Foundation For The Art Renewal Center Inc in Port Reading, New Jersey (NJ)
Table of contents:
- Overview
- Detailed Reports
- Analysis of Revenue and Expenses
- Balance Sheets
- Capital Gains and Losses for Tax on Investment Income
- Excise Tax Based on Investment Income
- Statements Regarding Activities
- Statements Regarding Activities for Which Form 4720 May Be Required
- Minimum Investment Return
- Distributable Amount
- Undistributed Income
- Private Operating Foundations
- Organizations performing similar types of work
| Foundation For The Art Renewal Center Inc | |
| Employer Identification Number (EIN) | 043598440 |
| Name of Organization | Foundation For The Art Renewal Center Inc |
| In Care of Name | Frederick C Ross |
| Address | 100 Markley St, Port Reading, NJ 07064-1821 |
| Subsection | Charitable Organization |
| Ruling Date | 09/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Private operating foundation (other) |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $500,000 to $999,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $971,814 |
| Amount of Income | $496,723 |
| Form 990 Revenue Amount | $340,056 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Arts Council/Agency |
Non-representatives - add comments:
Amount of income in 2013: $496,723 (it was $494,354 in 2012)
| Foundation For The Art Renewal Center Inc: | $496,723 |
| Other organizations performing similar types of work: | $208,353 |
Assets in 2013: $971,814 (it was $651,878 in 2012)
| This organization: | $971,814 |
| Other organizations performing similar types of work: | $223,826 |
Expenses in 2012: $173,468
| Foundation For The Art Renewal Center Inc: | $173,468 |
| Other organizations performing similar types of work: | $198,715 |
Income to expenses ratio in 2012: 2.9
| This organization: | 2.9 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2012: 44.5%
| This organization: | 44.5% |
| Other organizations performing similar types of work: | 77.7% |
Revenue for 2012
Expenses for 2012
Assets for 2012
| Analysis of Revenue and Expenses (for 2012) | ||||
| Revenue and expenses per books | Net investment income | Adjusted net income | Disbursements for charitable purposes (cash basis only) | |
|---|---|---|---|---|
| Total revenue | $494,354 | $0 | $274,248 | |
| Contributions, gifts, grants, etc., received | $220,106 | |||
| Interest on savings and temporary cash investments | $0 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $274,248 | |||
| Total expenses and disbursements | $173,468 | $0 | $122,026 | $51,442 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $128,859 | $0 | $6,833 | |
| Contributions, gifts, grants paid | $44,609 | |||
| Excess of revenue over expenses and disbursements | $320,886 | |||
| Net investment income | $0 | |||
| Adjusted net income | $152,222 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $651,878 | $651,878 |
| Cash - non-interest-bearing | $395,480 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $256,398 | |
| Total liabilities | $7,000 | |
| Mortgages and other notes payable | $0 | |
| Other | $7,000 | |
| Total liabilities and net assets/fund balances | $644,878 | |
| Capital Gains and Losses for Tax on Investment Income (for 2012) | |
| Capital gain net income | $0 |
| Net capital loss | $0 |
| Excise Tax Based on Investment Income (for 2012) | |
| Domestic foundations that meet the section 4940(e) requirements (for Reduced Tax on Net Investment Income) | No |
| Tax based on investment income | $0 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $0 |
| Overpayment | $0 |
| Amount to be credited to 2013 estimated tax | $0 |
| Statements Regarding Activities (for 2012) | |
| 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? | No |
| Was there a liquidation, termination, dissolution, or substantial contraction during the year? | No |
| Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3) or 4942(j)(5) for calendar year 2012 or the taxable year beginning in 2012? | Yes |
| Statements Regarding Activities for Which Form 4720 May Be Required (for 2012) | |
| During the year did the foundation (either directly or indirectly): | |
| Engage in the sale or exchange, or leasing of property with a disqualified person? | No |
| Borrow money from, lend money to, or otherwise extend credit to (or accept it from) a disqualified person? | No |
| Furnish goods, services, or facilities to (or accept them from) a disqualified person? | No |
| Pay compensation to, or pay or reimburse the expenses of, a disqualified person? | No |
| Transfer any income or assets to a disqualified person (or make any of either available for the benefit or use of a disqualified person)? | No |
| Agree to pay money or property to a government official? | No |
| At the end of tax year 2012, did the foundation have any undistributed income for tax year(s) beginning before 2012? | No |
| Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at any time during the year? | No |
| Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes? | No |
| During the year did the foundation pay or incur any amount to: | |
| Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? | No |
| Influence the outcome of any specific public election (see section 4955); or to carry on, directly or indirectly, any voter registration drive? | No |
| Provide a grant to an individual for travel, study, or other similar purposes? | No |
| 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)? | No |
| Provide for any purpose other than religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals? | No |
| Minimum Investment Return (for 2012) | |
| Fair market value of assets not used (or held for use) directly in carrying out charitable, etc., purposes | $524,542 |
| Net value of noncharitable-use assets | $516,680 |
| Minimum investment return | $25,834 |
| Distributable Amount (for 2012) | |
| Distributable amount | $0 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $0 |
| Undistributed income for 2012. This amount must be distributed in 2013 | $0 |
| Private Operating Foundations (for 2012) | |||||
| 2012 | 2011 | 2010 | 2009 | Total | |
|---|---|---|---|---|---|
| The lesser of the adjusted net income or the minimum investment return | $25,834 | $17,063 | $0 | $3,916 | $46,813 |
| Qualifying distributions made directly for active conduct of exempt activities | $51,442 | $15,281 | $55,629 | $54,026 | $176,378 |
| Value of all assets | $651,878 | $323,992 | $160,236 | $316,153 | $1,452,259 |
| Value of assets qualifying under section 4942(j)(3)(B)(i) | $651,878 | $323,992 | $160,236 | $316,153 | $1,452,259 |
| 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 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Walton Arts Center Council Inc | PO BOX 3547, Fayetteville, AR 72702-3547 | AR | 1988-08 | $16,571,540 |
| 2 | Shreveport Regional Arts Council | 801 Crockett St, Shreveport, LA 71101-3435 | LA | 1977-03 | $4,297,085 |
| 3 | Western States Arts Federation | 1743 Wazee St Ste 300, Denver, CO 80202-1280 | CO | 1973-02 | $3,845,732 |
| 4 | The Art League Inc | 105 N Union St, Alexandria, VA 22314-3217 | VA | 1971-10 | $3,525,869 |
| 5 | Vermont Council On The Arts Inc, Vermont Arts Council | 136 State St, Montpelier, VT 05633-0001 | VT | 1967-04 | $1,849,495 |
| 6 | Texarkana Regional Arts & Humanities Council Inc | PO BOX 1171, Texarkana, TX 75504-1171 | TX | 1978-06 | $1,443,697 |
| 7 | United Arts Council Of Raleigh And Wake County Inc | 410 Glenwood Ave Ste 170, Raleigh, NC 27603-1292 | NC | 1966-05 | $1,366,249 |
| 8 | United Arts Council Of Greater Greensboro Inc | 200 N Davie Street Ste 201 Box 5, Greensboro, NC 27401-2865 | NC | 1962-09 | $1,302,409 |
| 9 | The Arts Center Of The Capital Region | 265 River St, Troy, NY 12180-3215 | NY | 1966-05 | $1,165,700 |
| 10 | Rockport Art Association Inc | 902 Navigation Cir, Rockport, TX 78382-2780 | TX | 1972-07 | $828,439 |
| 11 | Tucson-Pima Arts Council Inc | 100 N Stone Ave Ste 303, Tucson, AZ 85701-1514 | AZ | 1985-05 | $804,117 |
| 12 | Tibbits Opera Foundation And Arts Council Inc | 14 S Hanchett St, Coldwater, MI 49036-1907 | MI | 1965-10 | $609,852 |
| 13 | Foundation For The Art Renewal Center Inc | 100 Markley St, Port Reading, NJ 07064-1821 | NJ | 2003-09 | $496,723 |
| 14 | The Arts Council For Chautauqua County Inc | 116 E 3rd St, Jamestown, NY 14701-5402 | NY | 1973-01 | $446,393 |
| 15 | The Greater Jackson Arts Council | PO BOX 17, Jackson, MS 39205-0017 | MS | 1981-01 | $432,992 |
| 16 | Valley Performing Arts Council | PO BOX 71, Kingsburg, CA 93631-0071 | CA | 1998-03 | $278,284 |
| 17 | Hawaii Academy Of Performing Arts | 1159 Nuuanu Ave, Honolulu, HI 96717 | HI | 1999-03 | $248,638 |
| 18 | Shoreline Arts Alliance Inc | 725 Boston Post Road, Guilford, CT 06437-2736 | CT | 1980-11 | $208,353 |
| 19 | Pinelands Cultural Society | PO BOX 657, Waretown, NJ 08758-0657 | NJ | 1979-12 | $112,445 |
| 20 | Action Theatre Conservatory Inc, Action Theatre | 68 Union Ave, Clifton, NJ 07011-2628 | NJ | 1996-09 | $60,419 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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