Traditional Art Society Of Korea Incorporated in Flushing, New York (NY)

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Traditional Art Society Of Korea Incorporated
Employer Identification Number (EIN)452412160
Name of OrganizationTraditional Art Society Of Korea Incorporated
Address4519 162nd St Ste 2a, Flushing, NY 11358-3137
SubsectionCharitable Organization, Educational Organization
Ruling Date10/2011
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 Period12/2012
Assets$1 to $9,999
Income$25,000 to $99,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$3,368
Amount of Income$66,630
Form 990 Revenue Amount$47,229
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts, Cultural Organizations - Multipurpose


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Amount of income in 2012: $66,630 (it was $60,825 in 2011)
Traditional Art Society Of Korea Incorporated: 

 $66,630
Other organizations performing similar types of work: 

 $59,050

Assets in 2012: $3,368 (it was $9,234 in 2011)
Traditional Art Society Of Korea Incorporated: 

 $3,368
Other organizations performing similar types of work: 

 $25,518

Expenses in 2012: $52,611
Traditional Art Society Of Korea Incorporated: 

 $52,611
Other organizations performing similar types of work: 

 $51,518

Income to expenses ratio in 2012: 1.3
This organization: 

 1.3
Other organizations performing similar types of work: 

 1.0

Grants share in income in 2012: 60.3%
Traditional Art Society Of Korea Incorporated: 

 60.3%
Other organizations performing similar types of work: 

 1.3%

Financial snapshot ($)

Revenue for 2012

Revenue, Expenses, and Changes in Net Assets or Fund Balances (for 2012)
Total revenue$47,229
Contributions, gifts, grants, and similar amounts received$28,500
Program service revenue including government fees and contracts$18,400
Membership dues and assessments$6,500
Investment income$0
Gain from sale of assets other than inventory$0
Net loss from gaming and fundraising events$-6,171
Gross income from gaming$0
Gross income from fundraising events$13,230
Less: direct expenses from gaming and fundraising events$19,401
Gross profit from sales of inventory$0
Other revenue$0
Total expenses$52,611
Total net assets$-82,048
Deficit for the year$-5,382
Net assets or fund balances at beginning of year$-76,666
Other changes in net assets or fund balances$0
Balance Sheets (for 2012)
Total assets$3,368
Total liabilities$85,416
Net assets or fund balances$-82,048
Other Information (for 2012)
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Reason for Public Charity Status (for 2012)
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
Support Schedule for Organizations Described in Section 509(a)(2) (for 2012)
2008 - 2012 Total
Total support$108,054
Gifts, grants, contributions, and membership fees received$108,054
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$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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$0
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Organizations performing similar types of work
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1Womans Art Club Of Cincinnati Foundation6980 Cambridge Ave, Cincinnati, OH 45227-3362OH2007-03$122,085
2Culture Shed Inc Co Geller & Co909 Third Ave 16th Floor, New York, NY 10022NY2013-02$41,285,773
3Bethel Woods Center For The Arts IncPO BOX 222, Liberty, NY 12754-0222NY2012-11$15,886,387
4Hedda Sterne Foundation Inc350 Fifth Ave Ste 68th Fl, New York, NY 10118-0110NY2013-05$8,379,783
5Council For American Culture And Education Inc370 Lexington Ave Rm 2000, New York, NY 10017-6576NY2009-10$3,375,570
6Powerhouse Environmental Arts Foundation7 Times Square, New York, NY 10036-6524NY2015-02$2,534,027
7Marina Abramovic Institute For Preservation Of Performance Art In180 Varick St Rm 1030, New York, NY 10014-5481NY2011-05$2,151,049
8Kenneth Noland FoundationC/O Paul E Van Horn Esq, New York, NY 10016NY2010-07$1,181,003
9Senate Presidents Forum26 Main St, Hastings Hdsn, NY 10706-1602NY1994-11$1,103,279
10State Theatre Of Ithaca Inc111 W State St, Ithaca, NY 14850-5427NY2009-02$912,467
11The Royal Conservatory Of America Corp200 Delaware Ave Ste 900, Buffalo, NY 14202-2107NY2012-08$862,968
12Arts Services Initiative Of Western New YorkSte 402, Buffalo, NY 14203NY2013-03$538,549
13Westchester Italian Cultural Center Inc24 Depot Sq, Tuckahoe, NY 10707-4000NY2003-11$535,343
14Hand-Eye Fund Ltd143 Reade St Apt 5c, New York, NY 10013-3900NY2011-01$467,955
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16Center For Italian Modern Art Llc, Broommeart Foundation For Italian421 Broome St Fl 4, New York, NY 10013-3288NY2014-08$390,609
17Irish Cultural Center Hudson Valley IncPO BOX 1235, Kingston, NY 12402-1235NY2012-08$361,608
18Zgd Inc75 Broad St Rm 304, New York, NY 10004-3237NY1994-10$360,306
19The Niagara Arts & Cultural Center Inc, S O S1201 Pine Ave, Niagara Falls, NY 14301-1917NY2001-08$358,681
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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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