Iowa Art Works Inc, F K A Ambroz Art Advisory Board Inc in Cedar Rapids, Iowa (IA)

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Iowa Art Works Inc, F K A Ambroz Art Advisory Board Inc
Employer Identification Number (EIN)421112539
Name of OrganizationIowa Art Works Inc
Secondary NameF K A Ambroz Art Advisory Board Inc
Address329 10th Ave Se Ste 117, Cedar Rapids, IA 52401-2339
ActivitiesArt exhibit, Book, gift or supply store
SubsectionEducational Organization
Ruling Date02/1979
DeductibilityContributions are deductible
FoundationOrganization 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
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period12/2012
Assets$100,000 to $499,999
Income$100,000 to $499,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$118,417
Amount of Income$193,896
Form 990 Revenue Amount$170,224


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Financial snapshot ($)

Revenue for 2011

Support schedule

Revenue, Expenses, and Changes in Net Assets or Fund Balances (for 2011)
Total revenue$143,688
Contributions, gifts, grants, and similar amounts received$40,532
Program service revenue including government fees and contracts$78,755
Membership dues and assessments$3,450
Investment income$259
Gain from sale of assets other than inventory$0
Net income from gaming and fundraising events$7,333
Gross income from gaming$0
Gross income from fundraising events$26,099
Less: direct expenses from gaming and fundraising events$18,766
Gross profit from sales of inventory$13,359
Gross sales of inventory, less returns and allowances$26,616
Less: cost of goods sold$13,257
Other revenue$0
Total expenses$130,265
Total net assets$90,261
Excess for the year$13,423
Net assets or fund balances at beginning of year$76,941
Other changes in net assets or fund balances$-103
Balance Sheets (for 2011)
Total assets$97,488
Total liabilities$7,227
Net assets or fund balances$90,261
Other Information (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year from business activitiesNo
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
Reason for Public Charity Status (for 2011)
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
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$444,374
Gifts, grants, contributions, and membership fees received$220,112
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$213,317
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
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$1,923
Other$9,022
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