Island Art Association
- Assets
- $701.4k
- Revenue
- $112.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Fernandina Beach, FL
- Founding
- 07/1998
- Data as of
- 11/2020
- EIN
- 59-2353054
Organization Overview
Island Art Association is located in Fernandina Beach, FL. The organization was established in 1998. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Art Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 11/2020, Island Art Association generated $112.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.2%) each year. All expenses for the organization totaled $128.3k during the year ending 11/2020. As we would expect to see with falling revenues, expenses have declined by (1.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ART EDUCATION, APPRECIATION AND DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPOSE THE POPULATION OF NASSAU COUNTY FLORIDA TO ART, ART CLASSES AND ART EVENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Abbott Co Third VP | Officer | $0 | |
Gwen Cowart Co President | Officer | $0 | |
Mark Bennett Co First VP | Officer | $0 | |
Pipar West Co First VP | Officer | $0 | |
Brandy Sandberg Co Secretary | Officer | $0 | |
Susan Henderson Co Treasurer | Officer | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $30,363 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,060 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $62,401 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $112,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,275 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $53,666 |
| Advertising and promotion | $4,458 |
| Office expenses | $1,619 |
| Information technology | $697 |
| Royalties | $4,865 |
| Occupancy | $31,044 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $577 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,091 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,088 |
| All other expenses | $0 |
| Total functional expenses | $128,276 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $139,755 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,283 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $875 |
| Total assets | $701,374 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $57,778 |
| Other liabilities | $0 |
| Total liabilities | $57,778 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $643,596 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Island Art Association has recieved totaling $10,439.
| Awarding Organization | Amount |
|---|---|
Greene Family Foundation Inc Fernandina Beach, FL PURPOSE: SUPPORT LOCAL ART ASSOCIATION. | $10,439 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Professional Photographers Of America Inc Atlanta, GA | $48,960,545 | $12,325,076 |
Georgia Association Of Manufacturers Inc Atlanta, GA | $2,700,140 | $2,292,406 |
Two Red Roses Foundation Inc St Petersburg, FL | $81,826,203 | $5,214,247 |
The Armory Art Center Inc West Palm Beach, FL | $4,340,445 | $2,084,067 |
Forward Arts Foundation Inc Atlanta, GA | $5,240,641 | $1,648,904 |
Lighthouse Artcenter Inc Tequesta, FL | $3,825,019 | $2,482,262 |
Robert Craft Igor Stravinsky Foundation boca raton, FL | $11,119,320 | $752,022 |
The Studios Of Key West Inc Key West, FL | $13,984,404 | $3,906,460 |
Palm Beach Photographic Centre Inc West Palm Beach, FL | $1,110,051 | $866,676 |
Bakehouse Art Complex Inc Miami, FL | $1,346,627 | $1,198,887 |
Ann Norton Sculpture Gardens Inc West Palm Beach, FL | $4,892,273 | $1,857,308 |
National Press Photographers Association Inc Athens, GA | $607,292 | $735,008 |