Arts & Business Council Of Miami Inc
- Assets
- $584.6k
- Revenue
- $378.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Miami, FL
- Founding
- 07/1986
- Data as of
- 06/2021
- EIN
- 59-2593330
Organization Overview
Arts & Business Council Of Miami Inc is located in Miami, FL. The organization was established in 1986. According to its NTEE Classification (A90) the organization is classified as: Arts Services, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Arts & Business Council Of Miami Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arts & Business Council Of Miami Inc 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 06/2021, Arts & Business Council Of Miami Inc generated $378.8k 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 (5.0%) each year. All expenses for the organization totaled $272.9k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.9%) 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ARTS & BUSINESS COUNCIL OF MIAMI IS LEADING THE MOVEMENT TO BUILD A SUSTAINABLE CREATIVE ECOSYSTEM THROUGH ADVANCING HIGH-IMPACT PARTNERSHIPS BETWEEN BUSINESS, ENTREPRENEURS AND THE ARTS. AS MIAMI'S ONLY ORGANIZATION THAT LEVERAGES THE ARTS FOR ECONOMIC VITALITY, ABC PROVIDES MEANINGFUL ENGAGEMENT OPPORTUNITIES WITH THE CREATIVE COMMUNITY TO INSPIRE EMPLOYEES, STIMULATE INNOVATION AND FOSTER CREATIVITY. FOR OVER 35 YEARS, ARTS BIZ HAS PLAYED A LEADING ROLE DEVELOPING PROGRAMS THAT BRING TOGETHER BUSINESS AND ARTS FOR EFFECTIVE AND MUTUALLY BENEFICIAL OUTCOMES. WE ASSIST OVER 500 ARTS GROUPS, ARTISTS AND CREATIVES THROUGH EXECUTIVE CONSULTANCIES, LEADERSHIP TRAINING, AUDIENCE DEVELOPMENT, WORKSHOPS, FORUMS, CURATED OUTREACH AND NETWORKING EVENTS. OUR SUPERPOWER IS INSPIRING AND STIMULATING THE CREATIVE AND INNOVATION ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARTS & BUSINESS COUNCIL LEADS THE MOVEMENT TO BUILD A SUSTAINABLE CULTURAL ECOSYSTEM THROUGH ADVANCING HIGH-IMPACT PARTNERSHIPS, OUTREACH AND NETWORKING OPPORTUNITIES BETWEEN BUSINESS, ENTREPRENEURS AND THE ARTS. FOR OVER 35 YEARS, THE ARTS & BUSINESS COUNCIL HAS PLAYED A LEADING ROLE DEVELOPING PROGRAMS THAT ASSIST OVER 500 ARTS GROUPS THROUGH EXECUTIVE CONSULTANCIES, LEADERSHIP TRAINING, AUDIENCE DEVELOPMENT, WORKSHOPS, FORUMS, CURATED OUTREACH AND NETWORKING. OUR ARTS CONNECTION PROJECT INCLUDES ARTS CONNECTION VOLUNTEERS, ARTS CONNECTION MONTHLY NEWSLETTER, CREATIVE HAPPY HOUR OUTREACH EVENTS (SUSPENDED DUE TO COVID), SOCIAL MEDIA CAMPAIGNS INCLUDING BUY THE ARTS FOR THE HOLIDAYS AND CULTURE CONNECTS, AND BREAKFAST WITH THE ARTS & HOSPITALITY (SUSPENDED DUE TO COVID)TO SHOWCASE ARTS AND HOSPITALITY PARTNERSHIPS. WE FEATURED A LIVELY VIRTUAL ARTS SECTION IN THE MONTHLY GUIDE TO PROMOTE THE MYRIAD OF INNOVATIVE AND INTERACTIVE ARTS OPPORTUNITIES OUR ARTS GROUPS AND ARTISTS WERE FEATURING.
VOLUNTEER LAWYERS FOR THE ARTS SERVES ARTISTS AND CREATIVES WITH ONGOING PRO-BONO SERVICES. PATENT PROBONO FL PROVIDES LEGAL CONSULTATIONS AND PRO-BONO SERVICES FOR LOW INCOME INVENTORS, ARTISTS AND ENTREPRENEURS IN FLORIDA. IN 2020-2021 OUR LEGAL SERVICES INCLUDED MATCHED LOW INCOME ARTISTS AND INVENTORS WITH ATTORNEYS FOR PRO BONO SERVICES. DURING THE PANDEMIC WE SET UP A LEGAL HOTLINE FOR THE ARTS OFFERING LEGAL ADVICE TO MORE THAN 100 ARTISTS AND ARTS PROFESSIONALS. WE HOSTED A VIRTUAL LEGAL CLINIC AND ONE VIRTUAL OFFICE HOUR STYLE LEGAL CLINIC. OUR VIRTUAL PROGRAMS REACHED MORE THAN 200 ARTISTS, INVENTORS, AND CREATIVES. DUE TO COVID. WE CONTINUED TO MATCH ATTORNEYS WITH ARTISTS AND CREATIVES AND INVENTORS PROVIDING PRO BONO LEGAL CONSULTATIONS. WE WILL CONTINUE TO PARTNER WITH UNITED STATES PATENT & TRADE OFFICE FOR PATENT PRO BONO.
MIAMI ARTS MARKETING PROJECT IS A COMPREHENSIVE PROGRAM TO BUILD ARTS AUDIENCES WITH INCREASED MEDIA, TRAINING CURATED FOR ARTS MARKETING AND VISIBILITY AND OUTREACH. MAMP PROVIDES HIGH QUALITY TRAINING TO HELP ARTS GROUPS BUILD NEW PARTNERSHIPS AND INCREASE AUDIENCES. IN 2020-2021 PIVOTED ALL THE PROGRAMS TO ZOOM AND HOSTED 14 VIRTUAL PROGRAMS. MORE THAN 700 ARTS PROFESSIONALS AND CREATIVES ATTENDED IN 2020-2021. ARTBURST MIAMI IS A MEDIA HUB FOR ARTS COVERAGE FOR THE CULTURAL COMMUNITY. OUR ARTS JOURNALISTS ARE SOME OF MIAMI'S BEST WRITERS AND ARE COVERING DANCE, MUSIC, THEATER AND VISUAL ARTS ACROSS MIAMI-DADE. WE INSPIRE READERS AND VIEWERS TO ENGAGE THE LOCAL CREATIVE COMMUNITY, LEAD CONVERSATIONS, AND CREATE THE FUTURE OF MIAMI ARTS AND CULTURE. IN 2020-2021 ARTBURST FEATURED MORE THAN 281 ARTICLES AND 71 BLOG POSTS REACHING OVER 50,000 RESIDENTS AND VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Bruney Director Ex Officio | Officer | 40 | $82,560 |
Stephen Belth Chair | OfficerTrustee | 5 | $0 |
Maria Budet Vice Chair | OfficerTrustee | 5 | $0 |
Elizabeth Coppolecchia Secretary | OfficerTrustee | 5 | $0 |
Sebastien Laboureau Chair Emeritus | OfficerTrustee | 2 | $0 |
Kyle Leverett Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $17,465 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $277,544 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,189 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $301,198 |
| Total Program Service Revenue | $74,234 |
| Investment income | $3,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $378,753 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $156,206 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $26,616 |
| Payroll taxes | $11,950 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,000 |
| Advertising and promotion | $4,027 |
| Office expenses | $4,887 |
| Information technology | $3,198 |
| Royalties | $0 |
| Occupancy | $10,140 |
| Travel | $1,253 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,672 |
| All other expenses | $0 |
| Total functional expenses | $272,906 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,637 |
| Savings and temporary cash investments | $375,116 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $800 |
| Total assets | $584,553 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $584,553 |
| Total liabilities and net assets/fund balances | $584,553 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Arts & Business Council Of Miami Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
The Miami Foundation Inc Miami, FL PURPOSE: PROGRAM SUPPORT | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Foundation For Advancement In The Arts Inc Miami, FL | $60,834,688 | $13,120,444 |
South Florida Art Center Inc Miami Beach, FL | $115,639,689 | $4,483,318 |
Serenbe Art Farm For Arts And Education Corporation Chattahoochee Hills, GA | $1,242,651 | $1,430,942 |
Hambidge Center For Creative Arts & Sciences Inc Rabun Gap, GA | $5,261,763 | $2,990,287 |
Lemoyne Art Foundation Inc Tallahassee, FL | $3,131,181 | $2,535,049 |
Kp Cares Powder Springs, GA | $0 | $619,995 |
Silence The Shame Inc Alpharetta, GA | $362,225 | $490,921 |
Boca Hrande Art Center Inc Boca Grande, FL | $512,458 | $431,397 |
Studio By The Tracks Inc Irondale, AL | $666,947 | $386,340 |
Asian Arts Center Lake Park, FL | $54,545 | $240,988 |
Georgia Lawyers For The Arts Inc Atlanta, GA | $784,151 | $531,353 |
Fren Foundation Inc Richmond Hill, GA | $17,923 | $315,342 |