Civic Intelligence

Faena Arts Inc

990 • Fiscal year 2023 • EIN 47-1636322

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 25, 2024

3201 Collins AveMiami Beach, FL 33140

(305) 904-4058

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

89th percentile

0.69x

Higher debt load relative to assets than 89% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.22x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

15th percentile

-20%

Higher net margin than 15% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

85th percentile

$162,800

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 12.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

1st percentile

-60%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

31st percentile

-5.0%

Faster revenue growth than 31% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$414,356

Down $619,185 (-60%) from 2022

Net Assets

Down

$130,086

Down $256,263 (-66%) from 2022

Liabilities

Down

$284,270

Down $362,922 (-56%) from 2022

Revenue

Down

$1,266,940

Down $66,612 (-5.0%) from 2022

Expenses

Down

$1,523,203

Down $101,087 (-6.2%) from 2022

Net Income

Up

-$256,263

Up $34,475 (+12%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0-$500KAssets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014Assets 2015: $736,864Liabilities 2015: $80,279Net Assets 2015: $656,5852015Assets 2016: $449,978Liabilities 2016: $416,235Net Assets 2016: $33,7432016Assets 2017: $191,979Liabilities 2017: $138,521Net Assets 2017: $53,4582017Assets 2018: $65,420Liabilities 2018: $378,583Net Assets 2018: -$313,1632018Assets 2019: $172,895Liabilities 2019: $321,605Net Assets 2019: -$148,7102019Assets 2020: $104,159Liabilities 2020: $218,875Net Assets 2020: -$114,7162020Assets 2021: $923,793Liabilities 2021: $246,706Net Assets 2021: $677,0872021Assets 2022: $1,033,541Liabilities 2022: $647,192Net Assets 2022: $386,3492022Assets 2023: $414,356Liabilities 2023: $284,270Net Assets 2023: $130,0862023Assets 2024: $890,890Liabilities 2024: $444,043Net Assets 2024: $446,8472024

Highlighted filing

2023

Assets$414,356
Liabilities$284,270
Net Assets$130,086

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $1,620,923Expenses 2015: $964,338Net Income 2015: $656,5852015Revenue 2016: $2,031,126Expenses 2016: $2,653,968Net Income 2016: -$622,8422016Revenue 2017: $597,177Expenses 2017: $577,462Net Income 2017: $19,7152017Revenue 2018: $633,819Expenses 2018: $1,000,440Net Income 2018: -$366,6212018Revenue 2019: $1,156,417Expenses 2019: $991,964Net Income 2019: $164,4532019Revenue 2020: $313,280Expenses 2020: $384,088Net Income 2020: -$70,8082020Revenue 2021: $1,364,663Expenses 2021: $572,860Net Income 2021: $791,8032021Revenue 2022: $1,333,552Expenses 2022: $1,624,290Net Income 2022: -$290,7382022Revenue 2023: $1,266,940Expenses 2023: $1,523,203Net Income 2023: -$256,2632023Revenue 2024: $1,768,213Expenses 2024: $1,451,452Net Income 2024: $316,7612024

Highlighted filing

2023

Revenue$1,266,940
Expenses$1,523,203
Net Income-$256,263
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 25, 2024
Return Version
2023v5.1
Gross Receipts
$1,612,295
Mission and Program Overview

Mission

Arts organization dedicated to encouraging, commissioning and producing ambitious public arts projects, reaching new audiences and expanding awreness through contemporary art on the local level of miami beach, the state of florida, nationwide and abroad.

Encouraging, commissioning and producing ambitious public arts projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$245,165$209,533▼ $35,632
Accounts Receivable$758,376$163,417▼ $594,959
Intangible Assets$30,000$30,000→ $0
Prepaid Expenses and Deferred Charges-$11,406-
Total Assets$1,033,541$414,356▼ $619,185
Liabilities
Accounts Payable and Accrued Expenses$647,192$284,270▼ $362,922
Total Liabilities$647,192$284,270▼ $362,922
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$386,349$130,086▼ $256,263
Total Net Assets Fund Balance$386,349$130,086▼ $256,263
Total Liabilities and Net Assets / Fund Balance$1,033,541$414,356▼ $619,185
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nicole ComottiExecutive DirectorFT$162,800$162,800
Jose SotoControllerFT$60,000$60,000

Board Members and Trustees

NameTitle
German De ElizaldePresident
Lauren CramerSecretary
Neisen O KasdinTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Comotti LLCConstruction8947 EMERSON AVENUE, Surfside, FL 33154$162,800
Revenue and Support

Revenue Composition

Contributions and Grants
$1,612,295
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$-345,355
All Other Contributions
$1,173,812
Change in Net Assets
$-256,263

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,266,940
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$345,355
Total Revenue per Audited Statements
$1,612,295
Total Revenue per Form 990
$1,266,940
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,051,453
Salaries, Compensation, and Employee Benefits$242,800
Professional Fundraising Fees$228,950
Total Fundraising Expense$228,950
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$666,185--$666,185
Current Officers, Directors, Trustees, and Key Employees-$242,800-$242,800
Fees for Services Professional Fundraising--$228,950$228,950
Advertising-$98,739-$98,739
Office Expenses-$67,250-$67,250
Travel-$19,352-$19,352
Fees for Services Legal-$18,980-$18,980
Insurance-$12,656-$12,656
Fees for Services Accounting-$9,500-$9,500
Other Expenses-$7,659-$7,659
All Other Expenses-$486-$486
Total Functional Expenses$666,185$628,068$228,950$1,523,203

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,868,558
Expenses per Audited Statements$1,523,203
Total Expenses per Form 990$1,523,203
Expenses Not Reported on Form 990$345,355
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$345,355
Professional Fundraising Fees$228,950
Fundraising Gross Income$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dome Abasel Event$438,483-$345,355-
Total Events$438,483-$345,355$-345,355
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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 B, Line 11B

Process used to review the form 990 faena arts inc's form 990 was prepared by faena arts inc's external accountant, frendel brown & weissman llp, in consultation with faena arts inc's board of directors. The completed version of the form 990 was provided to the board for its review and comment. Upon approval by the board, the form 990 was finalized and filed with the irs.

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

Compliance with conflict of interest policy the board of directors oversees the submission of the annual disclosures by the directors, officers, trustees, and key employees, reviews the disclosures to determine whether there are any conflicts of interest, and monitors overall compliance with the policy. If any actual or potential conflict were to arise, legal counsel would work with the board to facilitate the fairness of the transaction, to ensure the recusal of any interested parties from any deliberations, and otherwise monitor compliance with the policy.

Form 990, Part VI, Section B, Line 15

Process for determining compensation the directors of faena arts inc. Volunteer their services and receive no compensation from faena arts inc. All faena arts inc officer, director, trustee, or key employee salary changes are approved by the board. The board periodically reviews whether compensation arrangements and benefits are reasonable, based on competent survey information, and the result of arm's length bargaining. When conducting reviews, the organization may, but no need to, use outside advisors. If outside experts are used, their use shall not relieve the governing board of its responsibility for ensuring periodic reviews are conducted.

Form 990, Part VI, Section C, Line 19

Process for making documents available to the public faena arts inc makes its governing documents, conflict of interest policy and financial statements available to the public on request.

Filing and Contact Details

Filer

Filer Name
Faena Arts Inc
EIN
47-1636322
Phone
3059044058
Address
3201 COLLINS AVE, MIAMI BEACH, FL 33140

Signing Officer

Name
Nicole Comotti
Title
COO
Phone
2128679630
Signed
2024-09-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicole Comotti
Formed
2014
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
FRENDEL BROWN & WEISSMAN LLP CPA'S
Address
655 THIRD AVE - SUITE 1400, NEW YORK, NY 10017
Preparer
Gary Katzen
Phone
2128679630
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Contractors - program related: program service expenses 666,185. Management and general expenses 0. Fundraising expenses 0. Total expenses 666,185.

Form 990, Part XII, Line 2C

The process for the selection and supervision of the organization's independent auditor has remained consistent with the prior year.

Financial Statement Notes

PART X, LINE 2:

The organization is a not-for-profit organization that is exempt from federal income taxes under section 501 (c)(3) of the internal revenue code. Under these provisions, no tax is paid on income received as long as the organizations maintains its tax exempt status. Accordingly, no provision for income taxes is provided in the accompanying financial statements. Although the orgnization is exempt from income tax, it may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded under the code. As of december 31, 2023, the organization determined that there are no significant, uncertain tax positions within its financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Direct expenses - fundraising event 345,355.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses 345,355.

Raw XML AppendixShowing 400 of 424 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0647192
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0284270
IRS990/AccountsReceivableGrp/BOYAmt0758376
IRS990/AccountsReceivableGrp/EOYAmt0163417
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ENCOURAGING, COMMISSIONING AND PRODUCING AMBITIOUS PUBLIC ARTS PROJECTS.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt098739
IRS990/AdvertisingGrp/TotalAmt098739
IRS990/AllOtherContributionsAmt01173812
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt0486
IRS990/AllOtherExpensesGrp/TotalAmt0486
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0FAENA ARTS INC
IRS990/BooksInCareOfDetail/PhoneNum02128679630
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03300 COLLINS AVE
IRS990/BooksInCareOfDetail/USAddress/CityNm0MIAMI BEACH
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0FL
IRS990/BooksInCareOfDetail/USAddress/ZIPCd033140
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt0245165
IRS990/CashNonInterestBearingGrp/EOYAmt0209533
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt0242800
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0242800
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd01
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/ContractorCompensationGrp/CompensationAmt0162800
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt08947 EMERSON AVENUE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0SURFSIDE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0FL
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd033154
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0COMOTTI LLC
IRS990/ContractorCompensationGrp/ServicesDesc0CONSTRUCTION
IRS990/ContriRptFundraisingEventAmt0438483
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt01612295
IRS990/CYGrantsAndSimilarPaidAmt00
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt01051453
IRS990/CYOtherRevenueAmt0-345355
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt0-256263
IRS990/CYSalariesCompEmpBnftPaidAmt0242800
IRS990/CYTotalExpensesAmt01523203
IRS990/CYTotalFundraisingExpenseAmt0228950
IRS990/CYTotalProfFndrsngExpnsAmt0228950
IRS990/CYTotalRevenueAmt01266940
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0THE PROGRAM SERVICES CONSISTS OF PRODUCTION OF POST-DISCIPLINARY AND TIME-BASED EXPERIENCES. FAENA ART PRODUCES AMBITIOUS PUBLIC ARTS PROJECTS, REACHING NEW AUDIENCES AND EXPANDING AWARENESS THROUGH CONTEMPORARY ART ON THE LOCAL LEVEL OF MIAMI BEACH, THE STATE OF FLORIDA, NATIONWIDE AND ABROAD.THE ORGANIZATION FOSTERS NEW MODELS FOR PERFOMATIVE SOCIAL INTERACTION THAT TRANSCEND THE TRADITIONAL BOUNDARIES OF ART, SCIENCE, PHILOSOPHY, AND SOCIAL PRACTICE.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0666185
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt09500
IRS990/FeesForServicesAccountingGrp/TotalAmt09500
IRS990/FeesForServicesLegalGrp/ManagementAndGeneralAmt018980
IRS990/FeesForServicesLegalGrp/TotalAmt018980
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0666185
IRS990/FeesForServicesOtherGrp/TotalAmt0666185
IRS990/FeesForServicesProfFundraising/FundraisingAmt0228950
IRS990/FeesForServicesProfFundraising/TotalAmt0228950
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt040.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt340.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt440.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OfficerInd3X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/PersonNm0GERMAN DE ELIZALDE
IRS990/Form990PartVIISectionAGrp/PersonNm1NEISEN O KASDIN
IRS990/Form990PartVIISectionAGrp/PersonNm2LAUREN CRAMER
IRS990/Form990PartVIISectionAGrp/PersonNm3NICOLE COMOTTI
IRS990/Form990PartVIISectionAGrp/PersonNm4JOSE SOTO
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt3162800
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt460000
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4CONTROLLER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr02014
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd01
IRS990/FundraisingAmt0438483
IRS990/FundraisingDirectExpensesAmt0345355
IRS990/FundraisingGrossIncomeAmt00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt03
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt01612295
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd01
IRS990/IndependentVotingMemberCnt03
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartXIIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt012656
IRS990/InsuranceGrp/TotalAmt012656
IRS990/IntangibleAssetsGrp/BOYAmt030000
IRS990/IntangibleAssetsGrp/EOYAmt030000
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt044
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0NY
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FAENA ARTS ORGANIZATION DEDICATED TO ENCOURAGING, COMMISSIONING AND PRODUCING AMBITIOUS PUBLIC ARTS PROJECTS, REACHING NEW AUDIENCES AND EXPANDING AWARENESS THROUGH CONTEMPORARY ART ON THE LOCAL LEVEL OF MIAMI BEACH, THE STATE OF FLORIDA, NATIONWIDE AND ABROAD.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0386349
IRS990/NetAssetsOrFundBalancesEOYAmt0130086
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0-345355
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0-345355
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0386349
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0130086
IRS990/NondeductibleContributionsInd00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt067250
IRS990/OfficeExpensesGrp/TotalAmt067250
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0LICENSES
IRS990/OtherExpensesGrp/Desc1EQUIPMENT RENTAL
IRS990/OtherExpensesGrp/Desc2MEALS
IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt089996
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt149365
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt211285
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt37659
IRS990/OtherExpensesGrp/TotalAmt089996
IRS990/OtherExpensesGrp/TotalAmt149365
IRS990/OtherExpensesGrp/TotalAmt211285
IRS990/OtherExpensesGrp/TotalAmt37659
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt011406
IRS990/PrincipalOfficerNm0NICOLE COMOTTI
IRS990/ProfessionalFundraisingInd01
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01965214
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt01295363
IRS990/PYOtherRevenueAmt0-631662
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-290738
IRS990/PYSalariesCompEmpBnftPaidAmt0244577
IRS990/PYTotalExpensesAmt01624290
IRS990/PYTotalProfFndrsngExpnsAmt084350
IRS990/PYTotalRevenueAmt01333552
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-256263
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01612295
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01965214
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt01364663
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0313280
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01178351
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt06433803
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct01.00000
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt06433803
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01612295
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt01965214
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt01364663
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0313280
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01178351
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt06433803
IRS990ScheduleA/TotalSupportAmt06433803
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/ExpensesNotReportedAmt0345355
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01523203
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt0345355
IRS990ScheduleD/OtherRevenueAmt0345355
IRS990ScheduleD/RevenueNotReportedAmt0345355
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01266940
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE. UNDER THESE PROVISIONS, NO TAX IS PAID ON INCOME RECEIVED AS LONG AS THE ORGANIZATIONS MAINTAINS ITS TAX EXEMPT STATUS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS PROVIDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. ALTHOUGH THE ORGNIZATION IS EXEMPT FROM INCOME TAX, IT MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED UNDER THE CODE. AS OF DECEMBER 31, 2023, THE ORGANIZATION DETERMINED THAT THERE ARE NO SIGNIFICANT, UNCERTAIN TAX POSITIONS WITHIN ITS FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1DIRECT EXPENSES - FUNDRAISING EVENT 345,355.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FUNDRAISING EXPENSES 345,355.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt01523203
IRS990ScheduleD/TotalRevenuePerForm990Amt01266940
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01612295
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01868558
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/EmailSolicitationsInd0X
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0MARKETING/SPONSORSHIP AGENT
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt01099286
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0906911
IRS990ScheduleG/FundraiserActivityInfoGrp/OrganizationBusinessName/BusinessNameLine1Txt0ENNISMORE INTERNATIONAL MANAGEMENT LIMITED
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt0192375
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0101 NORTH 10TH STREET STUDIO 204
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0BROOKLYN
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd011249
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0438483
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContriEvent1Amt0438483
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0345355
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0DOME ABASEL EVENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt0438483
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0438483
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-345355
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0345355
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0345355
IRS990ScheduleG/MailSolicitationsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt01099286
IRS990ScheduleG/TotalNetToOrganizationAmt0906911
IRS990ScheduleG/TotalRetainedByContractorsAmt0192375
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0162800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NICOLE COMOTTI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0162800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROCESS USED TO REVIEW THE FORM 990 FAENA ARTS INC'S FORM 990 WAS PREPARED BY FAENA ARTS INC'S EXTERNAL ACCOUNTANT, FRENDEL BROWN & WEISSMAN LLP, IN CONSULTATION WITH FAENA ARTS INC'S BOARD OF DIRECTORS. THE COMPLETED VERSION OF THE FORM 990 WAS PROVIDED TO THE BOARD FOR ITS REVIEW AND COMMENT. UPON APPROVAL BY THE BOARD, THE FORM 990 WAS FINALIZED AND FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COMPLIANCE WITH CONFLICT OF INTEREST POLICY THE BOARD OF DIRECTORS OVERSEES THE SUBMISSION OF THE ANNUAL DISCLOSURES BY THE DIRECTORS, OFFICERS, TRUSTEES, AND KEY EMPLOYEES, REVIEWS THE DISCLOSURES TO DETERMINE WHETHER THERE ARE ANY CONFLICTS OF INTEREST, AND MONITORS OVERALL COMPLIANCE WITH THE POLICY. IF ANY ACTUAL OR POTENTIAL CONFLICT WERE TO ARISE, LEGAL COUNSEL WOULD WORK WITH THE BOARD TO FACILITATE THE FAIRNESS OF THE TRANSACTION, TO ENSURE THE RECUSAL OF ANY INTERESTED PARTIES FROM ANY DELIBERATIONS, AND OTHERWISE MONITOR COMPLIANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PROCESS FOR DETERMINING COMPENSATION THE DIRECTORS OF FAENA ARTS INC. VOLUNTEER THEIR SERVICES AND RECEIVE NO COMPENSATION FROM FAENA ARTS INC. ALL FAENA ARTS INC OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE SALARY CHANGES ARE APPROVED BY THE BOARD. THE BOARD PERIODICALLY REVIEWS WHETHER COMPENSATION ARRANGEMENTS AND BENEFITS ARE REASONABLE, BASED ON COMPETENT SURVEY INFORMATION, AND THE RESULT OF ARM'S LENGTH BARGAINING. WHEN CONDUCTING REVIEWS, THE ORGANIZATION MAY, BUT NO NEED TO, USE OUTSIDE ADVISORS. IF OUTSIDE EXPERTS ARE USED, THEIR USE SHALL NOT RELIEVE THE GOVERNING BOARD OF ITS RESPONSIBILITY FOR ENSURING PERIODIC REVIEWS ARE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROCESS FOR MAKING DOCUMENTS AVAILABLE TO THE PUBLIC FAENA ARTS INC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONTRACTORS - PROGRAM RELATED: PROGRAM SERVICE EXPENSES 666,185. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 666,185.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE PROCESS FOR THE SELECTION AND SUPERVISION OF THE ORGANIZATION'S INDEPENDENT AUDITOR HAS REMAINED CONSISTENT WITH THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01033541
IRS990/TotalAssetsEOYAmt0414356
IRS990/TotalAssetsGrp/BOYAmt01033541
IRS990/TotalAssetsGrp/EOYAmt0414356
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalContributionsAmt01612295
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0228950
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0628068
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0666185
IRS990/TotalFunctionalExpensesGrp/TotalAmt01523203
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0647192
IRS990/TotalLiabilitiesEOYAmt0284270
IRS990/TotalLiabilitiesGrp/BOYAmt0647192
IRS990/TotalLiabilitiesGrp/EOYAmt0284270
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0386349
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0130086
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0666185
IRS990/TotalReportableCompFromOrgAmt0222800
IRS990/TotalRevenueGrp/ExclusionAmt0-345355
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01266940
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01033541
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0414356
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt019352
IRS990/TravelGrp/TotalAmt019352
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03201 COLLINS AVE
IRS990/USAddress/CityNm0MIAMI BEACH
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033140
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.FAENAART.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NICOLE COMOTTI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0COO
ReturnHeader/BusinessOfficerGrp/PhoneNum02128679630

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings