Apex Arts League in Southlake, Texas (TX)
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
| Apex Arts League | |
| Employer Identification Number (EIN) | 752770848 |
| Name of Organization | Apex Arts League |
| Address | 2140 E Southlake Blvd L-425, Southlake, TX 76092-6516 |
| Activities | Described in section 170(b)1)(a)(vi) of the Code, Art exhibit |
| Subsection | Charitable Organization |
| Ruling Date | 10/1998 |
| Deductibility | Contributions are deductible |
| Foundation | Private non-operating foundation |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $25,000 to $99,999 |
| Income | $10,000 to $24,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $67,103 |
| Amount of Income | $23,385 |
| Form 990 Revenue Amount | $20,463 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Art Museums |
Non-representatives - add comments:
Amount of income in 2013: $23,385 (it was $38,786 in 2012)
| Apex Arts League: | $23,385 |
| Other organizations performing similar types of work: | $121,366 |
Assets in 2013: $67,103 (it was $70,069 in 2012)
| This organization: | $67,103 |
| Other organizations performing similar types of work: | $286,656 |
Expenses in 2012: $34,527
| This organization: | $34,527 |
| Other organizations performing similar types of work: | $84,708 |
Income to expenses ratio in 2012: 0.7
| This organization: | 0.7 |
| Other organizations performing similar types of work: | 1.4 |
Grants share in income in 2012: 97.2%
| This organization: | 97.2% |
| Other organizations performing similar types of work: | 39.7% |
Revenue 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 | $38,786 | $1,090 | $1,090 | |
| Contributions, gifts, grants, etc., received | $37,696 | |||
| Interest on savings and temporary cash investments | $1,090 | |||
| Dividends and interest from securities | $0 | |||
| Gross rents | $0 | |||
| Gross profit from sales of goods | $0 | |||
| Other income | $0 | |||
| Total expenses and disbursements | $34,527 | $0 | $0 | $0 |
| Compensation of officers, directors, trustees, etc. | $0 | |||
| Total operating and administrative expenses | $34,527 | $0 | $0 | |
| Contributions, gifts, grants paid | $0 | |||
| Excess of revenue over expenses and disbursements | $4,259 | |||
| Net investment income | $1,090 | |||
| Adjusted net income | $1,090 | |||
| Balance Sheets (for 2012) | ||
| Book Value | Fair Market Value | |
|---|---|---|
| Total assets | $70,069 | $0 |
| Cash - non-interest-bearing | $10,603 | |
| Investments-U.S. and state government obligations | $0 | |
| Investments-corporate stock | $0 | |
| Investments-corporate bonds | $0 | |
| Investments-mortgage loans | $0 | |
| Investments-other | $0 | |
| Other | $59,466 | |
| Total liabilities | $1 | |
| Mortgages and other notes payable | $0 | |
| Other | $1 | |
| Total liabilities and net assets/fund balances | $70,069 | |
| 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 | $22 |
| Total credits and payments | $0 |
| Any penalty for underpayment of estimated tax | $0 |
| Tax due | $22 |
| 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? | No |
| 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 | $60,000 |
| Net value of noncharitable-use assets | $59,100 |
| Minimum investment return | $2,955 |
| Distributable Amount (for 2012) | |
| Distributable amount | $2,933 |
| Undistributed Income (for 2012) | |
| Distributable amount for 2012 | $2,933 |
| 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 | $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 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Nasher Foundation 101796 | 500 S Center St, Forney, TX 75126-9783 | TX | 1997-04 | $59,474,579 |
| 2 | Site Santa Fe | 1606 Paseo De Peralta, Santa Fe, NM 87501-3724 | NM | 1997-11 | $5,146,023 |
| 3 | Lux Art Institute | 1550 S El Camino Real, Encinitas, CA 92024-4908 | CA | 1998-10 | $876,172 |
| 4 | The Clark Center For Japanese Art & Culture | 15770 10th Ave, Hanford, CA 93230-9533 | CA | 1996-06 | $812,914 |
| 5 | Torrance Cultural Arts Center Foundation | 2550 Hawthorne Boulevard, Torrance, CA 90505 | CA | 1994-09 | $308,789 |
| 6 | Masayuki And Harue Tokioka Foundation Inc | 1132 Bishop St Ste 2450, Honolulu, HI 96813-2865 | HI | 1997-04 | $246,019 |
| 7 | West Virginia Museum Of American Glass Ltd | 230 Main Ave, Weston, WV 26452-2044 | WV | 1994-05 | $231,339 |
| 8 | Woman Made | 685 N Milwaukee Ave, Chicago, IL 60642-8021 | IL | 1994-01 | $188,371 |
| 9 | Houston Artists Fund | 2900 Weslayan, Houston, TX 77027-5132 | TX | 1995-04 | $118,151 |
| 10 | Billie Trimble Chandler Arts Foundation Inc | 1809 Chaparral, Corpus Christi, TX 78401 | TX | 1974-07 | $77,067 |
| 11 | Abraham Art Foundation Inc | PO BOX 1283, Canadian, TX 79014-1283 | TX | 1998-08 | $32,230 |
| 12 | Apex Arts League | 2140 E Southlake Blvd L-425, Southlake, TX 76092-6516 | TX | 1998-10 | $23,385 |
| 13 | Art League Of Smithville | 301 Burleson St, Smithville, TX 78957-1544 | TX | 1992-10 | $0 |
| 14 | Artwalk International Exchange Foundation | 3100 Main St Suite 180, Dallas, TX 75226 | TX | 1997-07 | $0 |
| 15 | Dallas Handweavers And Spinners Guild | 3630 Harry Hines Box 23, Dallas, TX 75219 | TX | 1993-07 | $0 |
| 16 | Die Kunstler Von Fredericksburg | Po Box 1122, Fredericksburg, TX 78624 | TX | 1993-10 | $0 |
| 17 | North American Foundation For The Arts, N A F F T A | 417 8th St, San Antonio, TX 78215-1504 | TX | 1995-04 | $0 |
| 18 | Southwest Black Arts Festival Inc | 2917 Swiss Ave, Dallas, TX 75204-5927 | TX | 1993-11 | $0 |
| 19 | Trinity Arts Guild | P O Box 991, Bedford, TX 76095-9003 | TX | 1997-04 | $0 |
| 20 | Wit Foundation For Artists | 3805 S Versailles Ave, Dallas, TX 75209-5927 | TX | 1996-02 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 162 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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