Island Music Awards Inc in W Palm Beach, Florida (FL)

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Island Music Awards Inc
Employer Identification Number (EIN)650310492
Name of OrganizationIsland Music Awards Inc
Address2300 Palm Beach Lakes Blvd Ste 202, W Palm Beach, FL 33409-3305
ActivitiesDescribed in section 509(a)(2) of the Code, Other cultural or historical activities
SubsectionCharitable Organization
Ruling Date08/1997
DeductibilityContributions are deductible
FoundationPrivate non-operating foundation
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2013
Assets$1 to $9,999
Income$1 to $9,999
Filing Requirement990 - Not required to file (all other)
Asset Amount$1
Amount of Income$1
Form 990 Revenue Amount$1
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Cultural, Ethnic Awareness


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Amount of income in 2013: $1 (it was $1 in 2011)
Island Music Awards Inc: 

 $1
Other organizations performing similar types of work: 

 $97,846

Assets in 2013: $1 (it was $1 in 2011)
This organization: 

 $1
Other organizations performing similar types of work: 

 $104,292

Expenses in 2013: $0
Island Music Awards Inc: 

 $0
Other organizations performing similar types of work: 

 $89,663

Grants share in income in 2013: 0.0%
Island Music Awards Inc: 

 0.0%
Other organizations performing similar types of work: 

 8.6%

Financial snapshot ($)

Analysis of Revenue and Expenses (for 2013)
Revenue and expenses per booksNet investment incomeAdjusted net incomeDisbursements for charitable purposes (cash basis only)
Total revenue$1$0$0
Contributions, gifts, grants, etc., received$0
Interest on savings and temporary cash investments$0
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
Other$1
Total expenses and disbursements$0$0$0$0
Excess of revenue over expenses and disbursements$0
Net investment income$0
Adjusted net income$0
Balance Sheets
20112013
Book ValueFair Market ValueBook ValueFair Market Value
Total assets$1$0$1$0
Cash - non-interest-bearing$0$0
Investments-U.S. and state government obligations$0$0
Investments-corporate stock$0$0
Investments-corporate bonds$0$0
Investments-mortgage loans$0$0
Investments-other$0$0
Other assets$0$0
Total liabilities$0$0
Total liabilities and net assets/fund balances$0$0
Capital Gains and Losses for Tax on Investment Income
20112013
Capital gain net income$0$0
Net capital loss$0$0
Excise Tax Based on Investment Income
20112013
Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income)NoNo
Tax based on investment income$0$0
Total credits and payments$0$0
Any penalty for underpayment of estimated tax$0$0
Tax due$0$0
Overpayment$0$0
Amount to be credited to next year's estimated tax$0$0
Statements Regarding Activities
20112013
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?NoNo
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?NoNo
Has the foundation furnished a copy of Form 990-PF to the Attorney General (or designate) of each state?NoNo
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?NoNo
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?NoNo
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
20112013
During the year did the foundation (either directly or indirectly):
Engage in the sale or exchange, or leasing of property with a disqualified person?NoNo
Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person?NoNo
Furnish goods, services, or facilities to (or accept them from) a disqualified person?NoNo
Pay compensation to, or pay or reimburse the expenses of, a disqualified person?NoNo
Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)?NoNo
Agree to pay money or property to a government official?NoNo
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?NoNo
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?NoNo
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?NoNo
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?NoNo
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))?NoNo
Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive?NoNo
Provide a grant to an individual for travel, study, or other similar purposes?NoNo
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)?NoNo
Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals?NoNo
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
20112013
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes$0$0
Net value of noncharitable-use assets$0$0
Minimum investment return$0$0
Distributable Amount
20112013
Distributable amount$0$0
Undistributed Income
20112013
Distributable amount for this year$0$0
Undistributed income for this year. This amount must be distributed in the next year$0$0
Private Operating Foundations (for 2010 - 2013)
2013201220112010Total
The lesser of the adjusted net income or the minimum investment return$0$0$0$0$0
Qualifying distributions made directly for active conduct of exempt activities$0$0$0$0$0
Value of all assets$0$0$0$0$0
Value of assets qualifying under section 4942(j)(3)(B)(i)$0$0$0$0$0
2/3 of minimum investment return$0$0$0$0$0
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$0$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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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Caribbean Canboulay Of Miami Inc6073 Nw 167th St Ste C7, Miami Lakes, FL 33015-4314FL1995-01$0
2Caribbean Connection Cultural Foundation IncPO BOX 170762, Hialeah, FL 33017-0762FL1995-06$0
3Cultural Affairs Counsel Of South Miami Inc5610 Sunset Dr, Miami, FL 33143-5611FL1997-03$0
4First Nations Resource Network IncPO BOX 59, St Petersburg, FL 33731-0059FL1996-03$0
5Florida Abolitionist IncPo Box 536832, Orlando, FL 32853FL1995-05$0
6Florida Keys Renaissance Faire IncPO BOX 4306, Marathon, FL 33050FL1993-04$0
7Intercultura Overseas Exchange Association Inc9150 Sw 87 Ave Ste 110, Miami, FL 33176-2319FL1993-12$0
8Irish American Center Inc401 N 44th Ave, Hollywood, FL 33021-6648FL1992-06$0
9Italian Cultural Society Of Pensacola FloridaPO BOX 1811, Pensacola, FL 32591FL1994-04$0
10Kissimmee American Chinese CenterPO BOX 420187, Kissimmee, FL 34742-0187FL1995-06$0
11Martin County Black Heritage Association IncPO BOX 2779, Stuart, FL 34995-2779FL1995-09$0
12Muthamizh Sangam Of Central Fl Inc8430 Waialae Court, Orlando, FL 32819FL1995-12$0
13National Huguenot Society13647 Myrica Ct, Jacksonville, FL 32224FL1965-06$0
14National Huguenot Society4514 Coral Blvd, Bradenton, FL 34210FL1965-06$0
15National Huguenot Society921 Sunset Rd, Coral Gables, FL 33143FL1965-06$0
16National Huguenot Society6933 Sugarbush Drive, Orlando, FL 32819-4514FL1965-06$0
17North American Indian Center Of Western Florida IncPO BOX 1593, Homosassa Spg, FL 34447-1593FL1996-03$0
18Okaloosa County African-American Cultural Association Inc, Ocaaca IncPO BOX 2, Ft Walton Bch, FL 32549-0002FL1995-08$0
19Philippine Performing Arts Company Inc1950 Hammocks Ave, Lutz, FL 33549FL1991-11$0
20Project Black Cinema IncorporatedPO BOX 565, Sarasota, FL 34230-0565FL1992-06$0
Number of organizations performing similar types of work
Alaska3
Alabama2
Arkansas2
Arizona3
California59
Colorado2
Connecticut5
District of Columbia6
Florida25
Georgia8
Hawaii6
Iowa2
Idaho1
Illinois9
Indiana7
Kansas4
Kentucky3
Louisiana4
Massachusetts11
Maryland10
Michigan13
Minnesota4
Missouri5
Mississippi3
Montana1
North Carolina8
Nebraska1
New Jersey10
New Mexico1
Nevada2
New York40
Ohio21
Oklahoma2
Oregon8
Pennsylvania11
Rhode Island2
South Carolina1
South Dakota2
Tennessee2
Texas13
Utah1
Virginia9
Vermont2
Washington5
Wisconsin1
West Virginia3
Wyoming2
Total345

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