Ste A-6, Santa Fe, NM 87505-3961NM2005-11$70,457
6Empower New Mexico Inc119 Sunlit Dr West, Santa Fe, NM 87508NM2010-11$44,583
7Corrales Society Of Artists-New Mexico Artists Market6216 Calle De Vida Nw, Albuquerque, NM 87114NM2014-08$36,994
8International Land-Sensitive Art Foundation, IlsafPO BOX 9270, Santa Fe, NM 87504-9270NM2013-09$33,585
9Ruidoso Regional Council For The Arts Inc1712 Sudderth Dr, Ruidoso, NM 88345-6113NM2003-10$24,143
10Tibet Center-New Mexico IncPo Box 65974, Albuquerque, NM 87193-5974NM2012-06$10,240
11Touchstone Foundation IncPO BOX 1885, Taos, NM 87571-1885NM2001-05$1,000
12All One Thread Inc505 La Lomita Road, Taos, NM 87571NM2014-11$0
13American Sewing Guild Inc, Las Cruces Chapter2761 Lookout Ridge Dr, Las Cruces, NM 88011-0832NM1986-03$0
14Another Planet Cultural Foundation IncPO BOX 65, Las Cruces, NM 88004-0065NM2005-10$0
15Artforms Artist Association Of New Mexico4652 Calle De Nubes, Las Cruces, NM 88012NM2000-08$0
16Arts League International IncPO BOX 867, Columbus, NM 88029-0867NM2007-06$0
17Artworks America CorporationPo Box 32384, Santa Fe, NM 87594NM2011-02$0
18Aztec Highland Games Celtic Music Festival322 S Mesa Verde Avenue, Aztec, NM 87410NM2015-01$0
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Number of organizations performing similar types of work
Alaska22
Alabama63
Arkansas50
Arizona135
California1,022
Colorado143
Connecticut88
District of Columbia74
Delaware13
Florida371
Georgia162
Hawaii83
Iowa63
Idaho34
Illinois240
Indiana102
Kansas48
Kentucky74
Louisiana85
Massachusetts189
Maryland133
Maine46
Michigan156
Minnesota133
Missouri129
Mississippi35
Montana33
North Carolina169
North Dakota14
Nebraska42
New Hampshire25
New Jersey180
New Mexico70
Nevada39
New York667
Ohio194
Oklahoma53
Oregon141
Pennsylvania218
Rhode Island33
South Carolina64
South Dakota17
Tennessee93
Texas380
Utah63
Virginia178
Vermont26
Washington183
Wisconsin110
West Virginia47
Wyoming10
International21
Total6,763

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