Velvet Foundation in Washington, District of Columbia (DC)
Table of contents:
| Velvet Foundation | |
| Employer Identification Number (EIN) | 262813161 |
| Name of Organization | Velvet Foundation |
| In Care of Name | Eric Fletcher |
| Address | PO BOX 71094, Washington, DC 20024-1094 |
| Subsection | Educational Organization |
| Ruling Date | 11/2008 |
| Deductibility | Contributions are deductible |
| Foundation | Organization which receives a substantial part of its support from a governmental unit or the general public |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2011 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $176,801 |
| Amount of Income | $139,890 |
| Form 990 Revenue Amount | $139,890 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Museum, Museum Activities |
Non-representatives - add comments:
Amount of income in 2011: $139,890 (it was $99,313 in 2010)
| Velvet Foundation: | $139,890 |
| Other organizations performing similar types of work: | $69,335 |
Assets in 2011: $176,801 (it was $77,054 in 2010)
| Velvet Foundation: | $176,801 |
| Other organizations performing similar types of work: | $145,105 |
Expenses in 2011: $53,986
| Velvet Foundation: | $53,986 |
| Other organizations performing similar types of work: | $47,186 |
Income to expenses ratio in 2011: 2.6
| This organization: | 2.6 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2011: 100.0%
| Velvet Foundation: | 100.0% |
| Other organizations performing similar types of work: | 26.3% |
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances (for 2011) | |
| Total revenue | $139,890 |
| Contributions, gifts, grants, and similar amounts received | $139,890 |
| Program service revenue including government fees and contracts | $0 |
| Membership dues and assessments | $0 |
| Investment income | $0 |
| Gain from sale of assets other than inventory | $0 |
| Net income from gaming and fundraising events | $0 |
| Gross profit from sales of inventory | $0 |
| Other revenue | $0 |
| Total expenses | $53,986 |
| Total net assets | $162,958 |
| Excess for the year | $85,904 |
| Net assets or fund balances at beginning of year | $77,054 |
| Other changes in net assets or fund balances | $0 |
| Balance Sheets (for 2011) | |
| Total assets | $176,801 |
| Total liabilities | $13,843 |
| Net assets or fund balances | $162,958 |
| Other Information (for 2011) | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Reason for Public Charity Status (for 2011) | |
| 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) |
| Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011) | |
| 2007 - 2011 Total | |
|---|---|
| Total Support | $289,676 |
| Gifts, grants, contributions, and membership fees received | $289,655 |
| 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 | $21 |
| Gross receipts from related activities, etc. | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Newseum Inc | 555 Pennsylvania Ave Nw, Washington, DC 20001-2114 | DC | 2006-03 | $62,624,477 |
| 2 | Trust For African Rock Arts | 77 W Wacker Dr, Chicago, IL 60601-1604 | IL | 2001-09 | $595,502 |
| 3 | Oakland Museum Of California | 1000 Oak Street, Oakland, CA 94607 | CA | 2012-02 | $16,648,339 |
| 4 | Liberty Aviation Museum Inc | 3515 E State Rd, Port Clinton, OH 43452-2618 | OH | 2011-01 | $16,356,534 |
| 5 | National Music Center And Museum Foundation | 1156 15th St Nw Ste 600, Washington, DC 20005-1767 | DC | 2002-02 | $979,610 |
| 6 | Kush Inc | 4545 42nd St Nw Ste 208, Washington, DC 20016-4623 | DC | 2004-09 | $150,269 |
| 7 | Velvet Foundation | PO BOX 71094, Washington, DC 20024-1094 | DC | 2008-11 | $139,890 |
| 8 | International Council Of Museums Us Chapter | 1025 Thomas Jefferson St Nw 500e, Washington, DC 20007-5204 | DC | 2014-10 | $92,567 |
| 9 | Association Of African American Museums | PO BOX 23698, Washington, DC 20026-3698 | DC | 2013-07 | $71,815 |
| 10 | Ikg Cultural Circles Inc, Ikg Cultural Circles | 1816 12th St Nw, Washington, DC 20009-4422 | DC | 2010-08 | $67,863 |
| 11 | Archie Edwards Blues Heritage Foundation Inc | PO BOX 10124, Washington, DC 20018-0124 | DC | 1998-11 | $34,551 |
| 12 | National Museum Of The Jewish People Inc, A Delaware Corporation | 2312 California St Nw, Washington, DC 20008-1637 | DC | 2004-03 | $543 |
| 13 | Africa Society Inc | 1221 Massachusetts Ave Nw Apt 403, Washington, DC 20005-5308 | DC | 2000-04 | $0 |
| 14 | Capitol Fire Museum Inc, Berk Sally | 2214 Wyoming Ave Nw, Washington, DC 20008-3908 | DC | 2000-05 | $0 |
| 15 | Confectionery Foundation | 1101 30th Street Nw No 200, Washington, DC 20007 | DC | 2014-08 | $0 |
| 16 | Museum For Black Innovation & Entrepreneurship | 3973 Harrison Street Nw, Washington, DC 20015 | DC | 2013-02 | $0 |
| 17 | Museum Of Hidden History | P O Box 772, Washington, DC 20044 | DC | 2012-08 | $0 |
| 18 | National Mall Conservancy, National Ideas Competitions | 1000 Potomac Street Nw, Washington, DC 20006 | DC | 2007-08 | $0 |
| 19 | Palisades Museum Of Prehistory | 5766 Sherier Place Nw, Washington, DC 20016 | DC | 2006-06 | $0 |
| 20 | Skyline Automotive Museum | 1747 Pennsylvania Ave Nw, Washington, DC 20006-4604 | DC | 2014-07 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 2,844 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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