K Space Contemporary in Corp Christi, Texas (TX)
Table of contents:
| K Space Contemporary | |
| Employer Identification Number (EIN) | 743006446 |
| Name of Organization | K Space Contemporary |
| In Care of Name | V Michelle Smythe |
| Address | PO BOX 545, Corp Christi, TX 78403-0545 |
| Subsection | Charitable Organization |
| Ruling Date | 09/2003 |
| Deductibility | Contributions are deductible |
| Foundation | Organization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2013 |
| Assets | $25,000 to $99,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 (all other) or 990EZ return |
| Asset Amount | $47,560 |
| Amount of Income | $178,019 |
| Form 990 Revenue Amount | $100,534 |
| National Taxonomy of Exempt Entities (NTEE) | Arts, Culture and Humanities: Visual Arts Organizations |
Non-representatives - add comments:
Amount of income in 2013: $178,019 (it was $142,683 in 2012)
| This organization: | $178,019 |
| Other organizations performing similar types of work: | $50,352 |
Assets in 2013: $47,560 (it was $29,942 in 2012)
| K Space Contemporary: | $47,560 |
| Other organizations performing similar types of work: | $28,414 |
Expenses in 2013: $82,751
| K Space Contemporary: | $82,751 |
| Other organizations performing similar types of work: | $39,961 |
Income to expenses ratio in 2013: 2.2
| This organization: | 2.2 |
| Other organizations performing similar types of work: | 0.8 |
Grants share in income in 2013: 54.6%
| This organization: | 54.6% |
| Other organizations performing similar types of work: | 100.0% |
Revenue for 2013
Support schedule
| Revenue, Expenses, and Changes in Net Assets or Fund Balances | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total revenue | $45,653 | $101,003 | $100,534 |
| Contributions, gifts, grants, and similar amounts received | $15,976 | $47,508 | $54,936 |
| Program service revenue including government fees and contracts | $11,965 | $13,104 | $16,260 |
| Membership dues and assessments | $1,835 | $3,105 | $3,765 |
| Investment income | $105 | $126 | $403 |
| Gain/Loss from sale of assets other than inventory | $3,279 | $0 | $0 |
| Net income/loss from gaming and fundraising events | $11,735 | $24,190 | $15,715 |
| Gross income from gaming | $0 | $0 | $0 |
| Gross income from fundraising events | $36,157 | $49,210 | $71,573 |
| Less: direct expenses from gaming and fundraising events | $24,422 | $25,020 | $55,858 |
| Gross profit/loss from sales of inventory | $208 | $11,790 | $7,653 |
| Gross sales of inventory, less returns and allowances | $208 | $28,450 | $29,280 |
| Less: cost of goods sold | $0 | $16,660 | $21,627 |
| Other revenue | $550 | $1,180 | $1,802 |
| Total expenses | $53,742 | $78,394 | $82,751 |
| Total net assets | $5,401 | $28,337 | $46,133 |
| Excess/Deficit for the year | $-8,089 | $22,609 | $17,783 |
| Net assets or fund balances at beginning of year | $13,346 | $5,401 | $28,337 |
| Other changes in net assets or fund balances | $144 | $327 | $13 |
| Net assets or fund balances at end of year | $28,337 | $46,133 | |
| Balance Sheets | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Total assets | $5,401 | $29,942 | $47,560 |
| Total liabilities | $0 | $1,605 | $1,427 |
| Net assets or fund balances | $5,401 | $28,337 | $46,133 |
| Other Information | |||
| 2011 | 2012 | 2013 | |
|---|---|---|---|
| Did the organization engage in any significant activity not previously reported to the IRS? | No | No | |
| Were any significant changes made to the organizing or governing documents? | No | No | |
| Did the organization have unrelated business gross income of $1,000 or more during the year from business activities | No | No | No |
| Has the organization filed a Form 990-T for the year? | No | No | |
| Did the organization undergo a liquidation, dissolution, termination, or significant disposition of net assets during the year? | No | No | |
| Amount of political expenditures, direct or indirect | $0 | $0 | |
| Did the organization file Form 1120-POL for this year? | 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? | No | No | |
| Total amount involved | $0 | $0 | |
| Initiation fees and capital contributions | $0 | $0 | $0 |
| Gross receipts for public use of club facilities | $550 | $1,180 | $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 | |
| At any time during the tax year, was the organization a party to a prohibited tax shelter transaction? | No | No | |
| Reason for Public Charity Status (for 2013) | |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Number of organizations supported | 0 |
| Sum of amounts of support | $0 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2009 - 2013) | |
| 2009 - 2013 Total | |
|---|---|
| Public support | $453,086 |
| Subtotal | $476,310 |
| Gifts, grants, contributions, and membership fees received | $202,010 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $223,700 |
| Gross receipts from activities that are not an unrelated trade or business under section 513 | $50,600 |
| 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 |
| Less | $23,224 |
| Amounts received from disqualified persons | $23,224 |
| Amounts received from other than disqualified persons that exceed the greater of $5,000 or 1% of the total support | $0 |
| Total support | $477,193 |
| Public support | $476,310 |
| Subtotal | $883 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources | $883 |
| Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Net income from unrelated business activities, whether or not the business is regularly carried on | $0 |
| Other income | $0 |
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| Organizations performing similar types of work | |||||
| Id | Name | Address | State | Established | Total Income |
|---|---|---|---|---|---|
| 1 | Waco Cultural Arts Fest | 801 Washinton Avenue, Waco, TX 76701-1282 | TX | 2006-07 | $390,961 |
| 2 | Sinaca Studios | 1013 W Magnolia Ave, Fort Worth, TX 76104-4504 | TX | 2008-05 | $279,787 |
| 3 | Bastrop Fine Arts Guild | 1009 Main Street, Bastrop, TX 78602 | TX | 2007-04 | $257,558 |
| 4 | Canadian River Art Center | PO BOX 1111, Canadian, TX 79014-1111 | TX | 2014-06 | $225,773 |
| 5 | Art Conspiracy | 3824 Cedar Springs Rd, Dallas, TX 75219-4136 | TX | 2012-09 | $95,213 |
| 6 | Georgetown Art Works | 1102 S Austin Ave Suite 110-118, Georgetown, TX 78626 | TX | 2009-01 | $73,427 |
| 7 | Co-Lab Projects | 613 Allen St, Austin, TX 78702 | TX | 2014-09 | $73,126 |
| 8 | Austin Center For Photography | PO BOX 303189, Austin, TX 78703-0054 | TX | 2009-07 | $56,459 |
| 9 | Society For Arts Music Architecture And Sciences, Dallas Spark | 2704 Fordham Ct, Flower Mound, TX 75022 | TX | 2010-09 | $33,716 |
| 10 | For Love & Art | 4848 Lemmon Ave Ste 100-623, Dallas, TX 75219-1400 | TX | 2013-01 | $22,511 |
| 11 | Spanish Danzart Society | 8503 Nw Military Hwy Ste 105 134, San Antonio, TX 78231-1841 | TX | 2013-02 | $21,258 |
| 12 | Gulf Coast Woodturners Association | 11314 Sagewillow Ln, Houston, TX 77089 | TX | 2012-03 | $17,668 |
| 13 | Woodlands High School Art Trust | 6101 Research Forest Dr, The Woodlands, TX 77381-6028 | TX | 2012-06 | $8,484 |
| 14 | The Art League Of Bay City Inc | 1921 5th Street, Bay City, TX 77414 | TX | 2012-11 | $3,454 |
| 15 | South Texas Miniature Art Society | 100 N Shoreline Blvd, Crp Christi, TX 78401-2809 | TX | 2005-09 | $2,719 |
| 16 | Tps Triangle Project Space Research | 416 E Lachapelle, San Antonio, TX 78204-1947 | TX | 2005-08 | $2,563 |
| 17 | Paint Crusaders | 301 Belaire Dr, Laredo, TX 78041-2727 | TX | 2014-03 | $2,455 |
| 18 | 29 Pieces | 6327 Vickery Blvd, Dallas, TX 75214 | TX | 2010-03 | $0 |
| 19 | Alessi Photographic And Enrichment Center | PO BOX 850, Donna, TX 78537-0850 | TX | 2003-01 | $0 |
| 20 | Allen Quilters Guild | Po Box 526, Allen, TX 75013 | TX | 2007-02 | $0 |
| Number of organizations performing similar types of work | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Total | 1,528 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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