Colorado Springs Fine Arts Center in Colorado Spgs, Colorado (CO)

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Colorado Springs Fine Arts Center
Employer Identification Number (EIN)840406947
Name of OrganizationColorado Springs Fine Arts Center
In Care of NameDebra Linster
Address30 W Dale St, Colorado Spgs, CO 80903-3210
ActivitiesArt exhibit
SubsectionCharitable Organization
Ruling Date04/1938
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 Period08/2013
Assets$10,000,000 to $49,999,999
Income$5,000,000 to $9,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$33,526,505
Amount of Income$9,374,830
Form 990 Revenue Amount$5,106,150
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts, Cultural Organizations - Multipurpose


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Amount of income in 2013: $9,374,830 (it was $7,915,409 in 2012)
Colorado Springs Fine Arts Center: 

 $9,374,830
Other organizations performing similar types of work: 

 $195,015

Assets in 2013: $33,526,505 (it was $35,464,556 in 2012)
Colorado Springs Fine Arts Center: 

 $33,526,505
Other organizations performing similar types of work: 

 $137,152

Expenses in 2013: $6,057,536
This organization: 

 $6,057,536
Other organizations performing similar types of work: 

 $181,390

Income to expenses ratio in 2013: 1.5
Colorado Springs Fine Arts Center: 

 1.5
Other organizations performing similar types of work: 

 1.0

Number of employees in 2013: 117
Colorado Springs Fine Arts Center: 

 117
Other organizations performing similar types of work: 

 6

Employees paid over $100,000 in 2013: 0.9%
This organization: 

 0.9%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 58.2%
Colorado Springs Fine Arts Center: 

 58.2%
Other organizations performing similar types of work: 

 49.7%

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)?NoNo
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?NoNo
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?NoNo
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?NoNo
Did the organization report an amount for other liabilities?YesNo
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?YesYes
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?YesYes
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?YesYes
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?NoNo
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?YesYes
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)?YesYes
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 1096148108
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?NoNo
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 return137117
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?YesYes
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?YesYes
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$287,198$283,768
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$0$0
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$4,339,904$4,751,034$5,106,150
Contributions, Gifts, Grants and Other Similar Amounts$2,346,493$3,069,616$2,972,455
Program Service Revenue$1,089,329$969,601$1,067,134
611600$333,235$320,461
900099$77,510$51,351
Theater Companies and Dinner Theaters $558,856$695,322
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$559,042$256,457$254,913
Income from investment of tax-exempt bond proceeds$0$0$0
Royalties$0$0$0
Net rental income$0$0$0
Net gain/loss from sales of assets other than inventory$-224,157$-90,840$248,689
Gross amount from sales of assets other than inventory (Securities / Other)$7,928,768 / $0$2,982,300 / $0$4,416,334 / $0
Less: cost or other basis and sales expenses (Securities / Other)$8,152,925 / $0$3,073,140 / $0$4,167,021 / $624
Gain or (loss) (Securities / Other)$-224,157 / $0$-90,840 / $0$249,313 / $-624
Net income/loss from fundraising events$-7,106$146,815$103,574
Gross income from fundraising events$165,454$238,050$204,609
Less: direct expenses$172,560$91,235$101,035
Net income/loss from gaming activities$0$0$0
Net income/loss from sales of inventory$13,810$11,837$11,893
Gross sales of inventory, less returns and allowances$13,810$11,837$11,893
Less: cost of goods sold$0$0$0
Miscellaneous Revenue$562,493$387,548$447,492
Drinking Places (Alcoholic Beverages) $377,154$429,907
Theater Companies and Dinner Theaters $10,394$17,585
All other revenue$0$0
Statement of Functional Expenses
201120122013
Total functional expenses$6,886,035$6,366,013$6,057,536
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$284,560$287,198$283,768
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$1,498,166$1,160,405$1,087,372
Pension plan accruals and contributions$0$0
Other employee benefits$113,561$133,938
Payroll taxes$178,033$135,817$132,390
Fees for services (non-employees)
Management$0$0
Legal$7,799$5,009
Accounting$16,105$19,815
Lobbying$0$0
Professional fundraising services$0$0$0
Investment management fees$0$0
Other$0$0
Advertising and promotion$116,268$145,211
Office expenses$0$0
Information technology$0$0
Royalties$0$0
Occupancy$1,245,130$1,199,123
Travel$6,032$20,170
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$0$0
Interest$30,503$24,400
Payments to affiliates$0$0
Depreciation, depletion, and amortization$1,449,714$1,448,489
Insurance$17,552$16,426
Other expenses$1,032,518$1,054,708
Other expenses$532,871$294,003
Other expenses$25,692$59,289
Other expenses$61,713$49,093
Other expenses$127,135$84,332
Balance Sheet
201120122013
Total assets$37,450,799$35,464,556$33,526,505
Cash - non-interest-bearing$458,146$52,243
Savings and temporary cash investments$0$0
Pledges and grants receivable, net$817,810$379,635
Accounts receivable, net$34,729$33,002
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$16,420$14,882
Prepaid expenses and deferred charges$72,450$135,458
Land, buildings, and equipment: cost or other basis$25,432,654$24,423,845
Investments - publicly traded securities$8,555,390$8,419,114
Investments - other securities$0$0
Investments - program-related$0$0
Intangible assets$0$0
Other assets$76,957$68,326
Total liabilities$13,956,938$13,442,757$11,840,177
Accounts payable and accrued expenses$1,371,455$869,342
Grants payable$0$0
Deferred revenue$381,427$372,064
Tax-exempt bond liabilities$12,190,375$11,189,875$10,149,375
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$0$0$449,396
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)$500,000$0
Total net assets or fund balances$23,493,861$22,021,799$21,686,328
Unrestricted net assets$20,188,022$20,603,304
Temporarily restricted net assets$1,230,613$479,860
Permanently restricted net assets$603,164$603,164
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 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 2009 - 2013)
2009 - 2013 Total
Public Support$11,751,658
Subtotal Support$12,243,681
Gifts, grants, contributions, and membership fees received$12,243,681
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$492,023
Total Support$16,452,887
Public Support$12,243,681
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,741,199
Net income from unrelated business activities, whether or not the business is regularly carried on$42,183
Other income. Do not include gain or loss from the sale of capital assets$2,425,824
Gross receipts from related activities, etc.$5,679,294
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$114,341$0$11,434
Gross receipts or sales less returns and allowances$20,789$0$0
Cost of goods sold$9,355$0$0
Gross profit$11,434$0$11,434
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$0$0$0
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$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$10,354
Compensation of officers, directors, and trustees$0
Salaries and wages$8,172
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$2,182
Unrelated business taxable income$80
Unrelated business taxable income before net operating loss deduction$1,080
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$1,080
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Colorado Springs Fine Arts Center30 W Dale St, Colorado Spgs, CO 80903-3210CO1938-04$9,374,830
2St Anns Warehouse Inc55 Washington St Ste 458, Brooklyn, NY 11201-1059NY1984-01$5,107,486
3Mizel Center For Arts And Culture350 S Dahlia St, Denver, CO 80246-8102CO1997-08$3,488,791
4The Wichita Center For The Arts Inc9112 E Central Ave, Wichita, KS 67206-2506KS1935-07$3,431,371
5Museum Of Contemporary Art Santa Barbara Inc653 Paseo Nuevo, Santa Barbara, CA 93101-3392CA1979-02$3,272,599
6Sangre De Cristo Arts & Conference Center Inc210 N Santa Fe Ave, Pueblo, CO 81003-4133CO1972-09$1,809,763
7Littleton Town Hall Arts Center, Town Hall Arts Center2450 W Main St, Littleton, CO 80120-1911CO1976-07$1,098,043
8Durango Arts Center Inc802 E 2nd Ave, Durango, CO 81301-5426CO1973-05$776,414
9Folkwest Incorporated, FolkwestPO BOX 3665, Pagosa Spgs, CO 81147-3665CO1999-03$534,236
10Western Colorado Center For The Arts Inc1803 N 7th St, Grand Jct, CO 81501-3009CO1957-02$526,495
11Hippodrome Arts CentrePO BOX 22, Julesburg, CO 80737-0022CO1998-04$218,923
12Boulder Dance Coalition6185 Arapahoe Ave, Boulder, CO 80303-1573CO1990-04$209,998
13Blue Sage CenterPO BOX 700, Paonia, CO 81428-0700CO1996-10$159,953
14Fremont Center For The ArtsPO BOX 1006, Canon City, CO 81215-1006CO1980-10$140,798
15Crested Butte Society IncPO BOX 324, Crested Butte, CO 81224-0324CO1973-07$139,093
16The Black Rose Acoustic SocietyPO BOX 165, Colorado Spgs, CO 80901-0165CO1996-05$65,394
17Country Dance & Song Society Inc, Friends Of Traditional DancePO BOX 64, Ft Collins, CO 80522-0064CO1993-05$37,350
18Celebrate Colorado ArtistsPO BOX 101870, Denver, CO 80250-1870CO1998-05$0
19First Night Colorado IncPO BOX 460595, Denver, CO 80246-0595CO1991-07$0
20Showcase Colorado Artists Inc16869 W 69th Circle, Arvada, CO 80007CO2008-08$0
Number of organizations performing similar types of work
Alaska4
Alabama5
Arkansas8
Arizona9
California76
Colorado18
Connecticut14
District of Columbia5
Delaware1
Florida33
Georgia11
Hawaii12
Iowa6
Idaho2
Illinois20
Indiana5
Kansas10
Kentucky4
Louisiana11
Massachusetts31
Maryland19
Maine6
Michigan21
Minnesota15
Missouri11
Mississippi2
Montana7
North Carolina27
North Dakota2
Nebraska6
New Hampshire4
New Jersey18
New Mexico4
Nevada2
New York75
Ohio23
Oklahoma4
Oregon11
Pennsylvania38
Rhode Island3
South Carolina5
South Dakota2
Tennessee15
Texas34
Utah8
Virginia24
Vermont10
Washington16
Wisconsin13
West Virginia9
International1
Total720

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