Boffo Inc in New York, New York (NY)
Table of contents:
| Boffo Inc | |
| Employer Identification Number (EIN) | 800596480 |
| Name of Organization | Boffo Inc |
| In Care of Name | Faris Al-Shathir |
| Address | 85 Kenmare St Apt 22, New York, NY 10012-4516 |
| Subsection | Educational Organization |
| Ruling Date | 04/2011 |
| 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 | 12/2013 |
| Assets | $1 to $9,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $6,451 |
| Amount of Income | $156,939 |
| Form 990 Revenue Amount | $97,998 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Visual Arts Organizations |
Non-representatives - add comments:
Amount of income in 2013: $156,939 (it was $48,941 in 2012)
| Boffo Inc: | $156,939 |
| Other organizations performing similar types of work: | $50,352 |
Assets in 2013: $6,451 (it was $7,928 in 2012)
| Boffo Inc: | $6,451 |
| Other organizations performing similar types of work: | $28,414 |
Expenses in 2013: $180,180
| Boffo Inc: | $180,180 |
| Other organizations performing similar types of work: | $39,961 |
Income to expenses ratio in 2013: 0.9
| This organization: | 0.9 |
| Other organizations performing similar types of work: | 0.8 |
Grants share in income in 2013: 60.5%
| This organization: | 60.5% |
| Other organizations performing similar types of work: | 100.0% |
Revenue for 2013
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total revenue | $71,192 | $130,799 | $48,941 | $97,998 |
| Contributions, gifts, grants, and similar amounts received | $71,192 | $17,990 | $20,050 | $59,309 |
| Program service revenue including government fees and contracts | $0 | $130,000 | $28,891 | $3,500 |
| Membership dues and assessments | $0 | $0 | $0 | $0 |
| Investment income | $0 | $0 | $0 | $0 |
| Gain/Loss from sale of assets other than inventory | $0 | $0 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $0 | $-17,191 | $0 | $3,102 |
| Gross income from gaming | $0 | $0 | $0 | $0 |
| Gross income from fundraising events | $0 | $48,234 | $0 | $35,266 |
| Less: direct expenses from gaming and fundraising events | $0 | $65,425 | $0 | $32,164 |
| Gross profit/loss from sales of inventory | $0 | $0 | $0 | $32,087 |
| Gross sales of inventory, less returns and allowances | $0 | $0 | $0 | $58,864 |
| Less: cost of goods sold | $0 | $0 | $0 | $26,777 |
| Other revenue | $0 | $0 | $0 | $0 |
| Total expenses | $106,031 | $200,606 | $93,517 | $180,180 |
| Total net assets | $-34,839 | $-104,646 | $-149,222 | $-231,404 |
| Excess/Deficit for the year | $-34,839 | $-69,807 | $-44,576 | $-82,182 |
| Net assets or fund balances at beginning of year | $0 | $-34,839 | $-104,646 | $-149,222 |
| Other changes in net assets or fund balances | $0 | $0 | $0 | $0 |
| Net assets or fund balances at end of year | $-104,646 | $-149,222 | $-231,404 | |
| Balance Sheets | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Total assets | $133 | $1,826 | $7,928 | $6,451 |
| Total liabilities | $34,972 | $106,472 | $157,150 | $237,855 |
| Net assets or fund balances | $-34,839 | $-104,646 | $-149,222 | $-231,404 |
| Other Information | ||||
| 2010 | 2011 | 2012 | 2013 | |
|---|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | Yes | |
| Were any significant changes made to the organizing or governing documents? | No | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | No | No | No | |
| Did the organization borrow from, or make any loans to, any officer, director, trustee, or key employee or were any such loans made in a prior year and still outstanding at the end of the tax year covered by this return? | Yes | Yes | Yes | |
| Total amount involved | $61,250 | $128,250 | $212,455 | |
| Initiation fees and capital contributions | $0 | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $0 | $0 | $0 | $0 |
| Did the organization engage in any section 4958 excess benefit transaction during the year, or did it engage in an excess benefit transaction in a prior year that has not been reported on any of its prior Forms 990 or 990-EZ? | No | No | No | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | No | |
| 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 supported | 0 |
| 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 | $168,541 |
| Subtotal Support | $168,541 |
| Gifts, grants, contributions, and membership fees received | $168,541 |
| 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 | $0 |
| Total Support | $168,541 |
| Public Support | $168,541 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income. Do not include gain or loss from the sale of capital assets | $0 |
| Gross receipts from related activities, etc. | $221,255 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | The Stephen Hahn Foundation, Hahn Stephen R Ttee | 450 7th Ave Ste 2701, New York, NY 10123-2701 | NY | 1991-08 | $1,028,615 |
| 2 | The Laundromat Project | 275 Macdonough Street, Brooklyn, NY 11233 | NY | 2010-02 | $492,718 |
| 3 | Venetian Heritage Inc | 2nd Flr, New York, NY 10022 | NY | 1999-03 | $405,813 |
| 4 | Modern Quilt Guild Inc | Po 1031, Getsville, NY 14068 | NY | 2014-08 | $303,484 |
| 5 | Salem Art Works Inc | PO BOX 512, Salem, NY 12865-0512 | NY | 2007-12 | $264,233 |
| 6 | Boffo Inc | 85 Kenmare St Apt 22, New York, NY 10012-4516 | NY | 2011-04 | $156,939 |
| 7 | Brooklyn Film Society Inc | PO BOX 110521, Brooklyn, NY 11211-0521 | NY | 2010-11 | $128,845 |
| 8 | Center For Initiatives In Art & Culture Inc | 333 East 57th Street No 13b, New York, NY 10022 | NY | 2008-11 | $113,791 |
| 9 | More Art Inc | 71 Nassau St, New York, NY 10038-3716 | NY | 2009-03 | $94,947 |
| 10 | Arts Horizons Leroy Neiman Art Center Inc | 2785 Frederick Douglass Boulevard, New York, NY 10039-3152 | NY | 2014-09 | $93,849 |
| 11 | Eye & I Inc | 49 Crown Street 6c, Brooklyn, NY 11225 | NY | 2003-07 | $77,400 |
| 12 | Cherry Valley Art Works Inc | Po Box 92, Cherry Valley, NY 13320 | NY | 2006-01 | $50,990 |
| 13 | Harrison Foundation For Ecology And The Arts | 600 Third Ave, New York, NY 10016-1901 | NY | 2011-05 | $43,459 |
| 14 | Human Future Dance Corps Inc | 140-42 Second Avenue, New York, NY 10003 | NY | 2010-04 | $41,279 |
| 15 | Thomas Moran Trust Inc | PO BOX 1234, East Hampton, NY 11937-0793 | NY | 2007-05 | $40,798 |
| 16 | Sonnabend Collection Foundation | C/O Goldglit Co Llp 499 7th Avenue, New York, NY 10018 | NY | 2013-12 | $40,000 |
| 17 | Society Of American Registered Architects Education Fund Inc | 6167 77th St, Middle Vlg, NY 11379-1331 | NY | 2007-04 | $38,220 |
| 18 | Leon Polk Smith Foundation Inc | 275 Madison Ave Ste 1200, New York, NY 10016-1119 | NY | 2012-09 | $28,878 |
| 19 | The American Associates Of The National Galleries Of Scotland Inc | 120 E End Ave 4a, New York, NY 10028-7552 | NY | 2002-03 | $25,002 |
| 20 | Theater In The Woods Film Conservatory Inc | 2 Helena Rd, Staten Island, NY 10304-1353 | NY | 2011-09 | $18,225 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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