Inuit Art Foundation
- Assets
- $1.4m
- Revenue
- $2.0m
- Investments
- $454.3k
- Employees
- 0
- Location
- Founding
- 09/1994
- Data as of
- 03/2023
- EIN
- 98-0140282
Organization Overview
Inuit Art Foundation is located in null. The organization was established in 1994. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, 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. Inuit Art Foundation 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 03/2023, Inuit Art Foundation generated $2.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $2.4m during the year ending 03/2023. While expenses have increased by 7.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FORMED TO PROVIDE ADVOCACY ON BEHALF OF INUIT ARTISTS AND TO ENHANCE THE IMAGE AND VISIBILITY OF INUIT ART IN CANADA AND ABROAD. THE FOUNDATION ALSO MADE ITSELF AVAILABLE AS A RESOURCE TO THE INUIT ART COMMUNITY AND SUPPORTS MEASURES THAT ENRICH THE ENVIRONMENT IN WHICH INUIT ARTISTS CREATE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE AN OPPORTUNITY TO PROMOTE ART WHILE GENERATING FUNDS TO SUPPORT ARTIST PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Igloliorte President/director | OfficerTrustee | 2 | $0 |
Michael Massie Director | Trustee | 1 | $0 |
Ryan Rice Director | Trustee | 1 | $0 |
Reneltta Arluk Vp/director | Trustee | 1 | $0 |
Goretti Kakuktinniq Director | Trustee | 1 | $0 |
Linda Grussani Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,909,135 |
| All other contributions, gifts, grants, and similar amounts not included above | -$138,780 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,770,355 |
| Total Program Service Revenue | $168,578 |
| Investment income | $24,237 |
| 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 | $1,963,170 |
| 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 | $1,046,784 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,140 |
| Fees for services: Accounting | $55,728 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $16,620 |
| Office expenses | $78,566 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,490 |
| Travel | $175,886 |
| 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 | $0 |
| All other expenses | $7,996 |
| Total functional expenses | $2,377,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $613,053 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $305,148 |
| 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 | $25,112 |
| Net Land, buildings, and equipment | $22,109 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $454,296 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,419,718 |
| Accounts payable and accrued expenses | $259,582 |
| 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 | $259,582 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,419,718 |
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