Civic Intelligence

International Folk Art Alliance Inc

EIN 35-2285824 • 501(c)3 • Santa Fe, NM

View Organization Page

Profile

Create economic opportunities for and with folk artists worldwide who celebrate and preserve folk art traditions. We envision a world that values the dignity and humanity of the handmade, honors timeless cultural traditions, and supports the work of folk artists serving as entrepreneurs and catalysts for positive social change. To augment this pursuit, the organization moved to a larger headquarters, investing in tenant improvements as the first phase of a campaign to own the building outright.

620 Cerrillos RoadSanta Fe, NM 87505

www.folkartmarket.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

28th percentile

0.01x

Higher debt load relative to assets than 28% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

21st percentile

0.03x

Higher debt load relative to revenue than 21% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Source year 2024

Net Margin

47th percentile

4.8%

Higher net margin than 47% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

72nd percentile

$180,966

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 6.0% of source-year revenue.

NTEE A • $5M-$10M nonprofits • Source year 2024

Asset Growth

55th percentile

5.1%

Faster asset growth than 55% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

64th percentile

25%

Faster revenue growth than 64% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets28th percentile

Assets

Up

$8,145,589

Up $393,628 (+5.1%) from 2023

Liabilities

Down

$84,220

Down $8,515 (-9.2%) from 2023

Net Assets

Up

$8,061,369

Up $402,143 (+5.3%) from 2023

Operations
Liabilities / Revenue21st percentileNet Margin47th percentile

Revenue

Up

$3,009,886

Up $603,185 (+25%) from 2023

Expenses

Up

$2,864,468

Up $502,380 (+21%) from 2023

Net Income

Up

$145,418

Up $100,805 (+226%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth55th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2010: $910,307Liabilities 2010: $148,997Net Assets 2010: $761,3102010Assets 2011: $2,325,980Liabilities 2011: $112,968Net Assets 2011: $2,213,0122011Assets 2012: $4,016,733Liabilities 2012: $78,112Net Assets 2012: $3,938,6212012Assets 2014: $3,800,044Liabilities 2014: $69,358Net Assets 2014: $3,730,6862014Assets 2015: $3,405,038Liabilities 2015: $111,160Net Assets 2015: $3,293,8782015Assets 2016: $3,163,462Liabilities 2016: $86,813Net Assets 2016: $3,076,6492016Assets 2017: $3,652,788Liabilities 2017: $530,645Net Assets 2017: $3,122,1432017Assets 2019: $4,267,375Liabilities 2019: $171,924Net Assets 2019: $4,095,4512019Assets 2020: $5,340,983Liabilities 2020: $264,398Net Assets 2020: $5,076,5852020Assets 2021: $6,076,906Liabilities 2021: $225,397Net Assets 2021: $5,851,5092021Assets 2022: $7,523,511Liabilities 2022: $136,503Net Assets 2022: $7,387,0082022Assets 2023: $7,751,961Liabilities 2023: $92,735Net Assets 2023: $7,659,2262023Assets 2024: $8,145,589Liabilities 2024: $84,220Net Assets 2024: $8,061,3692024

Highlighted filing

2024

Assets$8,145,589
Liabilities$84,220
Net Assets$8,061,369
Open 2024 Filing

Operations Trend

Revenue Growth64th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2010: $1,769,0392010Expenses 2011: $2,028,5202011Expenses 2012: $2,343,0572012Revenue 2014: $2,447,985Expenses 2014: $2,821,089Net Income 2014: -$373,1042014Revenue 2015: $2,544,564Expenses 2015: $3,237,351Net Income 2015: -$692,7872015Revenue 2016: $2,764,779Expenses 2016: $2,985,836Net Income 2016: -$221,0572016Revenue 2017: $3,399,718Expenses 2017: $3,349,957Net Income 2017: $49,7612017Revenue 2019: $3,905,488Expenses 2019: $3,184,245Net Income 2019: $721,2432019Revenue 2020: $2,074,127Expenses 2020: $1,221,678Net Income 2020: $852,4492020Revenue 2021: $2,369,984Expenses 2021: $1,665,559Net Income 2021: $704,4252021Revenue 2022: $3,982,562Expenses 2022: $2,183,465Net Income 2022: $1,799,0972022Revenue 2023: $2,406,701Expenses 2023: $2,362,088Net Income 2023: $44,6132023Revenue 2024: $3,009,886Expenses 2024: $2,864,468Net Income 2024: $145,4182024

Highlighted filing

2024

Revenue$3,009,886
Expenses$2,864,468
Net Income$145,418
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,145,589
Liabilities
$84,220
Net assets
$8,061,369
Revenue
$3,009,886
Expenses
$2,864,468
Net income
$145,418
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.15$0.08$8.06$3.01$2.86$0.15
2023Detailed filing. Detailed filing data is available for this year.$7.75$0.09$7.66$2.41$2.36$0.04
2022Detailed filing. Detailed filing data is available for this year.$7.52$0.14$7.39$3.98$2.18$1.80
2021Detailed filing. Detailed filing data is available for this year.$6.08$0.23$5.85$2.37$1.67$0.70
2020Detailed filing. Detailed filing data is available for this year.$5.34$0.26$5.08$2.07$1.22$0.85
2019Detailed filing. Detailed filing data is available for this year.$4.27$0.17$4.10$3.91$3.18$0.72
2017Detailed filing. Detailed filing data is available for this year.$3.65$0.53$3.12$3.40$3.35$0.05
2016Detailed filing. Detailed filing data is available for this year.$3.16$0.09$3.08$2.76$2.99$0.22
2015Detailed filing. Detailed filing data is available for this year.$3.41$0.11$3.29$2.54$3.24$0.69
2014Detailed filing. Detailed filing data is available for this year.$3.80$0.07$3.73$2.45$2.82$0.37
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.02$0.08$3.94$2.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.33$0.11$2.21$2.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.15$0.76$1.77
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 12, 2025
Return Version
2024v5.2
Gross Receipts
$3,378,676
Mission and Program Overview

Mission

Charitable and educational purposes including fostering economic and cultural sustainability for folk artists and folk art worldwide and creating intercultural exchange opportunities uniting people of the world.

Create economic opportunities for and with folk artists worldwide who celebrate and preserve folk art traditions. We envision a world that values the dignity and humanity of the handmade, honors timeless cultural traditions, and supports the work of folk artists serving as entrepreneurs and catalysts for positive social change. To augment this pursuit, the organization purchased the headquarters building.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,896,133$3,324,337▲ $428,204
Land, Buildings, and Equipment, Net$3,364,887$3,279,265▼ $85,622
Cash and Non-Interest-Bearing Accounts$1,000,714$1,040,459▲ $39,745
Inventories for Sale or Use$176,660$109,773▼ $66,887
Pledges and Grants Receivable$105,786$96,315▼ $9,471
Prepaid Expenses and Deferred Charges$23,029$26,833▲ $3,804
Total Assets$7,751,961$8,145,589▲ $393,628
Other Assets Total$184,752$268,607▲ $83,855
Liabilities
Accounts Payable and Accrued Expenses$40,557$73,521▲ $32,964
Other Liabilities$52,178$10,699▼ $41,479
Total Liabilities$92,735$84,220▼ $8,515
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,939,714$6,180,670▲ $240,956
Net Assets With Donor Restrictions$1,719,512$1,880,699▲ $161,187
Total Net Assets Fund Balance$7,659,226$8,061,369▲ $402,143
Total Liabilities and Net Assets / Fund Balance$7,751,961$8,145,589▲ $393,628

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,289,791$94,664$1,384,455
Leasehold Improvements$875,774$395,643$1,271,417
Land$1,015,545-$1,015,545
Equipment$98,155$457,037$555,192

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$3,184,528$60,000▲ $371,556-$3,616,084
2023$2,898,886-▲ $345,642$60,000$3,184,528
2022$1,965,764$1,158,845▼ $225,723-$2,898,886
2021$1,863,517-▲ $102,247-$1,965,764
2020$1,513,783$500,000▲ $89,339$239,605$1,863,517
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Stacey EdgarExecutive DirectorFT$180,000$966$180,966

Board Members and Trustees

NameTitle
Hank ColemanChair
Helena RibeVice Chair
Amanda AlexanderDirector
Anne ChognardDirector
Antonio LopezDirector
Ardith EicherDirector
Betty HudsonDirector
Bonnie BennettDirector
Cathy AllenDirector
Charlotte WhitmoreDirector
Courtney TaylorDirector
Devendra ContractorDirector
Elaine ColeDirector
Gurmeet KaurDirector
Judith PelhamDirector
Karen DomeniciDirector
Lisa AdelmanDirector
Lisa AhmadDirector
Maggie Hanson-museDirector
Makenzie MuellerDirector
Marty BraniffDirector
Mike MullinsDirector
Philip FimmanoDirector
Rodman PrimackDirector
Sarah HorowitzDirector
Suzanne SuggDirector
Eric MindlingSecretary
Nancy BernTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,722,603
Program Service Revenue
$1,140,405
Investment Income
$150,580
Other Revenue
$-3,702
All Other Contributions
$1,517,705
Change in Net Assets
$145,418

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table0$43,757Selling Price & Comp
Securities Publicly Traded5$40,516Average Stock Value
Total Noncash Contributions5$84,273-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,998,350
Revenue Not Reported on Financial Statements
$11,536
Revenue Not Reported on Form 990
$576,869
Total Revenue per Audited Statements
$3,575,219
Total Revenue per Form 990
$3,009,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,924,257
Salaries, Compensation, and Employee Benefits$940,211
Total Fundraising Expense$377,539
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$457,644$105,414$105,207$668,265
Fees for Services Other$211,335$68,309$25,413$305,057
Current Officers, Directors, Trustees, and Key Employees$68,768$50,670$61,528$180,966
Depreciation Depletion$99,825$16,957$19,196$135,978
Occupancy$108,792$7,762$8,234$124,788
Information Technology$94,426$4,287$8,898$107,611
Fees for Services Accounting$52,448$17,247$4,554$74,249
Payroll Taxes$39,419$11,486$12,220$63,125
Other Expenses$351$9,136$11,566$21,053
Other Employee Benefits$14,520$1,529$954$17,003
Insurance$12,953$1,189$892$15,034
Fees for Service Investment Mgmnt Fees-$11,536-$11,536
Pension Plan Contributions$6,777$1,974$2,101$10,852
Fees for Services Legal$4,820$1,585$419$6,824
Total Functional Expenses$2,173,170$313,759$377,539$2,864,468

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$3,173,076
Total Expenses per Form 990$2,864,468
Expenses per Audited Statements$2,852,932
Expenses Not Reported on Form 990$320,144
Expenses Not Reported on Financial Statements$11,536
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$10,699
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

“All executive committee members are also members of the full board of directors. Members include: chair, vice chair, treasurer, secretary, and 4 non-titled members at large. A subset of this group are given check signing authority.”

Form 990, Part VI, Section B, Line 11B

“The audit committee reviews the full 990 and recommends approval to the finance committee and executive committee. After these approvals, the public disclosure copy is e-mailed to the board for their review. The board is advised as to how they could review the form 990 at their will prior to the filing date. After the board members have reviewed the return, the tax preparer is notified that the form 990 can be finalized and filed with the irs.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is evaluated as new business relationships and situations arise. Board trustees sign a compliance agreement form annually.”

Form 990, Part VI, Section B, Line 15

“Organization uses three data sources - local, regional and national salary surveys of non-profits in related sectors of arts, culture and education - to arrive at comparable compensation levels for its staff. Ed's salary is reviewed by executive committee annually as part of ed's evaluation process. The process described here was last completed in 2024.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
International Folk Art Alliance Inc
EIN
35-2285824
Phone
5059927600
Address
620 CERRILLOS ROAD, SANTA FE, NM 87505
Doing Business As
Ifam

Signing Officer

Name
Helena Ribe
Title
Chair
Phone
5059927600
Signed
2025-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Francis Coleman
Formed
2006
Legal Domicile
Nm
Voting Board Members
28
Independent Board Members
28
Employees
14
Volunteers
1,400

Preparer

Firm
Cliftonlarsonallen Llp
Address
6501 AMERICAS PARKWAY NE SUITE 500, ALBUQUERQUE, NM 87110
Preparer
Jessica Locker CPA
Phone
5058428290
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

“The organization has discontinued the annual operation of the ifam collection at dallas market center.”

Form 990, Part IX, Line 11G

“Consultants & contractors: program service expenses 211,335. Management and general expenses 68,309. Fundraising expenses 25,413. Total expenses 305,057.”

Form 990, Part XII, Line 2C

“The audit committee assumes responsibility for oversight of the audit of its financial statements and the selection of an independent accountant. This process has not changed from the prior year.”

Financial Statement Notes

PART V, LINE 4:

“The organization's endowment consists of two individual funds established collectively as a quasi-endowment fund, a fund designated by board of directors to function as a quasi-endowment, and a donor-restricted fund. The quasi-endowment includes funds contributed by nance and ramon lopez, and carole and edd stepp, as well as funds designated by the board of directors to function as an endowment. The donor-restricted endowment fund is in its thirteenth year of existence.”

PART X, LINE 2:

“The organization applies the provisions of financial accounting standards board (fasb)accounting standards codification (asc) 740, income taxes. Fasb asc 740 provides detailed guidance for the financial statement recognition, measurement, and disclosure of uncertain tax positions in an organization's financial statements. Income tax positions must meet a more-likely-than-not recognition threshold to be recognized. The organization's policy is to classify income tax penalties and interest as miscellaneous expense. During the years ended december 31, 2024, and 2023, the organization recognized no income tax penalties or interest. As of december 31, 2024, and 2023, management does not believe the organization has any uncertain tax positions that would require financial statement recognition, measurement, or disclosure under fasb asc 740.”

Raw XML AppendixShowing 400 of 744 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION PURCHASED THE HEADQUARTERS BUILDING.
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IRS990/Form990PartVIISectionAGrp/PersonNm9MARTY BRANIFF
IRS990/Form990PartVIISectionAGrp/PersonNm10ANNE CHOGNARD
IRS990/Form990PartVIISectionAGrp/PersonNm11ELAINE COLE
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IRS990/Form990PartVIISectionAGrp/PersonNm14ARDITH EICHER
IRS990/Form990PartVIISectionAGrp/PersonNm15PHILIP FIMMANO
IRS990/Form990PartVIISectionAGrp/PersonNm16MAGGIE HANSON-MUSE
IRS990/Form990PartVIISectionAGrp/PersonNm17SARAH HOROWITZ
IRS990/Form990PartVIISectionAGrp/PersonNm18BETTY HUDSON
IRS990/Form990PartVIISectionAGrp/PersonNm19GURMEET KAUR
IRS990/Form990PartVIISectionAGrp/PersonNm20ANTONIO LOPEZ
IRS990/Form990PartVIISectionAGrp/PersonNm21MAKENZIE MUELLER
IRS990/Form990PartVIISectionAGrp/PersonNm22MIKE MULLINS
IRS990/Form990PartVIISectionAGrp/PersonNm23JUDITH PELHAM
IRS990/Form990PartVIISectionAGrp/PersonNm24RODMAN PRIMACK
IRS990/Form990PartVIISectionAGrp/PersonNm25SUZANNE SUGG
IRS990/Form990PartVIISectionAGrp/PersonNm26COURTNEY TAYLOR
IRS990/Form990PartVIISectionAGrp/PersonNm27CHARLOTTE WHITMORE
IRS990/Form990PartVIISectionAGrp/PersonNm28STACEY EDGAR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28EXECUTIVE DIRECTOR
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IRS990/MissionDesc0CREATE ECONOMIC OPPORTUNITIES FOR AND WITH FOLK ARTISTS WORLDWIDE WHO CELEBRATE AND PRESERVE FOLK ART TRADITIONS. WE ENVISION A WORLD THAT VALUES THE DIGNITY AND HUMANITY OF THE HANDMADE, HONORS TIMELESS CULTURAL TRADITIONS, AND SUPPORTS THE WORK OF FOLK ARTISTS SERVING AS ENTREPRENEURS AND CATALYSTS FOR POSITIVE SOCIAL CHANGE. TO AUGMENT THIS PURSUIT, THE ORGANIZATION MOVED TO A LARGER HEADQUARTERS, INVESTING IN TENANT IMPROVEMENTS AS THE FIRST PHASE OF A CAMPAIGN TO OWN THE BUILDING OUTRIGHT.
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IRS990/OtherExpensesGrp/Desc1BANKING
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IRS990/OtherExpensesGrp/ProgramServicesAmt158907
IRS990/OtherExpensesGrp/ProgramServicesAmt240612

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