55 Mercer Street Artists Inc, M55 Art in Brooklyn, New York (NY)

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55 Mercer Street Artists Inc, M55 Art
Employer Identification Number (EIN)133022881
Name of Organization55 Mercer Street Artists Inc
Secondary NameM55 Art
In Care of NameEdwin Rath
Address220 Plymouth Street Apt 3a, Brooklyn, NY 11201
ActivitiesCultural performances, Art exhibit
SubsectionEducational Organization
Ruling Date10/1989
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 Period2011
Assets$25,000 to $99,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$39,908
Amount of Income$53,249
Form 990 Revenue Amount$53,249
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Visual Arts Organizations


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Amount of income in 2011: $53,249 (it was $53,249 in 2014)
This organization: 

 $53,249
Other organizations performing similar types of work: 

 $50,352

Assets in 2011: $39,908 (it was $39,908 in 2014)
55 Mercer Street Artists Inc, M55 Art: 

 $39,908
Other organizations performing similar types of work: 

 $28,414

Expenses in 2014: $45,274
55 Mercer Street Artists Inc, M55 Art: 

 $45,274
Other organizations performing similar types of work: 

 $39,961

Income to expenses ratio in 2014: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 0.8

Grants share in income in 2014: 18.8%
55 Mercer Street Artists Inc, M55 Art: 

 18.8%
Other organizations performing similar types of work: 

 100.0%

Financial snapshot ($)

Revenue for 2014

Revenue, Expenses, and Changes in Net Assets or Fund Balances
201220132014
Total revenue$45,674$65,696$53,249
Contributions, gifts, grants, and similar amounts received$5,000$17,374$10,000
Program service revenue including government fees and contracts$0$0$0
Membership dues and assessments$33,170$42,503$39,205
Investment income$14$19$44
Gain/Loss from sale of assets other than inventory$0$0$0
Net income/loss from gaming and fundraising events$7,490$4,800$3,500
Gross income from gaming$0$0$0
Gross income from fundraising events$7,490$4,800$3,500
Less: direct expenses from gaming and fundraising events$0$0$0
Gross profit/loss from sales of inventory$0$0$0
Other revenue$0$1,000$500
Total expenses$56,028$43,084$45,274
Total net assets$9,321$31,933$39,908
Excess/Deficit for the year$-10,354$22,612$7,975
Net assets or fund balances at beginning of year$19,675$9,321$31,933
Other changes in net assets or fund balances$0$0$0
Net assets or fund balances at end of year$31,933$39,908
Balance Sheets
201220132014
Total assets$9,321$31,933$39,908
Total liabilities$0$0$0
Net assets or fund balances$9,321$31,933$39,908
Other Information
201220132014
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 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$228,189
Subtotal Support$228,189
Gifts, grants, contributions, and membership fees received$228,189
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
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$0
Total Support$228,189
Public Support$228,189
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$0
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$0
Gross receipts from related activities, etc.$43,249
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1The Stephen Hahn Foundation, Hahn Stephen R Ttee450 7th Ave Ste 2701, New York, NY 10123-2701NY1991-08$1,028,615
2The Laundromat Project275 Macdonough Street, Brooklyn, NY 11233NY2010-02$492,718
3Venetian Heritage Inc2nd Flr, New York, NY 10022NY1999-03$405,813
4Modern Quilt Guild IncPo 1031, Getsville, NY 14068NY2014-08$303,484
5Salem Art Works IncPO BOX 512, Salem, NY 12865-0512NY2007-12$264,233
6Boffo Inc85 Kenmare St Apt 22, New York, NY 10012-4516NY2011-04$156,939
7Brooklyn Film Society IncPO BOX 110521, Brooklyn, NY 11211-0521NY2010-11$128,845
8Center For Initiatives In Art & Culture Inc333 East 57th Street No 13b, New York, NY 10022NY2008-11$113,791
9More Art Inc71 Nassau St, New York, NY 10038-3716NY2009-03$94,947
10Arts Horizons Leroy Neiman Art Center Inc2785 Frederick Douglass Boulevard, New York, NY 10039-3152NY2014-09$93,849
11Eye & I Inc49 Crown Street 6c, Brooklyn, NY 11225NY2003-07$77,400
12Cherry Valley Art Works IncPo Box 92, Cherry Valley, NY 13320NY2006-01$50,990
13Harrison Foundation For Ecology And The Arts600 Third Ave, New York, NY 10016-1901NY2011-05$43,459
14Human Future Dance Corps Inc140-42 Second Avenue, New York, NY 10003NY2010-04$41,279
15Thomas Moran Trust IncPO BOX 1234, East Hampton, NY 11937-0793NY2007-05$40,798
16Sonnabend Collection FoundationC/O Goldglit Co Llp 499 7th Avenue, New York, NY 10018NY2013-12$40,000
17Society Of American Registered Architects Education Fund Inc6167 77th St, Middle Vlg, NY 11379-1331NY2007-04$38,220
18Leon Polk Smith Foundation Inc275 Madison Ave Ste 1200, New York, NY 10016-1119NY2012-09$28,878
19The American Associates Of The National Galleries Of Scotland Inc120 E End Ave 4a, New York, NY 10028-7552NY2002-03$25,002
20Theater In The Woods Film Conservatory Inc2 Helena Rd, Staten Island, NY 10304-1353NY2011-09$18,225
Number of organizations performing similar types of work
Alaska6
Alabama10
Arkansas11
Arizona25
California176
Colorado45
Connecticut18
District of Columbia12
Delaware4
Florida104
Georgia38
Hawaii10
Iowa17
Idaho11
Illinois62
Indiana31
Kansas7
Kentucky19
Louisiana13
Massachusetts42
Maryland24
Maine12
Michigan45
Minnesota19
Missouri26
Mississippi9
Montana11
North Carolina38
North Dakota4
Nebraska8
New Hampshire3
New Jersey34
New Mexico25
Nevada11
New York155
Ohio45
Oklahoma10
Oregon36
Pennsylvania51
Rhode Island4
South Carolina26
South Dakota3
Tennessee20
Texas100
Utah12
Virginia49
Vermont11
Washington44
Wisconsin21
West Virginia6
Wyoming3
International2
Total1,528

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