Indianapolis Art Center Inc in Indianapolis, Indiana (IN)

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Indianapolis Art Center Inc
Employer Identification Number (EIN)351088735
Name of OrganizationIndianapolis Art Center Inc
Address820 E 67th St, Indianapolis, IN 46220-1139
ActivitiesFair, Industry trade shows, Other cultural or historical activities
SubsectionEducational Organization
Ruling Date11/1961
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 Period08/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$18,069,749
Amount of Income$2,966,410
Form 990 Revenue Amount$2,481,696
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: Arts Education


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Amount of income in 2012: $2,966,410 (it was $2,888,065 in 2011)
This organization: 

 $2,966,410
Other organizations performing similar types of work: 

 $315,593

Assets in 2012: $18,069,749 (it was $18,142,959 in 2011)
Indianapolis Art Center Inc: 

 $18,069,749
Other organizations performing similar types of work: 

 $379,750

Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$2,426,323
Contributions, Gifts, Grants and Other Similar Amounts$974,513
Program Service Revenue$1,269,214
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$76,350
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental loss$-15,273
Gross rents (Real / Personal)$144,757 / $0
Less: rental expenses (Real / Personal)$160,030 / $0
Rental income or (loss) (Real / Personal)$-15,273 / $0
Net loss from sales of assets other than inventory$-19,076
Gross amount from sales of assets other than inventory (Securities / Other)$264,010 / $0
Less: cost or other basis and sales expenses (Securities / Other)$151,918 / $131,168
Gain or (loss) (Securities / Other)$112,092 / $-131,168
Net income from fundraising events$51,641
Gross income from fundraising events$66,212
Less: direct expenses$14,571
Net income from gaming activities$0
Net income from sales of inventory$18,774
Gross sales of inventory, less returns and allowances$22,829
Less: cost of goods sold$4,055
Miscellaneous Revenue$70,180
Statement of Functional Expenses (for 2011)
Total functional expenses$2,779,299
Compensation of current officers, directors, trustees, and key employees$150,790
Other salaries and wages$955,775
Payroll taxes$80,920
Professional fundraising services$0
Other$1,591,814
Balance Sheet (for 2011)
Total assets$18,142,959
Total liabilities$671,073
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$253,223
Unsecured notes and loans payable to unrelated third parties$0
Other$417,850
Total net assets or fund balances$17,471,886
Retained earnings, endowment, accumulated income, or other funds$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$19,954,220
Gifts, grants, contributions, and membership fees received$11,702,051
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$7,070,685
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$948,323
Other$233,161
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$21,640$28,834$7,194
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$0$0$0
Unrelated debt-financed income$144,001$25,933$11,533
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$7,240$2,901$4,339
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$700
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$700
Unrelated business taxable income$7,894
Unrelated business taxable income before net operating loss deduction$7,894
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$7,894
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Oregon College Of Art And Craft8245 Sw Barnes Rd, Portland, OR 97225-6349OR1952-05$6,321,028
2Flint Institute Of Arts1120 E Kearsley St, Flint, MI 48503-1915MI1942-10$16,464,397
3Vero Beach Museum Of Art Inc3001 Riverside Park Dr, Vero Beach, FL 32963-1874FL1981-08$5,328,320
4Indianapolis Art Center Inc820 E 67th St, Indianapolis, IN 46220-1139IN1961-11$2,966,410
5Centrum FoundationPO BOX 1158, Port Townsend, WA 98368-0958WA1974-06$2,294,559
6Providence Art Club11 Thomas St, Providence, RI 02903-1314RI1962-09$2,143,963
7Northern Clay Center2424 E Franklin Ave, Minneapolis, MN 55406-1027MN1993-10$1,898,731
8Minnetonka Center For The Arts2240 Northshore Dr, Wayzata, MN 55391-9347MN1954-06$1,295,417
9Kimball Art CenterPO BOX 1478, Park City, UT 84060-1478UT1976-08$1,253,697
10Newark School Of The Arts Inc, Newark Community School Of The Arts89 Lincoln Park, Newark, NJ 07102-2388NJ1969-02$1,211,350
11Delaware Center For Contemporary Arts200 S Madison St, Wilmington, DE 19801-5110DE1979-12$1,131,594
12Evanston Art Center And Market2603 Sheridan Road, Evanston, IL 60201-1776IL1949-12$1,092,130
13Hoyt Center For The Arts124 E Leasure Ave, New Castle, PA 16101-2327PA1970-04$970,312
14Creative Arts Workshop Inc80 Audubon St, New Haven, CT 06510-1206CT1964-10$953,362
15Artists Association Of NantucketPO BOX 1104, Nantucket, MA 02554-1104MA1952-01$920,637
16Multicultural Education And Counseling Through The Arts, Meca1900 Kane St, Houston, TX 77007-7611TX1979-07$882,317
17Artspace Inc201 E Davie St Ste 101, Raleigh, NC 27601-1830NC1982-03$781,237
18Fort Smith Art Center IncPO BOX 1257, Fort Smith, AR 72902-1257AR1959-11$751,747
19Nevada School Of The Arts401 S 4th St Ste 125, Las Vegas, NV 89101-6210NV1977-09$698,438
20Marion Community School Of The Arts Inc305 S Adams St, Marion, IN 46952-4012IN1996-03$448,310
Number of organizations performing similar types of work
Alabama2
Arkansas1
Arizona4
California7
Colorado1
Connecticut3
District of Columbia3
Delaware1
Florida9
Georgia1
Hawaii1
Iowa1
Idaho1
Illinois5
Indiana4
Kentucky1
Massachusetts11
Maryland2
Maine1
Michigan3
Minnesota4
Missouri1
Montana1
North Carolina1
New Jersey4
Nevada2
New York13
Ohio4
Oklahoma2
Oregon2
Pennsylvania6
Rhode Island2
South Dakota2
Texas5
Utah1
Virginia4
Vermont2
Washington3
Wisconsin2
West Virginia1
Wyoming1
International1
Total126

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